Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Vietnam Power Market Growth
Vietnam Electricity (EVN) reported that the country's renewable energy production increased significantly to an impressive 37,865 GWh in 2022. This growth has positioned Vietnam as the leading renewable energy producer in Southeast Asia, contributing to 69% of the region's solar and wind power generation by 2022. The initial plan aimed for 800 MW of wind power by 2020, with a goal of 2,000 MW by 2025. However, by May 2023, the combined capacity of wind, solar, and rooftop solar projects in Vietnam had already exceeded expectations, reaching a total of 21,839 MW, surpassing the targets outlined in PDP7.
Vietnam's rapid industrialisation has led to a significant increase in the demand for energy, particularly electricity. With a large population and strong economic growth, Vietnam is considered one of the fastest-growing energy markets in Asia. The country is facing a surge in power demand, as reported by the Institute of Energy of Vietnam (IEV), which is anticipated to impact its energy security. The Vietnamese government anticipates an annual growth rate of 10-12% in power consumption until 2030, making it one of the highest in Asia.
The anticipated Power Development Plan VIII (PDP8) received approval on May 15, 2023, covering the timeframe from 2021 to 2030. As outlined in PDP8, the projected total power capacity to be installed by 2030 will reach approximately 146,000 MW and escalate to over 416,000 MW by 2045. It is envisioned that coal will contribute around 30,000 MW towards power generation by 2030. With the diminishing role of coal in power generation, natural gas, solar, and wind energy sources are expected to account for a larger percentage in the forecast period.
Vietnam Power Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 265.7 TWh.
The market is estimated to grow at a CAGR of 4.6% between 2024 and 2032.
The market is being driven by rapid urbanisation, a growing population, and rising infrastructure development projects.
The key trends aiding the market expansion include the growing adoption of renewable energy practices and the expansion of grid infrastructure.
The major regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
The different sources of power include thermal, hydro, and renewable, among others.
The major players in the market are Vietnam Electricity, PETROVIETNAM POWER CORPORATION, Hai Phong Thermal Power Joint Stock Company, GIA LAI ELECTRICITY JOINT STOCK COMPANY, Mekong Energy Co., SAO MAI Group, SOLARBK, GCL (Group) Holdings Co., Ltd., BIMGroup, and TRUNGNAM GROUP, among others.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Our Offices
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124