Electricity
is a form of energy resulting from an existence of charged particles for
instance electrons or protons, either dynamically as a current or statically as
an accumulation of charge. It is a very appropriate way to transfer energy, and
it has been adapted to a massive and growing number of uses. It is generated in
numerous different ways. All of these methods require either a flow or fuel.
Flows include wind, tides, and solar while Fuels for generation include natural
gas, coal, and uranium. It is used in electric lights, heaters, powering
phones, computers, pacemakers, televisions, and even some cars
The key advantages are included transportable
over long distances, doesn't require as many employees, reduces greenhouse
emissions, can be set up in many sizes, renewable, low maintenance costs and
can be used to produce many forms of radiant energy for instance microwaves,
radio waves, radiant heat and light. Apart from this, few of the disadvantages
are included high investment costs and dependent on precipitation.
According to study, “Vietnam Electricity Comprehensive Report Q4/2019”
the key companies operating in the Vietnam electricity market are Southern
Power Corporation-EVNSPC, Hanoi Power Company-EVNHANOI, Ho Chi Minh Power
Company-EVNHCMC, Hai Phong Thermal Power Joint Stock Company, Central Power
Corporation-EVNCPC, Pha Lai Thermal Power Joint Stock Company, Quang Ninh
Thermal Power Joint Stock Company, Mekong Energy Company, BOT Phy My 3 Power
Company Limited.
Based on sources, Vietnam electricity market is segmented into hydropower, nuclear
wind, fossil fuels, solar, and biomass. Hydropower is one of the most commonly
used renewable energy source, which characterizes its cosmic share in the
overall renewable energy produced. Based on application, market is segmented
into electric cells (batteries) and power stations. Electric cells are safe, portable
and supply a little electricity. Power stations supply a lot of electricity and
used in many electrical appliances. In addition, based on end-use industries,
market is segmented into residential, industrial, and commercial. The
industrial segment is further sub-segmented into iron & steel, food &
beverage, power, chemicals & petrochemicals, oil & gas, automotive and
others.
The Vietnam
electricity market is driven by increase in government funding &
continuous technological advancements, followed by rise in integration of
renewable grids with smart grid technology, significant increase in research
& development (R&D) activities, rise in industrialization, increase in
shift towards low-carbon or no-carbon technologies for instance solar, wind,
and hydropower, preference in decreasing greenhouse gases (GHGs) emissions and
growth in concern about safety & security of the environment. However, limited
presence of fossil fuel may impact the market. Moreover, growth in inception of
the new business models and rise in electrical vehicle are key opportunity for
market.
Vietnam electricity industry is one of the
most well-organized power markets in Southeast Asia region owing to low-cost
resources such as hydro & coal, growth in economy and rise in
industrialization. In upcoming years, it is predicted that future of the market
will be bright due to high price of electricity and increase in investments by
foreign & local players during the forecast period.
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Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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