Report Description

Vietnam electric commercial vehicle market is projected to grow at a double digit CAGR during the forecast period owing to increasing need for fuel-efficient & emission-free vehicles and growing demand for electric commercial vehicle such as electric truck in the logistics industry. Based on propulsion, the market has been categorised into BEV, HEV, PHEV and FCEV. In 2022, the BEV accounts for the largest market share in the electric commercial vehicle market and is projected to grow with the highest CAGR during the forecast period as well.


Amidst lockdown due to COVID-19, the country is anticipated to witness low vehicle sales in 2023; however, growing demand for reducing GHGs and government incentives on purchase of electric vehicle are projected to drive the market through 2028.


Moreover, Mitsubishi Motors will cooperate with the Vietnam Industry Agency under the Industry & Trade Ministry to study efficient EV usage and public policy programs that can support speedy adoption of sustainable automotive technology. Based on range, the market has been categorised into 0-150 Miles, 151-250 Miles, 251-500 Miles and 500 Miles & Above. Above 500 miles range segment is anticipated to grow at a highest CAGR during the forecast period since most of the electric commercial vehicles produced and sold over the forecast period will be buses.


The major player operating in Vietnam electric commercial vehicle Market are Daimler, Tesla, Proterra, Nissan, BYD, Honda, Hyundai, VDL, ABB and Volvo. Most of the companies are doing good with developing new products along with new advanced technologies to stay strong in the Vietnam electric commercial vehicle market. Many companies are merging with other companies as a part of a strategy for good dealing and to cope with market competition.

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Objective of the Study:

  • To analyse and forecast the market size of Electric Commercial Vehicle Market, in terms of value and volume.
  • To classify and forecast Vietnam Electric Commercial Vehicle Market based on propulsion type, range, component and regional distribution.
  • To identify drivers and challenges for Vietnam Electric Commercial Vehicle Market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam Electric Commercial Vehicle Market.
  • To conduct the pricing analysis for Electric Commercial Vehicle Market.
  • To identify and analyse the profile of leading players involved in the manufacturing of Vietnam Electric Commercial Vehicle Market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across Vietnam. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across Vietnam.

TechSci Research calculated the market size of Vietnam Electric Commercial Vehicle Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

  • Electric Commercial Vehicle Manufacturers
  • Automotive OEMs
  • Traders, Distributors, and Suppliers
  • Raw Material Suppliers
  • Industry associations and experts
  • Research organizations and consulting companies.
  • Research Institutes
  • Industry associations
  • Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.



Base Year


Historical Years

2018 – 2021

Estimated Year


Forecast Period

2024F – 2028F

Quantitative Units

Revenue in USD Million, and CAGR for 2018-FY2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Propulsion Type

·         Range

·         Component

Region Scope

North-Vietnam, South-Vietnam & Central-Vietnam

Key Companies Profiled

Daimler, Tesla, Proterra, Nissan, BYD, Honda, Hyundai, VDL, ABB, Volvo

Customization Scope

10% free report customization with purchase. Addition or alteration to regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Vietnam Electric Commercial Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Electric Commercial Vehicle Market, By Propulsion Type:
    • BEV
    • HEV
    • PHEV
    • FCEV
  • Vietnam Electric Commercial Vehicle Market, By Range:
    • 0-150 Miles
    • 151-250 Miles
    • 251-500 Miles
    • 500 Miles & Above
  • Vietnam Electric Commercial Vehicle Market, By Component:
    • Electric Motor
    • EV Battery
    • Hydrogen Fuel Cell
  • Vietnam Electric Commercial Vehicle Market, by Geography:
    • Vietnam
    • South Vietnam
    • North Vietnam
    • Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Electric Commercial Vehicle Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according the company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID_19 on Vietnam Electric Commercial Vehicle Market

4.    Executive Summary

5.    Voice of Customer

5.1.  Product Awareness

5.2.  Product Pricing

5.3.  Challenges & Unmet Needs

6.    Vietnam Electric Commercial Vehicle Market Overview 

7.    Vietnam Electric Commercial Vehicle Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Propulsion Type (BEV, HEV, PHEV and FCEV)

7.2.2.     By Vehicle Type (Bus, Truck and Pick-up Trucks)

7.2.3.     By Range (0-150 Miles, 151-300 Miles, 300 Miles & Above)

7.2.4.     By Component (Electric Motor, EV Battery and Hydrogen Fuel Cell)

7.2.5.     By Region

7.2.6.     By Company (2022)

7.3.  Product Market Map

8.    Vietnam Electric Bus Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Propulsion Type

8.2.2.     By Range

8.2.3.     By Components

8.2.4.     By Country

9.    Vietnam Electric Truck Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Propulsion Type

9.2.2.     By Range

9.2.3.     By Components

9.2.4.     By Country

10.  Vietnam Electric Pickup Trucks Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Propulsion Type

10.2.2.  By Range

10.2.3.  By Components

10.2.4.  By Country

11.  Price Point Analysis

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends & Developments

14.  Vietnam Economic Profile

15.  Policy & Regulations

16.  Competitive Landscape

16.1.              Daimler

16.2.              Tesla

16.3.              Proterra

16.4.              Nissan

16.5.              BYD

16.6.              Honda

16.7.              Hyundai

16.8.              VDL

16.9.              ABB

16.10.            Volvo

17.  Strategic Recommendation

18. About Us & Disclaimer

Figures and Tables

Frequently asked questions


Increasing environmental concerns and the rise in efforts by leading authorities for electrification of public transportation systems are driving the growth of Vietnam electric commercial vehicle market.


Daimler, Tesla, Proterra, Nissan, BYD, Honda, Hyundai, VDL, ABB, Volvo are the major market players operating in the Vietnam electric commercial vehicle market.


The rise in investments in the up-gradation of several vehicle charging infrastructure and the declining cost of lithium-ion batteries can provide lucrative opportunities for market growth in the forecast period.


Based on the propulsion type, the market is divided into BEV, HEV, PHEV, and FCEV. The HEV is expected to witness the fastest growth in the forecast period as they provide the highest operating efficiency and lower internal energy loss than its counterparts.


Srishti Verma

Business Consultant
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