Market Size of Oman Power Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 11.69 gigawatt |
| Market Volume (2029) | 15.83 gigawatt |
| CAGR (2024 - 2029) | 6.26 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oman Power Market Analysis
The Oman Power Market size is estimated at 11.69 gigawatt in 2024, and is expected to reach 15.83 gigawatt by 2029, growing at a CAGR of 6.26% during the forecast period (2024-2029).
- 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 is expected to bolster the power demand to the greatest extent, creating an opportunity for the market during the forecast period.
