DUBLIN, July 1, 2022 /PRNewswire/ — The report “Oman Construction Equipment Market – Strategic Assessment & Forecast 2022-2028” has been added to from ResearchAndMarkets.com offer.
The report examines the current scenario of Oman equipment market and market dynamics for 2022-2028. It covers a detailed overview of several growth catalysts, restraints, and market trends. The study includes sales volume and value with segment analysis of the market.
Oman the size of the construction equipment market is expected to reach $157 million by 2028, growing at a CAGR of 4.60%.
- In 2020, the demand for new construction equipment in Oman decreased by 7.2% due to the negative impact of the construction industry (down around 16% in 2020 compared to 2019), as major infrastructure projects were halted due to the pandemic of COVID-19.
- The construction industry is expected to generate the highest demand in terms of end users, due to “from Oman Tenth Five-Year Development Plan (2021-2025)” and “from Oman “Vision 2040” programs, which are expected to continue to dominate the construction equipment market during the forecast period. In addition, government initiatives to diversify the economy and policies conducive to foreign investment have led to industrial developments in the construction sector, which has increased the demand for construction equipment.
- Below “from Oman “Vision 2040”, the government is focusing on diversifying the economy, which currently depends on the oil and gas sector. In 2021, the government announced 130 projects mainly enabling manufacturing, tourism, logistics, labor market, business environment, fisheries, energy, and mining. These projects are under the from Oman Vision 2040, which includes a well-developed manufacturing base with advanced technology, boosting tourism with attractive locations, improving logistics by increasing the number of ports, etc. Seven new tourism projects are to be launched in 2022 with allocated funding of ~$501 millioncompared to ~$137.7 million in 2021, an increase of ~260%.
- By 2040, ~911,940 dwellings would be needed to house the population. Therefore, the government started investing in housing infrastructure. In 2021, the government distributed 23,066 plots of land in different governorates of the Sultanate. Roads and other public infrastructure such as schools, shopping malls, etc. will also be developed around housing. This will not only support the demand for material handling equipment in Oman but will also increase the demand for construction equipment in general.
- As part of the “Hydrogen-centric economy by 2040” program, the shift to hydrogen-based construction equipment is triggering demand for green hydrogen-based construction equipment in Oman. Environmental protection is one of the main objectives of from Oman tenth five-year plan (from 2021 to 2025). Green hydrogen-based construction equipment is as efficient as gasoline-based construction equipment. It will also promote the use of green hydrogen construction equipment (such as Caterpillar’s 100% green hydrogen construction equipment) in Oman over the forecast period.
Main topics covered:
Chapter 1 Overview
- Market overview
Section 2 Market Overview
- Economic scenario, foreign direct investment
Section 3 Market Landscape
- Oman Construction Equipment Market by Type (Volume & Value)
- earthmoving equipment
- Backhoe loader
- motor grader
- Other earthmoving equipment (other loaders, bulldozer, trencher, etc.)
- Handling equipment
- Forklift and telehandler
- Aerial platform (articulated platforms, telescopic platforms, scissor lifts, etc.)
- road construction equipment
- road roller
- asphalt paver
- Oman Construction Equipment Market by End User (Volume & Value)
- Others (power generation, municipal utilities, oil and gas, cargo handling, power plants, waste management, etc.)
Section 4 Market Dynamics
- Market Drivers, Restraints, Trends, Oman Advantage, Key Economic Regions, Import/Export Trends, Supply Chain Analysis, Impact of Covid-19
Section 5 Technological Development
Section 6 Competitive Landscape
- Overview of the competitive landscape
- Main suppliers (Xcmg Group – Komatsu Group – Caterpillar – Sany Group – Volvo Construction Equipment – Hitachi Construction Machinery – Hyundai Construction Equipment – Hyundai Doosan Infracore – Cnh Industrial – Jcb – Liebherr Group – Zoomlion – Kobelco – Kubota Corporation – Manitou)
- Other Important Suppliers
- Distributor Profiles
Section 7 Quantitative Summary
Article 8 Summary of the report
- key ideas
- List of graphics
- List of paintings
Section 9 Scope and definition of the report
- Volvo EC
- Hyundai construction equipment
- CNH Industrial
- zoom lion
- House of Equipment LLC (HOE)
- General Engineering Services LLC
- IIE Oman
- IHE Oman
- Saud Bahwan Group
- AL Fairouz
For more information about this report visit https://www.researchandmarkets.com/r/ell1d2
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