Market Size of Oman Transportation Infrastructure Construction Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 2.38 Billion |
Market Size (2029) | USD 3.12 Billion |
CAGR (2024 - 2029) | 5.65 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Oman Transportation Infrastructure Construction Market Analysis
The Oman Transportation Infrastructure Construction Market size is estimated at USD 2.38 billion in 2024, and is expected to reach USD 3.12 billion by 2029, growing at a CAGR of greater than 5.65% during the forecast period (2024-2029).
COVID-19 severely impacted the overall construction sector in Oman and transportation infrastructure construction does not have exception for it. Construction activity was slowed down due to difficulty in the supply chain and social distancing factors. As Oman is Oil oil-based economy, a fall in oil prices during the Covid period slowed down the economic activity in Oman. This economic slowdown impacted negative growth in the Oman Transportation Infrastructure Construction Market in the short term. The speedy recovery has been seen in infrastructure construction since 2021.
Rapid urbanization, the growing need for large transportation infrastructure capacity for oil transport, and aging existing infrastructure are some of the key driving factors for revenue growth of the Oman Transportation Infrastructure Construction Market
Oman Transportation Infrastructure Construction Industry Segmentation
Transportation infrastructure refers to framework that supports transportation system. The transportation infrastructure construction market is segmented by mode of transport (air, ports and inland waterways, railways, roadways). The report offers market size and forecast for transportation infrastructure construction market in value (USD) for all above segment.
By Mode of Transport | |
Air | |
Railways | |
Roadways | |
Ports and Inland Waterways |
Oman Transportation Infrastructure Construction Market Size Summary
The Oman Transportation Infrastructure Construction Market is poised for significant growth over the forecast period, driven by rapid urbanization and the increasing demand for enhanced transportation infrastructure. The market, which experienced a temporary setback due to the COVID-19 pandemic and its impact on the oil-based economy, has shown a robust recovery since 2021. Key factors propelling the market include the need to upgrade aging infrastructure and expand capacity to support the growing urban population, which has reached a substantial proportion of the total population. The government's strategic investments in transportation infrastructure are creating lucrative opportunities, aligning with the broader economic diversification goals outlined in the Ninth Five Year Plan. This plan emphasizes the development of sectors such as logistics, manufacturing, tourism, fisheries, and mining, aiming to reduce the economy's reliance on oil revenues.
Oman's economic diversification efforts are further supported by initiatives like the Tanfeedh Economic Diversification Plan and the development of the Special Economic Zone Authority in Duqm, which aims to position Duqm as a major industrial and business hub. The transportation infrastructure sector is characterized by a competitive landscape with both national and international players, including Galfar Engineering and Contracting SAOG, Desert Line Group, STRABAG SE, Bechtel, and Khalid Bin Ahmed & Sons LLC. Recent developments, such as the expansion of existing roads and the establishment of a joint railway company with the UAE, highlight the ongoing commitment to enhancing transportation connectivity. These initiatives are expected to drive market competition and offer promising growth opportunities in the coming years.
Oman Transportation Infrastructure Construction Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Technological Trends in the Market
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1.3 Government Regulations and Initiatives
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1.4 Market Drivers
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1.4.1 Growing urban population driving the growth of transportation infrastructure.
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1.4.2 Sultanate's Economic Diversification Plan (Vision 2040) to provide new growth to the market
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1.5 Market Restraints
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1.5.1 Delay in project approvals
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1.5.2 High cost of materials
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1.6 Market Opportunities
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1.6.1 Expansion projets of railway networks
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1.6.2 Developments of new ports
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1.7 Value Chain / Supply Chain Analysis
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1.8 Industry Attractiveness - Porters Five Force Analysis
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1.8.1 Threat of New Entrants
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1.8.2 Bargaining Power of Buyers/Consumers
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1.8.3 Bargaining Power of Suppliers
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1.8.4 Threat of Substitute Products
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1.8.5 Intensity of Competitive Rivalry
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1.9 Impact of COVID - 19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Mode of Transport
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2.1.1 Air
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2.1.2 Railways
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2.1.3 Roadways
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2.1.4 Ports and Inland Waterways
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Oman Transportation Infrastructure Construction Market Size FAQs
How big is the Oman Transportation Infrastructure Construction Market?
The Oman Transportation Infrastructure Construction Market size is expected to reach USD 2.38 billion in 2024 and grow at a CAGR of greater than 5.65% to reach USD 3.12 billion by 2029.
What is the current Oman Transportation Infrastructure Construction Market size?
In 2024, the Oman Transportation Infrastructure Construction Market size is expected to reach USD 2.38 billion.