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Study Period | 2020 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 39.22 Million |
Market Size (2030) | USD 54.75 Million |
CAGR (2025 - 2030) | 6.90 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Vietnam E-bike Market Analysis
The Vietnam E-bike Market size is estimated at USD 39.22 million in 2025, and is expected to reach USD 54.75 million by 2030, at a CAGR of 6.90% during the forecast period (2025-2030).
Over the medium term, electric bicycles, or e-bikes, seamlessly blend the excitement of cycling with the convenience of motorized transport. Whether for leisurely jaunts or adventurous outings, e-bikes offer a distinctive way to enjoy the outdoors. A key advantage of e-bikes is their prowess in navigating tough terrains, from steep inclines to bumpy paths, challenges that often deter traditional bicycles. This electric motor-driven capability not only elevates the riding experience but also broadens cycling's appeal to a diverse audience.
With growing awareness of their advantages, the e-bike market is poised for significant expansion, presenting a wider array of choices for enthusiasts. In response to escalating environmental and health concerns tied to rising emissions, global governments and organizations are tightening emission standards. This push for stricter vehicle norms underscores the rising demand for e-bikes as a viable solution.
Vietnam's transportation landscape is witnessing a notable shift. The rising popularity of e-bikes is steadily encroaching on the traditional dominance of motorbikes. This transition signals a growing environmental consciousness among the populace. With an increasing number of citizens opting for electric bicycles, Vietnamese streets are becoming quieter and cleaner. This evolution in urban mobility underscores a national commitment to curbing pollution and elevating the quality of urban life across the nation.
Vietnam E-bike Market Trends
Lithium-Ion Battery Dominating the Market
Leading the charge in energy storage technology, lithium batteries are revolutionizing the electric bicycle (e-bike) landscape. Their high energy density enables them to pack more power into a lighter, more compact form than traditional lead-acid batteries. This advantage is paramount for e-bikes, where weight and space directly influence performance and usability.
Beyond energy density, lithium batteries boast a high power density, allowing for rapid power delivery. This capability is vital for e-bikes, ensuring quick acceleration and sustained climbing performance for an optimal ride.
Shifting from lead-acid to lithium-ion batteries trims the battery pack's weight and volume and significantly boosts the e-bike's travel range.
With Lithium batteries, riders can cover greater distances on a single charge, making e-bikes more practical and convenient for commuting and leisure. This transition to lithium-ion technology marks a significant leap in e-bike design and functionality, paving the way for wider adoption and heightened user satisfaction.
While established manufacturers once dominated e-bike battery production, the scene has transformed. An influx of small and medium-sized enterprises has emerged, harnessing innovative techniques and state-of-the-art technologies to craft durable and efficient batteries. This surge of creativity and adaptability enables these companies to carve out distinct niches in a competitive market, catering to consumers' growing demands for enhanced performance and sustainability in their e-bikes.
With the above-mentioned development across the country, the demand for lithium-ion batteries is anticipated to grow in the coming years.
Cargo Bike Hold Significant Growth
Urban and suburban areas are increasingly turning to e-cargo bikes as a green and innovative solution for transporting goods. These electric bicycles, equipped with larger cargo capacities, enable both businesses and individuals to seamlessly transport items, from groceries to packages, without the need for traditional fuel-driven vehicles.
One of the standout benefits of e-cargo bikes is their cost efficiency. When it comes to maintenance, electricity consumption, and overall running expenses, e-cargo bikes significantly undercut conventional fuel vehicles. Even in comparison to small electric vans, e-cargo bikes emerge as the more budget-friendly choice for businesses aiming to trim down their delivery expenses.
Moreover, e-cargo bikes' cost advantages resonate in transportation rates, making them a sought-after choice for logistics and delivery services. With urban areas facing mounting challenges from traffic congestion and environmental issues, e-cargo bikes present a sustainable solution, helping to cut down emissions and ease road traffic woes.
Beyond their economic allure, the e-cargo bike market is poised for growth, bolstered by supportive government regulations. Recognizing the myriad benefits of e-cargo bikes, governments are rolling out policies and incentives to champion their adoption. This encouraging regulatory landscape is set to fuel the growth and acceptance of e-cargo bikes across diverse sectors, painting a promising picture for the market's future.
With the above-mentioned development across the country, the demand for electric cargo bikes is anticipated to grow in the coming years.
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Vietnam E-bike Industry Overview
Vietnam's E-bike Market is dominated by several key players such as Vinfast LLC, Pega PEGA LTT, Yadea Technology Group Co., Ltd., Gaint Manufacturing Co. Ltd., and Others. The growing health awareness among the younger generation is expected to boost the demand for e-bikes. The introduction of new models and technologies by manufacturers is likely to drive significant growth in the market during the forecast period. For instance,
- In August 2023, The Hanoi department rolled out a public bicycle and electric bike service. The initiative offers 1,000 bicycles, with 500 being electric, spread across 79 rental stations. Strategically positioned near bus stops, parks, and tourist attractions, these stations ensure easy access for users.
- In July 2023, VinFast LLC made its debut in Vietnam's burgeoning e-mobility market with the launch of its first electric bike model. This new e-bike underscores the company's dedication to sustainable innovation, offering an eco-friendly transportation alternative. Boasting contemporary design, cutting-edge technology, and intuitive features, the model is tailored to meet the varied demands of Vietnam's urban commuters. Through this launch, VinFast positions itself as a key player in promoting electric vehicle adoption in the area.
Vietnam E-bike Market Leaders
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VinFast Auto, LLC
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Giant Manufacturing Co., Ltd.
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Yadea Technology Group Co.,Ltd.
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PEGA LTT
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DYNEM (INKODOP TECHNOLOGIES PRIVATE LIMITED)
- *Disclaimer: Major Players sorted in no particular order
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Vietnam E-bike Market News
- January 2024: Yadea Technology Group Co., Ltd. invested a substantial USD 100 million to upgrade its second manufacturing facility in Vietnam. This strategic initiative is designed to amplify the company's production capacity for electric bikes (e-bikes), positioning Yadea to better cater to the surging market demand and reinforcing its leadership in sustainable transportation. The expansion promises not only an uptick in output but also heralds a new era of innovation and efficiency in e-bike manufacturing.
- January 2024: Hanoi's Department of Transport has launched its first dedicated bike lane, aiming to boost cycling safety and promote sustainable transport. The new lane, stretching 4 kilometers and 4 meters wide, runs parallel to the scenic To Lich River, passing through the lively Cau Giay and Dong Da districts. This move seeks to enhance the cycling experience and champion eco-friendly commuting in the city.
Vietnam E-bike Industry Segmentation
An electric bike, also known as an e-bike, is a bicycle that has an electric motor that helps the user to pedal. A bike-mounted rechargeable battery will supply the motor with power.
Vietnam's E-bike Market is segmented by propulsion type, application type, and battery type. By propulsion type, the market is segmented by Pedal Assisted and Throttle Assisted. By application type, the market is segmented by City/Urban, Trekking (E-mountain bikes/MTB), and Cargo. By battery type, the market is segmented into lithium-ion batteries and lead-acid batteries. For each segment, the market sizing and forecast have been done based on the value (USD).
By Propulsion Type | Pedal Assisted |
Throttle Assisted | |
By Application Type | City/Urban |
Trekking (E-Mountain Bikes/MTB) | |
Cargo | |
By Battery Type | Lithium-Ion Battery |
Lead Acid Battery |
Vietnam E-bike Market Research FAQs
How big is the Vietnam E-bike Market?
The Vietnam E-bike Market size is expected to reach USD 39.22 million in 2025 and grow at a CAGR of 6.90% to reach USD 54.75 million by 2030.
What is the current Vietnam E-bike Market size?
In 2025, the Vietnam E-bike Market size is expected to reach USD 39.22 million.
Who are the key players in Vietnam E-bike Market?
VinFast Auto, LLC, Giant Manufacturing Co., Ltd., Yadea Technology Group Co.,Ltd., PEGA LTT and DYNEM (INKODOP TECHNOLOGIES PRIVATE LIMITED) are the major companies operating in the Vietnam E-bike Market.
What years does this Vietnam E-bike Market cover, and what was the market size in 2024?
In 2024, the Vietnam E-bike Market size was estimated at USD 36.51 million. The report covers the Vietnam E-bike Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam E-bike Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Vietnam E-bike Industry Report
Statistics for the 2025 Vietnam E-bike market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam E-bike analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.