Industry Overview
The Vietnam Electric Two-Wheeler Market is predicted to grow at 6.8% CAGR during the forecast period in terms of its revenue size. The Vietnam market is primarily driven by supportive government regulations and increasing awareness regarding the use of electric vehicles. Different products including e-scooters and e-bikes are majorly contributing to the electric two-wheeler market size in Vietnam. The market has witnessed significant demand for these products over the last few years with the increasing per capita income and developing transport infrastructure.
Market Segmentation
Insight by Product
Based on product, the market is categorized into e-scooters, e-bikes, e-motorcycles, and others. E-scooters hold the largest share in the Vietnam market, in terms of revenue as well as fleet size. E-motorcycles are anticipated to witness the fastest growth of 19.1% in terms of fleet size during the forecast period.
Insight by Battery Type
Based on battery type, the market is segmented into sealed lead acid, Li-ion, and NiMH. Of all, sealed lead acid is the most common type of battery used in electric two-wheelers in Vietnam. Lower prices are the primary reason behind the highest share of sealed lead acid batteries in the Vietnam electric two-wheelers market.
Insight by Battery Technology
Based on battery technology, the market is categorized into removable batteries and non-removable batteries. Of both categories, non-removable batteries are majorly used in the market as it is convenient for electric two-wheelers to plug in and charge batteries instead of removing and charging indoors.
Insight by Voltage
Based on voltage, the market is segmented into 24V, 36V, 48V, 60V, 72V. Of all, 48V electric two-wheelers hold the largest share in the Vietnam electric two-wheeler market, followed by 36V two-wheelers.
VIETNAM ELECTRIC TWO_WHEELERS MARKET HIGHLIGHT
Industry Dynamics
Despite minimal government support for electric vehicles in Vietnam, consumer awareness has led to the massive adoption of light electric vehicles in the country Although, the government is showing intent the adopt green technology for transport, lack of clear definitions, and find it is hard to implement hybrid vehicles policy in the country. However, Vietnam's electric vehicles are immune from tariffs as the country is a signatory to free trade agreements such as the ASEAN Trade in Goods Agreement (ATIGA), and the ASEAN-Republic of Korea FTA.
Global Vietnam Electric Two-Wheeler Market Report Coverage
Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. XX Billion
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Revenue Forecast in 2030
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U.S.D. XX Billion
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Growth Rate
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6.8%
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Segments Covered in the Report
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Product,Battery Type,Battery Technology,Voltage
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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Vietnam
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Competitive Insight
Schneider Electric Vietnam, Tan Thanh Nhan Co., Ltd., and Pega LttGlobal Electric Bike JSC are some of the key players operating in the Vietnam electric two-wheeler market.
The Vietnam Electric Two-Wheeler Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- Product
- E-scooters
- E-bikes
- E-motorcycles
- Others
- Battery Type
- Sealed Lead Acid
- Li-ion
- Ni-MH
- Technology
- Voltage
PRIMARY RESEARCH INTERVIEWS - BREAKDOWN