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Solar PV Equipment Market in Vietnam is expected to reach USD ~9.61 Bn in 2027E owing to the government's commitment to energy security and technological improvements & reduced costs: Ken Research
: There is a great potential for green transition in Vietnam , which by 2050 can become a net zero-carbon economy. Within the Net Zero Emissions Targets 2050 for Renewable Energy, the Government of Vietnam aims to comprise 75% of energy source from Solar. Meeting such targets as a country only reflects the huge potential and capacity the country has and is aiming to develop in future. To reach net zero emissions by 2050 at least cost, renewable electricity should be the main substitute for fossil fuels, either directly or indirectly.
Vietnam's Solar PV Installed Capacity is likely to contribute 21% of the total installed power capacity of the country by 2027E. Market is attracting significant investments in recent years and is expected to have a total Installed Capacity of Solar PV Equipment of 28200 MW by 2027E. Vietnam Total Installed Power Capacity is expected to increase at a CAGR of 10% in order to cater to the needs from industrial expansion and technological advancements.
With the advantage of cheaper land, no space constraints, and other costs, northern region is likely to grow in the future, reaching a 18% market share by 2027E. While south is still likely to remain the developed hub of Vietnam with the highest market share for Solar PV Installed Capacity. However, since land is limited, the southern region has started to saturate and crowded now, reducing its share from 70% to 62% by 2027E. The central highlands region is likely to increase its capacity by 3% to a total 20% by 2027E.
Analysts at in their latest publication- by Ken Research provides a comprehensive analysis of the potential of the Vietnam Solar PV Equipment Market. Public demand for environmental protection and the Government's intention to develop solar power generation as a new economic sector are expected to contribute to the market growth over the forecast period. Vietnam Solar PV Equipment Market is expected to grow at a robust CAGR over the forecasted period 2023E-2027E.
The Europe Solar Photovoltaic Panel Market is expected to witness a CAGR of above 19% over the next 5 years, owing to the rise in the demand for energy, favorable government policies and increasing incentives for the adoption of renewable energy sources in the region. Furthermore, most of the countries in Europe are either expanding/building new power plants or are shifting towards renewable sources of energy especially solar power to meet the rise in demand.
KSA Industrial Waste Water Treatment Market in terms of capital expenditure is anticipated to Grow at a double digit CAGR during the Period 2021 – 2026F, due to increase in Industrial Establishments in 2026F owing to rise in Industrialization and big initiatives by the KSA government. The rising growing population along with the ever-growing need of industries in order to cater the consumer demand of the Indonesian population, is expected to contribute to the market growth over the forecast period.
Philippines Industrial Waste Water Treatment Market is Expected to Generate $46.5 Mn in Revenue, due to increase in Industrial Establishments in 2026F owing to rise in Industrialization and big initiatives by the Philippines government. The rising growing population along with the ever-growing need of industries in order to cater the consumer demand of the Indonesian population, is expected to contribute to the market growth over the forecast period.
The rising growing population along with the ever growing need of industries in order to cater the consumer demand of the Indonesian population, is expected to contribute to the market growth over the forecast period. Jakarta's population is anticipated to grow from 95.4 Mn to 11.8 Mn at a growth rate of 1.7%. With the shift to a new capital of Kalimantan , Kalimantan is the area on the watchlist which is anticipated to grow even further.
Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth
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