Vietnam Electric Two-Wheeler Market

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Vietnam Electric Two-Wheeler Market
The Vietnam electric two-wheeler market is
predicted to grow at 5.8 CAGR during the
forecast period in terms of its revenue size. The
market in Vietnam is powered largely by
favourable government policies and increased
awareness of the use of electric vehicles. In
Vietnam, numerous products, including e-
scooters and e-bikes, contribute significantly to
the scale of the electric two-wheeler industry.
By product, the market is categorized into
e-scooters, e-bikes, e-motorcycles, and others.
E- scooters hold the largest share in the
Vietnam market, in terms of revenue as well as
fleet size. By battery type, the market is
segmented into sealed lead acid, Li-ion, and
NiMH. Of all, sealed lead acid is the most
common type of battery used in the electric
two-wheelers in Vietnam. Lower prices are the
primary reason behind the highest share of sealed
lead acid battery in the Vietnam electric
two-wheelers market. By battery technology, the
market is categorized into removable battery and
non-removable battery. Non-removable batteries
are majorly used in the market as it is
convenient for electric two-wheelers to plugin
and charge batteries instead of removing and
charging indoors. By voltage, the market is
segmented into 24V, 36V, 48V, 60V, 72V. 48V
electric two-wheeler holds the largest share in
the Vietnam electric two-wheeler market, followed
by 36V two- wheelers.
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Despite limited government support for electric
vehicles in Vietnam, market awareness has led to
massive adoption of light electric vehicles in
the country, while the government is showing an
intention to adopt green transport technology,
lack of specific definitions and find it
difficult to enforce the country's hybrid vehicle
policy. Vietnam's electric vehicles, however,
are immune from tariffs because the country is a
signatory to free trade agreements, such as the
ASEAN Trade in Goods Agreement (ATIGA) and the
ASEAN- Republic of Korea FTA. Competitive
Insights Schneider Electric Vietnam, Tan Thanh
Nhan Co., Ltd., Pega LttGlobal Electric Bike JSC
are some of the key players operating in the
Vietnam electric two-wheelers market.
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