Market Dynamics and Growth Forecast 2024-2032
Market Size and Projections: In 2022, the Vietnam Solar PV Equipment Market achieved a valuation of US$ billion, with expectations to surge to US$ billion by 2032. The compound annual growth rate (CAGR) is anticipated at $%, covering the forecasted period from 2024 to 2032.
Industry Overview and Segmentation: This report offers a detailed analysis of Vietnam’s Solar PV Equipment Industry, encompassing an industry overview, current market size based on revenue and installed capacity, and segmentation by technology type, end-users, region, mounting, and connectivity.
Insights into Market Trends and Future Projections
Market Overview and Growth Trends: Report Ocean estimates reveal a commendable CAGR of $% in the Vietnam Solar PV Equipment Market from 2017 to 2022. The projected period of 2023-2027 is poised to continue this growth trajectory at a CAGR of $%, attributed to technological advancements and cost reductions.
Electricity Penetration and Grid Development: By 2021, Vietnam achieved substantial electricity penetration, with 99.90% of urban areas and 99.40% of rural areas having access to electricity. The Electrical Grid, EVN, originally designed for conventional resources, is undergoing adaptation to accommodate energy from renewable sources, particularly solar.
Key Trends in Market Segments:
Type of Technology: Monocrystalline panels take the lead, boasting higher efficiency and energy generation compared to Polycrystalline panels.
Type of Region: The South of Vietnam emerges as the dominant market region due to its economic development and geographical advantage of increased sunlight exposure.
This comprehensive report provides valuable insights for industry stakeholders, investors, and policymakers navigating the evolving landscape of Vietnam’s Solar PV Equipment Market.
Source：taiwannews.com.tw
