The Vietnam renewable energy market reached a size of USD 4,274.1 Million in 2025. The market is projected to reach USD 10,618.2 Million by 2034, growing at a CAGR of 10.64% during 2026-2034. Growth is driven by abundant resources like sunlight and wind, along with technological advances and increased focus on environmental conservation.

Study Assumption Years

• Base Year: 2025

• Historical Year/Period: 2020-2025

• Forecast Year/Period: 2026-2034

Vietnam Renewable Energy Market Key Takeaways

• The market size reached USD 4,274.1 Million in 2025.

• The market is forecasted to grow at a CAGR of 10.64% during 2026-2034.

• The forecast period for the analysis is 2026-2034.

• Vietnam benefits from abundant renewable energy resources, including ample sunlight and strong wind.

• Rapid urbanization and increasing energy demand are primary drivers supporting market expansion.

• The government promotes renewable energy through feed-in tariffs, tax incentives, and simplified approval processes.

• Financial institutions increasingly offer loans tailored to renewable energy projects, reducing investment barriers.

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Market Growth Factors

Factors such as Vietnam's potential for sunlight and wind in many locations, and improved efficiency and technology causing the cost of building renewable energy sources including solar panels and wind turbines to decrease in recent years, have resulted in the growth of the country's renewable energy sector and attracted investment in renewable energy production.

Rapid urbanization and the increasing demand for energy in the country requires reliable and sustainable electricity generation. Renewable energy development such as solar and wind power generation has been implemented to address electricity shortages and improve energy security and sustainability.

The support of the government policies, such as feed-in tariffs (FiTs), tax exemption, and simplification of project approval channels can help broaden the market. Furthermore, the provision of loans and credit from financial institutions to finance renewable energy projects can help overcome domestic and foreign investment financing constraints.

Market Segmentation

• Type Insights:

The market is segmented by type into Wind, Solar, Hydro, and Others. These segments reflect the diverse renewable energy sources exploited in Vietnam, each contributing to the overall market expansion due to resource availability and technological maturity.

• End User Insights:

The end user segmentation includes Industrial, Residential, and Commercial sectors. This categorization highlights the distribution of renewable energy consumption across different sectors, indicating widespread adoption and utilization across multiple facets of the economy.

Regional Insights

The market report covers the three major regional markets of Vietnam: Northern Vietnam, Central Vietnam, and Southern Vietnam. The geographical diversity across these regions supports various renewable energy projects, leveraging localized resource abundance and contributing to overall national market growth.

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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