Oman Facility Management Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.70 Billion |
| Market Size (2029) | USD 1.05 Billion |
| CAGR (2024 - 2029) | 8.45 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oman Facility Management Market Analysis
The Oman Facility Management Market size is estimated at USD 0.7 billion in 2024, and is expected to reach USD 1.05 billion by 2029, growing at a CAGR of 8.45% during the forecast period (2024-2029).
Facility management comprises a wide range of solutions and services influencing enterprises' efficiency and productivity. The Oman facility management market is primarily driven by the growth in the construction sector, increasing demand from the commercial sector coupled with government initiatives, and expansion of the hospitality sector.
- Adopting integrated facilities management (IFM) across Oman FM vendors has created ample opportunities for the market. With immense pressure on businesses to operate as efficiently as possible and care for their cash flows, offering integrated facilities management has led the end-users to incur lesser costs for regular tasks. Therefore, driving the demand for hard and soft facility management services in the country's businesses.
- Oman has drafted its Vision 2040 to boost future developments in the country. The knowledge-based population and societies will empower the future vision of the country. With the help of industrial growth, the country aims to join the developed countries worldwide. With the help of building smart and sustainable cities and technologically-advanced infrastructure facilities, the country aims to be a pioneer in the Middle East region. Such instances are expected to create significant growth opportunities for facility management market vendors in the country over the forecast period.
- The facility management market is in an emerging stage in the Oman ecosystem. The significant demand from the commercial sector players has grown considerably in the past few years. The growth in shopping malls, new manufacturing facilities, and significant expansion of offices by IT companies are expected to drive the market at a rapid pace over the forecast period.
- However, the country's FM market consists of several smaller and local vendors, which poses a significant challenge in terms of pricing pressure, lower margins, barriers to entry in the market, etc. The players must standardize the offerings for diverse market needs in a fragmented market. Local players with fewer international relationships led to fewer adoption of technologically-advanced solutions, which will be a major challenge with a long-term effect.
- In the first phase of the COVID-19 pandemic, the Oman facility management market witnessed a significant decline in growth (implementation of lockdowns, work-from-home scenarios, etc.). The lockdown effect additionally led to a labor shortage across the facilities and the facilities management companies, owing to the majority of the workforce being hired from foreign countries. Hard facilities management services like heating, ventilation, and air conditioning have also recorded significant growth during the country's pandemic.
Oman Facility Management Market Trends
Outsourced FM is expected to Hold Significant Market Share
- Outsourced FM is expected to witness significant traction in the Oman Facility Management market over the forecast period. In the sheer volume of contracts, single, bundled, and the number of integrated FM services are increasingly being demanded in Oman. The same benefits are reduced costs, time service delivery, contractual service, no equipment maintenance, etc.
- Further, single FM services are expected to gain a significant share in the outsourced segment. Businesses choose a single service provider because they can be assured of superior service quality and efficiency. Using several service providers is a time-consuming activity that necessitates the management of multiple vendors and the associated hazards. This helps create significant opportunities for the market vendors to expand single FM services in the country.
- Additionally, single FM service providers with in-depth industry knowledge regularly update their service by integrating the latest trends and technological developments in their specific industries, which is an advantage in adopting this FM service approach, which would fuel the market growth.
- The rising GDP also drives the demand for Outsourced FM services in the country. For instance, according to the data from the IMF, the Gross Domestic Product (GDP) in current prices in Oman is expected to reach USD 95.51 billion in 2026 compared to USD 63.37 billion in 2020.
- Moreover, the growth in shopping malls and supermarkets nationwide further boosted the demand for outsourced facility management services. For instance, the opening of the Mall of Oman in 2021, with 145,000 sqm of retail space, various dining outlets, and a range of exciting lifestyle experiences, further led to the market's growth. Further, in February 2023, Majid Al Futtaim inaugurated the Mall of Oman.
Commercial Segment is Expected to Dominate the Market
- The FM services in the commercial sector include facility management services in the buildings of convenience stores, multichannel retailers, IT and telecommunication offices, corporate offices of finance and insurance companies, etc. Oman has developed an excellent infrastructure to meet the international and external requirements for economic development.
- As the country's commercial industry gathers the benefits of its long-term approach to innovation, this has defined the sectoral growth over the forecasted period. The country's healthcare system has reported significant achievements in healthcare services and preventive and curative medicine in the last four decades.
- Moreover, the country is witnessing significant attraction in the commercial segment, with the country emphasizing building ICT infrastructure to reduce the digital divide through its National Broadband Strategy, which focuses on providing broadband service to more than 90% of urban areas by 2030, with overall penetration in the country reaching 75%. Further, the growing investments in the construction of vital ICT infrastructure and the improvement of various e-government services are expected to drive the IT and telecommunication companies in the region to establish their offices, thus positively impacting the market's growth.
- The country has observed significant construction projects in the past few years. According to World Bank, it is estimated that 7,857 businesses will be registered in the country by the end of 2024. With a forward outlook toward foreign investments and commercial service players' growth, the country has observed many construction projects in the past few years.
Oman Facility Management Industry Overview
The Oman FM market is fragmented, with local and international players possessing significant years of industry experience, and the intensity of the competitive rivalry is high. The companies keep innovating and enter into strategic partnerships to retain their market share.
In January 2023, Renaissance, Oman's accommodation, services solutions, and integrated facility management company, announced its collaboration with SOURCE Global, PBC to generate sustainably sourced drinking water for Renaissance Village Duqm (RSVD) in Oman's Special Economic Zone at Duqm (SEZAD), with plans to expand to additional sites.
Oman Facility Management Market Leaders
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Qurum Business Group
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Bahwan Engineering Group
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Al Naba Services LLC
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G4S Limited
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Oman International Group
*Disclaimer: Major Players sorted in no particular order
Oman Facility Management Market News
- August 2023 - Petroleum Development Oman (PDO), the national oil company for the sultanate, awarded two significant off-plot delivery contracts (ODCs) to Omani construction majors - Al Tasnim Enterprises and Galfar Engineering & Contracting. As per the deal, Al Tasnim company will oversee the South ODC, encompassing Amal, Marmul, Nimr, and Greater Berba, while Galfar will be responsible for the Saih Rawl and Qarn Alam areas.
- August 2023 - Sohar Port and the Freezone signed three agreements with several companies operating in the sea transport field to provide maritime services for ships that anchor at the port. The agreements were signed with Gulf Global Land and Sea Services, Al Risiah Shipping and Trading Services, and National Marine Services. According to the agreements, the three companies will offer ship cleaning services, underwater surveys, and underwater repair, among other services.
Oman Facility Management Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
-
4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Consumers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitute Products
- 4.3 Assessment of COVID-19 Impact on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Growing Demand from the Commercial and Institutional Segments Albeit from a Lower Base
- 5.1.2 Hospitality Sector Expansion is Expected to Contribute to the Growth
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5.2 Market Restraints
- 5.2.1 Fragmented Market with Several Local Vendors
6. MARKET SEGMENTATION
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6.1 By Type
- 6.1.1 Inhouse Facility Management
- 6.1.2 Outsourced Facility Management
- 6.1.2.1 Single FM
- 6.1.2.2 Bundled FM
- 6.1.2.3 Integrated FM
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6.2 By Offering Type
- 6.2.1 Hard FM
- 6.2.2 Soft FM
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6.3 By End User
- 6.3.1 Commercial
- 6.3.2 Institutional
- 6.3.3 Public/Infrastructure
- 6.3.4 Industrial
- 6.3.5 Others
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 G4S Limited
- 7.1.2 Qurum Business Group
- 7.1.3 Oman International Group SAOC
- 7.1.4 Renaissance Services SAOG
- 7.1.5 Daud Engie Group
- 7.1.6 Bahwan Engineering Group
- 7.1.7 Al Naba Services LLC
- 7.1.8 COMO Oman
- 7.1.9 General Electric & Trading Co. LLC (Genetco)
- 7.1.10 Stalwart Facilities Management LLC
- 7.1.11 Perfect Reflection Facilities Management Services
- 7.1.12 Wave Homes LLC
- 7.1.13 AL Hudu Real Estate LLC
- 7.1.14 Creative Associate Facility Management
- 7.1.15 AA Group of Catering Companies
- 7.1.16 Oman Shapoorji Company
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
** Subject To AvailablityOman Facility Management Industry Segmentation
Facility management confines multiple disciplines to ensure functionality, comfort, safety, and efficiency of any building by integrating people, place, process, and technology. While hard services include physical and structural services such as fire alarm system lifts, soft services include cleaning, landscaping, security, and similar human-sourced services, providing a solution to end-users such as commercial buildings, retail, government, and public entities.
The Oman facility management market is segmented by type (in-house FM service, outsourced FM service (single FM, bundled FM, and integrated FM)), offering Type ( hard FM and soft FM), and end-user (commercial, institutional, public/infrastructure, and industrial).
The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | Inhouse Facility Management | |
| Outsourced Facility Management | Single FM | |
| Bundled FM | ||
| Integrated FM | ||
| By Offering Type | Hard FM | |
| Soft FM | ||
| By End User | Commercial | |
| Institutional | ||
| Public/Infrastructure | ||
| Industrial | ||
| Others |
Oman Facility Management Market Research FAQs
How big is the Oman Facility Management Market?
The Oman Facility Management Market size is expected to reach USD 0.70 billion in 2024 and grow at a CAGR of 8.45% to reach USD 1.05 billion by 2029.
What is the current Oman Facility Management Market size?
In 2024, the Oman Facility Management Market size is expected to reach USD 0.70 billion.
Who are the key players in Oman Facility Management Market?
Qurum Business Group , Bahwan Engineering Group , Al Naba Services LLC , G4S Limited and Oman International Group are the major companies operating in the Oman Facility Management Market.
What years does this Oman Facility Management Market cover, and what was the market size in 2023?
In 2023, the Oman Facility Management Market size was estimated at USD 648 million. The report covers the Oman Facility Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oman Facility Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oman Facility Management Industry Report
Statistics for the 2024 Oman Facility Management market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oman Facility Management analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
