Vietnam Green Hydrogen Market

Vietnam Green Hydrogen Market Overview:

The Vietnam green hydrogen market size reached USD 6.75 Million in 2024. The market is projected to reach USD 215.20 Million by 2033, exhibiting a growth rate (CAGR) of 46.92% during 2025-2033. The market is gaining momentum, supported by rich renewable energy resources, and foreign investment in pilot initiatives. Greater emphasis on carbon emission cuts, coupled with increasing demand from the industrial and transport sectors, is spurring investment in hydrogen technologies. Technological improvements in production processes and international collaborations are also driving development. All these are working synergistically to fuel the Vietnam green hydrogen market share.

Vietnam Green Hydrogen Market Trends:

Escalation of Production Ambitions

Vietnam is advancing a national strategy that places green hydrogen at the center of its clean energy transformation. The government has outlined ambitious production targets supported by a clear policy framework, aiming to transition energy-intensive sectors like power generation, transport, and manufacturing toward low-emission alternatives. In February 2024, the Ministry of Industry and Trade announced plans to scale green hydrogen output through renewable-powered electrolysis, setting an initial production range between 100,000 and 500,000 tonnes per year. This direction reflects a strategic pivot to decarbonize key industries while establishing new energy export opportunities for Vietnam. The focus is on enhancing energy security while positioning the country as a regional clean energy hub. The integration of green hydrogen into the broader energy mix is being supported by the development of necessary infrastructure, including storage and distribution networks. These initiatives mark a shift from policy intent to project-level action. With strong governmental alignment and rising international interest, the Vietnam green hydrogen market growth is entering a new phase defined by practical scalability and long-term industrial integration.

Development of Ecosystem and Infrastructure

Vietnam is moving beyond planning and taking real steps toward building a green hydrogen economy through regional initiatives and infrastructure deployment. The government’s approach includes pilot projects, local implementation, and the establishment of technical standards to support future scalability. In March 2025, authorities confirmed pilot programs across provinces such as Trà Vinh, Bến Tre, and Bac Lieu, where green hydrogen production and ammonia cofiring in power plants are being explored. These pilots aim to assess feasibility, refining technology choices, and prepare for broader rollout. Alongside production, investments are being directed toward developing the value chain storage, transportation, and supply integration with existing industrial clusters. These coordinated efforts are helping to create a more cohesive ecosystem, where hydrogen can support multiple sectors, from energy to manufacturing. As these regional initiatives progress, they provide a foundation for national expansion, ensuring that green hydrogen is not only viable but operationally embedded. This momentum reflects how Vietnam green hydrogen market trends are shifting from policy declarations to active infrastructure development with measurable progress in targeted regions.

Leveraging Renewable Potential and Policy Enablers

Vietnam is aligning its abundant renewable energy resources with regulatory support to unlock long-term opportunities in green hydrogen. With high solar irradiation and significant onshore and offshore wind potential, the country is well-positioned to use these assets for large-scale hydrogen production. In March 2024, national energy planning documents identified specific zones for renewable-hydrogen integration, where wind and solar output can be directly coupled with electrolysis systems. At the same time, new policy instruments such as Decree 58/2025 are being introduced to attract investment and lower entry barriers. These include tax incentives, land-use exemptions, and supportive electricity pricing models for hydrogen-related projects. The combination of favorable geography and enabling regulation creates a strong foundation for scaling production capacity and integrating hydrogen into both domestic and export energy strategies. This coordinated effort is designed to accelerate clean energy deployment while addressing climate targets and energy diversification. As momentum builds, the integration of renewables and hydrogen is emerging as a practical pathway for Vietnam to strengthen its energy infrastructure and become a more resilient and sustainable energy economy.

Vietnam Green Hydrogen Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on technology, application, and distribution channel.

Technology Insights:

• Proton Exchange Membrane Electrolyzer
• Alkaline Electrolyzer
• Others

The report has provided a detailed breakup and analysis of the market based on technology. This includes proton exchange membrane electrolyzer, alkaline electrolyzer, and others.

Application Insights:

• Power Generation
• Transport
• Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes power generation, transport, and others.

Distribution Channel Insights:

• Pipeline
• Cargo

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes pipeline and cargo.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Green Hydrogen Market News:

• May 2025: HDF Energy has partnered with Southern Power Corporation (EVNSPC), a subsidiary of Vietnam Electricity (EVN), to advance green hydrogen power development in Vietnam. The collaboration focuses on providing stable, 24/7 clean electricity to remote islands, reducing reliance on diesel-generated power. The partnership includes conducting technical and feasibility studies, identifying project sites, and aligning investment and engineering resources. This initiative reflects a commitment to accelerating Vietnam’s energy transition and promoting sustainable development
• April 2025: John Cockerill has entered a Memorandum of Understanding (MoU) with The Green Solutions Group (TGS) to provide pressurised alkaline electrolysers for the Tra Vinh and Ben Tre green hydrogen and ammonia production facilities in Vietnam. This partnership will focus on green hydrogen production development in the Mekong Delta, blending John Cockerill's hydrogen solution capabilities with TGS's renewable energy projects. The MoU was signed during Belgium's State Visit to Vietnam, emphasizing the partnership's dedication to sustainability.

Vietnam Green Hydrogen Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam green hydrogen market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam green hydrogen market on the basis of technology?
• What is the breakup of the Vietnam green hydrogen market on the basis of application?
• What is the breakup of the Vietnam green hydrogen market on the basis of distribution channel?
• What is the breakup of the Vietnam green hydrogen market on the basis of region?
• What are the various stages in the value chain of the Vietnam green hydrogen market? 
• What are the key driving factors and challenges in the Vietnam green hydrogen market?
• What is the structure of the Vietnam green hydrogen market and who are the key players?
• What is the degree of competition in the Vietnam green hydrogen market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam green hydrogen market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam green hydrogen market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam green hydrogen industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.