The Vietnam green hydrogen market size was valued at USD 6.75 Million in 2024 and is forecasted to grow to USD 215.20 Million by 2033, with a CAGR of 46.92% during 2025-2033. The market growth is driven by rich renewable energy resources, foreign investments in pilot initiatives, and increasing demand from industrial and transport sectors, facilitating advancements in hydrogen technologies and international partnerships.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Vietnam Green Hydrogen Market Key Takeaways
- The market size stood at USD 6.75 Million in 2024 with projections reaching USD 215.20 Million by 2033, reflecting a CAGR of 46.92% over 2025-2033.
- Vietnam is implementing a national strategy focused on green hydrogen to transform its clean energy sector.
- The Ministry of Industry and Trade plans to scale green hydrogen production from 100,000 to 500,000 tonnes annually by renewable-powered electrolysis.
- Pilot projects in provinces like Trà Vinh, Bến Tre, and Bac Lieu demonstrate regional efforts to commercialize green hydrogen and ammonia cofiring.
- Policies such as Decree 58/2025 include tax incentives and land-use exemptions to attract investment in hydrogen projects.
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Market Growth Factors
Vietnam views its ambitious plans for the production of green hydrogen as core to its clean energy transition. Supported by strong government policies to channel renewables into the power, transport and manufacturing, the Ministry of Industry and Trade announced in February 2024 an agreement to produce between 100,000 and 500,000 tonnes of green hydrogen annually using electrolyzers powered by renewable electricity. It is a move towards increasing energy security, while positioning Vietnam as a regional clean energy exporter as part of a thorough decarbonization strategy and the emergence of new energy export opportunities.
National green hydrogen infrastructure is being implemented in stages, with pilot projects, regional infrastructure and technical standards to ease replication. In March 2025, pilot projects started up within Trà Vinh and Bến Tre provinces and within Bac Lieu Province, for producing green hydrogen and cofiring ammonia in power plants. These projects aim to de-risk and deploy technology at scale through investment in storage, transportation, and industrial clusters integrating, showing policy transitioned from experimenting to industrially adopt the hydrogen economy in the real world.
In March 2024, the Government of Vietnam announced that they would establish zones for production of large-scale hydrogen through electrolysis near wind and solar plant construction. Wind and solar resources are abundant in quantity. Decree 58/2025 incentivizes establishing hydrogen production zones under it. The decree provides tax incentives in addition to exempting land clearance and lowering the cost of electricity. Producing more hydrogen can happen and may cost less. Green hydrogen is able to meet domestic energy needs and export to other countries. This position reinforces Vietnam's commitment so it can sustain energy in the future.
Market Segmentation
Technology Insights:
- Proton Exchange Membrane Electrolyzer
- Alkaline Electrolyzer
- Others
The market is segmented by technology into proton exchange membrane electrolyzer, alkaline electrolyzer, and other types, reflecting the diverse production methods utilized.
Application Insights:
- Power Generation
- Transport
- Others
Applications include power generation, transport, and additional sectors, indicating versatile uses of green hydrogen across industries.
Distribution Channel Insights:
- Pipeline
- Cargo
Distribution channels comprise pipeline and cargo delivery methods, facilitating the mobility and supply of green hydrogen.
Regional Insights
The Vietnam green hydrogen market covers Northern Vietnam, Central Vietnam, and Southern Vietnam, with regional initiatives, such as pilot projects in Southern Vietnam provinces like Trà Vinh, Bến Tre, and Bac Lieu, demonstrating targeted infrastructure development. These regional projects lay the groundwork for the national expansion of green hydrogen, supporting industrial integration and operational deployment.
Recent Developments & News
In May 2025, HDF Energy partnered with Southern Power Corporation (EVNSPC), a subsidiary of Vietnam Electricity (EVN), to develop green hydrogen power in Vietnam. The collaboration aims to supply reliable, 24/7 clean electricity to remote islands, reducing diesel dependence, through feasibility studies and project site identification. In April 2025, John Cockerill signed a Memorandum of Understanding with The Green Solutions Group (TGS) to provide pressurized alkaline electrolysers for green hydrogen and ammonia production projects in Trà Vinh and Bến Tre, blending hydrogen solutions with renewable energy initiatives in the Mekong Delta. The MoU was signed during Belgium's State Visit to Vietnam, highlighting sustainable development commitments.
Competitive Landscape
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
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