Vietnam Electric Commercial Vehicle Market to Grow with a CAGR of 23.67 % through 2030
Rising fuel costs,
supportive government policies, and growing demand from urban freight and
delivery services are the factors driving the market in the forecast period 2026–2030.
According to TechSci Research report, “Vietnam Electric
Commercial Vehicle Market – Industry Size, Share, Trends, Opportunity, and
Forecast, 2020-2030F”, The Vietnam Electric Commercial Vehicle Market was valued at USD 405.30
million in 2024 and is expected to reach USD 1,499.98 million by 2030 with a CAGR of 23.67% during the forecast period.
Vietnam’s electric commercial vehicle sector is gaining momentum as
environmental targets and national sustainability plans foster the shift toward
cleaner transport solutions. The Ministry of Transport highlights a steady 8-9%
yearly rise in freight and passenger activity, prompting interest in electric
commercial options to tackle urban congestion and emissions. Local strides in
producing electric drivetrains and batteries are gradually lowering prices,
making domestic models more competitive.
Compared to diesel, electric commercial vehicles deliver substantial
savings over their operational life, thanks to lower maintenance and energy
costs. Vietnam Electricity (EVN) reports commercial electricity rates around USD0.08/kWh,
considerably below diesel prices at USD0.96/litre in 2024. E-commerce,
projected to exceed USD40 billion by 2025 according to the Vietnam E-Commerce
Association, is fueling interest in electric vans and trucks for last-mile
delivery. Efforts to electrify public transport fleets reflect Vietnam’s
broader climate ambitions.
Nonetheless, high initial costs and supply chain hurdles pose
challenges. Battery materials face global market fluctuations, while Vietnam
remains reliant on imported components. Public concerns over charging
convenience and upfront expenses persist, yet new battery technologies and
government incentives are easing these barriers. As engineering capabilities
and charging networks expand, electric commercial vehicles are becoming a more
practical choice for fleet operators.
Browse over Vietnam Electric Commercial Vehicle Market data Figures
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Vietnam
Electric Commercial Vehicle Market is Segmented By Vehicle, End Use,
Propulsion, Battery, and By Region.
Vietnam’s electric commercial vehicle market serves
varied end-user segments where operational needs and sustainability targets
intersect. Logistics operators prioritize electric vehicles for predictable
route schedules and cost efficiency, driven by rising diesel prices and
environmental regulations. Electric trucks and vans offer significant savings
in fuel and maintenance, attracting large logistics firms aiming to enhance
sustainability profiles and reduce operational risks from fuel price volatility.
Government incentives further motivate logistics providers to transition to
electric commercial vehicles as part of broader green supply chain strategies.
Last-mile delivery services rely heavily on
maneuverability, low noise, and compliance with urban emission restrictions,
making electric vehicles an ideal fit. E-commerce’s rapid growth fuels demand
for electric vans and small trucks capable of frequent stops and short-distance
routes in congested urban zones. Electric vehicles support silent nighttime
deliveries, reduce air pollution, and help companies adhere to city regulations
targeting emissions reductions. Stakeholders view electric last-mile solutions
as vital tools for maintaining competitive delivery times and sustainable
operations. As Vietnam’s urban centers expand, last-mile services will remain a
key driver of electric commercial vehicle adoption, fostering an ecosystem of
vehicles, charging solutions, and digital fleet management technologies.
Northern Vietnam is experiencing a surge in interest
toward electric commercial vehicles, driven by industrial expansion and urban
development. Hanoi, the region’s economic hub, faces mounting traffic
congestion and environmental pressures, prompting authorities and businesses to
explore clean transport solutions. Infrastructure improvements and
government-backed sustainability programs encourage electric commercial vehicle
deployment, especially for urban logistics and municipal services. The region’s
industrial parks and manufacturing zones contribute significant freight
volumes, creating demand for sustainable transport alternatives that align with
environmental targets and cost efficiency.
Freight operators and public service providers in
Northern Vietnam evaluate electric vehicles for city logistics and specialized
applications such as waste management and urban deliveries. Predictable routes
and shorter distances make electric trucks and vans practical choices in the
region’s dense urban environment. Public transport agencies increasingly
consider electric buses for urban routes to cut emissions and noise, matching
national climate ambitions. The combination of policy support, industrial activity,
and urban sustainability initiatives fuels Northern Vietnam’s growing role in
the electric commercial vehicle sector, positioning the region as a critical
area for future market development. Businesses across industries are investing
in electrification strategies to remain competitive and compliant with evolving
regulatory standards focused on reducing transport emissions.
Major Market
Players Operating in Vietnam Electric Commercial Vehicle Market Are:
- BYD Vietnam
- Dongfeng Vietnam
- Fuso Vietnam (Daimler Truck)
- Hino Motors Vietnam
- Hyundai Thanh Cong Vietnam
- Mitsubishi Motors Vietnam
- SAMCO (Sài Gòn Mechanical
Engineering Corporation)
- THACO (Trường Hải Auto
Corporation)
- TMT Motors
- VinFast
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“Vietnam’s
electric commercial vehicle market is advancing rapidly, driven by
sustainability policies, fuel price volatility, and booming e-commerce.
Government goals targeting net-zero emissions by 2050 fuel initiatives to
electrify public transport and commercial fleets. Rising interest spans light
commercial vehicles for urban deliveries, heavy trucks for industrial
logistics, and electric buses for city transit. Infrastructure gaps and high
upfront costs remain challenges, yet technological progress and supportive
policies foster growth. Southern Vietnam leads current adoption, while Northern
Vietnam grows swiftly due to industrial development. Electric commercial
vehicles are transforming logistics and urban transport, reshaping Vietnam’s
path toward sustainable mobility solutions.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
The report
titled “Vietnam Electric Commercial Vehicle Market – Industry Size, Share,
Trends, Opportunity, and Forecast, By Vehicle (Light Commercial Vehicle (LCV),
Heavy Commercial Vehicle (HCV), Buses) By Propulsion (Battery Electric Vehicle
(BEV), Plug in Hybrid Vehicle (PHEV)), Fuel Cell Electric Vehicle (FCEV)), By
Battery (<50kwh, 50-150 kwh,>150kwh), By End Use (Logistics, Last mile
Delivery), By Region, By Competition, 2020-2030F”, assesses the market's future
growth potential and provides data on market size, trends, and forecasts. It
aims to offer comprehensive market insights, helping decision-makers make
informed investment choices. The report also highlights emerging trends, key
drivers, challenges, and opportunities in the Vietnam Electric Commercial
Vehicle Market.
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