Vietnam Solar Battery Market Size, Share, Trends and Forecast by Type, Capacity, End User, and Region, 2025-2033

Vietnam Solar Battery Market Overview:

The Vietnam solar battery market size reached USD 1.15 Million in 2024. The market is projected to reach USD 3.61 Million by 2033, exhibiting a growth rate (CAGR) of 12.16% during 2025-2033. The market is fueled by high adoption of electric vehicles, generating huge battery demand, extensive policy support by the government through regulations, and renewable energy incentives. Further, reducing lithium-ion battery prices is rendering solar battery systems more affordable to consumers and companies. Further, innovation in battery management systems and an increase in renewable energy schemes are augmenting the Vietnam solar battery market share.

Vietnam Solar Battery Market Trends:

Rapid Electric Vehicle Adoption Drives Battery Demand

The market is experiencing unprecedented growth driven by the country's aggressive electric vehicle adoption strategy. As per industry reports, Vietnam's electric vehicle sales surged significantly, rising from approximately 8,000 units in 2022 to 37,800 in 2023, and reaching close to 90,000 in 2024, marking a 2.5-times growth compared with the prior year. This rapid electrification trend is creating cascading demand for energy storage solutions, particularly solar batteries that can support EV charging infrastructure and provide backup power for charging stations. The government's commitment to achieving 50% EV penetration in urban areas by 2030 and net-zero emissions by 2050 is accelerating this transition. Vietnamese consumers are increasingly embracing electric mobility due to environmental consciousness, fuel cost savings, and improved charging infrastructure. Moreover, the integration of solar battery systems with EV charging stations is becoming a preferred solution for both residential and commercial users, offering energy independence and reduced electricity costs. Major automotive manufacturers are expanding production capacity, which will substantially increase the Vietnam solar battery market growth as supporting infrastructure requirements multiply across the country.

Comprehensive Government Policy Support and Regulatory Framework

The Vietnamese government has established a robust policy foundation that significantly supports solar battery market expansion through strategic regulatory initiatives. In July 2024, Vietnam issued the landmark Decree No. 80/2024/ND-CP, permitting direct power purchase agreements between private renewable energy generators and large electricity consumers, fundamentally transforming the energy trading landscape. This was followed by Decree 58/2025/ND-CP, providing detailed guidance on renewable energy development with specific incentives for battery storage systems integration, including land use fee exemptions and preferential grid access. These regulatory advances create unprecedented opportunities for solar battery deployment across residential, commercial, and industrial sectors. The government's Power Development Plan VIII outlines a target of installing 73 gigawatts of solar energy and 38 gigawatts of wind energy capacity by 2030, requiring substantial battery storage support for grid stability. Additional incentives include corporate income tax exemptions are making solar battery investments highly attractive for private sector participation and foreign investment.

Declining Battery Costs and Technological Innovation

The global decline in lithium-ion battery prices is revolutionizing the market by making energy storage solutions increasingly accessible to diverse consumer segments. Lithium-ion battery costs reached a historic low of USD 139 per kilowatt-hour in 2023, driven by falling raw material prices and increased production capacity across the battery value chain. Apart from this, Vietnam's domestic battery manufacturing sector is expanding, further demonstrating strong industrial capacity expansion. The country benefits from high-quality nickel reserves that have attracted international mining companies, providing domestic access to critical battery materials. Besides this, technological innovations in Smart Battery Management Systems are becoming increasingly popular, ensuring efficient and durable battery performance through continuous monitoring and control capabilities. Vietnamese manufacturers are investing heavily in research and development to enhance battery performance while minimizing production costs, creating competitive advantages in both domestic and export markets. Also, the combination of cost reductions and performance improvements is driving rapid adoption across residential rooftop solar installations, commercial energy storage projects, and grid-scale renewable energy integration initiatives.

Vietnam Solar Battery 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 type, capacity, and end user.

Type Insights:

• Lead Acid
• Lithium Ion
• Flow Battery
• Others

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes lead acid, lithium ion, flow battery, and others.

Capacity Insights:

• Below 75 AH
• 75 To 150 AH
• Above 150 AH

The report has provided a detailed breakup and analysis of the market based on the capacity. This includes below 75 AH, 75 to 150 AH, and above 150 AH.

End User Insights:

• Industrial
• Commercial
• Residential

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes industrial, commercial, and residential.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets. This includes 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 Solar Battery Market News:

• August 2025: Fluence and ACE Engineering opened a new automated 35GWh utility-scale battery storage system manufacturing facility in Vietnam's Bac Giang Province. The facility significantly expands Vietnam's battery storage manufacturing capacity and positions the country as a key production hub for the Southeast Asian BESS market, leveraging advanced automation technology for improved efficiency.

Vietnam Solar Battery Market Report Coverage:

Key Questions Answered in This Report:

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