1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Renewable Energy
  5. > Solar Energy
  6. > Photovoltaics Market Trends
Vietnam Solar Photovoltaics Equipment Market, By DC Voltage Type, By Installation Mode, By End User, By Module Type, By Type, Competition, Forecast & Opportunities, 2016-2026

Vietnam Solar Photovoltaics Equipment Market, By DC Voltage Type, By Installation Mode, By End User, By Module Type, By Type, Competition, Forecast & Opportunities, 2016-2026

  • June 2021
  • 76 pages
  • ID: 5891077
  • Format: PDF
  • TechSci Research


Table of Contents

Vietnam Solar Photovoltaics Equipment Market, By DC Voltage Type (400V, 600V, 1000V & 1500V), By Installation Mode (Ground Mounted Vs Rooftop), By End User (Industrial, Commercial & Residential), By Module Type (Monocrystalline, Polycrystalline & Thin Film), By Type (Circuit Configuration, Module Mounting Systems, Solar Charge Controllers, etc.), Competition, Forecast & Opportunities, 2016-2026

Vietnam solar photovoltaics equipment market was valued USD9209.75 million in 2020 and is forecast to grow at CAGR of 12.09% in the next five years. Growth in the market is anticipated on account of increasing electricity demand from industrial, commercial as well as residential end user segments. With favorable initiatives taken in the solar sector by the Government of Vietnam, an increasing number of investors and developers are also increasing their investments in solar industry in different regions across the country. For instance, in 2017, the government introduced FiT of USD9.35 cents/kWh, which generated interest in solar projects, majorly in the southern regions of Vietnam. In 2019, the government revised the FiT to USD6.67-10.87 cents/kWh, depending on solar power technology and region of deployment. As a result, the cumulative solar capacity of the country reached 5.5 GW in 2019 from 237 MW in 2018. The Vietnamese government is now considering moving from FiT to a competitive bidding scheme for solar projects which would increase the installed capacity and create thousands of new jobs in Vietnam.

Solar photovoltaics equipment market in Vietnam can be classified based on DC voltage, installation mode, end user, module type, type of equipment and region.In 2020, Vietnam solar photovoltaic equipment market was dominated by the polycrystalline type of module due to its cheap price.

However, the monocrystalline type of module is forecast to grow at the highest CAGR, owing to its high efficiency in solar systems for energy generation.

Massive boom in rooftop solar installations is the key factor to create a more stable power supply.Electricity Regulatory Authority of Vietnam has taken steps for large as well as small rooftop installations.

In April 2019, Vietnam’s Prime Minister issued a decision that set a new feed-in-tariff of USD83.80 per Megawatt Hour (MWh) for rooftop solar. Ground-mounted solar projects can receive USD70.90 per MWh. Throughout 2020, rooftop solar installations in Vietnam grew massively by more than 2000%, rising from a 2019 base of 378MW Peak to 9.58GW Peak, spread across almost 102,000 systems. State utility Vietnam Electricity Group (EVN) reported that rooftop solar installations totalled 2.9GW in November 2020 and 4.7GW on December 25, 2020.

According to the World Bank, there is a tremendous increase in electricity consumption in Vietnam.With a CAGR of 11% from 2016 to 2020, this consumption is expected to triple till 2030.

As per the statistics published by ‘enerdata’, the total electricity consumption in Vietnam stood around 2,100 Kilo Watt Hour (kWh) in 2019 and this has increased on an average of 9% per year since 2010.With this rising consumption, the average electricity price is increasing, and hence renewable energy is acting as a boon for the country’s electricity requirements.

Currently, there is a lot of scope for renewable energy to grow and the share of renewable energy in total energy production stands at around 25.62% in 2019. Moreover, with government’s active participation to help the market grow, the solar PV equipment market is expected to continue growing significantly driven by the increasing consumption and prices of electricity in Vietnam.

Some of the major players operating in the Vietnam Solar Photovoltaic Equipment market are Boviet Solar Technology Co.Ltd, Megasun Production Co.

Limited, SolarBK, Solar Power Vietnam Co., Jsc, Allesun Energy, Growatt New Energy Technology Co., Ltd. (Alena Energy Technology Co., Ltd.), Pöyry Energy Ltd., GCL System Integration Technology Co., Ltd. (Golden Concord Group (GCL)), Trina Solar Co., Ltd., Vietnam Green Energy Technology Co., Ltd.

Years considered for this report:

Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026

Objective of the Study:

• To analyze the historical growth in the market size of Vietnam Solar Photovoltaics Equipment Market from 2016 to 2020.
• To estimate and forecast the market size of Vietnam Solar Photovoltaics Equipment Market from 2021 to 2026 and growth rate until 2026.
• To segment and forecast Vietnam Solar Photovoltaic Equipment Market into different regions – Ninh Thuan, Dak Lac, Binh Thuan and Tay Ninh, and other major states.
• To evaluate non-hydro renewable share in primary energy mix.
• To identify major drivers & challenges for Vietnam Solar Photovoltaics Equipment Market.
• To identify major trends of Solar Photovoltaics Equipment Market in Vietnam.
• To profile major companies operating in Vietnam Solar Photovoltaics Equipment Market.
To analyze and forecast Vietnam solar photovoltaic equipment market, both top-down and bottom-up approaches have been used.Multiple employees from several solar power companies have been interviewed through telephonic conversations to extract and verify the information.

A brief study of the major players operating in the Vietnam solar photovoltaic equipment market was conducted, which included the analysis of information such as ongoing projects, followed by the details of expected year of commissioning and estimated investments along with the expansion plans of various projects in the country. Moreover, detailed, and in-depth scrutiny of information was done to understand each policy or external or internal factor which could increase or decrease the demand for solar power in Vietnam.
Various secondary sources such as company websites, Annual Reports, White Papers, Investor Presentation, BP Stats, News Articles, Associations, International Renewable Energy, Ministry of Ecology and Environment were also studied by the analyst.

Key Target Audience:

• Solar Photovoltaic Equipment manufacturers, distributors, and other stakeholders
• Major end users
• Associations, organizations, forums, and alliances related to solar industry.
• Government bodies such as regulating authorities and policy makers.
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Vietnam Solar Photovoltaic Equipment market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
• Vietnam Solar Photovoltaic Equipment market, By Installation Mode:
o Ground Mounted
o Rooftop
• Vietnam Solar Photovoltaic Equipment market, By Module Type:
o Monocrystalline
o Polycrystalline
o Thin Film
• Vietnam Solar Photovoltaic Equipment market, By End User:
o Residential
o Commercial
o Industrial
• Vietnam Solar Photovoltaic Equipment market, By DC Voltage Type:
o 400V
o 600V
o 1000V
o 1500V
• Vietnam Solar Photovoltaic Equipment market, By Type:
o Inverters
o Solar Tracking System
o Module Mounting Systems
o Circuit Configurations
o Solar Charge Controllers
o Others
• Vietnam Solar Photovoltaic Equipment market, By Region:
o Ninh Thuan
o Dak Lac
o Binh Thuan
o Tay Ninh
o Others

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Solar Photovoltaic Equipment market.

Available Customizations:

With the given market data, we offers customizations according to a 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).

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Global Solar Photovoltaic (PV) Market, Update 2021 - Market Size, Market Share, Major Trends, and Key Country Analysis to 2030

  • $ 3995
  • September 2021
  • 231 pages

Global Solar Photovoltaic (PV) Market, Update 2021 - Market Size, Market Share, Major Trends, and Key Country Analysis to 2030 Summary “Global Solar Photovoltaic (PV) Market, Update 2021 - Market Size, ...

  • East Asia
  • China
  • Photovoltaics
  • Industry analysis
  • Electricity Capacity
  • Greenhouse Gas Emissions


Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on