Vietnam Power Market Overview
Base Year: 2024
Historical Years: 2019–2024
Forecast Years: 2025–2033
Market Growth Rate: 4.8% (2025–2033)
The Vietnam power market is growing steadily with increased investments in renewable energy and infrastructure development across the country. Vietnam power market size reached USD 18.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 30.2 Billion by 2033, exhibiting a growth rate (CAGR) of 4.8% during 2025-2033.
Vietnam Power Industry Trends and Drivers:
The Vietnamese power market experiences vital changes because of its accelerating economic expansion and surging energy requirements. The economic growth of Vietnam as a leading Southeast Asian nation created high demand for energy which requires massive investment toward power production and necessary infrastructure development. The national government created challenging energy capacity expansion goals which prioritize solar and wind power as renewable energy systems. The rising prominence of solar energy production in Vietnam became possible due to the creation of multiple solar farm development projects which exploit the nation's high levels of sunlight. The country transitions to renewable energy through multiple strategies which serve dual purposes to fulfill national electricity requirements and reduce fossil fuel dependency and protect the environment.
The Vietnamese government works towards developing public-private partnerships (PPPs) as a tool to obtain foreign investment within the power sector. The strategy brought numerous international power companies to establish their operations in the market which brought state-of-the-art expertise and modern technologies. The Vietnamese government is changing its regulatory structure to create competition through private sector involvement. The power sector still faces obstacles because the grid needs capacity upgrades and better energy storage methods to support its operations. The power infrastructure modernization in Vietnam will cause the market to develop into a sustainable and innovative direction which will create a stronger energy system for the future.
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Vietnam Power Industry Segmentation:
The report has segmented the market into the following categories:
Generation Source Insights:
- Thermal
- Hydro
- Renewable
- Others
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019–2024)
- Market Outlook (2025–2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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