Vietnam Green Building Market, By Product Type; By Application; By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2031

Vietnam Green Building Market Size Set to Reach USD 32 Billion by 2031

Vietnam Green Building Market is booming primarily due to evolving government policies and regulations, ambitious national sustainability objectives, and compelling economic incentives.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Green Building Market size by value at USD 20.55 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Vietnam Green Building Market size to expand at a significant CAGR of 6.50% reaching a value of USD 31.94 billion by 2031. The growth of Green Building Market in Vietnam is propelled by rapid urbanization, increasing environmental awareness, and a strong governmental commitment to sustainable development, including ambitious targets to reduce greenhouse gas emissions by 2030 and achieve net-zero by 2050. This commitment has led to the implementation of Green Building Codes and energy efficiency regulations, fostering green practices across all construction sectors. The country's infrastructure boom, expanding industrial zones, and significant foreign direct investment-particularly in transport, energy, and manufacturing-have significantly propelled green building adoption, especially evident in the surge for certified green industrial parks. This heightened demand resulted in 163 buildings certified in 2024 alone, more than doubling the previous year's figure, bringing the total to nearly 430 green-certified buildings by Q1 2024, a number projected to exceed 582 by 2030, far surpassing original targets. Widely recognized certification systems like EDGE, LEED, Green Mark, and LOTUS are prevalent, with EDGE holding the largest share. This momentum is further supported by government incentives such as tax reductions and subsidies, alongside digital transformation trends leveraging technologies like AI, robotics, and BIM. These dynamics create significant opportunities for U.S. and international companies in sustainable design, energy-efficient materials, and smart construction technologies, often best pursued through partnerships with local developers. Key urban centers including Ho Chi Minh City, Hanoi, Binh Duong, Bac Ninh, and Hai Phong are spearheading this green transition, with Ho Chi Minh City leading in certified green floor area. Industrial green buildings have emerged as a dominant force, fueled by manufacturing relocation, increased production capacity, and the need for globally compliant facilities. While the residential sector faced earlier challenges, it is now recovering due to urban expansion, a growing middle class, and legal reforms simplifying foreign property ownership. Collectively, these factors underscore Vietnam's accelerated progress toward sustainable urban development and firmly establish the country as a rising leader in the Southeast Asian green building landscape.

Opportunity - Adoption of Smart Building Technologies

Smart building technologies are driving significant growth opportunities in Vietnam Green Building Market. Innovations, such as green materials, advanced insulation, and energy-efficient construction methods, are transforming the industry by reducing environmental impact and improving building performance. Technologies like Building Information Modeling (BIM) and Internet of Things (IoT)-based systems optimize resource use and enhance building accuracy, aligning with Vietnam's commitment to sustainable development and its Net Zero goal by 2050. For example, in June 2024, SCG introduced SCG Low Carbon Super Cement in Vietnam, which lowers carbon emissions by 20% through environmentally friendly production technologies, supporting sustainable construction while maintaining durability. Additionally, companies like CADIVI have launched eco-friendly electrical wires with lead-free and low-smoke materials, contributing to energy efficiency and sustainability in construction. Vietnamese enterprises are increasingly investing in research and development to produce green products such as eco-friendly concrete, recycled steel, and sustainable piping alternatives. This focus on innovation, combined with government policies and growing environmental awareness, positions smart building technologies as a key driver in advancing Vietnam's green building sector and achieving its ambitious sustainability targets.

Residential Segment Dominates Vietnam Green Building Market

Vietnam Green Building Market is primarily driven by the residential segment, a dominance fueled by rapid urbanization, increasing environmental awareness among residents, and robust government support for sustainable urban development. Developers are actively integrating energy-efficient systems, water-saving features, and eco-friendly materials to meet rising demand for green housing, offering benefits like long-term cost savings, improved living conditions, and reduced environmental impact that attract both residents and investors. Modern residential projects increasingly incorporate smart technologies, solar energy solutions, and green spaces, aligning with international sustainability standards, with Northern Vietnam, particularly Hanoi and Hai Phong, leading this transformation due to supportive policies and strong market demand. Exemplifying this shift are projects like Sun Urban City in Ha Nam, which blends luxury with ecological design, and collaborative efforts such as the CBRE Vietnam and VSSE partnership promoting Zero Energy Buildings, all underscoring the sector's commitment to energy efficiency and sustainable growth.

Impact of Escalating Geopolitical Tensions on Vietnam Green Building Market

Intensifying geopolitical tensions could have a multifaceted impact on Vietnam Green Building Market. Disruptions in global supply chains may lead to delays or increased costs for sustainable construction materials and energy-efficient technologies, many of which are imported. Rising uncertainty can also deter foreign direct investment, slowing the development of green industrial parks and infrastructure. Additionally, shifting trade alliances and energy security concerns may force Vietnam to reevaluate its green energy imports and policy priorities. Despite these challenges, Vietnam's strong commitment to sustainable development and support from international organizations could help cushion the market against prolonged geopolitical instability and maintain green growth momentum.

Competitive Landscape

Vietnam Green Building Market is highly fragmented, with numerous players serving the market. Major companies dominating the market include Saint-Gobain Vietnam, Cong ty TNHH Mapei Viet Nam, Knauf Vietnam Co., Ltd, Nichias Vietnam Co., Ltd, Akzo Nobel Vietnam Ltd, CONG TY TNHH KINGSPAN, Siam City Cement (Vietnam) Limited, Phuong Nam Insulation Company Limited, Mitsui & Co. Vietnam Ltd, and ABB Vietnam. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Vietnam Green Building Market.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Vietnam Green Building Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Green Building Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.