14/06/2024
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Vietnam EV Charging Infrastructure Market Growth, Share, Emerging Trends, Revenue, Business Challenges, Future Strategies and Forecast Analysis 2033: SPER Market Research

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The network of charging stations and related facilities that make it easier for electric vehicles (EVs) to be refuelled is known as the EV charging infrastructure. The industry for EV charging infrastructure has grown significantly in recent years due to the global upsurge in the use of electric vehicles. As an environmentally beneficial transportation choice that aims to reduce carbon emissions and diminish dependency on fossil fuels, EVs have attracted a lot of interest. The creation of an effective and dependable EV charging network is becoming more and more important due to the continued increase in the use of EVs.

According to SPER market research, Vietnam EV Charging Infrastructure Market Size- By Type, By Vehicle Type, By Installed Location, By Charging Mode, By Connector Type, By Type of Charging- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Vietnam EV Charging Infrastructure Market is predicted to reach USD XX Billion by 2033 with a CAGR of XX%.

Vietnam’s market for electric car charging infrastructure is expected to grow significantly due to a notable increase in vehicle sales and manufacturing to fulfil the country’s growing population’s wants. The convenience that comes with owning a car is one factor driving the growing popularity of electric vehicles. The choice for clean fuels is further fueled by middle-class households’ increased disposable income and growing knowledge of the negative environmental effects of conventional fuels. Concurrently, an effective infrastructure for electric charging is being developed to accommodate the growing demand, characterised by breakthroughs in hardware and software technologies. Large investments are made in the integration of new technologies, such as SmartCar API applications that let customers know when their devices will need to be charged. The strong economic expansion of Vietnam and the government’s dedication to creating an environmentally responsible and sustainable automotive sector are in line with the increasing need for infrastructure for charging electric vehicles.

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Nevertheless, a number of obstacles still exist. It’s possible that some EV charging stations are made to support particular voltage ranges. Therefore, the lack of standard operating procedures in the current EV charging infrastructure may make it more difficult for Vietnam’s electric car charging infrastructure market to grow in the future. Moreover, a major obstacle is the requirement for large expenditures to be made in order to establish the infrastructure for charging. The establishment of a comprehensive and efficient charging network necessitates significant financial resources and logistical preparation.

Impact of COVID-19 on Vietnam EV Charging Infrastructure Market

The market for EV charging infrastructure in Vietnam was significantly impacted by the COVID-19 outbreak. Economic downturns and travel restrictions during the pandemic decreased the demand for electric vehicles overall, which in turn hampered the development of the infrastructure needed for charging them. Infrastructure development projects were also delayed by financial concerns and disruptions in the supply chain. But when the pandemic passes and national economic activity picks back up, the significance of electric vehicles for sustainability is becoming increasingly apparent. In the upcoming years, it is anticipated that this awareness, along with government incentives and support for EV adoption, will propel a rebound in the Vietnam EV charging infrastructure industry.

Vietnam EV Charging Infrastructure Market Key Players:

Additionally, some of the market key players are Electricity of Vietnam’s Central Power Corporation, HGPT Mechanical, Mitsubishi Motors Vietnam, Vietnam Oil & Gas Group (PVOIL), VinFast, Others, Others.

Our in-depth analysis of the Vietnam EV Charging Infrastructure Market includes the following segments:

By Type:

  • AC (Alternating Current)
  • DC (Direct Current)

By Vehicle Type:

  • Commercial Vehicle
  • Passenger Car
  • Two-Wheeler

By Installed Location:

  • Commercial
  • Residential

By Charging Mode:

  • Plug-in
  • Wireless

By Connector Type:

  • CCS
  • CHAdeMO
  • Type 1
  • Type 2
  • UK 3-Pin
  • Others

For More Information, refer to below link: –

Vietnam EV Charging Station Market Forecast Analysis

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Sara Lopes, Business Consultant — USA

SPER Market Research

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