The Vietnam automotive rocker panel market was valued at USD 239.27 Million in 2025 and is forecasted to reach USD 321.88 Million by 2034, growing at a CAGR of 3.35% from 2026-2034. Growth is driven by increased vehicle production, significant foreign investments from Chinese and Japanese manufacturers, and government policies favoring domestic automotive manufacturing. Emphasis on safety standards and structural integrity further propels market expansion. 

Study Assumption Years

• Base Year: 2025

• Historical Year/Period: 2020-2025

• Forecast Year/Period: 2026-2034

Vietnam Automotive Rocker Panel Market Key Takeaways

• Market Size: USD 239.27 Million in 2025

• CAGR: 3.35% (2026-2034)

• Forecast Period: 2026-2034

• Lower quarter panels lead with a 56% market share in 2025, serving as essential protective and structural components across all vehicle types.

• Light duty vehicles dominate with 54% share in 2025, driven by urbanization and rising middle-class purchasing power.

• Original equipment manufacturers (OEMs) hold the largest sales channel share at 59% in 2025, emphasizing domestic assembly focus.

• Stainless steel is the preferred material with a 53% share, favored for corrosion resistance in Vietnam's tropical climate.

• Northern Vietnam accounts for the largest regional share at 38% in 2025 due to concentrated manufacturing facilities and steel hubs.

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Market Growth Factors

The automotive rocker panel market in Vietnam is expected to increase because of the growth in automotive manufacturing sector in Vietnam. Automobile production in Vietnam reached 388,500 vehicles in 2024. It increased twenty-seven percent from 2023. In Vietnam, vehicle manufacturing is the main driver of industrial development. This is due to investments made by foreign automakers including Chinese companies, along with the high demand for components supplied by the local automobile component manufacturers.

Government policies and foreign direct investment incentives have been increasingly influential drivers for the developing market, including a 0% registration tax on battery electric vehicles until 2026. Alongside government supports for EV registrations and investment incentives likely to continue in future years, capacity addition, technology integration and supply chain participation of original equipment manufacturers (OEMs) will drive domestic demand and ASEAN regional EV export growth.

Domestic manufacturing and supply chain is the foundation to reduce Vietnam's current heavy reliance on parts and components from Thailand, Indonesia, and Japan. Domestic supply chain and the people in the local supply chain must be built in order to win OEM contracts, achieve market share in the place of importers, and gain cost advantages compared to imports.

Market Segmentation

Type:

• Lower Quarter Panels: Commanding 56% market share in 2025, these panels protect vehicle lower body structures beneath doors and reinforce chassis integrity across all vehicle types. Their durability and corrosion resistance suit Vietnam’s tropical climate, making them essential for both OEM and aftermarket segments.

Vehicle Type:

• Light Duty Vehicles: Holding 54% of the market in 2025, LDVs include passenger cars, hatchbacks, sedans, and compact SUVs used primarily for personal and urban transportation. Rising urbanization and disposable incomes increase demand, supported by electric and hybrid vehicle growth boosting component needs.

Sales Channel:

• Original Equipment Manufacturers (OEMs): Representing 59% market share in 2025, OEMs directly integrate rocker panels into new vehicles ensuring quality and compliance. Increasing vehicle production and collaborations for customized panels reinforce this segment’s dominance.

Material:

• Stainless Steel: Leading with 53% share in 2025, stainless steel offers superior corrosion resistance and durability, critical for Vietnam’s environment. Its recyclability and compatibility with advanced manufacturing sustain its preference among automakers.

Region:

• Northern Vietnam: With a 38% market share in 2025, it is the primary region due to its industrial base, concentration of automotive manufacturing facilities, and proximity to steel production hubs and logistics infrastructure.

Regional Insights

Northern Vietnam is the dominant region in the automotive rocker panel market with a 38% market share in 2025. The region benefits from a strong industrial base, major assembly plants, and component suppliers, particularly around Hanoi. Well-developed infrastructure, skilled labor, and strategic location near ports support high demand. Government incentives and foreign investments further solidify its leading position.

Recent Developments & News

The market has seen significant foreign investment activities, notably Geely’s joint venture with Tasco in Thai Binh, establishing a facility with a 75,000 units annual capacity and a $168 million investment commencing early 2025. Vietnamese brand VinFast was the top-selling brand in late 2024 with substantial domestic deliveries, exemplifying rapid demand growth. Additionally, the entry of seven new Chinese automotive brands in 2024, including BYD, Omoda, and Jaecoo, have increased competition and demand for locally manufactured rocker panels.

Key Players

• Geely

• Tasco

• VinFast

• BYD

• Omoda

• Jaecoo

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