Vietnam Micromobility Market

Overview

The Vietnam micromobility market was valued at USD 355.2 million in 2025 and is projected to reach USD 805.08 million by 2032, expanding at a CAGR of 12.40% from 2026 to 2032. The market is driven by the country’s rapidly expanding urban population, intensifying traffic congestion in major cities such as Hanoi and Ho Chi Minh City, and a strong policy push toward sustainable transportation. With a youthful population exceeding 98 million and one of the highest two-wheeler ownership rates globally approximately 72 million registered motorcycles as of 2024 Vietnam presents a uniquely fertile environment for the transition from conventional internal combustion engine vehicles to electric and shared micromobility solutions. This existing dependence on two-wheel mobility significantly lowers behavioral barriers to adoption, enabling faster penetration of e-scooters, e-bikes, and e-mopeds across urban and peri-urban regions. Additionally, rising fuel prices and increasing consumer awareness regarding air pollution and carbon emissions are accelerating the shift toward cleaner alternatives, while improvements in urban infrastructure, including dedicated lanes and smart mobility systems, are further supporting market expansion.

 

The market is further strengthened by robust government commitment to decarbonization and green mobility transformation. Vietnam’s net-zero emissions target by 2050 places the transport sector at the center of policy interventions, with the National Green Growth Strategy 2021–2030 allocating approximately VND 30 trillion (USD 1.26 billion) toward sustainable urban transport initiatives. A significant portion of this investment is directed toward micromobility infrastructure, battery ecosystems, and charging networks. Furthermore, the Ministry of Transport’s Electric Vehicle Roadmap aims to transition 100% of urban motorbikes to electric by 2040, creating a strong long-term demand pipeline for micromobility solutions. 

Market Size & Share

Market Dynamics

Rapid Urbanization and Urban Congestion Relief is the Key Trend

Vietnam's urban population is expanding rapidly, with Hanoi and Ho Chi Minh City together housing over 17 million residents and facing some of the worst traffic congestion in Southeast Asia. Average commute speeds in Ho Chi Minh City have fallen to below 17 km/h during peak hours, creating strong demand for agile, first-and-last-mile micromobility solutions. The adoption of e-scooters and e-bikes as primary urban commuting tools is accelerating, with Vietnam's e-bike sales reaching approximately 600,000 units in 2023 and projected to surpass 1.4 million units annually by 2027.

 

The government's Smart City initiatives, implemented across Hanoi, Da Nang, and Ho Chi Minh City, are earmarking USD 2.1 billion in combined urban mobility infrastructure spending through 2030, with integrated micromobility lanes and charging stations as key components. Vietnam's two-wheeler culture, deeply embedded in urban life, provides a natural transition pathway toward electric micromobility, with consumer familiarity reducing adoption barriers. App-enabled shared mobility platforms have recorded a 43% year-on-year growth in active users as of 2024, reflecting the rising digitization of urban transport behavior.

 

Government Policy Support and EV Incentive Programs is the Key Driver

The Vietnamese government has instituted a comprehensive suite of incentives to accelerate EV and micromobility adoption across the country. A 50% reduction in registration fees for electric motorcycles, effective from 2022 through 2025 under Decree 10/2022/ND-CP, has directly lowered the total cost of EV ownership for consumers. Import duty exemptions on EV components and battery technologies have reduced manufacturing costs by an estimated 15–20% for domestic producers. The Ministry of Science and Technology has channeled VND 2,400 billion (approximately USD 100 million) into EV research and development programs between 2021 and 2024, supporting battery technology innovation and vehicle safety standards. Provincial governments in Hanoi and Ho Chi Minh City have independently launched subsidy schemes providing USD 150–300 per unit to consumers transitioning from internal combustion engine (ICE) motorcycles to electric alternatives. The State Bank of Vietnam has introduced preferential green lending rates of 4–5% per annum for businesses and individuals purchasing certified EV and micromobility products, further stimulating consumer demand.

 

Expansion of Shared Micromobility and Tourism-Driven Demand is the Key Opportunity

Vietnam's booming tourism sector, which welcomed 12.6 million international visitors in 2023 and is targeting 17–18 million by 2025, represents a significant untapped revenue opportunity for shared micromobility operators. Cities such as Hoi An, Hue, Nha Trang, and Da Nang have witnessed rapid deployment of dockless e-bike and e-scooter fleets catering to both domestic and international tourists. Shared micromobility operators such as Dat Bike, Selex Motors, and regional players raised over USD 45 million collectively in 2022–2024 to scale fleet operations and expand into secondary cities. The post-COVID recovery of domestic tourism has also catalyzed demand for leisure micromobility, with weekend and holiday e-bike rentals growing at 37% year-on-year.

 

Corporate and university campus fleet deployments are emerging as a fast-growing segment, with companies such as Samsung, Intel, and LG Vietnam deploying internal electric shuttle and last-mile connectivity fleets across their industrial park facilities. Battery swapping networks, pioneered by players like Selex Motors, are enabling rapid turnaround for commercial fleet operators and reducing range anxiety, with over 300 swap stations deployed across Vietnam by end of 2024. The private ownership segment is growing strongly among students and young professionals, supported by accessible financing schemes from consumer lenders including FE Credit and Home Credit Vietnam.

Vietnam Micromobility Market Size, 2025–2032 (USD Million)

Segmentation Analysis

Analysis by Vehicle Type

E-scooters held the largest market share of 45.0% in 2025, driven by its strong alignment with Vietnam’s urban mobility realities, particularly the need for cost-effective, compact, and easy-to-navigate transport solutions in highly congested cities. Their lower upfront cost compared to larger electric two-wheelers, combined with reduced operating expenses such as minimal charging costs and limited maintenance requirements, makes them highly attractive to daily commuters, students, and gig economy workers.

 

E-bikes will grow at the fastest CAGR of 18.6% during the forecast period, driven by rising urban commuter demand, improved battery performance, and increasing adoption by students and young workers. Conventional bicycles, while declining as a primary transport mode in major cities, retain relevance in rural areas and are experiencing a revival in the leisure and tourism segment, with non-motorized cycling tours growing at 14% annually in resort destinations.

 

Vehicle type categories include:

•      E-Scooters (Largest Category)

•      E-Bikes (Fastest-Growing Category)

•      E-Mopeds

•      Conventional Bicycles

 

Analysis by Propulsion Type

The electric segment held the larger market share of 70.0% in 2025, it will grow at the fastest CAGR of 18.3% during the forecast period, driven primarily by a strong regulatory push and a clear shift in consumer preference toward cleaner mobility alternatives. Government policies promoting decarbonization such as long-term targets to electrify urban two-wheelers are accelerating the phase-out of fossil fuel-powered vehicles, creating a favorable demand environment for electric options.

 

Propulsion type categories include:

•      Electric (Larger and Faster-Growing Category)

•      Manual

 

Analysis by Battery Type

Lithium-ion batteries held the larger market share of 70.0% in 2025, it will grow at the fastest CAGR of 18.7% during the forecast period, driven by its clear performance and efficiency advantages, which make it the preferred choice for micromobility applications in Vietnam. Higher energy density enables longer travel ranges on a single charge, while lighter weight improves vehicle efficiency and handling both critical factors for urban commuters. This cost reduction is directly translating into more affordable electric two-wheelers, accelerating consumer adoption across price-sensitive segments.

 

Battery type categories include:

•      Lithium-ion (Larger and Faster-Growing Category)

•      Lead-acid

 

Analysis by Sharing Type

Dockless sharing held the larger market share of 85.0% in 2025, driven by operators for its lower infrastructure capital requirements and by users for its operational flexibility and convenience. Dockless systems allow vehicle drop-off at any approved zone, aligning with Vietnam's dispersed urban mobility patterns. Leading operators including Goviet (rebranded as Gojek Vietnam), Be Group, and Xanh SM have deployed dockless e-scooter and e-bike fleets across Ho Chi Minh City and Hanoi, with combined active fleet size exceeding 28,000 units as of 2025.

 

Docked sharing will grow at the faster CAGR of 18.3% during the forecast period, as urban authorities increasingly mandate designated parking zones to address sidewalk clutter and road safety concerns. Hanoi's Department of Transport announced a USD 12 million investment in 2023 to establish 250 designated docking stations across the city's central districts by 2026, creating structural demand for docked-fleet operators. The docked model also facilitates integrated multi-modal transport connections at metro stations along Hanoi's Cat Linh–Ha Dong and Nhon–Hanoi Station metro lines.

 

Sharing type categories include:

•      Dockless (Larger Category)

•      Docked (Faster-Growing Category)

 

Analysis by Usage

Short-distance commuting held the largest usage share of 65.0% in 2025, driven by Vietnam’s highly compact urban structure, where residential areas, offices, schools, and commercial hubs are located within close proximity. This spatial density naturally creates frequent travel needs over short ranges typically 3 to 8 kilometers which perfectly aligns with the capabilities of e-scooters and e-bikes.

 

Leisure and tourism will grow at the fastest CAGR of 18.4% during the forecast period, driven by Vietnam's thriving domestic and inbound tourism industry. Da Nang's smart tourism initiative, backed by USD 45 million in provincial funding, has integrated e-bike sharing stations across 38 key tourist attractions, parks, and beach destinations. UNESCO World Heritage Site Hoi An Ancient Town recorded over 120,000 e-bike rental trips per month during peak tourist season in 2024, illustrating the segment's revenue potential.

 

Usage categories include:

•      Short-Distance Commuting (Largest Category)

•      First & Last-Mile Connectivity

•      Leisure & Tourism (Fastest-Growing Category)

 

Analysis by Ownership Model

Private ownership held the larger market share of 75.0% in 2025, riven by Vietnam’s deeply ingrained preference for individually owned two-wheelers, where personal mobility is closely linked to convenience, flexibility, and daily independence. Privately owned vehicles allow users to travel on their own schedule without relying on external availability, which is especially important in urban areas with heavy congestion and evolving public transport systems. This strong cultural inclination continues to reinforce demand for personal micromobility solutions.

 

Shared mobility will grow at the faster CAGR of 18.2% during the forecast period, driven by rising urbanization, millennial consumer preference for access-over-ownership, and the expanding geographic footprint of platform operators. Vietnam's ride-hailing and shared mobility sector attracted USD 93 million in venture capital investment between 2022 and 2024, with Xanh SM (VinGroup's green mobility platform) alone deploying USD 60 million to rapidly scale its electric fleet.

 

Ownership model categories include:

•      Private Ownership (Larger Category)

•      Shared Mobility (Faster-Growing Category)

 

Analysis by Pricing Model

Pay-per-ride held the largest market share of 55.0% in 2025, driven by strong consumer preference for flexible, on-demand mobility that eliminates the need for long-term financial or usage commitments. This pricing model aligns well with urban travel behavior in Vietnam, where a large share of trips is short, spontaneous, and purpose-specific. Users benefit from the ability to pay only for actual usage, making it particularly appealing for occasional riders, daily short-distance commuters, and tourists who require quick and convenient transport without ownership responsibilities.

 

Subscription-based pricing will grow at the fastest CAGR of 18.1% during the forecast period, driven by the increasing need for predictable and cost-efficient mobility among frequent users such as office commuters and students. Monthly plans offering unlimited or bundled rides provide significant savings compared to repeated per-ride payments, making them highly attractive for daily travel needs. This pricing model also enhances user convenience by removing the need for continuous payment decisions, encouraging habitual usage and strengthening customer retention.

 

Pricing model categories include:

•      Pay-per-Ride (Largest Category)

•      Subscription-Based (Fastest-Growing Category)

•      Pay-as-you-go

 

Analysis by Technology

App-enabled vehicles held the largest technology share of 60.0% in 2025, driven by the rapid expansion of Vietnam’s digital ecosystem, particularly high smartphone penetration and widespread mobile internet usage. With a large share of the population connected via smartphones, users can seamlessly access micromobility services through mobile applications for vehicle unlocking, navigation, trip tracking, and cashless payments. This strong digital foundation makes app-based mobility both convenient and scalable, encouraging widespread adoption across urban populations.

 

Battery swapping systems will grow at the fastest CAGR of 18.5% during the forecast period, driven by their transformative impact on commercial fleet operations and range anxiety mitigation. Selex Motors, Vietnam's pioneering battery swap operator, secured a USD 9 million Series A funding round in 2022 and has since expanded its Seba battery swap network to over 300 stations across 12 provinces, targeting 1,000 stations by 2026. The company's model is particularly suited to Vietnam's delivery and logistics ecosystem, with major e-commerce platforms including Shopee and Lazada integrating swap-enabled e-mopeds into last-mile delivery operations.

 

Technology categories include:

•      App-enabled Vehicles (Largest Category)

•      Battery Swapping Systems (Fastest-Growing Category)

•      GPS-enabled Fleet Tracking

 

Analysis by End User

Commuters held the largest market share of 45.0% in 2025, as micromobility vehicles are widely used for daily travel to work and routine activities. The growing urban workforce and increasing traffic congestion have made micromobility an essential transport solution. Cost efficiency and time savings are key factors driving adoption among commuters.

 

Corporate and fleet users will grow at the fastest CAGR of 18.7% during the forecast period, driven by increasing adoption of micromobility solutions for last-mile delivery and employee transportation. Businesses are integrating electric fleets to reduce operational costs and meet sustainability goals. The rise of e-commerce and on-demand delivery services is further accelerating demand in this segment.

 

End user categories include:

•      Commuters (Largest Category)

•      Students

•      Tourists

•      Corporate / Fleet Users (Fastest-Growing Category)

Vietnam Micromobility Market Regional Analysis

Ho Chi Minh City held the largest regional market share of 44.0% in 2025, driven by its role as Vietnam's economic capital, with a GDP of approximately USD 52 billion and a population exceeding 9.3 million. The city's Metropolitan Transport Authority has approved a USD 350 million Sustainable Urban Mobility Plan (2023–2030) that dedicates 18% of budget allocation to micromobility infrastructure, including 180 kilometers of dedicated cycling and e-scooter lanes and 400 EV charging points. Ho Chi Minh City's Metro Line 1, inaugurated in late 2024, has created immediate demand for first-and-last-mile micromobility feeder services, with the city contracting Xanh SM to operate 2,000 e-bikes at 25 metro station hubs.

 

Hanoi will grow at the fastest CAGR of 19.0% during the forecast period, propelled by its status as the political capital, its rapidly expanding metro rail network, and provincial government commitments to eliminate ICE motorbikes from the city center by 2030. The Hanoi People's Committee has allocated VND 6,500 billion (approximately USD 270 million) toward green urban transport transformation through 2025, including dedicated micromobility lane networks connecting residential quarters to metro and bus rapid transit (BRT) hubs. Hanoi hosts over 750,000 university students, creating structural demand for affordable campus-to-transit e-bike connectivity. Secondary cities including Da Nang, Can Tho, Nha Trang, and Hue are emerging as high growth micromobility markets, supported by provincial smart city investments totaling USD 180 million across the four municipalities through 2027.

 

Provinces include:

·        Ho Chi Minh City (Largest Market)

·        Hanoi (Fastest-Growing Market)

·        Da Nang

·        Can Tho

·        Nha Trang

·        Hue

·        Hai Phong

·        Rest of Vietnam

Market Share

The Vietnam micromobility market is consolidated in nature because it consists of numerous players operating across different segments without a single entity dominating the entire market. The industry includes a wide mix of participants such as vehicle manufacturers, shared mobility operators, and digital platform providers, all competing within their respective niches. No single player holds a controlling share across the full value chain, which results in a dispersed competitive landscape. In addition, continuous entry of new players, evolving business models, and varying regional and segment-level dynamics keep competition high.

 

Key Players Covered

·        VinFast Auto Ltd. (Vietnam)

·        Dat Bike Co., Ltd. (Vietnam)

·        Selex Motors (Vietnam)

·        Xanh SM (VinGroup, Vietnam)

·        Be Group (Vietnam)

·        Gojek Vietnam (Indonesia)

·        Yadea Group Holdings Ltd. (China)

·        Pega (Vietnam)

·        HKbike (Vietnam)

·        Giant Manufacturing Co., Ltd. (Taiwan)

 

Market News

 

·        In January 2024, VinFast Auto Ltd. announced the launch of its new Evo200 and Evo300 electric scooter series targeted at urban millennials and students, backed by a VND 1,500 billion product development and marketing investment, with plans to achieve distribution across 200 dealerships in Vietnam within 12 months of launch.

·        In March 2024, Selex Motors secured a strategic partnership with Lazada Vietnam to integrate Seba battery-swap-enabled electric mopeds into Lazada's last-mile delivery network across Ho Chi Minh City and Hanoi, targeting deployment of 3,500 commercial e-mopeds across the logistics fleet by the end of 2024.

·        In June 2024, Xanh SM expanded its electric shared mobility fleet to Da Nang, deploying 1,200 e-bikes and 400 e-scooters across 35 docking stations in the city center, backed by USD 8 million in provincial co-investment under Da Nang's Smart Tourism Mobility Initiative.

·        In September 2024, Dat Bike announced the closing of its USD 10 million Series B funding round led by Do Ventures and Jungle Ventures, with proceeds earmarked for R&D of a new high-performance 75 km/h e-motorcycle model and expansion of its direct-to-consumer digital sales platform targeting the Vietnamese young professional demographic.

Frequently Asked Questions