Vietnam’s ride-hailing Market Size, Share & Trends 2025-30

 Introduction 

The Vietnam ride-hailing market is projected to be valued at USD 1.05 billion in 2025 and is anticipated to grow to USD 2.56 billion by 2030, registering a compound annual growth rate (CAGR) of 19.5% over the forecast period from 2025 to 2030. 

Vietnam’s ride-hailing industry is undergoing a major transformation, driven by growing urban demand, digital connectivity, and a rising preference for app-based mobility. With a projected market value exceeding USD 2.5 billion by 2030, the sector is expanding rapidly across both major cities and secondary provinces. Companies like Grab, Xanh SM, and Be are competing to capture a growing user base that relies on motorbike taxis and electric cars for daily commutes, social travel, and delivery services. As electric vehicle adoption gains traction and super-app ecosystems grow deeper, Vietnam's ride-hailing market is positioning itself as one of Southeast Asia’s fastest-growing digital mobility sectors. 

 

Market Trends 

  • Rapid Expansion of Electric Vehicle (EV) Ride-Hailing Fleets 
     Vietnam-based Xanh SM is leading the shift toward all-electric taxi services, with a growing fleet of Vin Fast EVs. This aligns with national goals for greener urban transport and sets the pace for other players to invest in EV adoption. 

  • Growing User Penetration Across Urban and Tier-2 Cities 
     Ride-hailing is no longer limited to major cities like Hanoi and Ho Chi Minh City. Increasing smartphone and 4G usage are enabling platform expansion in smaller cities, widening the user base significantly. 

  • High Frequency of App-Based Bookings 
     Surveys show that a majority of users book rides at least three times per month via apps, highlighting the convenience and habitual usage of ride-hailing services for commuting, dining, and shopping. 

  • Dual-Mode Usage: Cars and Motorbikes 
     Vietnamese consumers frequently use both car and motorbike ride-hailing services, depending on distance, traffic, and cost. Motorbike taxis remain a popular and flexible option for short-distance travel. 

  • Rise of Super-App Ecosystems 
     Platforms like Grab and Be are bundling ride-hailing with food delivery, e-wallets, and other digital services. This integration drives higher user engagement and app stickiness across daily needs. 

  • Strong Domestic Competition with Local Players Gaining Ground 
     Local companies such as Xanh SM and Be are rapidly increasing their market share, challenging the dominance of established global players through strategic pricing, service quality, and localized offerings. 

  • Shift Toward Cashless Payments 
     The integration of digital wallets like MoMo and ZaloPay into ride-hailing platforms is accelerating cashless transactions, improving convenience and user experience across the country. 

  • Government Push for Greener Mobility Policies 
     Vietnam’s sustainability goals include transitioning to electric vehicles and reducing urban emissions. Ride-hailing platforms that prioritize eco-friendly fleets are positioned to benefit from regulatory support. 

 

Market Segmentation 

By Vehicle Type 

  • Passenger Cars 
     Car-based services remain strong in urban centers such as Hà Nội and HCMC, catering to longer-distance and premium rides. Demand for vehicle comfort and reliability drives this segment. 

  • Motorcycles 
     Motorcycle taxis (xe ôm) dominate everyday urban transport thanks to low cost, high flexibility, and short‑distance convenience especially in congested areas  

 

By Propulsion Type 

  • Internal Combustion Engine (ICE) 
     ICE‑powered vehicles currently contribute the bulk of ride‑hailing revenue, supported by long-established supply chains and lower upfront costs. 

  • Electric Vehicles (EV) 
     EV uptake is accelerating, driven by sustainability goals and EV‑focused fleets like those of VinFast and Xanh SM—aligned with government initiatives pushing for cleaner mobility 

 

By Province 

  • Hà Nội 
     As the capital, Hà Nội is a leading market for both ICE and EV ride‑hailing services. The city's planned ban on fossil‑fuel motorcycles by July 2026 will likely prompt significant transition toward EV-based models. 

  • Ho Chi Minh City 
     Vietnam’s most economically active city and biggest ride‑hailing hub. High urban density, strong internet/mobile penetration, and evolving consumer preferences support both car and motorbike services 

 

Vietnam Ride-hailing Market Leaders  

  • Xanh SM (GSM) 

  • FastGo  

  • Go-Jek (Go-Viet) 

  • GrabTaxi Holdings Pte Ltd 

  • Be Group USC 

 

Conclusion 

Vietnam’s ride-hailing market is experiencing rapid growth, driven by urbanization, increasing smartphone penetration, and changing consumer preferences for convenient, app-based mobility. With the market projected to reach USD 2.56 billion by 2030, the industry is poised for sustained expansion. 

 

For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/vietnam-ride-hailing-market?utm_source=blogger 

 

About Mordor Intelligence:  

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. 

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics. 

For any inquiries or to access the full report, please contact: 

media@mordorintelligence.com  
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