The Vietnam Electric Vehicle Market reports delivers an in-depth assessment of market size, share, and emerging trends, offering valuable insights into growth opportunities. It examines market segmentation and definitions, highlighting core components and key drivers of expansion. By applying SWOT and PESTEL analyses, the study evaluates the sector’s strengths, weaknesses, opportunities, and threats, while also considering political, economic, social, technological, environmental, and legal factors. Expert reviews of competitor strategies and recent developments provide a clearer view of regional dynamics and future market trajectories, establishing a strong foundation for strategic planning and informed investment decisions.
What will be the market size of Vietnam Electric Vehicle market 2030?
The Vietnam Electric Vehicle Market size was valued at around USD 2.4 billion in 2024 and is expected to reach USD 6.74 billion in 2030. Along with this, the market is estimated to grow at a CAGR of around 18.12% during the forecast period, i.e., 2025-30.
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Who are the top companies operating in the Vietnam Electric Vehicle market?
The report features prominent companies operating in the Vietnam Electric Vehicle market and the successful strategies they have adopted. It also provides detailed insights into each company’s market share and their role in driving the industry’s growth. As per MarkNtel Advisors, top companies in Vietnam Electric Vehicle market: VinFast Auto Ltd., Tesla Inc., Mercedes-Benz Vietnam, Toyota Motor Vietnam, Honda Vietnam, Hyundai Thanh Cong Vietnam, Kia Vietnam, TMT Motors, Nissan Vietnam, Dat Bike (for electric two-wheelers), Great Wall Motors (Haval), and Others.
What is the key factor projected to fuel growth in the Vietnam Electric Vehicle Market between 2025 and 2030?
Rising Environmental Concerns Boosting Market Growth – The rising awareness regarding environmental health is driving the market’s growth. Vietnam has witnessed a peak in air pollution in recent years due to transportation emissions. It is the 2nd most polluted country in the Asian region, which is causing severe health problems in the country. Respiratory diseases like asthma are major outcomes of these emissions. As per the National Library of Medicine (2023), over 2.9 million individuals in Vietnam were suffering from Asthma due to rising air pollution in the country. Additionally, WHO has stated that over 59,000 deaths annually are due to air pollution in the country, which is contributing to the rapid shift of Vietnamese citizens towards greener practices, including electric vehicles. As a result, there has been about a 560-fold increase in EV adoption in the last four years (2020-2024) in Vietnam, which shows a substantial increase in the market.
Vietnam Electric Vehicle Market - Segmentation Analysis
- By Propulsion Type (Battery Electric Vehicle [BEV], Plug-in Hybrid Electric Vehicle [PHEV], Hybrid Electric Vehicle [HEV], Fuel Cell Electric Vehicle [FCEV]),
- By Vehicle Type (Passenger Cars, Commercial Vehicles, Electric Two-Wheelers, Electric Buses),
- By Battery Type (Lithium-ion Battery, Nickel-Metal Hydride Battery, Others),
- By End-User (Private/Individual, Commercial/Corporate Fleet, Public Transport),
- By Distribution Channel (Dealerships, Direct Sales, Online/E-Commerce) and Others
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How does the Vietnam Electric Vehicle Market vary across different geography?
By Region
- Northern
- Central
- Southern
- Southeast
- Mekong Delta
This Section cover detailed analysis of revenue, market share and growth rate, historical data (2020-23) and forecast (2025-2030) of the following segmentation and geography.
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Comprehensive Table of Contents – Vietnam Electric Vehicle Market Analysis and Forecast, 2030
- Table 1: Introduction
- Table 2: Executive Summary
- Table 3: Market Regulations, Policies & Standards
- Table 4: Vietnam Electric Vehicle Market Size, Share & Scope, 2020-2030F
- Table 5: Market Trends & Developments
- Table 6: Market Dynamics (Key Drivers, and Challenges)
- Table 7: Market Hotspots & Opportunities
- Table 8: Market Value Chain Analysis
- Table 9: Market Outlook, 2020-2030F
- Table 10: Market Size & Analysis by Revenues (USD Million):
- Table 11: Market Size & Forecast 2020–2030 by Segmentation
- Table 12: Market Size & Forecast 2020–2030 by Geography
- Table 13: Key Strategic Imperatives for Success & Growth
- Table 14: Competitor Analysis of Vietnam Electric Vehicle Companies
Key Benefits for Industry Participants and Stakeholders
- Insight into emerging market trends and investment opportunities
- Understanding of regional market dynamics and competitive landscapes
- Data-driven forecasts to support strategic decision-making
- Access to industry benchmarks for performance evaluation
- Identification of potential risks and growth challenges
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