Vietnam Wind Energy Market Size, Share, Trends and Forecast by Component, Rating, Installation, Turbine Type, Application, and Region, 2025-2033

Vietnam Wind Energy Market Overview:

The Vietnam wind energy market size reached USD 448.00 Million in 2024. Looking forward, the market is projected to reach USD 1,129.66 Million by 2033, exhibiting a growth rate (CAGR) of 9.69% during 2025-2033. The market is witnessing significant growth, propelled by growing electricity demand, supportive government policies, and the shift toward cleaner energy sources. Increasing investment in offshore and onshore wind projects is strengthening the country’s renewable capacity. Technological advancements and declining equipment costs are further enhancing project viability. With a focus on sustainability and energy security, the sector is set for expansion, contributing to the overall Vietnam wind energy market share.

Vietnam Wind Energy Market Trends:

Rising Offshore Wind Development

Vietnam’s extensive coastline and robust wind resources are establishing the country as an essential location for offshore wind initiatives. Developers are increasingly turning their attention to offshore locations in order to take advantage of greater and more stable wind speeds compared to onshore options. This transition is enhancing energy efficiency while also aiding in the diversification of Vietnam’s renewable energy portfolio. Offshore wind development is being bolstered by supportive policies, long-term power purchase agreements, and interest from global investors eager to tap into the nation’s renewable potential. For instance, in July 2025, Vietnam's Ministry of Industry and Trade set offshore wind tariffs between VND 3,078.9 and VND 3,975.1 per kWh, aiming to boost industry growth. The first project is expected to begin by the end of 2025, with the pricing reflecting regional capacity factors and investment costs. Moreover, advancements in turbine technology and grid connectivity are making large-scale offshore projects more viable and cost-effective. These efforts are anticipated to accelerate Vietnam wind energy market growth, as offshore capacity becomes a vital factor in the country’s clean energy transformation and long-term energy security objectives.

Foreign Investment Inflows

Foreign investment is playing a pivotal role in shaping the future of Vietnam’s wind energy sector. International developers and financiers are increasingly entering the market, contributing capital along with advanced technology, project expertise, and global best practices. In July 2025, Laos officially launched the Monsoon Wind Farm, ASEAN's largest onshore wind project, exporting electricity to Vietnam. This marks ASEAN's first cross-border wind initiative. The project, featuring 133 turbines with 600 MW capacity, aims to enhance regional energy cooperation and integration. This surge in investment is facilitating the growth of large-scale wind projects, particularly in offshore regions where significant resources remain untapped. Collaborations between local companies and foreign investors are hastening project implementation, enhancing technical standards, and ensuring smoother integration into the national grid. Furthermore, the financial support from global entities is helping to mitigate project risks, attract additional investment, and bolster overall market confidence. Such international collaboration is vital for Vietnam to achieve its renewable energy goals and strengthen its clean energy infrastructure, ultimately positioning the country as a competitive player in the regional wind energy landscape.

Vietnam Wind Energy 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 component, rating, installation, turbine type, and application.

Component Insights:

• Turbine
• Support Structure
• Electrical Infrastructure
• Others

The report has provided a detailed breakup and analysis of the market by component. This includes turbine, support structure, electrical infrastructure, and others.

Rating Insights:

• ≤ 2 MW
• >2 ≤ 5 MW
• >5 ≤ 8 MW
• >8 ≤ 10 MW
• >10 ≤ 12 MW
• > 12 MW

A detailed breakup and analysis of the market based on the rating have also been provided in the report. This includes ≤ 2 MW, >2 ≤ 5 MW, >5 ≤ 8 MW, >8 ≤ 10 MW, >10 ≤ 12 MW, and > 12 MW.

Installation Insights:

• Offshore
• Onshore

The report has provided a comprehensive analysis of the market based on installation. This includes offshore and onshore.

Turbine Type Insights:

• Horizontal Axis
• Vertical Axis

A detailed breakup and analysis of the market based on the turbine type have also been provided in the report. This includes horizontal axis and vertical axis.

Application Insights:

• Utility
• Industrial
• Commercial
• Residential

The report has provided a detailed breakup and analysis of the market by application. This includes utility, 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, 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 Wind Energy Market News:

• In July 2025, Vietnam and Germany established an energy partnership to enhance renewable energy initiatives, particularly offshore wind, and improve energy efficiency. The agreement, signed in Berlin, aims to accelerate Vietnam's energy transition. Additionally, Vietnam is collaborating with Malaysia and Singapore to share power from its offshore wind farms.
• In March 2025, Quang Tri province in central Vietnam announced its plans to add 2,300 MW of wind power to its power development plan, including 1,800 MW from land-based and 500 MW from offshore projects. By 2030, the province aims to import 2,000 MW from Laos and enhance its power grid infrastructure.

Vietnam Wind Energy Market Report Coverage:

Key Questions Answered in This Report:

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