A strong indicator of growth in the solar PV market is the increasing awareness and rising concerns about climate change, sustainability and renewable energy pushed the demand for solar power and its equipment.
Government’s Commitment to Energy Security: The Vietnamese government has provided social security and trust to its people for using green energy like Solar PV through its FiT programs. Delays in new coal and other power projects amid rising electricity demand have reflected the priority of government in switching to cleaner & greener sources like Solar PV.
Public demand for environmental protection: Serious air pollution and climate related concerns in urban areas has triggered public opposition to switch to cleaner energy sources like Solar PV. With favorable conditions for RTS, many households have also started to switch to Solar PV for their self-consumption.
Power Development Plan VIII: With the revised decision of the Power Development Plan VIII, the Vietnam Government has identified renewables like Solar PV, Wind and others as its highest priority sector for generating power in the country, which eventually helped the country to meet the set zero emission target.
Geographical Presence: Vietnam as a country is blessed with generous amount of sunshine with roughly 2000-2500 hours of annual sunlight, which makes it an ideal region for using solar power in meeting its power needs. Within the country, the southern part is more viable and potential for solar generation by the geographical landscape as well as the economical point of view.
Rising Solar PV Installed Capacity: Solar PV Equipment Market in Vietnam registered a robust CAGR in between 2017 and 2022P.The surging growth is attributed to the government's Feed-in-Tariffs and tax related incentives arising from concerns on climate change. With the FiT Phase I being introduced to the public, developers increased their installed capacity of solar power massively from just 100MW in 2017 to 4900MW by 2019.The Total Solar PV Installed Capacity in the country also grew from just a 100MW in 2017 to more than 18000 in 2022P.
Analysts at Ken Research in their latest publication- “Vietnam Solar PV Equipment Market Outlook to 2027 - Driven by the regulations and incentives updated by the Government of Vietnam and concerns for climate change” by Ken Research provides a comprehensive analysis of the potential of the Vietnam Solar PV Equipment Market. Public demand for environmental protection and the Government's intention to develop solar power generation as a new economic sector are expected to contribute to the market growth over the forecast period. Vietnam Solar PV Equipment Market is expected to grow at a robust CAGR over the forecasted period 2023E-2027E.
Key Segments Covered
Segmentation by the Type of Technology:
Monocrystalline
Polycrystalline
Thin film
Segmentation by Region:
South
Central highlands
North
Segmentation by Type of End User:
Commercial
Industrial
Residential
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Segmentation by Type of Mounting
Ground Mounted
Rooftop solar
Segmentation By Type of Connectivity
On Grid
Off Grid
Key Target Audience
Solar PV Module Manufacturers
Solar PV Inverter Companies
EPC/Developers
Power Plant Owners/Utilities
Operation & Maintenance (O&M) Companies
Investor Community
Financing Companies
Government Bodies & Industry Organizations
Other Stakeholders
Time Period Captured in the Report:-
Historical Period: 2017-2022P
Base Year: 2022P
Forecast Period: 2023E–2027E
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Companies Covered:-
Supply Side Entities
Trina solar
Jasolar
Irex
Boviet solar
Canadian solar
Jinko solar
Longi
Firstsolar
Key Topics Covered in the Report:-
Executive summary
Country overview
Market Overview of Solar PV Equipment Market Vietnam
ASEAN Market Overview
Renewable Energy Market Overview
Ecosystem of Major Players in the Market
Value Chain
Market Size of Solar PV Equipment Market in Vietnam
Market Segmentation of Solar PV Equipment Market in Vietnam, 2022
Segmentation on the Type of Technology, End User, Region, Mounting, Connectivity
Industry Analysis
Trends & Developments in Vietnam Solar PV Equipment Market
Growth Drivers of Vietnam Solar PV Equipment Market
Government Regulations & Incentives in Vietnam Solar PV Equipment Market
Upcoming Projects & Investments in Vietnam Solar PV Equipment Market
Challenges & Issues Faced in Vietnam Solar PV Equipment Market
Demand Analysis
TAM, SAM, SOM of Vietnam Solar PV Equipment Market
Demand Analysis of Vietnam Solar PV Equipment Market
Competitive Landscape
Competition Overview of Solar PV Equipment market in Vietnam
Market Positioning Analysis
BCG Matrix Analysis of Vietnam Solar PV Equipment Market
Cross Comparison of Top Players
Future Outlook and Projections, 2023E-2027E
Future Market Size of Solar PV Equipment Market in Vietnam on the basis of Revenue and Total Installed Capacity, 2023E-2027E
Future Market Segmentation on the Type of Technology, 2022P-2027E
Future Market Segmentation on the Type of End User, 2022P-2027E
Future Market Segmentation on the Type of Region, 2022P-2027E
Future Market Segmentation on the Type of Mounting, 2022P-2027E
Future Market Segmentation on the Type of Connectivity, 2022P-2027E
Case Study: LONGi Solar
Analyst Recommendations
Industry Speaks
Research Methodology
Disclaimer
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Vietnam Solar PV Equipment Market
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