Green machinery in Vietnam – opportunities for Swiss companies

Vietnam's green machinery market was valued at around USD 5.4 billion in 2024 and is expected to reach USD 7.8 billion by 2029. Growth is driven by the revised Power Development Plan VIII, stricter industrial wastewater standards, a pilot emissions trading system and new energy efficiency requirements for industry. Demand is strongest in three areas – renewable energy, including grid and battery storage technology, water treatment and waste-to-energy, and energy-efficient manufacturing and smart buildings. With green machinery imports of around USD 8.2 billion in 2023 and mostly low import duties, Vietnam relies heavily on foreign technology. This creates opportunities for Swiss expertise in areas such as hydropower and grid components, membrane filtration, measurement and control instruments, and waste heat recovery. At the same time, new localisation targets mean that local partnerships are becoming increasingly important for access to larger public and PPP projects.

Prepared by the Swiss Business Hub Southeast Asia + Pacific together with Dezan Shira & Associates, the report also covers the competitive landscape, sourcing and investment opportunities, import duties, technical standards and safety regulations. It compares practical market entry options – from distributors and joint ventures to local subsidiaries and alliances with Vietnamese partners – and highlights key points such as after-sales service and IP protection. Read the full report to assess your potential in Vietnam, and contact S-GE to discuss your next steps with our support on the ground.