Oman Electric Vehicles Market Size Share Growth Drivers Trends Opportunities & Forecast 2025–2030

Oman Electric Vehicles Market Overview

• The Oman Electric Vehicles Market is valued at USD 0.65 billion, based on a five-year historical analysis. This growth is primarily driven by falling battery prices, strategic partnerships in manufacturing and energy, and expanding fleet electrification in logistics and public transit. These factors are reshaping market dynamics and are further supported by policy alignment with the nation’s net-zero vision and infrastructure mandates, facilitating deeper adoption across both urban and industrial segments.
• Key players in this market include regions like Muscat, which benefit from higher incomes, dense charging infrastructure, and an early adopter culture. Additionally, industrial zones such as Duqm and Sohar are gaining traction due to emerging assembly clusters and logistics demand. Leading companies in this landscape include Chinese OEMs like BYD and MG Motor, local innovators such as Mays Motors, and global brands including Tesla, Toyota, and Mercedes-Benz, all contributing through pricing strategies, financing initiatives, and technology adaptation.
• In 2024, a pivotal government initiative is the establishment of Electrical Vehicles One (EVO), a joint venture by Oman Oil Marketing Company and Synergy Investment. This initiative is deploying 78 EV chargers initially and plans to expand to over 200 at fuel stations, hotels, and malls to support green mobility infrastructure.

Oman Electric Vehicles Market Segmentation

By Vehicle Type:The vehicle type segmentation includes passenger vehicles, two-wheelers, and commercial vehicles. Among these, passenger vehicles dominate the market due to increasing consumer preference for personal electric mobility solutions, driven by rising environmental awareness and government incentives. The growing availability of models and improved charging infrastructure further support this trend, making passenger vehicles the leading segment in the Oman Electric Vehicles Market.

By Propulsion Type:The propulsion type segmentation consists of battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). Battery electric vehicles are leading this segment, primarily due to advancements in battery technology, which have enhanced their range and performance. The increasing availability of charging infrastructure and government incentives for fully electric vehicles further solidify BEVs as the dominant propulsion type in the market.

Oman Electric Vehicles Market Competitive Landscape

The Oman Electric Vehicles Market is characterized by a dynamic mix of regional and international players. Leading participants such as Mays Motors (Oman), Oman Oil Marketing Company, Renault Group, Tesla, BMW Group, Hyundai Motor Company, Nissan Motor Corporation, Kia Corporation, Toyota Motor Corporation, General Motors (Chevrolet), BYD Auto, MG Motor, Audi AG, Porsche Middle East & Africa, and Volvo Car Corporation contribute to innovation, geographic expansion, and service delivery in this space.

Oman Electric Vehicles Market Industry Analysis

Growth Drivers

• Surge in Electric Vehicle Numbers:The number of electric vehicles (EVs) registered in Oman surged from 550 in the past year to 1,500 in the following year, marking a remarkable increase of 950 units. This 300% growth reflects a significant shift in consumer interest and government initiatives aimed at promoting EV adoption. The rising number of EVs indicates a growing acceptance of electric mobility among the population, supported by favorable policies and incentives.
• Expansion of EV Charging Infrastructure:In the past year, Oman installed over 120 EV charging points, with projections indicating this number will exceed 200 by the end of the following year. The government aims to establish more than 350 charging stations by the end of the decade. This expansion addresses range anxiety among potential EV users, facilitating broader adoption and enhancing the overall EV ecosystem in the country, thus encouraging more consumers to transition to electric vehicles.
• Government Launch of National Green Mobility Company (NGMC):The Omani government has allocated 29 million Omani Rials (approximately US$75 million) for the establishment of the National Green Mobility Company (NGMC) in the coming years. This initiative aims to create a comprehensive EV ecosystem, including vehicle production, charging infrastructure, and digital platforms. The NGMC is pivotal in driving the country’s green mobility vision, fostering public-private partnerships to accelerate EV adoption.

Market Challenges

• High Initial Adoption Base and Charging Infrastructure Still Emerging:Despite the increase in EV registrations to 1,500 in the following year, the overall market remains in its infancy. The limited number of charging stations, with only 120 available in the past year, poses a significant barrier to widespread adoption. This early-stage market is characterized by low consumer familiarity with EVs and insufficient infrastructure, which can hinder growth and consumer confidence in electric mobility.
• Dependence on Hydrocarbon Revenues Amid Economic Fluctuations:Oman’s economy is heavily reliant on hydrocarbon revenues, with a nominal GDP of US$109.99 billion in the following year. The real GDP growth rate was only 1.9% in the first half of the following year, reflecting economic challenges tied to oil production cuts. This dependence on oil can limit the government’s ability to invest in EV infrastructure and incentives, potentially slowing the transition to electric mobility.

Oman Electric Vehicles Market Future Outlook

The future of the Oman electric vehicles market appears promising, driven by government initiatives and increasing consumer awareness. The National Green Mobility Company (NGMC) plans to distribute 500 EVs in the coming years and establish a National Research and Innovation Centre by the end of the decade. Additionally, Oman aims to sell only zero-emission vehicles in the future, aligning with global sustainability goals. These strategic moves indicate a robust commitment to developing a comprehensive EV ecosystem, fostering innovation, and enhancing infrastructure to support electric mobility.

Market Opportunities

• Rapid Scale-Up via NGMC and Charging Infrastructure:The NGMC's goal to deploy 10,000 EVs and establish 200 fast-charging stations by the end of the decade presents a significant opportunity for market growth. This initiative will enhance infrastructure and vehicle availability, facilitating broader access to electric mobility and stimulating consumer interest in EVs.
• Decarbonization Targets and Export Potential:Oman’s strategy aims for 22,000 EVs on the road by the end of the decade, positioning the country as a regional hub for green mobility. This focus on decarbonization and hydrogen export ambitions can open new markets for EV technology and services, enhancing Oman’s role in the global transition to sustainable transportation.