Posted by Vietnam Vehicle Electrification Market Overview 2024-2032
The latest report by IMARC Group, titled “Vietnam Vehicle Electrification Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the Vietnam vehicle electrification market growth. The market size is projected to exhibit a growth rate (CAGR) of 10.90% during 2024-2032.
Vehicle electrification refers to the process of integrating electric power into vehicles to reduce or eliminate reliance on traditional internal combustion engines. Electric vehicles (EVs) encompass various types, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs), each with distinct levels of electrification. Additionally, battery electric vehicles rely solely on electric power stored in high-capacity batteries, offering zero-emission transportation which is charged by plugging into an electric power source, such as a charging station or home outlet. Plug-in hybrid electric vehicles combine electric motors with internal combustion engines, allowing for electric and gasoline-powered propulsion. These vehicles can operate in all-electric mode for shorter distances before switching to hybrid or gasoline mode for longer trips. Moreover, hybrid electric vehicles utilize electric power alongside conventional engines, utilizing regenerative braking and engine start-stop technology to improve fuel efficiency.
Vietnam Vehicle Electrification Market Trends and Drivers:
The Vietnam vehicle electrification market is primarily driven by the increasing awareness of climate change and air pollution. In addition, the growing emphasis on reducing greenhouse gas (GHG) emissions led to the adoption of electric vehicles (EVs) that offer a cleaner alternative, aligning with Vietnam’s goals for sustainable development and environmental protection. Moreover, various advances in battery technology led to improvements in EV performance, driving range, and affordability, representing another major growth-inducing factor. Additionally, the increasing availability of charging infrastructure reduces range anxiety, making electric vehicles more practical for everyday use in Vietnam’s urban and rural areas. Besides this, the growing automotive industry and manufacturers investing heavily in electric vehicle development are increasing the availability and variety of electric vehicle models, further accelerating the sales demand. Furthermore, the government of Vietnam is implementing several policies and incentives to promote the adoption of electric vehicles including tax breaks, subsidies, and investment in charging infrastructure encouraging individuals to transition toward electric vehicles, creating a positive market outlook.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vietnam-vehicle-electrification-market/requestsample
Vietnam Vehicle Electrification Market 2024-2032 Analysis and Segmentation:
The report segmented the market on the basis of region, product type, vehicle type, and sales channel.
Product Type Insights:
- Starter Motor
- Alternator
- Electric Car Motors
- Electric Water Pump
- Electric Oil Pump
- Electric Vacuum Pump
- Electric Fuel Pump
- Electric Power Steering
- Actuators
- Start/Stop System
Vehicle Type Insights:
- Internal Combustion Engine (ICE) and Micro-Hybrid Vehicle
- Plug-in Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
Sales Channel Insights:
- Original Equipment Manufacturers (OEM)
- Aftermarket
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024- 2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163