Vietnam Electric Vehicle Market Comprehensive Analysis and Forecast 2025 to 2030
Vietnam Electric Vehicle Market Overview: 2025-2030
Base Year: 2024
Historical Years: 2020–23
Forecast Years: 2025-2030
The Vietnam Electric Vehicle Market size was valued at around USD 2.4 billion in 2024 and is expected to reach USD 6.74 billion in 2030. Along with this, the market is estimated to grow at a CAGR of around 18.12% during the forecast period, i.e., 2025-30. The Vietnam Electric Vehicle Market is going through significant growth due to multiple drivers like technological advancements and, of course, increasing healthcare needs. The increase in road accidents throughout the country creates a greater demand for X-rays.
Markntel Advisor’s Vietnam Electric Vehicle Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Vietnam Electric Vehicle Market drivers, barriers, Vietnam Electric Vehicle Market Trends, and Key Players in Vietnam Electric Vehicle Market.
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Vietnam Electric Vehicle Market Dynamics: 2025-2030
Vietnam Electric Vehicle Market Driver:
Rising Environmental Concerns Boosting Market Growth – The rising awareness regarding environmental health is driving the market’s growth. Vietnam has witnessed a peak in air pollution in recent years due to transportation emissions. It is the 2nd most polluted country in the Asian region, which is causing severe health problems in the country. Respiratory diseases like asthma are major outcomes of these emissions. As per the National Library of Medicine (2023), over 2.9 million individuals in Vietnam were suffering from Asthma due to rising air pollution in the country. Additionally, WHO has stated that over 59,000 deaths annually are due to air pollution in the country, which is contributing to the rapid shift of Vietnamese citizens towards greener practices, including electric vehicles. As a result, there has been about a 560-fold increase in EV adoption in the last four years (2020-2024) in Vietnam, which shows a substantial increase in the market.
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Vietnam Electric Vehicle Market (2025-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Propulsion Type
-Battery Electric Vehicle (BEV) – Market Size & Forecast 2020–2030, USD Million
-Plug-in Hybrid Electric Vehicle (PHEV) – Market Size & Forecast 2020–2030, USD Million
-Hybrid Electric Vehicle (HEV) – Market Size & Forecast 2020–2030, USD Million
-Fuel Cell Electric Vehicle (FCEV) – Market Size & Forecast 2020–2030, USD Million
By Vehicle Type
-Passenger Cars – Market Size & Forecast 2020–2030, USD Million
-Commercial Vehicles – Market Size & Forecast 2020–2030, USD Million
-Electric Two-Wheelers – Market Size & Forecast 2020–2030, USD Million
-Electric Buses – Market Size & Forecast 2020–2030, USD Million
By Battery Type
-Lithium-ion Battery – Market Size & Forecast 2020–2030, USD Million
-Nickel-Metal Hydride Battery – Market Size & Forecast 2020–2030, USD Million
-Others – Market Size & Forecast 2020–2030, USD Million
By End-User
-Private/Individual – Market Size & Forecast 2020–2030, USD Million
-Commercial/Corporate Fleet – Market Size & Forecast 2020–2030, USD Million
-Public Transport (e.g., E-buses) – Market Size & Forecast 2020–2030, USD Million
By Distribution Channel
-Dealerships – Market Size & Forecast 2020–2030, USD Million
-Direct Sales – Market Size & Forecast 2020–2030, USD Million
-Online/E-Commerce – Market Size & Forecast 2020–2030, USD Million
By Region
-Northern
-Central
-Southern
-Southeast
-Mekong Delta.
Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Top Companies Operating in the Vietnam Electric Vehicle Market:
VinFast Auto Ltd., Tesla Inc., Mercedes-Benz Vietnam, Toyota Motor Vietnam, Honda Vietnam, Hyundai Thanh Cong Vietnam, Kia Vietnam, TMT Motors, Nissan Vietnam, Dat Bike (for electric two-wheelers), Great Wall Motors (Haval), and Others.
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