Oman Electric Vehicle Market Share, Size & Competitive Landscape Report 2030
Oman Electric Vehicle Market Size & Insights
The Oman Electric Vehicle Market size was valued at around USD 200 million in 2024 and is projected to reach USD 831.28 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 26.80% during the forecast period, i.e., 2025-30. This high growth is likely to be driven by government mandates on emissions, policy support for rapid adoption, and an expanding charging infrastructure.
What are the Key Driver in the Oman Electric Vehicle Market??
Government Mandates and Policy Support Driving Market Demand – The EV industry in Oman is primarily being driven by the government’s targets as well as policy support for faster adoption of EVs. The government is shaping market demand through a phased transition to EVs by 2050 that includes a 15% target for 2030. This is encouraging industry players to invest in EVs and supporting infrastructure to hasten EV adoption across the country. This is highlighted in the government’s 2024 mandate that made it necessary for fuel stations to install EV chargers. It has also facilitated the formation of Electric Vehicles One (EVO), a JV between the Oman Oil Marketing Company (OOMCO) and New Zealand-based Synergy Investments that is working on the development of charging infrastructure in the country.
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What are the Key Segments in the Oman Electric Vehicle Market?
The Oman Electric Vehicle is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Vehicle Type
- Passenger Vehicles
- Two-wheelers
- Commercial Vehicles
Passenger vehicles form the dominant segment based on vehicle type, with an estimated market share of around 70-75%.
By Power Source
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
By Battery Type
- Lithium-ion Battery
- Lithium Titanate Oxide
Lithium-ion batteries form the dominant segment based on battery type, with an estimated market share of around 90-95%.
How does geographical analysis highlight in the Oman Electric Vehicle market?
By Region
- North
- South
- Central.
Who are the Key Players in Oman Electric Vehicle Market?
- Mays Motors
- Renault Group
- Tesla
- Chevrolet
- BMW AG
- Hyundai Motor Company
- Nissan Motor Corporation
- Ford Motor Company
- Porsche Middle East & Africa
- Toyota Motor Corporation
- Ashok Leyland
- Volvo Bus Company
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Oman Electric Vehicle Market News
- February 2025: Mays launched the Alive SUV, Oman’s first EV from a homegrown brand, signaling a pivotal shift towards local EV manufacturing.
Key pillars of the research methodology include:
- Scope & Research Design – Clearly defined objectives with tailored qualitative and quantitative methods, backed by precise timelines and budgets.
- Sample Selection & Data Collection – Representative samples achieved through proven techniques like random and stratified sampling, supported by reliable tools such as surveys, interviews, and observations.
- Data Analysis & Validation – Rigorous cleaning, advanced statistical modeling, and thematic analysis ensure accuracy, reliability, and minimal bias.
- Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.
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Why This MarkNtel Advisors Research Report:
- In-depth Market Analysis: Understand trends and dynamics shaping growth.
- Segmented Insights: Target specific segments for focused strategies.
- Geographical Performance: Assess market opportunities by geographic area.
- Emerging Technologies: Discover advancements like AI integration.
- Risk Identification: Pinpoint challenges to inform strategic planning.
- Future Forecasts: Prepare for market changes with actionable projections.
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