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

The Oman Power Market Report is Segmented by Power Generation From Source (Natural Gas, Oil, and Renewables) and Power Transmission and Distribution (T&D). The Report Offers Market Size and Forecasts in Installed Capacity for all the Above Segments, Except Power Transmission and Distribution (T&D).

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

Oman Power Market Size

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Oman Power Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 16.36 gigawatt
Market Volume (2030) 20.29 gigawatt
CAGR 4.40 %
Market Concentration High

Major Players

Oman Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Oman Power Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

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Emerging Energy Technologies

Energy Storage Technology

Oman Power Market Analysis

The Oman Power Market size is estimated at 16.36 gigawatt in 2025, and is expected to reach 20.29 gigawatt by 2030, at a CAGR of 4.4% during the forecast period (2025-2030).

• Over the short term, upcoming new renewable projects in the country, such as the expansion of transmission and distribution projects, are expected to drive the market studied during the forecast period.

• On the other hand, market growth may face obstacles due to the lack of private participation in the country's power sector, thus restraining it.

• Nevertheless, Oman has gained political stability in the recent past. Under the government's Vision 2040 development strategy to boost tourism, modernize agriculture, establish free industrial zones, and foster a technology and start-up ecosystem, it is expected to bolster the power demand to the greatest extent, creating an opportunity for the market during the forecast period.

Competitive Landscape

The Omani power market is consolidated. Some key players (in no particular order) include Oman Electricity Transmission Company, Muscat Electricity Distribution Company, Majan Electricity Distribution Company, Mazoon Electricity Distribution Company, and Dhofar Power Company.

Oman Power Market Leaders

  1. Muscat Electricity Distribution Company

  2. Mazoon Electricity Distribution Company-

  3. Oman Electricity Transmission Company SAOC

  4. Dhofar Power Company (DGC)

  5. Majan Electricity Distribution Company (SAOC)

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

• April 2024: Technip Energies contracted with TotalEnergies and OQ for the Marsa LNG bunkering project in Sohar, Oman. The company will construct a solar-powered LNG Plant in Oman.

• March 2023: Sembcorp Industries was awarded the contract for the construction, ownership, and operation of the Manah Solar II Independent Power Project (IPP) in Manah, Oman. Oman Power and Water Procurement Company (OPWP) awarded the contract to the company. The agreement was won through a joint venture formed by Sembcorp's subsidiary, Sembcorp Utilities, and Jinko Power Technology. The 500 MW solar installation will be operational by 2025, covered by a 20-year power purchase agreement (PPA) with OPWP.

• January 2022: ACWA Power commissioned the 500 MW Ibri 2 solar independent power project in Oman in partnership with the Oman Power and Water Procurement Company (OPWP). The project generates clean energy to power 50,000 homes and displaces 340,000 tons of carbon emissions annually.

Oman 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 Capacity and Forecast, until 2029
  • 4.3 Electricity Generation Mix, 2023
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies, Regulations, and Targets
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.1.1 Upcoming New Renewable Projects in the Country
    • 4.6.1.2 Expansions of Transmission and Distribution Network
    • 4.6.2 Restraints
    • 4.6.2.1 Lack of Private Participation in the Country's Power Sector
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Power Generation by Source
    • 5.1.1 Natural Gas
    • 5.1.2 Oil
    • 5.1.3 Renewables
  • 5.2 Power Transmission and Distribution (T&D)

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Collaboration, and Joint Ventures
  • 6.2 Strategies Adopted by Key Players
  • 6.3 Company Profiles
    • 6.3.1 Mazoon Electricity Distribution Company
    • 6.3.2 ACWA Power
    • 6.3.3 Sohar Power Company SAOG
    • 6.3.4 Oman Power & Water Procurement Company (OPWP)
    • 6.3.5 United Power Company (SAOC)
    • 6.3.6 Dhofar Generation Company (DGC)
    • 6.3.7 Oman Electricity Transmission Company (SAOC)
    • 6.3.8 Muscat Electricity Distribution Company
    • 6.3.9 Majan Electricity Distribution Company (SAOC)
  • *List Not Exhaustive
  • 6.4 Market Ranking/Share (%) Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Oman Government's Vision 2040 Development Strategy
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Oman Power Industry Segmentation

Power is the process of generating electric power from primary energy sources. Electricity generation for utilities in the electricity industry is the process of delivering (transmission, distribution, etc.) electricity to end users or storing it.

The Omani power market is segmented by power generation by source and power transmission and distribution (T&D). The market is segmented by power generation by source into natural gas, oil, and renewables. The market size and forecasts for each segment have been based on installed capacity, except for Power Transmission and Distribution (T&D), for which only qualitative analysis will be provided.

Power Generation by Source Natural Gas
Oil
Renewables
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Oman Power Market Research Faqs

How big is the Oman Power Market?

The Oman Power Market size is expected to reach 16.36 gigawatt in 2025 and grow at a CAGR of 4.40% to reach 20.29 gigawatt by 2030.

What is the current Oman Power Market size?

In 2025, the Oman Power Market size is expected to reach 16.36 gigawatt.

Who are the key players in Oman Power Market?

Muscat Electricity Distribution Company, Mazoon Electricity Distribution Company-, Oman Electricity Transmission Company SAOC, Dhofar Power Company (DGC) and Majan Electricity Distribution Company (SAOC) are the major companies operating in the Oman Power Market.

What years does this Oman Power Market cover, and what was the market size in 2024?

In 2024, the Oman Power Market size was estimated at 15.64 gigawatt. The report covers the Oman Power Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Oman Power Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Oman Power Industry Report

The Oman Power Market Report provides a comprehensive industry analysis of the power generation and power transmission and distribution sectors. This report offers valuable industry information and insights into the market data, industry trends, and market forecast for the power market in Oman. The industry outlook highlights the growth rate and market growth, driven by the increasing demand for electricity and the shift towards renewable energy sources.

The market overview and market review sections delve into the market segmentation and market value, providing a detailed analysis of the market structure and key market leaders. The industry research and industry reports sections offer an in-depth look at the industry sales, industry size, and industry statistics, giving a clear picture of the current market scenario and future market predictions.

The report also includes a report example and report pdf for further reference. Research companies have contributed to this report, ensuring that it is a reliable source of industry information. The market outlook and market predictions sections provide insights into the future trends and potential growth opportunities in the Oman power market.

Overall, this report serves as a valuable resource for understanding the power market in Oman, offering detailed market data, industry trends, and market forecast, along with a comprehensive market review and market segmentation analysis.

Oman Power Market Report Snapshots