In a large pot, bring water to a boil. Add the ramen noodles and cook according to package instructions, usually about 3 minutes. Drain and rinse under cold water to stop the cooking process. Set aside.
In a large mixing bowl, combine the shredded carrots, red cabbage, green onions, snap peas, roasted peanuts, and cilantro.
In a separate bowl, whisk together the vegetable oil, rice vinegar, soy sauce, sesame oil, sugar, garlic powder, ground ginger, salt, and pepper until well combined.
Add the cooled ramen noodles to the vegetable mixture and pour the dressing over the top. Toss everything together until evenly coated.
For best flavor, let the salad chill in the refrigerator for at least 30 minutes before serving.