Vietnam Two Wheeler Market to Grow with a CAGR of 8.2% through 2030

Vietnam’s two-wheeler market is surging, driven by electrification, smart tech, rising incomes, and flexible ownership models.

According to TechSci Research report, “Vietnam Two Wheeler Market – By Region, Competition Forecast & Opportunities, 2030F”, Vietnam Two Wheeler Market was valued at USD 9.21 Billion in 2024 and is expected to reach USD 14.78 Billion by 2030 with a CAGR of 8.2% during the forecast period. Vietnam’s two-wheeler market is evolving rapidly, underpinned by technological innovation, electrification, and consumer lifestyle changes. While traditional ICE vehicles still hold the majority share, electric two-wheelers are fast catching up. Supportive government policies, rising environmental consciousness, and tech-savvy urban youth are fueling this transformation. The market is also benefiting from fintech-driven vehicle access models and the growth of shared mobility platforms. However, progress is tempered by infrastructure deficiencies, unclear regulations, and ongoing safety concerns. Yet, OEMs are confident in Vietnam’s long-term potential, evident from rising investments in manufacturing capacity, localization, and connected vehicle technologies. This dynamic ecosystem is creating opportunities across the value chain—from battery suppliers to aftersales service providers. The commercial segment, especially gig-based delivery services, continues to drive bulk purchases, creating economies of scale. Vietnam’s push to become a regional manufacturing and innovation hub for two-wheelers, especially electric models, positions it competitively in Southeast Asia’s mobility future.

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The Vietnam Two Wheeler market is segmented into vehicle type, engine capacity, propulsion and region.

Based on vehicle type, Scooter/Moped remain the dominant vehicle type in Vietnam’s two-wheeler landscape, accounting for the largest market share in 2024. Their popularity stems from their user-friendly design, automatic transmission, and high fuel efficiency, making them particularly appealing for daily commuting. The ease of handling and comfortable riding posture attract a wide demographic, including women, elderly riders, and first-time users. Urban consumers in cities like Ho Chi Minh and Hanoi especially favor scooters due to their maneuverability in dense traffic and limited parking availability. Following scooters, motorcycles—particularly standard and underbone models—hold a substantial share of the market. These are especially prevalent in rural and semi-urban areas, where road conditions demand durability and fuel economy. Male consumers often prefer motorcycles for their power, versatility, and larger storage options. Mopeds, once a staple of Vietnam's mobility culture, are steadily losing relevance. Their outdated designs, limited speed, and lack of safety features no longer meet modern consumer expectations or regulatory standards. Consequently, sales are declining year-on-year.

Based on region, the Central region of Vietnam—home to key cities like Da Nang and Hue—has emerged as the country’s fastest-growing two-wheeler market. This growth is underpinned by a blend of industrial development, tourism-driven urbanization, and proactive government initiatives aimed at fostering sustainable mobility. Tourism, a major economic driver in the Central region, has further fueled demand. Cities like Da Nang and Hue have seen a rise in short-distance transportation needs for both tourists and gig economy workers supporting the hospitality and food delivery sectors. Scooters and electric bikes are ideal for navigating the narrow, often congested city roads in these areas, driving adoption among both residents and commercial operators. In parallel, regional governments are spearheading electric mobility pilot programs. These include incentives for EV purchases, support for localized battery-swapping infrastructure, and pilot e-scooter sharing schemes in urban centers. Such initiatives have positioned the Central region as a testing ground for green mobility technologies. Domestic and international players are taking note, investing in local manufacturing and R&D to cater to this growing demand.

Major companies operating in Vietnam Two Wheeler market are:

• Honda Vietnam
• Yamaha Motor Vietnam
• SYM Vietnam
• Suzuki Vietnam
• Piaggio Vietnam
• VinFast
• Kymco Vietnam
• Pega Vietnam
• Ducati Vietnam
• Dat Bike

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“In recent years, vietnam is increasingly promoting domestic production through its ‘Make in Vietnam’ initiative. Foreign players are setting up local assembly units to reduce import dependency and benefit from tax reliefs. In 2024, Chinese giant Yadea began construction of its second manufacturing plant in Bac Ninh province. Simultaneously, Vietnamese companies like Dat Bike and PEGA are investing in R&D to produce components such as electric drivetrains and smart controllers in-house. Localization not only reduces costs but also strengthens supply chain resilience”. Said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"Vietnam Two Wheeler Market, By Vehicle Type (Scooter/Moped, Motorcycle), By Engine Capacity (Up to 125cc, 126cc- 250cc, 251-500cc, Above 500cc), By Propulsion (ICE, Electric), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Vietnam Two Wheeler market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Vietnam Two Wheeler market.

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