Oman Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027

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Published: June 12, 2023 Report Code: GDCN1148MR-ST

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Oman Construction Market Report Overview

The Oman construction market size was $17.8 billion in 2022. The market is projected to achieve an AAGR of more than 3% during 2024-2027, supported by investments on the construction of oil, electricity, transport, and housing infrastructure projects and implementation of investment plans to achieve the objectives in line with Oman Vison 2040.

Oman Construction Market Outlook, 2022-2027

Oman Construction Market Outlook, 2022-2027

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The Oman construction market research report provides detailed market analysis, information, and insights into the Oman construction industry, including the growth prospects of the industry by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Oman construction industry. The report also provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Market Size (2022) $17.8 billion
AAGR (2024-2027) >3%
Forecast Period 2023-2027
Historical Period 2018-2022
Key Sectors ·       Commercial Construction

·       Industrial Construction

·       Infrastructure Construction

·       Energy and Utilities Construction

·       Institutional Construction

·       Residential Construction
Leading Contractors ·       Larsen & Toubro Ltd

·       Galfar Engineering & Contracting

·       Parsons Corp

·       Sarooj Construction Company LLC

·       China National Petroleum Corp

·       Shapoorji Pallonji & Co Pvt Ltd

·       Al Tasnim Enterprises Llc

·       Alcatel Lucent Enterprise SA

·       Petrofac Ltd

·       Al Turki Enterprises LLC
Leading Consultants ·       SNC-Lavalin Group Inc

·       HMR Environmental Engineering Consultants

·       WorleyParsons Ltd

·       Det Norske Veritas Holding AS

·       JTC Corp

·       John Wood Group Plc

·       Engineers India Ltd

·       KBC Advanced Technologies Ltd

·       Arup Group Ltd

·       Rider Levett Bucknall Llp
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Oman Construction Market Segmentation by Sectors

The key sectors in the Oman construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.

Commercial construction: The commercial construction sector is expected to remain sluggish in 2023, but there will be a continued recovery in the country’s tourism sector. However, the sector’s output is expected to regain momentum from 2024, supported by government investments in leisure, hospitality, and retail projects as part of the national 2040 Tourism Strategy.

Industrial construction: The industrial construction sector is expected to grow this year, owing to development of new industrial cities. Over the remainder of the forecast period, the sector will grow at an annual average rate of more than 4% during 2024-27, aided by investments in mining and industrial city projects, as part of Oman’s economic diversification plan.

Infrastructure construction: The infrastructure construction sector is expected to grow in 2023 and record an annual average growth over the remainder of the forecast period (2024-27), aided by government investments in the expansion of the road network in line with the objectives of Oman Vision 2040.

Energy and utilities construction: The energy and utilities construction sector is expected to grow this year, owing to increase in oil prices and expansions in oil and gas production as demand rises. Over the remainder of the forecast period, the sector will grow at an annual average rate of more than 4% from 2024 to 2027, supported by investments in desalination plant and oil and gas projects.

Institutional construction: The institutional construction sector is expected to grow this year and register an annual average rate of more than 3% from 2024 to 2027, supported by government investments on the construction of 76 new schools.

Residential construction: Growth in the residential construction sector is expected to remain weak in 2023, but there will be an improvement from 2024, supported by the development of public and private residential projects.

Oman Construction Market Analysis by Sectors, 2022 (%)

Oman Construction Market Analysis by Sectors, 2022 (%)

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Oman Construction Market - Competitive Landscape

The leading contractors in the Oman construction market are Larsen & Toubro Ltd, Galfar Engineering & Contracting, Parsons Corp, Sarooj Construction Company LLC, China National Petroleum Corp, Shapoorji Pallonji & Co Pvt Ltd, Al Tasnim Enterprises Llc, Alcatel Lucent Enterprise SA, Petrofac Ltd, and Al Turki Enterprises LLC. Larsen & Toubro Ltd led the market in 2022.

Oman Construction Market by Contractors, 2022 (%)

Oman Construction Market by Contractors, 2022 (%)

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The leading consultants in the Oman construction market are SNC-Lavalin Group Inc, HMR Environmental Engineering Consultants, WorleyParsons Ltd, Det Norske Veritas Holding AS, JTC Corp, John Wood Group Plc, Engineers India Ltd, KBC Advanced Technologies Ltd, Arup Group Ltd, Rider Levett Bucknall Llp. SNC-Lavalin Group Inc led the market.

Oman Construction Market by Consultants, 2022 (%)

Oman Construction Market by Consultants, 2022 (%)

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Segments Covered in the Report

Oman Construction Sectors Outlook (Value, US$ Million, 2018-2027)

  • Commercial Construction
  • Industrial Construction
  • Infrastructure Construction
  • Energy and Utilities Construction
  • Institutional Construction
  • Residential Construction

Scope

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

  • Historical and forecast 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.

Table of Contents

  • About GlobalData

    • 1. Executive Summary

    • 2. Construction Industry: At-a-Glance

    • 3. Context

      • 3.1. Economic Performance

      • 3.2. Political Environment and Policy

      • 3.3. Demographics

      • 3.4. Risk Profile

    • 4. Construction Outlook

      • 4.1. All Construction

        • 4.1.1. Outlook

        • 4.1.2. Latest news and developments

        • 4.1.3. Construction Projects Momentum Index

      • 4.2. Commercial Construction

        • 4.2.1. Outlook

        • 4.2.2. Project analytics

        • 4.2.3. Latest news and developments

      • 4.3. Industrial Construction

        • 4.3.1. Outlook

        • 4.3.2. Project analytics

        • 4.3.3. Latest news and developments

      • 4.4. Infrastructure Construction

        • 4.4.1. Outlook

        • 4.4.2. Project analytics

        • 4.4.3. Latest news and developments

      • 4.5. Energy and Utilities Construction

        • 4.5.1. Outlook

        • 4.5.2. Project analytics

        • 4.5.3. Latest news and developments

      • 4.6. Institutional Construction

        • 4.6.1. Outlook

        • 4.6.2. Project analytics

        • 4.6.3. Latest news and developments

      • 4.7. Residential Construction

        • 4.7.1. Outlook

        • 4.7.2. Project analytics

        • 4.7.3. Latest news and developments

    • 5. Key Industry Participants

      • 5.1. Contractors

      • 5.2. Consultants

    • 6. Construction Market Data

    • 7. Appendix

      • 7.1. What is this Report About?

      • 7.2. Definitions

      • 7.3. CRI Methodology

      • 7.4. GlobalData Construction

    • 8. Contact Us

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