The Vietnam secondary battery market size was USD 511.44 Million in 2024 and is projected to reach USD 1,060.47 Million by 2033, growing at a CAGR of 8.44% during the forecast period of 2025-2033. Market growth is fueled by rapid electric vehicle adoption, renewable energy integration, and domestic manufacturing expansions, with supportive government policies and technological innovations enhancing battery chemistry and production.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Vietnam Secondary Battery Market Key Takeaways
- The current market size reached USD 511.44 Million in 2024.
- The market is expected to grow at a CAGR of 8.44% between 2025 and 2033.
- The forecast period for the market spans from 2025 to 2033.
- The market benefits from the expansion of electric vehicle adoption and increasing renewable energy storage deployment.
- Technological advancements, including improvements in energy density and safety features, are driving further market penetration.
- Government policies supporting EV production, tax incentives, and infrastructure development bolster market growth.
- Domestic and foreign manufacturers are investing in lithium-ion battery production capacities.
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Market Growth Factors
The Vietnam secondary battery market is primarily driven by the rapid adoption of electric vehicles (EVs) and the country’s strategic initiatives towards sustainable transportation. Government policies promoting EV production and usage, along with tax incentives and supportive infrastructure development, have substantially increased demand for secondary batteries. Rising fuel costs and environmental concerns are also motivating consumers and businesses to transition from conventional vehicles to electric alternatives, which in turn escalates the need for efficient and reliable secondary batteries. Domestic manufacturers are expanding their lithium-ion battery production to meet surging demand, while foreign companies are establishing local manufacturing facilities to enhance supply capabilities.
Renewable energy integration is another critical growth factor, as Vietnam increasingly focuses on renewable energy sources such as solar and wind power. This shift creates substantial demand for advanced secondary battery storage solutions capable of balancing supply fluctuations and ensuring stable electricity delivery. Rechargeable lithium-ion batteries notably enhance grid reliability by storing excess energy produced during peak generation periods and releasing it during supply shortages. Government initiatives aimed at increasing renewable energy’s share in the national mix are driving investments in large-scale battery storage infrastructure. Collaborations between local firms and global battery manufacturers facilitate technology transfers and capacity expansions, which together improve energy efficiency and reduce carbon emissions.
Technological advancements and research and development investments are further propelling market growth. Innovations in battery chemistry continuously improve energy density, safety features, and charging speeds, broadening applications from consumer electronics to electric mobility and energy storage systems. Domestic and international companies invest heavily in battery research centers and pilot production lines aiming to enhance battery performance and reduce production costs. Partnerships with universities and research institutions foster regional knowledge and innovation. Additionally, the emergence of recycling and second-life battery solutions promotes sustainability and lessens dependency on raw materials. Government support for high-tech manufacturing and R&D encourages foreign investments, accelerating the commercialization of advanced battery technologies, enhancing production efficiency, and strengthening Vietnam’s position in the global secondary battery value chain.
Market Segmentation
Type Insights:
- Lead-acid
- Lithium-Ion (Li-ion)
- Nickel Metal Hydride
- Others
The market segments include lead-acid, lithium-ion, nickel metal hydride, and other types, each playing distinctive roles in various applications.
Application Insights:
- Electronics
- Motor Vehicles
- Industrial Batteries
- Portables Devices
- Others
Applications cover electronics, motor vehicles, industrial battery systems, portable devices, and additional emerging uses.
Industry Vertical Insights:
- Chemical and Petrochemical
- Oil and Gas
- Energy and Power
- Automotive
- Others
Industry verticals served include chemical and petrochemical, oil and gas, energy and power sectors, automotive, and other miscellaneous industries.
Regional Insights
The report covers Northern Vietnam, Central Vietnam, and Southern Vietnam as the country’s major regional markets. The regional analysis provides a comprehensive view of each area’s contributions to the overall secondary battery market, considering factors such as industrial activity, energy infrastructure, and EV adoption rates.
Recent Developments & News
In September 2025, VinFast launched three dual-battery electric scooters—Vero X, Feliz, and Feliz Lite—in Vietnam, featuring removable secondary batteries. This initiative enhanced the adoption of lithium iron phosphate batteries, improving affordability, convenience, and riding range, thereby positively impacting the secondary battery market.
In August 2025, Fluence inaugurated a 35 GWh battery energy storage production facility in Bac Giang, Vietnam. This automated plant strengthens Vietnam’s secondary battery manufacturing capabilities, supports grid-scale energy solutions, and addresses rising global demand, positioning the country robustly within the secondary battery market.
Key Players
- VinFast
- Fluence
Customization Note
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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