Vietnam Electric Vehicle Market Outlook (2020-2025) | Value, Size, Share, industry, Growth, Outlook, Revenue, Analysis, Forecast & COVID-19 IMPACT

Vietnam Electric Vehicle Market report comprehensively covers the market by vehicle types, charger types, DC charger power ratings, and charger end consumers. Vietnam electric vehicle market report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest 2023 Development of the Vietnam Electric Vehicle Market

Vietnam Electric Vehicle Market is in its early stages of development. However, the government is supporting the industry for electric vehicles, with various initiatives and policies to promote the adoption of EVs. Several domestic and foreign companies are investing in the production of electric vehicles and charging infrastructure in Vietnam. The government is also encouraging the development of charging infrastructure and the production of EVs in the country. Several local companies are entering the electric vehicle market by producing EVs. This will promote the use of EVs and create new jobs and stimulate economic growth.

The government is promoting the development of advanced technologies related to EVs, such as battery technology and energy management systems. Several universities and research institutions are also collaborating with the government and private companies to develop new technologies in this field. The electric motorcycle market is growing in Vietnam, with several local companies producing electric scooters and motorcycles. This will help to promote the use of EVs and reduce air pollution in cities. The car-sharing market is growing in Vietnam, and several companies are offering electric vehicles for sharing. This will promote the use of EVs and encourage the expansion of the charging infrastructure.

Vietnam Electric Vehicle Market Synopsis

Vietnam electric vehicle market is dominated by the two-wheelers segment with more than 95% of the overall electric vehicle market volume followed by three-wheelers in 2019. However, the electric bus segment is anticipated to register the highest growth during the forecast period on account of government steps toward a clean mode of public transportation and the deployment of electric buses for commutation to reduce the growing pollution and reduce carbon emissions in the country. Additionally, the electric vehicle market is expected to take a hit amid the Covid-19 pandemic in 2020.

According to 6Wresearch, Vietnam electric vehicle market size grew at a CAGR of 22.9% during 2020-2025. Low GDP per capita of USD 2300 acts as a hindrance to the adoption of electric four-wheelers whose cost is quite high as compared to the low-priced two-wheelers which people prefer to commute and is the primary reason behind the low adoption of four-wheelers in the country.

Market Analysis By Vehicle Types

2 Wheeler passenger is the largest segment in the Vietnam electric vehicle market. Additionally, the Low availability of proper electric charging infrastructure made people reluctant to adopt electric vehicles in the country. However, Vinfast, a local firm aims to introduce budget-friendly electric vehicles along with the installation of adequate electric vehicle charging stations over the coming period which would result in healthy growth of electric vehicles during the forecast period.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 6 Years Market Numbers.
• Estimated Data Starting from 2020 to 2025F.
• Base Year: 2019
• Forecast Data until 2025F.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Vietnam Electric Vehicle Market Overview
• Vietnam Electric Vehicle Market Outlook
• Vietnam Electric Vehicle Market Forecast
• Historical Data and Forecast Vietnam Electric Vehicle Market Revenues and Volume for the Period 2019-2025F
• Historical Data and Forecast of Vietnam Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2019-2025F
• Historical Data and Forecast of Vietnam Electric Vehicle Market Revenues and Volume, By Charger Types, for the Period 2019-2025F
• Historical Data and Forecast of Vietnam Electric Vehicle Market Revenues and Volume, By DC Charger Power Ratings, for the Period 2019-2025F
• Historical Data and Forecast of Vietnam Electric Vehicle Market Revenues and Volume, By Charger End Consumers, for the Period 2019-2025F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Impact Analysis of COVID-19
• Market Trends
• Vietnam Vehicle Market Revenue Ranking, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Vehicle Types

• • Electric 2-Wheeler
  • Electric 3-Wheeler
  • Electric 4-Wheeler
    • Passenger Car
    • Light Commercial Vehicle (Goods Carrier)
  • Electric Bus
  • Electric Truck

By Charger Types

• AC
• DC

By DC Charger Connector Types

• CHAdeMO
• CCS
• Others (including Tesla superchargers and GB/T)

By DC Charger Power Ratings

• 40-80 kW
• 80-120 kW
• 120-200 kW

By Charger End Consumers

• Public
• Private

Vietnam Electric Vehicle Market: FAQs