Oman Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Oman Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Oman Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Summary

GlobalData’s Construction in Oman - Key Trends and Opportunities to 2028 (H1 2024) report provides detailed market analysis, information, and insights into the Omani construction industry, including -

• The Omani construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Omani construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

GlobalData expects the construction industry in Oman to expand by 2.1% in real terms in 2024, supported by rising foreign direct investment (FDI) in rail and road infrastructure, renewable energy, and housing projects. According to the National Center for Statistical Information (NCSI), the total FDI in the country rose by 25.2% in 2023, with the FDI in the oil and gas sector rising by 38.1% during the same period. Growth in 2024 will be mainly supported by construction of several rail and airport infrastructure projects. Some of the major railway projects scheduled to commence in 2024 are OMR2.3 billion ($6.1 billion) Sohar Port to Al Wathba Rail Network project, and the OMR1 billion ($2.6 billion) Muscat Metro project. In January 2024, Oman’s Civil Aviation Authority announced tenders for several airport construction projects which include development of Jabal Akhdar, Masirah, and Sohar airports.

The Omani construction industry is expected to register an annual average growth of 4.2% from 2025 to 2028, supported by investments as part of the Oman Vision 2040 Plan, under which, the government plans to allocate OMR20 billion ($52 billion) to tourism sector and aims to attract 11 million visitors annually by 2040. Oman plans to achieve net zero emissions by 2050, and as part of its efforts, the country plans to produce 30% of its electricity from renewables by 2030 and 11% of Oman’s electricity production from solar and wind by 2025.

Scope

This report provides a comprehensive analysis of the construction industry in Oman. It provides -

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Oman, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
• Assess market growth potential at a micro-level with over 600 time-series data forecasts.
• Understand the latest industry and market trends.
• Formulate and validate strategy using GlobalData's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.