Vietnam Power Rental Market

Vietnam Power Rental Market Overview:

The Vietnam power rental market size reached USD 108.50 Million in 2024. The market is projected to reach USD 189.23 Million by 2033, exhibiting a growth rate (CAGR) of 5.72% during 2025-2033. The market is propelled by rapid industrialization, expanding infrastructure projects, and rising demand for reliable backup power. Growth in manufacturing, construction, and urban development drives the need for temporary and flexible power solutions. Frequent grid outages and energy transition challenges further increase reliance on rental generators to ensure uninterrupted operations. As a result, power rental services have become essential for businesses and construction projects, providing cost-effective, scalable, and immediate solutions thus supporting the Vietnam's power rental market share

Vietnam Power Rental Market Trends:

Industrial Expansion and Manufacturing Growth

Vietnam’s robust industrial expansion is a key Vietnam power rental market trend, with the manufacturing sector playing a pivotal role in GDP growth. In 2024, the country attracted a record $25.35 billion in Foreign Direct Investment (FDI), with manufacturing and processing receiving $25.58 billion, 66.9% of total FDI highlighting the sector’s rapid growth. Numerous manufacturing facilities, industrial parks, and special economic zones have been developed as a result of government industrialization initiatives and this investment inflow. Industries like electronics, textiles, and automobiles need consistent, dependable power for both building and operation. Manufacturers may now fulfill urgent power demands without having to invest in permanent installations or wait for lengthy lead times thanks to power leasing services' flexible and affordable options. As Vietnam solidifies its standing as a major industrial base in Southeast Asia, this tendency is anticipated to continue.

Infrastructure Development and Construction Boom

Vietnam's massive infrastructure development is creating robust demand for temporary power solutions. Aggressive government visions for transportation infrastructure, urbanization, and smart cities need guaranteed electricity to build. Large-scale projects such as highways, airports, ports, and urban developments rely on rental power for lighting, equipment, and operational needs. Urbanization and population movement are driving constant expansion in the construction industry, leading to growing demand for mobile and flexible power solutions. Moreover, the development of data centers and telecommunications infrastructure to enable Vietnam's digital transformation is dependent on backup power during installation and maintenance. Such trends highlight the importance of power rental services in maintaining uninterrupted operations, delivering cost-efficient, instant power capacity without the capital outlay or extended lead times of permanent installations, and fueling Vietnam power rental market growth.

Energy Transition and Grid Reliability Challenges

Vietnam’s energy transition and grid reliability challenges are driving growth in the power rental market. Frequent power outages, caused by aging infrastructure, extreme weather, and rising electricity demand, make backup solutions essential for businesses across industries. The shift to renewable energy, while environmentally beneficial, introduces intermittency that increases reliance on rental generators for industrial facilities, hospitals, data centers, and commercial establishments. Temporary power demand is further supported by the government’s focus on LNG imports and gas-to-power projects, with a guaranteed 65% power offtake for imported LNG over a 10-year period, ensuring stable electricity supply during the transition. Additionally, temporary power solutions are required while aging coal facilities are phased out. These elements highlight how important flexible, reasonably priced rental power services are to preserving continuity and assisting Vietnam's developing energy infrastructure.

Vietnam Power Rental 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 fuel type, equipment type, power rating, application, and end use industry.

Fuel Type Insights:

• Diesel
• Natural Gas
• Others

The report has provided a detailed breakup and analysis of the market based on the fuel type. This includes diesel, natural gas, and others.

Equipment Type Insights:

• Generator
• Transformer
• Load Bank
• Others

A detailed breakup and analysis of the market based on the equipment type have also been provided in the report. This includes generator, transformer, load bank, and others.

Power Rating Insights:

• Up to 50 kW
• 51-500 kW
• 501-2,500 kW
• Above 2,500 kW

The report has provided a detailed breakup and analysis of the market based on the power rating. This includes up to 50 kW, 51-500 kW, 501-2,500 kW, and above 2,500 kW.

Application Insights:

• Peak Shaving
• Standby Power
• Base Load/Continuous Power

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes peak shaving, standby power, and base load/continuous power.

End Use Industry Insights:

• Utilities
• Oil & Gas
• Events
• Construction
• Mining
• Data Centers
• Others

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes utilities, oil & gas, events, construction, mining, data centers, and others

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 Power Rental Market News:

• In July 2025, EnQuest PLC completed the acquisition of Harbour Energy’s Vietnam business, gaining a 53.125% stake and operatorship of the Chim Sáo and Dua fields (Block 12W). The $85.1 million deal, net of interim cash flows, cost around $25.7 million. With 7.5 million boe 2P reserves and 4.9 million boe 2C resources, EnQuest aims to optimise production, extend the PSC beyond 2030, and leverage its expertise in late-life and FPSO asset management to grow its Southeast Asian footprint.
• In April 2025, Vietnam has approved a revised National Power Development Plan (PDP8), allocating $136.3 billion by 2030 to boost energy security. The plan prioritizes solar power as the leading source, increases total capacity to 236 GW, and introduces nuclear energy (4–6.4 GW) for the first time. Vietnam also aims to expand renewable energy exports, limit new coal plants, and raise non-hydro renewables to 28–36% by 2030, supporting a low-carbon energy transition.

Vietnam Power Rental Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam power rental market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam power rental market on the basis of fuel type?
• What is the breakup of the Vietnam power rental market on the basis of equipment type?
• What is the breakup of the Vietnam power rental market on the basis of power rating?
• What is the breakup of the Vietnam power rental market on the basis of application?
• What is the breakup of the Vietnam power rental market on the basis of end use industry?
• What is the breakup of the Vietnam power rental market on the basis of region?
• What are the various stages in the value chain of the Vietnam power rental market?
• What are the key driving factors and challenges in the Vietnam power rental market?
• What is the structure of the Vietnam power rental market and who are the key players?
• What is the degree of competition in the Vietnam power rental 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 power rental market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam power rental 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 power rental 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.