Press Release

A USD 200 Million Vietnam Energy Management Market to Accelerate at a CAGR of Around 10% During 2025-30

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 anticipated to grow at a CAGR of around 10% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The growth in the energy management market of Vietnam is driven by regulatory requirements that demand conservation and preservation from electricity loss measures. This is under the periodic guidelines issued by the government under the National Energy Efficiency Programme that provides the targets for it. This is due to the country's massive surge in electricity consumption due to rapid industrialization. The electricity demand is so massive that the country suffers repeated blackouts due to power shortages. For instance, in 2023, on account of a power shortage in Northern Vietnam, it was compelled to supply electricity at alternative schedules for manufacturing operations and residential areas.

Besides, the manufacturing hub in Ho Chi Minh City, in Southern Vietnam, is likely to experience shortages of more than 10,000 MW of electricity by 2030, according to the Ministry of Industry and Trade of Vietnam. The country, therefore, needs energy management solutions for efficient utilization and consumption of electricity. The demand for energy management solutions will be further boosted by the rapid deployment of renewable energy plants and the expansion of the power grid in the country. Under the National Power Development Master Plan (PDP VIII), the country will double its national electricity output to 129,500 MW by 2030, of which a significant portion of electricity will be renewable and other cleaner energy sources. Such development highlights the huge demand for energy management solutions in Vietnam in the coming years, further states the research report, “Vietnam Energy Management Market Analysis, 2025.”

Segmentation Analysis

Hardware is the Most Preferred Component

Based on the component, the Vietnam Energy Management Market is further bifurcated into, hardware, software, and service. Hardware is the leading segment with more than 50% of the market share. This is mainly because of the high requirement of hardware such as sensors, controllers, smart meters, computer servers, and display devices for proper integration and coordination of energy management systems. Vietnam is currently undergoing a massive industrialization process which has increased the economic activities in the country. This increase in the economy of the country has significantly increased the power consumption of the country. For instance, the Vietnamese Government itself stresses that the power consumption in the country will increase every year around 10-12% till 2030. The country plans to invest around USD 12.8 billion per annum 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 and will lead to the deployment of energy management solutions, thereby expanding the demand for the hardware component for energy efficiency & management in the country.

Southern Vietnam Leads the Energy Management Industry

In the Vietnam Energy Management Market, Southern Vietnam has more than 39% market share. A large portion of the country's population lives in this region hence generating maximum demand for energy management solutions. Additionally, the region is also a major manufacturing hub due to the presence of significant industries in the region. This has led the region to contribute more than 30% of Vietnam’s GDP and is also the recipient of the highest FDI inflows in the country. This massive industrialization of the region leads to massive consumption of power. Under the regulatory guidelines for electricity conservation and prevention of its loss, the region drives the huge demand for energy management solutions. The further economic expansion of the region will continue to boost this growth in the Vietnam Energy Management Market over the forecasted period.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including ABB, Siemens, Honeywell, Schneider Electric, Johnson Control, General Electric, 8Elements Smart Energy, Yokogawa Vietnam Company Ltd., Green Yellow (Vietnam), Hitachi Energy (Vietnam), and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?