Vietnam Battery Market Report and Forecast 2025-2034
Description
The Vietnam battery market reached approximately USD 311.40 Million in 2024. The market is projected to grow at a CAGR of 6.20% between 2025 and 2034, reaching a value of around USD 568.28 Million by 2034.
Vietnam Battery Market Growth
Vietnam possesses a wealth of high-quality nickel reserves that have caught the attention of international mining companies in recent years. Reportedly, Vietnam’s total nickel resources and reserves are estimated at 3.6 million tons of metallic nickel. The surge in demand for raw materials, particularly nickel, due to the electric vehicle boom has prompted various companies, like Australian mining company Blackstone Minerals and local conglomerate Vingroup, to establish EV battery plants in the country.
Meanwhile, lithium-ion batteries have emerged as the most preferred energy storage solution for a wide range of products, from automobiles to mobile devices, due to their lightweight nature and higher energy density compared to other battery technologies like lead-acid or nickel-cadmium. Consequently, most plug-in hybrids and all-electric vehicles now rely on lithium-ion batteries for power.
The Institute of Energy of Vietnam (IEV) reported that Vietnam is poised to experience a significant increase in power demand and consumption in the next ten years, leading to potential implications for its energy security. The Vietnamese government anticipates an annual growth rate of 10-12% in power consumption until 2030, making it one of the fastest-growing rates in Asia. As a result, the demand for batteries in the region is expected to rise accordingly.
Vietnam Battery Industry Segmentation
“Vietnam Battery Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Lithium-Ion
Lead Acid
Nickel Metal Hydride
Nickel Cadmium
Others
Market Breakup by Application
Automotive Batteries
Industrial Batteries
Portable Batteries
Market Breakup by Region
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Battery Market Share
Based on the product, the market is segmented into lithium-ion, lead acid, nickel metal hydride, and nickel cadmium, among others. Lithium-ion is projected to grow at a CAGR of 7.6% during 2025-2034. Lithium-ion batteries possess a superior energy density, enabling them to store a significant amount of energy within a compact area. As a result, they offer extended battery life and quicker charging durations in comparison to numerous conventional battery variants.
Leading Companies in the Vietnam Battery Market
Major market players are focusing on the advancement of Intelligent Battery Management Systems (BMS) to gain a competitive edge.
GS Battery VietNam Co., Ltd.
Dry Cell and Storage Battery Joint Stock Company
KUNG LONG BATTERIES INDUSTRIAL CO., LTD.
Hangzhou Eumo Technology Co.,Ltd.
Ritar Power (Vietnam) Company Limited
Others
Vietnam Battery Market Report Snapshots
Vietnam Battery Market Size
Vietnam Battery Market Growth
Vietnam Battery Market Share
Vietnam Battery Companies
Vietnam Battery Market Growth
Vietnam possesses a wealth of high-quality nickel reserves that have caught the attention of international mining companies in recent years. Reportedly, Vietnam’s total nickel resources and reserves are estimated at 3.6 million tons of metallic nickel. The surge in demand for raw materials, particularly nickel, due to the electric vehicle boom has prompted various companies, like Australian mining company Blackstone Minerals and local conglomerate Vingroup, to establish EV battery plants in the country.
Meanwhile, lithium-ion batteries have emerged as the most preferred energy storage solution for a wide range of products, from automobiles to mobile devices, due to their lightweight nature and higher energy density compared to other battery technologies like lead-acid or nickel-cadmium. Consequently, most plug-in hybrids and all-electric vehicles now rely on lithium-ion batteries for power.
The Institute of Energy of Vietnam (IEV) reported that Vietnam is poised to experience a significant increase in power demand and consumption in the next ten years, leading to potential implications for its energy security. The Vietnamese government anticipates an annual growth rate of 10-12% in power consumption until 2030, making it one of the fastest-growing rates in Asia. As a result, the demand for batteries in the region is expected to rise accordingly.
Vietnam Battery Industry Segmentation
“Vietnam Battery Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Lithium-Ion
Lead Acid
Nickel Metal Hydride
Nickel Cadmium
Others
Market Breakup by Application
Automotive Batteries
Industrial Batteries
Portable Batteries
Market Breakup by Region
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Battery Market Share
Based on the product, the market is segmented into lithium-ion, lead acid, nickel metal hydride, and nickel cadmium, among others. Lithium-ion is projected to grow at a CAGR of 7.6% during 2025-2034. Lithium-ion batteries possess a superior energy density, enabling them to store a significant amount of energy within a compact area. As a result, they offer extended battery life and quicker charging durations in comparison to numerous conventional battery variants.
Leading Companies in the Vietnam Battery Market
Major market players are focusing on the advancement of Intelligent Battery Management Systems (BMS) to gain a competitive edge.
GS Battery VietNam Co., Ltd.
Dry Cell and Storage Battery Joint Stock Company
KUNG LONG BATTERIES INDUSTRIAL CO., LTD.
Hangzhou Eumo Technology Co.,Ltd.
Ritar Power (Vietnam) Company Limited
Others
Vietnam Battery Market Report Snapshots
Vietnam Battery Market Size
Vietnam Battery Market Growth
Vietnam Battery Market Share
Vietnam Battery Companies
Table of Contents
150 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Battery Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Battery Historical Market (2018-2024)
- 5.3 Asia Pacific Battery Market Forecast (2025-2034)
- 6 Vietnam Battery Market Overview
- 6.1 Key Industry Highlights
- 6.2 Vietnam Battery Historical Market (2018-2024)
- 6.3 Vietnam Battery Market Forecast (2025-2034)
- 7 Vietnam Battery Market by Product
- 7.1 Lithium-Ion
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Lead Acid
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Nickel Metal Hydride
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Nickel Cadmium
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Vietnam Battery Market by Application
- 8.1 Automotive Batteries
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Industrial Batteries
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Portable Batteries
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 9 Vietnam Battery Market by Region
- 9.1 Southeast
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Red River Delta
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Mekong River Delta
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 South Central Coast
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Others
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators for Demand
- 10.4 Key Indicators for Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profiles
- 11.5.1 GS Battery VietNam Co., Ltd.
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 Dry Cell and Storage Battery Joint Stock Company
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 KUNG LONG BATTERIES INDUSTRIAL CO., LTD.
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 Hangzhou Eumo Technology Co.,Ltd.
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 Ritar Power (Vietnam) Company Limited
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 Others
Pricing
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