Market Overview

The Vietnam Battery Market was valued at USD 587.1 Million in 2025 and is projected to reach USD 952.4 Million by 2034. The market is expected to grow at a CAGR of 5.52% during the forecast period 2026–2034. Growth is driven by rapid electric vehicle adoption, increasing renewable energy installations, and expanding telecommunications infrastructure nationwide, supported by government incentives promoting clean energy and sustainable transportation.

Study Assumption Years

  • Base Year: 2025
  • Historical Period: 2020-2025
  • Forecast Period: 2026-2034

Vietnam Battery Market Key Takeaways

  • The market size was valued at USD 587.1 Million in 2025.
  • The CAGR is 5.52% from 2026 to 2034.
  • The forecast period spans from 2026 to 2034.
  • Lead-acid battery dominated the market with a share of 48% in 2025, due to its cost-effectiveness and extensive automotive use.
  • Automotive application led the market with a 33% share in 2025, driven by vehicle production growth and EV battery demand.
  • The market features a moderately consolidated landscape with domestic and multinational players focusing on capacity expansion and innovation.
  • Government initiatives promoting renewable energy and EV adoption significantly bolster demand.

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Market Growth Factors

The Vietnamese EV market also grew substantially as consumers migrated toward sustainable transportation and because government policies reduced the purchase price of EVs, such as tax exemptions, registration fee waivers, and subsidies: in March 2025, the government extended a 100% registration fee exemption until February 2027. Growing electric two-wheelers, battery swapping networks, and charging infrastructure together drive demand for batteries. Domestic manufacturers increase their production and VinFast plans battery swap station construction throughout the nation.

 

Vietnam's renewable energy generation target creates a demand for advanced battery energy storage to manage the intermittent nature of renewable energy generation, with an announced plan in November 2025 to install 10,000-16,300 MW of battery storage by 2030 to support the renewable energy target and net zero emission target in 2050. Increased adoption of battery storage in industrial and commercial settings, advances in battery management technologies, and government-supported utility scale storage projects are helping the battery storage market to grow.

 

To maintain backup power supply for telecommunications networks, backup power supply stations are implemented at telecom base stations and telecom switching stations. As of 2025, Viettel, VNPT and MobiFone have covered all provinces with 5G network, deploying about 11,000 5G base stations, covering 26% of the population. Advanced networks and emerging services require increased energy efficiency and power system resilience. Energy storage in data centers also increases with growth. Where coverage is limited or grid less reliable, battery use is higher.

Market Segmentation

Battery Technology:

  • Lead-acid Battery: Holds a dominant 48% market share in 2025, extensively used in automotive starting, lighting, and ignition applications. In 2025, Shupai Power Supply Vietnam completed a milestone 2.7 Million kVAh annual lead-acid battery production facility. These batteries provide high current for internal combustion engines across vehicles and have broad usage in UPS systems, telecommunications, and industrial equipment due to their reliability and cost efficiency.
  • Lithium-ion Battery: Mentioned as a segment but no additional specific data provided.
  • Others: Mentioned as a segment but no additional specific data provided.

Application:

  • Automotive: Leading application segment with 33% share in 2025. Growth is driven by expanding vehicle production, rising two-wheeler adoption, and increasing commercial fleets. Batteries power engine start, electrical systems, and auxiliary components. EV and hybrid vehicle battery demand grows, supported by partnerships such as FPT Retail with V-Green JSC to install VinFast EV chargers and battery swap stations starting November 2025. Government support for EV infrastructure sustains growth.
  • Data Centers: Mentioned as an application segment but no specific data provided.
  • Telecommunication: Mentioned as an application segment but no specific data provided.
  • Energy Storage: Mentioned as an application segment but no specific data provided.
  • Others: Mentioned as an application segment but no specific data provided.

Regional Insights

Southern Vietnam dominates the Vietnam battery market, anchored by Ho Chi Minh City's significant economy and industrial concentration. It hosts major manufacturing facilities, technology parks, and commercial centers requiring diverse battery applications. High population density and greater consumer spending power fuel demand for EVs and electronics. The established logistics infrastructure supports efficient distribution networks connecting production facilities with domestic and export markets.

Recent Developments & News

In September 2025, CoreMax Group inaugurated a $65.3 Million lithium-ion battery material plant in Quang Ninh, producing high-purity nickel and cobalt sulphate crystals. This facility strengthens Vietnam’s industrial growth, integrates into the global supply chain, supports local employment, and boosts export development, marking a key milestone in the country’s battery sector.

Also, in August 2025, Fluence Energy and ACE Engineering launched a 35 GWh automated battery storage manufacturing facility in Bac Giang, enhancing local production capacity and supporting global energy storage supply chains.

Key Players

  • Fluence Energy
  • ACE Engineering
  • Shupai Power Supply Vietnam
  • VinFast
  • FPT Retail
  • V-Green JSC
  • CoreMax Group

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