Vietnam Taxi Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Vietnam Taxi market is segmented by booking type (Offline and Online), Vehicle Type (Motorcycle/Bike and Cars), and City (Hanoi, Ho Chi Minh City, and Other Cities). The Report offers market size and forecast for Vietnam Taxi Market in value USD billion for all the above segments.

Market Snapshot

vietnam taxi market_overview
Study Period:

2018 - 2026

Base Year:



>10.25 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Vietnam Taxi Market was valued at USD 0.44 billion in 2020 and is expected to reach USD 0.79 billion in 2026 registering a CAGR of about 10.25% during the forecast period (2021 - 2026).

The COVID-19 pandemic hindered the growth of Vietnam Taxi Market as there were global factory shutdowns, travel bans, and border lockdowns, to combat and contain the outbreak, impacting every industry and economy worldwide. As tourism is a huge market, the demand for vehicle rentals halted with continuous lockdowns across the world pre-pandemic.

However, as unlocking process began restoring economic activities Vietnam Taxi market is expected to witness a nominal growth during forecast period. People tend to prefer rental vehicles than any other means of transportation to maintain social distancing and hygiene protocols.

The Reduced taxi fare and ease of booking through the mobile app are the major factors that driven the modern taxi service to capture a major share of the Vietnamese taxi market.Moreover, still vehicle booking through phone calling and hailing on streets, continues to operate as a major service among popular brands of taxi firms, like Mai Linh, Vinasun, Vinataxi, TaxiGroup, Hoang Long, etc., and thus, the traditional taxi service had acquired a major share of the Vietnamese taxi market.

Among more than 200 taxi firms, the major taxi firms, namely Vinasun and Mai Linh, are the major player in the Vietnamese taxi market. However, the entrance of Uber and Grab has affected the business of these players in the country.

Scope of the Report

The Vietnam Taxi Market report covers the latest trends, covid-19 impact followed by technological developments in the market. The scope of the report covers segmentation based on booking type, Vehicle Type, and City.

By Booking Type, the market is segmented into Offline and Online booking. By Vehicle Type, the market is segmented into Motorcycle/Bike and Cars and By City, the market is segmented into Hanoi, Ho Chi Minh City, and Other Cities. For each segment, the market sizing and forecast have been done on basis of value (USD billion).

Booking Type
Vehicle Type
Ho Chi Minh City
Other Cities

Report scope can be customized per your requirements. Click here.

Key Market Trends

Motorcycle Ride-Hailing Services Anticipated To Dominate The Market

Motorcycles/bikes, for more than two decades, are the most widely used modes of transportation by the people in Vietnam. As of 2019, out of 96 million population in Vietnam, nearly 49 million owned motorbikes. Over the past three years, the country has registered nearly 3 million motorbike sales each year, owing to the growing affordability, due to the improvement of their average monthly income.

The growing motorbike sales in Vietnam and its penetration into the ride-hailing and taxi industries have enabled motorcycles as the best compatible model of transport (at least for shorter distances), owing to their availability at half the fare of a taxi/ride-hailing car. The entry of app-based motorbike taxi services had predominantly captured the market share of the traditional motorbike taxi, popularly known as “xe om” in the country.

In the Vietnamese motorcycle taxi market, traditional taxi drivers are still present, especially in tourist areas. However, the app-based motorbike services dominate with more than 60% share in the country’s motorbike taxi market. The increasing entry of both local and international companies into the app-based motorbike services, with unique promotional programs in the Vietnamese taxi market, is likely to, further, propel the demand for app-based motorcycle ride-hailing market during the forecast period.

Vietnam Taxi Market _trend 1

To understand key trends, Download Sample Report

Ho Chi Minh to Lead the Taxi Market in the Country

The demand for taxis in the country is growing from every corner. However, Ho Chi Minh City is leading the Vietnam taxi market, followed by Hanoi and other cities.

Ho Chi Minh has also experienced taxi vehicles surge on the city roads under the ride-hailing pilot program. The overall taxicab number is anticipated to exceed the limit, i.e., ~14,500 by 2020 and ~16,500 by 2025, as stated under the city's taxi management plan.For instance,

With the introduction of new Decree, nearly 77 taxi firms in the Hanoi have a potential scope to build and launch their own ride-hailing app in the coming years. Among these taxi firms, Mai Linh and TaxiGroup are popularly used taxi services in Hanoi city, providing online booking options through their apps.

The app-based companies, such as Uber and Grab, got support from the public, as people said they were unhappy with inadequate and unreliable services provided by traditional taxi firms, such as drivers refusing to serve short distance or failing to show up regardless of clients' booking.


Vietnam Taxi Market _trend 2

Competitive Landscape

The Vietnam taxi market is fragmented. Industry participants are expected to expect intensive competition owing to aggressive strategies, including acquisitions, pricing, merges, and new product development. Major players in this market are Mai Linh Group JSC, Vinasun Corp, VinaTaxi, GrabTaxi Holdings PTE Ltd.For instance,

  • Vinasun Corp. dominated the taxi market, followed by Grab, and Mai Linh Group. Both Vinasun Corp. and Mai Linh witnessed a consistent decline in revenue. However, Vinasun Corp. is still accounting for a major share in the market, owing to its presence, of more than a decade, in the taxi industry.
  • Recently, after Uber withdrew from the country, the domestic ride hailing market witnessed intense competition, with new brands, such as FastGo and Go-Jek entering the market, along with the renovation of old brands, such as Vinasun and Mai Linh.

Companies, like Vinasun Corporation, Mai Linh Group, and Grab, and new brands, like Go-Jek, FastGo, and Aber, are operating in this highly competitive market.

Recent Developments

  • In February 2020 Grab introduced an “advance booking” service in Hanoi, where the service allows customers to book a ride at least seven days in advance. The company plans to test the service in Hanoi before rolling out in other provinces and cities in the near future.
  • In December 2020, Grab Vietnam increased its share from 20% to nearly 30% on its motorbike service Grab Bike, and even more on Grab Car, on its taxi offering. This change came after the Vietnamese government had abruptly increased an existing tax on ride-hailing firms.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Driver

    2. 4.2 Market Restraint

    3. 4.3 Porters Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Booking Type

      1. 5.1.1 Offline

      2. 5.1.2 Online

    2. 5.2 Vehicle Type

      1. 5.2.1 Motorcycle/Bike

      2. 5.2.2 Cars

    3. 5.3 City

      1. 5.3.1 Ho Chi Minh City

      2. 5.3.2 Hanoi

      3. 5.3.3 Other Cities


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Grab Taxi Holdings Pte Ltd

      2. 6.2.2 kyyti Group

      3. 6.2.3 FastGo

      4. 6.2.4 Go-Jek

      5. 6.2.5 MVL Chain

      6. 6.2.6 Mai Linh Group JSC

      7. 6.2.7 Vina Taxi

      8. 6.2.8 Viansun Corporation

      9. 6.2.9 Hoang Long

      10. 6.2.10 Vota

      11. 6.2.11 Taxi Navi


**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Vietnam Taxi Market market is studied from 2018 - 2026.

The Vietnam Taxi Market is growing at a CAGR of >10.25% over the next 5 years.

The Vietnam Taxi Market is valued at 0.4 Billion USD in 2018.

The Vietnam Taxi Market is valued at 0.8 Billion USD in 2026.

  • Mai Linh Group JSC
  • Vinasun Corp.
  • VinaTaxi
  • GrabTaxi Holdings PTE Ltd

Are the major companies operating in Vietnam Taxi Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!