Vietnam Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Vietnam Solar Energy Market Size & Share and It is Segmented by Technology (Photovoltaic (PV) and Concentrated Solar Photovoltaic (CSP)). The Report Offers Market Sizes and Forecasts in Installed Capacity for all the Above Segments.

Vietnam Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Vietnam Solar Energy Market Size

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Vietnam Solar Energy Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 18.81 gigawatt
Market Volume (2030) 25.12 gigawatt
CAGR 5.96 %
Market Concentration Medium

Major Players

Vietnam Solar Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Vietnam Solar Energy Market with other markets in Energy & Power Industry

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Vietnam Solar Energy Market Analysis

The Vietnam Solar Energy Market size in terms of installed base is expected to grow from 18.81 gigawatt in 2025 to 25.12 gigawatt by 2030, at a CAGR of 5.96% during the forecast period (2025-2030).

  • Over the medium period, the increasing investments in the renewable energy industry, increasing electricity demand in major provinces, and the country's growing efforts to transition from fossil fuel-based power generation are among the factors expected to drive the market during the forecast period.
  • On the other hand, market growth is also expected to be hindered by the increasing adoption of alternative clean energy sources and high initial investment costs of solar projects during the study period.
  • Nevertheless, Vietnam's Power Development Plan VII intends to boost the share of renewable energy to 10% in eight years. The country also plans to reduce the use of imported coal-fired electricity, culminating in a major opportunity for its solar energy market.

Vietnam Solar Energy Industry Overview

The Vietnamese solar energy market is semi-consolidated. Some of the major companies operating in the market (in no particular order) include Song Giang Solar Power JSC, Vietnam Sunergy Joint Stock Company, Sharp Energy Solutions Corporation, Berkeley Energy Commercial & Industrial Solutions, and Tata Power Solar Systems Ltd.

Vietnam Solar Energy Market Leaders

  1. Vietnam Sunergy Joint Stock Company

  2. Sharp Energy Solutions Corporation

  3. Berkeley Energy Commercial & Industrial Solutions

  4. Tata Power Solar Systems Ltd.

  5. Song Giang Solar Power Joint Stock Company

  6. *Disclaimer: Major Players sorted in no particular order
Vietnam Solar Energy Market Concentration
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Vietnam Solar Energy Market News

  • December 2024: Bamboo Capital Group from Vietnam, alongside Taiwanese firms Foxlink and Micro Electricity, inked a strategic cooperation agreement aimed at propelling renewable energy technologies and solutions. The trio will work together to craft energy technology and data service solutions, catering not only to Bamboo Capital’s renewable projects but also to other clients throughout ASEAN. A joint venture, set to be established by June 2025, will act as a springboard for pioneering technologies such as Energy Storage Systems (ESS), Energy Management Systems (EMS), and Energy Blockchain Technology (EBT).
  • July 2024: Levanta Renewables, a prominent renewable energy platform in Southeast Asia and backed by global sustainable infrastructure investor Actis, has set its sights on acquiring a 28.7 MWp rooftop solar system. This system, sourced from affiliates of Tien Nga Joint-Stock Company, stands as a testament to Tien Nga's stature as a leading logistics provider in Vietnam. Nestled in Dong Nai Province, South Vietnam, this solar installation boasts the distinction of being one of the nation's largest, covering nearly 200,000 sqm of rooftop space.

Vietnam Solar Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Renewable Energy Mix, Vietnam, 2024
  • 4.3 Solar Energy Installed Capacity and Forecast, till 2030
  • 4.4 Government Policies and Regulations
  • 4.5 Recent Trends and Developments
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.1.1 Increasing Investments in the Renewable Energy Industry
    • 4.6.1.2 Increasing Electricity Demand in Major Provinces
    • 4.6.2 Restraints
    • 4.6.2.1 Increasing Adoption of Alternative Clean Energy Sources
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis
  • 4.9 Investment Analysis

5. MARKET SEGMENTATION - TECHNOLOGY

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

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Song Giang Solar Power Joint Stock Company
    • 6.3.2 Vietnam Sunergy Joint Stock Company
    • 6.3.3 Sharp Energy Solutions Corporation
    • 6.3.4 Tata Power Solar Systems Ltd
    • 6.3.5 Shire Oak International Limited
    • 6.3.6 B.Grimm Power Public Company Limited
    • 6.3.7 VU Phong Energy Group JSC
    • 6.3.8 Longi Green Energy Technology Co. Ltd
    • 6.3.9 Trina Solar Co Ltd.
    • 6.3.10 Berkeley Energy Commercial & Industrial Solutions
  • *List Not Exhaustive
  • 6.4 List of Other Prominent Companies
  • 6.5 Market Ranking Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Vietnam's Power Development Plan VII Intends to Increase the Share of Renewable Energy
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Vietnam Solar Energy Industry Segmentation

Solar energy comprises heat and radiant light from the sun that can be harnessed by leveraging technologies such as solar power (used to generate electricity) and solar thermal energy (used for applications such as water heating).

The Vietnamese solar energy market is segmented by technology. By technology, the market is segmented into solar photovoltaic (PV) and concentrated solar power (CSP). For each segment, the market sizing and forecasts have been done based on installed capacity.

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Vietnam Solar Energy Market Research Faqs

How big is the Vietnam Solar Energy Market?

The Vietnam Solar Energy Market size is expected to reach 18.81 gigawatt in 2025 and grow at a CAGR of 5.96% to reach 25.12 gigawatt by 2030.

What is the current Vietnam Solar Energy Market size?

In 2025, the Vietnam Solar Energy Market size is expected to reach 18.81 gigawatt.

Who are the key players in Vietnam Solar Energy Market?

Vietnam Sunergy Joint Stock Company, Sharp Energy Solutions Corporation, Berkeley Energy Commercial & Industrial Solutions, Tata Power Solar Systems Ltd. and Song Giang Solar Power Joint Stock Company are the major companies operating in the Vietnam Solar Energy Market.

What years does this Vietnam Solar Energy Market cover, and what was the market size in 2024?

In 2024, the Vietnam Solar Energy Market size was estimated at 17.69 gigawatt. The report covers the Vietnam Solar Energy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Solar Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Vietnam Solar Energy Industry Report

The Vietnam Solar Energy Market Report is segmented by technology, focusing on photovoltaic (PV) and concentrated solar photovoltaic (CSP). This industry report highlights significant market growth driven by rapid industrialization, economic development, and favorable government policies. The market size and market share are expected to increase due to the declining costs and versatility of PV technology. The industry outlook is positive, with applications spanning on-grid and off-grid systems, catering to residential, commercial, and industrial sectors.

Regional insights indicate widespread solar energy adoption across Northern, Central, and Southern Vietnam. The industry overview suggests that environmental sustainability and international collaborations are key drivers, with technological advancements in solar panel efficiency and energy storage further bolstering the market. The report PDF download provides detailed industry statistics and market forecast, offering a comprehensive market analysis and industry analysis for stakeholders.

The market growth is supported by governmental incentives and efforts to reduce carbon emissions, creating a conducive environment for solar energy adoption. The industry trends and market segmentation indicate a diverse and expanding market structure. The market outlook and market review show a promising future for renewable energy companies in Vietnam, with market leaders benefiting from the favorable conditions.

The industry information and market data included in the report example provide valuable insights for research companies and industry reports. The industry research and market predictions highlight the potential for continued growth in the Vietnam solar energy market. The industry sales and market value are expected to rise, driven by the increasing emphasis on sustainability and technological advancements.

The report also includes a market overview and market segmentation, detailing the various applications and regional adoption of solar energy. The market forecast and industry size provide a historical overview and future projections, ensuring a comprehensive understanding of the market dynamics. The industry trends and market leaders are identified, offering a clear picture of the competitive landscape.

In conclusion, the Vietnam Solar Energy Market Report is a valuable resource for stakeholders, providing detailed industry statistics, market growth projections, and insightful analysis. The report PDF is available for download, offering a thorough examination of the market size, market share, and industry forecast. The industry outlook remains positive, with continued support from governmental policies and technological innovations driving the market forward.