Norway Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Norway Power Market is segmented by Power Generation (Thermal, Hydropower, and Renewables) and Power Transmission and Distribution. The report offers the market size and forecasts for electricity generation capacity (MW).

Norway Power Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Norway Power Market Size

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Norway Power Market Summary
Study Period 2021 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2021 - 2023
CAGR 2.00 %
Market Concentration Low

Major Players

Norway Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Norway Power Market Analysis

The Norway Power Market is expected to register a CAGR of greater than 2% during the forecast period.

The Norway power market was negatively impacted by the COVID-19 pandemic due to regional lockdowns and decreased power demand. However, the market rebounded in 2022.

Over the medium term, factors like a rising population, and the development of power generation systems, are spurred by increasing demand for electricity in the country. The phasing out of coal-based power plants in the country, which had a major effect on demand for power plants, continues to promote the use of renewable power sources. However, stringent government regulations and project delays are expected to hinder the growth of the market studied during the forecast period.

The rapidly increasing generation capacity, mostly from hydropower, is expected to increase grid connectivity. This, in turn, is expected to provide significant opportunities for the power sector in the country in the future.

Norway Power Industry Overview

The Norwegian power market is consolidated. Some of the key players in this market are (in no particular order) Statkraft AS, Agder Energi SA, Energi Teknikk AS, Rainpower Holding AS, and SN Power AS.

Norway Power Market Leaders

  1. Statkraft AS

  2. Agder Energi SA

  3. Energi Teknikk AS

  4. Rainpower Holding AS

  5. SN Power AS

  6. *Disclaimer: Major Players sorted in no particular order
Norway Power Market Concentration
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Norway Power Market News

In June 2022, Statkraft commissioned two new small hydropower plants in Norway, located on opposite sides of the Hardanger mountain plateau. The Vesle Kjela and Storlia plants will produce enough electricity to power around 4,000 Norwegian households annually.

Norway Power Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Installed Power Generating Capacity and Forecast in GW, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 By Power Generation
    • 5.1.1 Thermal
    • 5.1.2 Hydropower
    • 5.1.3 Renewables
  • 5.2 By Power Transmission and Distribution

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Statkraft AS
    • 6.3.2 Agder Energi SA
    • 6.3.3 Energi Teknikk AS
    • 6.3.4 Rainpower Holding AS
    • 6.3.5 SN Power AS
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Norway Power Industry Segmentation

The generation of electricity through various sources like fossil fuels, renewable energies, nuclear energy, etc., and the transmission and distribution of electricity to the end user is considered the power market. 

The market is segmented by sector into power generation (thermal, hydropower, and nuclear) and transmission and distribution. The market sizing and forecasts have been done based on electricity generation capacity (MW).

By Power Generation Thermal
Hydropower
Renewables
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Norway Power Market Research FAQs

What is the current Norway Power Market size?

The Norway Power Market is projected to register a CAGR of greater than 2% during the forecast period (2025-2030)

Who are the key players in Norway Power Market?

Statkraft AS, Agder Energi SA, Energi Teknikk AS, Rainpower Holding AS and SN Power AS are the major companies operating in the Norway Power Market.

What years does this Norway Power Market cover?

The report covers the Norway Power Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the Norway Power Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Norway Power Industry Report

Statistics for the 2025 Norway Power market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Norway Power analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.