Vietnam Power Market Size

Statistics for the 2023 & 2024 Vietnam Power market size, created by Mordor Intelligence™ Industry Reports. Vietnam Power size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Vietnam Power Industry

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Vietnam Power Market Summary
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Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.00 %
Market Concentration Medium

Major Players

Vietnam Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Vietnam Power Market Analysis

The Vietnamese power market is expected to record a CAGR of more than 5% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the medium term, in Vietnam, the power market is undergoing significant transformation owing to the efforts taken by the government to improve electricity access in the country, along with its plans to increase the share of renewables in the country's power generation mix, these factors aid in driving the market growth.
  • On the other hand, huge investments are required to set up and modernize power generation, transmission, or distribution networks, and weak private sector investments are restraining the power market in Vietnam.
  • Nevertheless, Vietnam has some of the most significant wind resources, creating enormous opportunities to exploit wind energy for power generation. The factors above clubbed with foreign investment and extensive R&D projects, offer an opportunity to grow the power market in Vietnam.

Vietnam Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)