Article -> Article Details
| Title | Vietnam Solar Battery Market Size, Share, Growth and Report 2025-2033 |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Vietnam Solar Battery Market |
| Owner | Rahul Kumar |
| Description | |
| The Vietnam solar battery market size reached USD 1.15 Million in 2024 and is projected to reach USD 3.61 Million by 2033, exhibiting a CAGR of 12.16% during the forecast period of 2025-2033. This growth is driven by increased electric vehicle adoption, strong government regulatory support, and renewable energy incentives. Declining lithium-ion battery prices and advances in battery management systems further fuel market expansion. Study Assumption Years
Vietnam Solar Battery Market Key Takeaways
Sample Request Link: https://www.imarcgroup.com/vietnam-solar-battery-market/requestsample Market Growth Factors Reports indicate Vietnam's solar battery market has seen growth that is fast because electric vehicle ownership in the country has skyrocketed, from 8000 in 2022 to almost 90,000 in 2024. In 2024, the yearly sales volume of electric vehicles in Vietnam was 2.5 times above the units sold in 2022. This has increased demand for solar batteries to charge the public electric vehicle charging network and provide back up power, as the government aims for 50% electric vehicle penetration rate in urban areas by 2030 and net-zero emissions by 2050. Government policies are a meaningful driver of market expansion. Decree No. As of July 2024, it is allowed by Decree 80/2024/ND-CP to sign direct power purchase agreements with large industrial and commercial customers by private renewable energy producers. Decree 58/2025/ND-CP allows exemptions or reductions of land and land lease fees, and gives priority to connect battery storage systems to the national grid as forms of investment incentives to renewable energy projects. Battery storage, needed to stabilize the grid, is also a key component in achieving 73 gigawatts of solar and 38 gigawatts of wind energy as called for by Power Development Plan VIII. Costs and technology improvements have also been meaningful drivers. Lithium-ion battery prices fell to new 2023 low of USD 139/kWh. This is due to the rapid reduction in the price of its raw materials and a surge in production capacity. Vietnam has a maturing domestic battery manufacturing ecosystem and economically exploitable high-quality nickel reserves controlled by international mining companies. Smart Battery Management Systems (BMS) capable of maximizing the lifecycle of batteries have rapidly improved and supported the uptake of batteries in Vietnam. Market Segmentation Type Insights:
These types are analyzed in detail based on their market share and growth prospects. Capacity Insights:
Segmentation by capacity covers small to larger battery systems tailored for varied applications. End User Insights:
Each end-user segment is evaluated for demand patterns and usage trends. Regional Insights:
Key regions are assessed for market penetration and growth opportunities. Regional Insights Northern Vietnam, Central Vietnam, and Southern Vietnam are the major regional markets analyzed. The report does not specify a dominant region or exact statistics but covers comprehensive analysis across these regions for 2025-2033. Recent Developments & News In August 2025, Fluence and ACE Engineering inaugurated a new automated 35GWh utility-scale battery storage system manufacturing facility in Vietnam's Bac Giang Province. This facility greatly increases Vietnam's battery storage manufacturing capacity and positions the country as a key production hub for the Southeast Asian BESS market, utilizing advanced automation technology to improve efficiency. Key Players
Competitive Landscape The competitive landscape of the industry has also been examined along with the profiles of the key players. Market Report Coverage
If you require any specific information that is not covered currently within the scope of the report, we will provide the same 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. Contact Us IMARC Group, 134 N 4th St. Brooklyn, NY 11249, USA, Email: sales@imarcgroup.com, Tel No: (D) +91 120 433 0800, United States: +1-201971-6302 | |