Oman Construction Industry Poised for Steady Growth in 2024 with a Positive Outlook Through 2028 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Oman Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units), Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
The construction industry in Oman is projected to ascend to new heights with a forecasted growth of 3.4%, reaching OMR 3,947 million in 2024. This positive trajectory is set to continue over the medium to long term, with a steady compound annual growth rate (CAGR) of 6.8% anticipated from 2024 to 2028. By 2028, the construction output in Oman is expected to attain a value of OMR 4,404.6 million, reflecting the ongoing commitment and investments towards the sultanate’s infrastructural and architectural development.
End Market Opportunities and Growth Dynamics
The construction market intelligence underscores the multifaceted growth opportunities existing within Oman’s building and infrastructure sectors. It incorporates an extensive range of KPIs, elucidating growth dynamics, sectoral analyses, and the cost structure inherent to the industry. The databook provides a granular analysis that encompasses the value and volume of the construction market, including detailed assessments of residential, commercial, institutional, industrial, and infrastructure projects across Oman.
Residential and Commercial Development Outlook
Offering a comprehensive outlook, the report covers the residential sector’s growth, segmented by construction type, development stages, and key cities. Similarly, the commercial sector’s development is analyzed, delineating forecasted value and volume across a spectrum of establishments including office spaces, retail areas, hospitality buildings, and more, signifying healthy diversification and expansion across Oman’s urban landscapes.
Institutional and Industrial Project Insights
The report also offers a forecast within the scope of institutional and industrial construction projects. Industrial development encompasses manufacturing plants and facilities, whereas institutional construction spans healthcare and education facilities, among others. Such developmental strategies exhibit Oman’s dedication to enhancing its industrial capabilities and social infrastructure.
Infrastructure Development Trajectory
The compilation of market data highlights Oman’s infrastructure segment, which is segmented further into marine, inland water, utility systems, and a variety of transportation infrastructure projects. Planned development stages include new constructions as well as re-developments and maintenance efforts that will bolster the nation’s connectivity and utility networks.
Cost Structure and Economic Indicators
An in-depth analysis of the construction cost structure is provided, covering material, labor, equipment, and other expenditures. This aids in understanding the financial dynamics crucial to stakeholders and policymakers involved in the construction industry. Additionally, economic indicators and city-level analyses contribute to a comprehensive understanding of the regional construction landscape and potential investment zones within Oman.
The findings presented in this intelligence report are indicative of an optimistic growth pattern for Oman’s construction industry, guided by well-structured investments and strategic development programs. The construction industry’s continuous expansion signals a robust economic environment and underscores Oman’s growing reputation as a key market for infrastructure development in the region.
For more information about this report visit https://www.researchandmarkets.com/r/nmx1b9
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