Key Insights
The Vietnam power generation engineering, procurement, and construction (EPC) industry is experiencing robust growth, fueled by increasing energy demands and government initiatives to diversify the energy mix. The market, currently valued in the hundreds of millions of USD (a precise figure requires further data), exhibits a Compound Annual Growth Rate (CAGR) exceeding 3% through 2033. Key drivers include rising industrialization, expanding urbanization, and a transition towards cleaner energy sources. This transition is evident in the increasing adoption of lithium-ion batteries within the energy storage segment of the EPC market, alongside ongoing utilization of lead-acid and other battery technologies. The market is segmented by battery type (lithium-ion, lead-acid, flow, others) and connection type (on-grid, off-grid), reflecting the diverse needs of Vietnam's power generation landscape. Companies like LILAMA Corporation, PALMA VIET NAM, and international players such as Toshiba and AES Corporation are actively shaping the market's competitive dynamics. The off-grid segment is expected to see significant growth driven by the need to electrify remote areas. However, challenges such as regulatory hurdles and potential supply chain disruptions could pose restraints on the industry's growth trajectory. The forecast period (2025-2033) promises sustained expansion, with strategic investments in renewable energy and grid modernization expected to further propel the market's momentum.
The robust growth in the Vietnam power generation EPC industry reflects the nation's ambitious economic development plans. The focus on enhancing energy infrastructure to support industrial growth and improve living standards will continue to fuel demand for EPC services. While the specific market size for 2025 requires further detailed market research, the existing CAGR and industry trends suggest a substantial and rapidly expanding market. The diversification in battery technology adoption highlights the evolving nature of the sector, moving towards more sustainable and efficient solutions. Continued government support for renewable energy projects, including solar and wind power, will be crucial in driving the long-term growth potential of the market. Competition will likely intensify as both domestic and international companies vie for market share, leading to innovation and efficiency gains.

Vietnam Power Generation EPC Industry Report: 2019-2033
This comprehensive report provides an in-depth analysis of the Vietnam Power Generation EPC industry, offering invaluable insights for industry professionals, investors, and strategic planners. Covering the period from 2019 to 2033, with a focus on 2025, this report dissects market dynamics, key players, emerging trends, and future growth potential.
Vietnam Power Generation EPC Industry Market Structure & Innovation Trends
This section analyzes the competitive landscape of Vietnam's power generation EPC market, examining market concentration, innovation drivers, and regulatory influences. We delve into the role of mergers and acquisitions (M&A) activities, evaluating their impact on market share and overall industry structure. The analysis incorporates data on market share distribution among key players, including LILAMA Corporation, PALMA VIET NAM, Doosan Heavy Industries Construction Co Ltd, Toshiba Corp, AES Corporation, IHI Corp, JGC HOLDINGS CORPORATION, CTCI Corporation, and others. We examine the influence of government regulations and policies on technological advancements and market consolidation. The report also explores the emergence of substitute technologies and their potential to disrupt the existing market structure. An analysis of end-user demographics, including power generation companies and industrial consumers, further enriches the understanding of market segmentation.
- Market Concentration: xx% dominated by top 5 players in 2025 (estimated).
- M&A Activity: Total deal value estimated at USD xx Billion between 2019-2024.
- Innovation Drivers: Government incentives for renewable energy, increasing energy demand.
- Regulatory Framework: Analysis of key policies impacting EPC projects.
- Product Substitutes: Assessment of emerging technologies and their competitive threat.

Vietnam Power Generation EPC Industry Market Dynamics & Trends
This section explores the key factors driving the growth of Vietnam's power generation EPC market, including technological advancements, evolving consumer preferences, and competitive dynamics. We analyze the Compound Annual Growth Rate (CAGR) and market penetration rates for various segments, providing a granular view of market evolution. Detailed analysis of the interplay between supply and demand dynamics, coupled with an evaluation of macroeconomic indicators (GDP growth, investment trends) will shed light on the factors propelling market expansion. Specific discussion will cover the influence of technological advancements, including the adoption of smart grids and renewable energy technologies, on industry growth. We consider the impact of changing consumer preferences, focusing on energy security and environmental sustainability concerns.

Dominant Regions & Segments in Vietnam Power Generation EPC Industry
This section pinpoints the leading regions and segments within the Vietnam Power Generation EPC industry. We analyze the dominance of specific geographical areas in terms of project activity and market share. The report also identifies the dominant battery types (Lithium-ion, Lead-acid, Flow, Other Battery Types) and connection types (On-grid, Off-grid) driving growth.
Dominant Battery Type: Lithium-ion batteries are expected to dominate due to higher energy density and efficiency (estimated xx% market share by 2025).
- Lithium-ion Key Drivers: Government subsidies, growing demand for electric vehicles and energy storage.
- Lead-acid Key Drivers: Cost-effectiveness and established infrastructure for recycling.
- On-grid Key Drivers: Greater reliability and efficiency due to established grid infrastructure.
- Off-grid Key Drivers: Increasing demand for electricity in remote areas.
Dominant Connection Type: On-grid connections dominate due to established infrastructure and governmental support.
Vietnam Power Generation EPC Industry Product Innovations
This section summarizes recent product developments, highlighting key technological advancements and competitive advantages. We analyze the market fit of these innovations, assessing their potential to transform the industry. The focus will be on efficiency improvements, reduced environmental impact, and cost reduction strategies employed by leading players.
Report Scope & Segmentation Analysis
This report segments the Vietnam Power Generation EPC market by battery type (Lithium-ion, Lead-acid, Flow, Other Battery Types) and connection type (On-grid, Off-grid). Each segment's growth projection, market size, and competitive dynamics are detailed, providing a comprehensive understanding of the market landscape.
Battery Type Segmentation: Each battery type segment includes market size projections, growth rates, and competitive analysis.
Connection Type Segmentation: Each connection type includes market size projections, growth rates and competitive analysis.
Key Drivers of Vietnam Power Generation EPC Industry Growth
This section identifies and analyzes the key factors driving growth within the Vietnam Power Generation EPC industry. We examine the interplay of technological advancements, supportive economic policies, and favorable regulatory environments. Specific examples include government investment in renewable energy infrastructure and increasing energy demand from a growing industrial sector.
Challenges in the Vietnam Power Generation EPC Industry Sector
This section discusses the challenges facing the Vietnam Power Generation EPC industry. We assess the impact of regulatory hurdles, supply chain disruptions, and competitive pressures on industry profitability and expansion. Quantifiable impacts are provided wherever possible.
Emerging Opportunities in Vietnam Power Generation EPC Industry
This section highlights promising trends and opportunities in the Vietnam Power Generation EPC industry. We explore potential new markets, technological breakthroughs, and shifting consumer preferences that could create new avenues for growth and innovation.
Leading Players in the Vietnam Power Generation EPC Industry Market
- LILAMA Corporation
- PALMA VIET NAM
- Doosan Heavy Industries Construction Co Ltd
- Toshiba Corp
- AES Corporation
- IHI Corp
- JGC HOLDINGS CORPORATION
- CTCI Corporation
Key Developments in Vietnam Power Generation EPC Industry
- March 2022: Samsung C&T and Lilama secured a USD 1.04 Billion EPC contract for the 1.5 GW Nhon Trach 3&4 power plant.
- December 2021: Risen Energy and Tasco secured an EPC contract for the Phuoc Thai 2 and 3 solar power plants (150 MWp total capacity).
Future Outlook for Vietnam Power Generation EPC Industry Market
This section summarizes the key growth accelerators and strategic opportunities expected to shape the future of the Vietnam Power Generation EPC market. We explore the market's potential for expansion and identify key factors that will influence its trajectory over the forecast period. The analysis incorporates projections for market size, technological advancements, and evolving regulatory landscapes.
Vietnam Power Generation EPC Industry Segmentation
- 1. Production Analysis
- 2. Consumption Analysis
- 3. Import Market Analysis (Value & Volume)
- 4. Export Market Analysis (Value & Volume)
- 5. Price Trend Analysis
Vietnam Power Generation EPC Industry Segmentation By Geography
- 1. Vietnam

Vietnam Power Generation EPC Industry REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of > 3.00% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Declining Cost of Energy Storage Technologies4.; Government Initiatives to Promote Energy Storage Deployment
- 3.3. Market Restrains
- 3.3.1. 4.; Uncertainty in the Rules Governing Energy Storage Operations and Ownership
- 3.4. Market Trends
- 3.4.1. Thermal Expected to Dominate the Market
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Vietnam Power Generation EPC Industry Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Production Analysis
- 5.2. Market Analysis, Insights and Forecast - by Consumption Analysis
- 5.3. Market Analysis, Insights and Forecast - by Import Market Analysis (Value & Volume)
- 5.4. Market Analysis, Insights and Forecast - by Export Market Analysis (Value & Volume)
- 5.5. Market Analysis, Insights and Forecast - by Price Trend Analysis
- 5.6. Market Analysis, Insights and Forecast - by Region
- 5.6.1. Vietnam
- 5.1. Market Analysis, Insights and Forecast - by Production Analysis
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- 6.2. Company Profiles
- 6.2.1 LILAMA Corporation
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 PALMA VIET NAM
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Doosan Heavy Industries Construction Co Ltd
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 Toshiba Corp
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 AES Corporation
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 IHI Corp
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 JGC HOLDINGS CORPORATION*List Not Exhaustive
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 CTCI Corporation
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.1 LILAMA Corporation
List of Figures
- Figure 1: Vietnam Power Generation EPC Industry Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: Vietnam Power Generation EPC Industry Share (%) by Company 2024
List of Tables
- Table 1: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Production Analysis 2019 & 2032
- Table 3: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Consumption Analysis 2019 & 2032
- Table 4: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Import Market Analysis (Value & Volume) 2019 & 2032
- Table 5: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Export Market Analysis (Value & Volume) 2019 & 2032
- Table 6: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Price Trend Analysis 2019 & 2032
- Table 7: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 8: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 9: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Production Analysis 2019 & 2032
- Table 10: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Consumption Analysis 2019 & 2032
- Table 11: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Import Market Analysis (Value & Volume) 2019 & 2032
- Table 12: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Export Market Analysis (Value & Volume) 2019 & 2032
- Table 13: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Price Trend Analysis 2019 & 2032
- Table 14: Vietnam Power Generation EPC Industry Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Vietnam Power Generation EPC Industry?
The projected CAGR is approximately > 3.00%.
2. Which companies are prominent players in the Vietnam Power Generation EPC Industry?
Key companies in the market include LILAMA Corporation, PALMA VIET NAM, Doosan Heavy Industries Construction Co Ltd, Toshiba Corp, AES Corporation, IHI Corp, JGC HOLDINGS CORPORATION*List Not Exhaustive, CTCI Corporation.
3. What are the main segments of the Vietnam Power Generation EPC Industry?
The market segments include Production Analysis, Consumption Analysis, Import Market Analysis (Value & Volume), Export Market Analysis (Value & Volume), Price Trend Analysis.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
4.; Declining Cost of Energy Storage Technologies4.; Government Initiatives to Promote Energy Storage Deployment.
6. What are the notable trends driving market growth?
Thermal Expected to Dominate the Market.
7. Are there any restraints impacting market growth?
4.; Uncertainty in the Rules Governing Energy Storage Operations and Ownership.
8. Can you provide examples of recent developments in the market?
March 2022: Samsung C&T and Lilama secured an engineering, procurement, and construction (EPC) contract worth VND 24.14 billion (USD1.04 billion) from PetroVietnam Power for the 1.5 GW Nhon Trach 3&4 power plant in Vietnam. The project is expected to be commissioned during the 2023-2024 period. Nhon Trach 3&4 is Vietnam's first liquefied natural gas (LNG) fueled power plant.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Vietnam Power Generation EPC Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Vietnam Power Generation EPC Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Vietnam Power Generation EPC Industry?
To stay informed about further developments, trends, and reports in the Vietnam Power Generation EPC Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence