Vietnam Energy Management Market Projected to Expand at 10% CAGR Through 2030
The Vietnam Energy Management Market size is valued at around USD 200 million in 2024 & is projected to reach USD 320 million by 2030. The market is also estimated to grow at a CAGR of around 10% during the forecast period, i.e., 2025-30. The growth in Vietnam's energy management market is driven by the need for regulatory requirements that demand electricity conservation and preservation from loss measures. This is under the periodic guidelines issued by the government under the National Energy Efficiency Programme that provides its targets. This is because of the country’s massive electricity consumption surge due to rapid industrialization. The electricity demand is so intense that the country faces repeated blackouts due to power shortages.
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Strategic Takeaways from the Report:
- Market Sizing and Forecasting
- Regulatory and Policy Influence
- Competitive Trends and M&A Activity
- Innovation Drivers and Disruptive Technologies
- Investment Hotspots and Emerging Niches
- Geographical Dynamics and Trade Flows
Vietnam Energy Management Market Segment Overview & Classification
This market is categorized to offer targeted insights across various operational and consumer-related verticals.
Segment List:
By Component
- Hardware
- Sensors - Market Size & Forecast 2020-2030F, USD Million
- Controllers - Market Size & Forecast 2020-2030F, USD Million
- Computer Servers - Market Size & Forecast 2020-2030F, USD Million
- Display Devices - Market Size & Forecast 2020-2030F, USD Million
- Others - Market Size & Forecast 2020-2030F, USD Million
- Software
- Supervisory Control and Data Acquisition (SCADA) - Market Size & Forecast 2020-2030F, USD Million
- Advanced Distribution Management Solution (ADMS) - Market Size & Forecast 2020-2030F, USD Million
- Outage Management System (OMS) - Market Size & Forecast 2020-2030F, USD Million
- Generation Management System (GMS) - Market Size & Forecast 2020-2030F, USD Million
- Others - Market Size & Forecast 2020-2030F, USD Million
- Service - Market Size & Forecast 2020-2030F, USD Million
The hardware segment has the largest market share accounting for more than 50% in the Vietnam Energy Management Market. This is primarily due to the extensive requirement of hardware such as sensors, controllers, smart meters, computer servers, and display devices for effective integration and management of energy management systems. Vietnam is going through a massive industrialization which has raised the economic activities in the country. This escalation in the country’s economy has drastically increased the power consumption of the country. For instance, the Vietnamese Government highlights that the power consumption in the country will grow annually at the rate of around 10-12% till 2030.
The country is planning to invest around USD 12.8 billion per year till 2030 in its power sector for electricity development. This has led to the massive expansion of power generation sources and plants and the expansion and upgradation of power grids in the country. This expansion will also happen under the guidelines of the National Energy Efficiency Programme. It would lead to the deployment of energy management solutions, thereby expanding the demand for the hardware necessary for energy efficiency and management in the country.
By Communication Technology
- Wired - Market Size & Forecast 2020-2030F, USD Million
- Wireless - Market Size & Forecast 2020-2030F, USD Million
By Offerings
- Industry/ Factory Energy Management Systems - Market Size & Forecast 2020-2030F, USD Million
- Building Energy Management Systems - Market Size & Forecast 2020-2030F, USD Million
- Others - Market Size & Forecast 2020-2030F, USD Million
By End-User
- Corporates - Market Size & Forecast 2020-2030F, USD Million
- Industries - Market Size & Forecast 2020-2030F, USD Million
- Retail Malls - Market Size & Forecast 2020-2030F, USD Million
- Residential Units - Market Size & Forecast 2020-2030F, USD Million
- Government - Market Size & Forecast 2020-2030F, USD Million
- Hospitality - Market Size & Forecast 2020-2030F, USD Million
- Healthcare - Market Size & Forecast 2020-2030F, USD Million
- Educational Institutes - Market Size & Forecast 2020-2030F, USD Million
- Others - Market Size & Forecast 2020-2030F, USD Million
Industries are the leading segment with a market share of more than 20% in the Vietnam Energy Management Industry. In Vietnam, Industries represent nearly 39% of the contribution towards the country’s GDP and are also responsible for employing around 31% of the country’s workforce. The demand for energy management solutions is driven by the increasing industrialization. For instance, the country has seen a 22% rise in registered enterprises from industry from 127, 340 in 2019 to 155,275 in 2023.
Additionally, the registered manufacturing companies also saw a rise of 20% in the same period to 138,106 in 2023, according to the National Office of Statistics of Vietnam. The rapidly developing manufacturing sector of the country with its burgeoning expansion into electronics due to the China+1 trend because of the rising geopolitical tensions between the USA and China. The electronics industry represents around 30% of Vietnam’s exports and around 18% of the manufacturing industry. This will further boost the demand for energy management solutions in the country due to the regulatory requirement as the industries consume a significant electricity.
By Region
- Northern - Market Size & Forecast 2020-2030F, USD Million
- Central - Market Size & Forecast 2020-2030F, USD Million
- Southern - Market Size & Forecast 2020-2030F, USD Million.
The Southern Region of Vietnam has the largest market share of more than 39% in the Vietnam Energy Management Market. The southern region houses the biggest portion of the population and the regulatory requirements for electricity conservation and prevention of its loss continue to drive the market demand for energy management solutions. Additionally, the region is also a major industrial hub due to its significant contribution to the country’s GDP representing more than 30% of it. Moreover, the region has also received the highest FDI inflows amongst all three regions with nearly ~36% of the import and export contribution of the country. These scenarios highlight the region's massive power consumption that is bound to grow substantially in the foreseeable future. This indicates the region's huge need for energy management solutions that will continue to rise and drive the growth of the Vietnam Energy Management Market over the forecasted period.
These divisions help clarify demand patterns and expected shifts.
Market Opportunities
Growth in the Deployment of Renewable Energy – The world is witnessing an increase in greenhouse gases due to rapid industrialization resulting in climate change phenomena, rapid changes in weather conditions, and extreme weather situations in many parts of the world. Each country intends to reduce its carbon emissions and focus on net-zero targets in a short time by transitioning toward sustainable development and utilizing renewable sources of energy for all of its energy needs. Following the same, Vietnam also targets to achieve net-zero emissions by 2050.
This has led to the development of energy-efficient policies and massive deployment of renewable energy plants. For instance, Vietnam’s renewable energy output has risen rapidly rising from 997 GWh in 2018 to an impressive 37,865 GWh in 2022. The government of Vietnam has launched an ambitious program, the National Power Development Master Plan (PDP VIII) for its electricity requirements. Under this, the country will double its national electricity output to 129,500 MW by 2030.
These plans align with the country’s emission targets and plan to reduce the dependency on fossil fuels with renewable energy solutions and cleaner options like gas power. These projects will need energy management solutions to reduce energy loss and conserve excess electricity based on the regulatory guidelines. This will boost the demand for energy management solutions in the country.
Vietnam Energy Management Market Competitive Snapshot from 2025-2030
The report highlights established and emerging players in the global Vietnam Energy Management Market, evaluating their strengths, challenges, and potential for innovation.
Key Competitors Include:
- ABB
- Siemens
- Honeywell
- Schneider Electric
- Johnson Control
- General Electric
- 8Elements Smart Energy
- Yokogawa Vietnam Company Ltd.
- Green Yellow (Vietnam)
- Hitachi Energy (Vietnam)
Their activities include partnerships, product launches, and geographic expansions.
Vietnam Energy Management Industry Prime Challenge
Rising Cyber Attack in Vietnam – Vietnam has been going through massive digitalization. This has led to the increase in the digital landscape of the country which is now more susceptible to cyber-attacks. These developments have led to a growing number of cyber-attacks on the country's critical infrastructure like power by cyber adversaries. For instance, the country faced around 14,000 ransomware attacks which is an increase of 8.4% compared to last year according to the Ministry of Public Security’s Department of Cyber Security and High-Tech Crime Prevention. These have resulted in massive data leaks and exposed around 12.3 million lines of private data. The adoption of technology such as cloud, AI, and IoT for smart energy management solutions due to the escalating energy needs of the country can increase the cyber risks of the energy sector. This can negatively impact the growth & expansion of the energy management solutions in the country.
Frequently Asked Questions (FAQs):
- What industries are most impacted by this market?
- How is technology reshaping operations and offerings?
- Which competitors dominate the landscape?
- What risks could disrupt market expansion?
- How should businesses respond to demand fluctuations?
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