Vietnam Solar Energy Market Report by Technology (Solar Photovoltaic (PV), Concentrated Solar Power (CSP) Systems), Application (On-grid, Off-grid), End User (Residential, Commercial, Industrial), and Region 2024-2032

Vietnam Solar Energy Market Report by Technology (Solar Photovoltaic (PV), Concentrated Solar Power (CSP) Systems), Application (On-grid, Off-grid), End User (Residential, Commercial, Industrial), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A15319
Buy Now

Market Overview:

Vietnam solar energy market is projected to exhibit a growth rate (CAGR) of 2.07% during 2024-2032. Shifting preference for sustainable energy, the implementation of favorable government policies, ongoing technological advancements, rapid economic development, and industrialization represent some of the key factors driving the market.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Growth Rate (2024-2032) 2.07%


Solar energy is a sustainable inception of power harnessed from the sun's radiation. It involves the conversion of sunshine into electricity or heat using various technologies, including photovoltaic (PV) panels and solar thermal systems. PV panels, commonly known as solar panels, capture sunlight and convert it into electricity through semiconductor materials like silicon. The process begins when sunlight, composed of tiny packets of energy called photons, strikes the surface of these solar panels, causing the electrons within the cells to become energized and flow, generating a direct electrical current. This electricity can then be used immediately, stored in batteries for later use, or fed into the grid to power homes, businesses, and even entire communities. Solar thermal systems, on the other hand, concentrate sunlight to produce high-temperature heat that can be used for electricity generation or heating applications. Solar energy is clean, sustainable, and environmentally friendly and is an integral part of the global transition towards reducing greenhouse gas emissions and combatting climate change.

Vietnam Solar Energy Market Trends:

Vietnam experiences abundant sunlight throughout the year, making it an ideal location for solar energy generation, which has attracted significant investments in solar projects, both large-scale utility installations and distributed rooftop solar systems, primarily driving the market growth. In line with this, the Vietnamese government has implemented favorable policies and incentives to promote solar energy adoption, including feed-in tariffs, tax exemptions, and preferential loans for solar projects, which is creating a positive outlook for market expansion. Moreover, the increasing awareness of environmental sustainability and the need to reduce carbon emissions are further encouraging businesses and individuals to embrace solar energy as a means of achieving cleaner and more sustainable power sources. Besides this, the declining cost of solar technology, particularly Photovoltaic (PV) panels, has made solar energy more accessible and cost-effective, further driving its adoption. Concurrently, international collaborations and partnerships in the renewable energy sector have facilitated the transfer of knowledge and technology, contributing to the growth of the solar energy market in Vietnam. In addition to this, the country's rapid economic development and industrialization leading to a surge in energy demand, and the evolving grid infrastructure, facilitating the accommodation of a higher penetration of solar energy, ensuring reliable integration into the national power grid are strengthening the market growth. Furthermore, the global shift towards sustainable and eco-friendly energy solutions attracting international investments into Vietnam's solar energy sector along with ongoing technological advancements in solar panel efficiency and energy storage solutions are presenting lucrative opportunities for market expansion.

Vietnam Solar Energy Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on technology, application, and end user.

Technology Insights:

  • Solar Photovoltaic (PV)
  • Concentrated Solar Power (CSP)
     

The report has provided a detailed breakup and analysis of the market based on the technology. This includes solar photovoltaic (PV) and concentrated solar power (CSP).

Application Insights:

  • On-grid
  • Off-grid
     

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes on-grid and off-grid.

End User Insights:

  • Residential
  • Commercial
  • Industrial
     

The report has provided a detailed breakup and analysis of the market based on the end user. This includes residential, commercial, and industrial.

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 in the market. 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 Energy Market Report Coverage:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
  • Technology
  • Application
  • End User
  • Region
Technologies Covered Solar Photovoltaic (PV), Concentrated Solar Power (CSP) Systems
Applications Covered On-grid, Off-grid
End Users Covered Residential, Commercial, Industrial
Regions Covered Northern Vietnam, Central Vietnam, Southern Vietnam
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

  • How has the Vietnam solar energy market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the Vietnam solar energy market?
  • What is the breakup of the Vietnam solar energy on the basis of technology?
  • What is the breakup of the Vietnam solar energy on the basis of application?
  • What is the breakup of the Vietnam a solar energy on the basis of end user?
  • What are the various stages in the value chain of the Vietnam solar energy market? 
  • What are the key driving factors and challenges in the Vietnam solar energy?
  • What is the structure of the Vietnam solar energy market and who are the key players?
  • What is the degree of competition in the Vietnam solar energy 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 energy market from 2018-2032.
  • The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam solar energy 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 energy 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.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Vietnam Solar Energy Market Report by Technology (Solar Photovoltaic (PV), Concentrated Solar Power (CSP) Systems), Application (On-grid, Off-grid), End User (Residential, Commercial, Industrial), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More