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Report
Oman Construction Equipment Market - Strategic Assessment & Forecast 2022-2028
Market Report I 2022-05-17 I 110 Pages I Arizton Advisory & Intelligence
The report considers the present scenario of the Oman equipment market and market dynamics for 2022?2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the market.
Oman construction equipment market size is projected to reach USD 157 million by 2028, growing at a CAGR of 4.60%.
KEY POINTS
In 2020, demand for new construction equipment in Oman declined by 7.2% due to the adversely impacted construction industry (declined by ~16% in 2020 when compared to 2019) as major infrastructure projects were halted because of COVID-19 pandemic.
The construction industry is expected to generate the highest demand in terms of end-users, owing to "Oman's Tenth-Five Year Development Plan (2021-2025)" and "Oman's Vision 2040" programs, which are expected to continue to dominate the construction equipment market over the forecast period. Additionally, government initiatives to diversify the economy and favorable policies for foreign investments have resulted in industrial developments in the construction industry, which has increased demand for construction equipment.
Under Omans Vision 2040 program, the government is focusing to diversify the economy, which is currently dependent on oil & gas sector. In 2021, the government announced 130 projects mainly enabling manufacturing, tourism, logistics, labor market, business environment, fisheries, energy, and mining sectors. These projects are under the Omans Vision 2040, which include well developed manufacturing base with advanced technology, boosting tourism with attractive sites, improving logistics by increasing the number of ports, etc. Seven new tourism projects are to be started in 2022 with allocated funding of ~$501 million, compared to ~$137.7 million in 2021, an increase of ~260%.
By 2040, ~911,940 housing units would be needed to accommodate the population. Hence, the government has started to invest in the housing infrastructure. In 2021, the government distributed 23,066 plots of land in various governorates of the Sultanate. Roads and other public infrastructure such as schools, shopping malls, etc. will also be developed around the housing units. This will not only support the demand for material handling equipment in Oman but will also increase the demand for overall construction equipment.
Under Hydrogen-Centric Economy by 2040 program, shift towards hydrogen fuel-based construction equipment triggers the demand for green hydrogen fuel-based construction equipment in Oman. Protecting the environment is one of the key goals of Oman's tenth five-year plan (from 2021 to 2025). The green hydrogen fuel-based construction equipment are as efficient as gasoline fuel-based construction equipment. This will also promote the use of green hydrogen fuel-based construction equipment (such as Caterpillars 100% green hydrogen fuel-based construction equipment) in Oman over the forecast period.
SEGMENT ANALYSIS
In 2021, the earthmoving equipment segment was the largest in the Oman construction industry, followed by material handling and road construction equipment. Excavator was the largest segment by type. The demand for excavators is expected to rise due to various government investments in infrastructure development and growth in renewable energy.
Segmentation by Earthmoving Equipment:
Excavator
Backhoe Loaders
Motor Graders
Other Earthmoving Equipment
Segmentation by Road Construction Equipment
Road Rollers
Asphalt Pavers
Segmentation by Material Handling Equipment
Crane
Forklift & Telescopic Handlers
Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Segmentation by End Users
Construction
Manufacturing
Mining
Others
VENDOR LANDSCAPE
XCMG, Komatsu, Caterpillar, Liebherr, Volvo Construction equipment & Hitachi construction machinery are market leaders who account for 59% of the Oman construction equipment market share.
Key Vendors
XCMG
Komatsu
Caterpillar
Sany
Volvo CE
Hitachi
Hyundai Construction Equipment
CNH Industrial
JCB
Other Prominent Vendors
Liebherr
Zoomlion
Kobelco
Kubota
Manitou
Distributors Profiles
House of Equipment LLC (HOE)
General Engineering Services LLC
IIE Oman
IHE Oman
Saud Bahwan Group
AL Fairuz
Section 1 Introduction
1.1 Market Snapshot
1.2 Executive Summary
Section 2 Market Overview
Economic Scenario, Foreign Direct Investment
Section 3 Market Landscape
3.1 Oman Construction Equipment Market by Type (Volume & Value)
3.1.1 Earthmoving Equipment
3.1.1.1 Excavator
3.1.1.2 Backhoe Loader
3.1.1.3 Motor Grader
3.1.1.4 Other Earthmoving Equipment (Other Loaders, Bulldozer, Trencher, etc.)
3.1.2 Material Handling Equipment
3.1.2.1 Forklift and Telescopic Handler
3.1.2.2 Crane
3.1.2.3 Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)
3.1.3 Road Construction Equipment
3.1.3.1 Road Roller
3.1.3.2 Asphalt Paver
3.2 Oman Construction Equipment Market by End User (Volume & Value)
3.2.1 Construction
3.2.2 Manufacturing
3.2.3 Mining
3.2.4 Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management, etc.)
Section 4 Market Dynamics
Market Drivers, Restraints, Trends, Advantage Oman, Key Economic Regions, Import/Export Trends, Supply Chain Analysis, COVID-19 Impact
Section 5 Technological Development
Advent of New Technology
Section 6 Competitive Landscape
Competitive Landscape Overview
Major Vendors (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 Prominent Vendors
Distributor Profiles
Section 7 Quantitative Summary
Quantitative Summary
Section 8 Report Summary
Key Insights
Abbreviations
List of Graphs
List of Tables
Section 9 Report Scope & Definition
Research Methodology
Research Objective
Market Definition, Inclusion & Exclusion
LIST OF EXHIBITS
Graph-1 Oman Construction Equipment Market By Volume 2019-2028 (Unit Sales)
Graph-2 Construction Equipment Market In Oman By Type, 2021 (% Volume Share)
Graph-3 Oman Construction Equipment Market By Volume, 2019-2028 (Unit Sales)
Graph-4 Oman Construction Equipment Market By Value, 2019-2028 ($ MN)
Graph-5 Oman Construction Equipment Market by End User, 2021 (%)
Graph-6 Oman Construction Equipment Market by Type, 2019-2028 (Unit Sales)
Graph-7 Oman GDP, 2015-2020 ($ BN)
Graph-8 Revenue By Sectors 2021 ($ BN)
Graph-9 Foreign Direct Investment, Net Inflow, 2016-2020 ($ BN)
Graph-10 Oman Construction Equipment Market by Type, 2019-2028 (Unit Sales)
Graph-11 Oman Construction Equipment Market by Type 2021 (% Volume Share)
Graph-12 Oman Construction Equipment Market by End User, 2019- 2028 (Unit Sales)
Graph-13 Oman Earthmoving Equipment Market, 20192028 (Unit Sales)
Graph-14 Oman Earthmoving Equipment Market, 20192028 ($ MN)
Graph-15 Oman Excavator Market, 20192028 (Unit Sales)
Graph-16 Oman Excavator Equipment Market, 20192028 ($ MN)
Graph-17 Oman Backhoe Loader Market, 20192028 (Unit Sales)
Graph-18 Oman Backhoe Loader Equipment Market, 20192028 ($ MN)
Graph-19 Oman Motor Grader Market, 20192028 (Unit Sales)
Graph-20 Oman Motor Grader Market, 20192028 ($ MN)
Graph-21 Oman Other Earthmoving Equipment Market, 20192028 (Unit Sales)
Graph-22 Oman Other Earthmoving Equipment Market, 20192028 ($ MN)
Graph-23 Oman Material Handling Equipment Market, 20192028 (Unit Sales)
Graph-24 Oman Material Handling Equipment Market, 20192028 ($ MN)
Graph-25 Oman Forklift and Telescopic Handler Market, 20192028 (Unit Sales)
Graph-26 Oman Forklift and Telescopic Handler Market, 20192028 ($ MN)
Graph-27 Oman Crane Market, 20192028 (Unit Sales)
Graph-28 Oman Crane Market, 20192028 ($ MN)
Graph-29 Oman Aerial Platforms Market, 20192028 (Unit Sales)
Graph-30 Oman Aerial Platforms Market, 20192028 ($ MN)
Graph-31 Oman Road Construction Equipment Market, 20192028 (Unit Sales)
Graph-32 Oman Road Construction Equipment Market, 20192028 ($ MN)
Graph-33 Oman Road Roller Market, 20192028 (Unit Sales)
Graph-34 Oman Road Roller Market, 20192028 ($ MN)
Graph-35 Oman Asphalt Paver Market, 20192028 (Unit Sales)
Graph-36 Oman Asphalt Paver Market, 20192028 ($ MN)
Graph-37 Oman Construction Equipment Market By Construction, 20192028 (Unit Sales)
Graph-38 Oman Construction Equipment Market By Construction, 20192028 ($ MN)
Graph-39 Oman Construction Equipment Market By Manufacturing, 20192028 (Unit Sales)
Graph-40 Oman Construction Equipment Market By Manufacturing, 20192028 ($ MN)
Graph-41 Oman Construction Equipment Market By Mining, 20192028 (Unit Sales)
Graph-42 Oman Construction Equipment Market By Mining, 20192028 ($ MN)
Graph-43 Oman Construction Equipment Market By Others, 20192028 (Unit Sales)
Graph-44 Oman Construction Equipment Market By Others, 20192028 ($ MN)
Graph-45 Import Value of Construction Equipment From Major Countries, 2018 ($ 000s)
Graph-46 Export Value of Construction Equipment To Major Countries, 2018 ($ 000s)
Graph-47 Market Share Leaders & Other Vendors, 2021 (%)
Graph-48 Komatsu: Consolidated Net Sales, 2018-2020 ($ BN)
Graph-49 Komatsu: Construction, Mining And Utility Equipment Business, Sales By Region, 2020
(% Share)
Graph-50 Komatsu: Breakdown Of Net Sales By Segment, 2020 (% Share)
Graph-51 Caterpillar: Total Revenue, 2018-2021 ($ BN)
Graph-52 Caterpillar: Sales By Region, 2020 (% Share)
Graph-53 Caterpillar: Total Revenue By Segment, 2020 (% Share)
Graph-54 Volvo: Construction Equipment Net Sales, 2016-2021 ($ BN)
Graph-55 Volvo: Share Of Net Sales By Market, 2021 (% Share)
Graph-56 Volvo: Share Of Net Sales By Segment, 2021 (% Share)
Graph-57 Hitachi: Revenue, 2020-2021 ($ BN)
Graph-58 Hyundai: Revenue (20182020) ($BN)
Graph-59 Liebherr: Total Revenue, 2018-2020 (% Share)
Graph-60 Liebherr: Revenue By Region (% Share)
Graph-61 Liebherr: Total Revenue By Product Segment, 2020 (% Share)
Graph-62 Zoomlion: Revenue 2017-2020 ($ BN)
Graph-63 Kubota: Revenue, 2016-2020 ($ BN)
Graph-64 Kubota: Revenue By Segment, 2020 (% Share)
Graph-65 Kubota: Revenue By Region, 2020 (% Share)
LIST OF TABLES
Table-1 Trade Value ($ MN)
Table-2 Foreign Trade Indicators
Table-3 Oman Construction Equipment Market By Volume 2019-2028 (Volume, Units)
Table-4 Oman Construction Equipment By Type 2019-2018 (Volume, Units)
Table-5 Oman Earth Moving Equipment Market Size & Forecast, By Type (Volume, Units)
Table-6 Oman Material Handling Equipment Market Size & Forecast, By Type (Volume, Units)
Table-7 Oman Road Construction Equipment Market Size & Forecast, By Type (Volume, Units)
Table-8 Oman Construction Equipment Market Size & Forecast, By End User (Units)
Table-9 Oman Construction Equipment Market By Value 2019-2028 (Value, $ MN)
Table-10 Oman Construction Equipment By Type 2019-2018 (Value, $ MN)
Table-11 Oman Earth Moving Equipment Market Size & Forecast, By Type (Value, $ MN)
Table-12 Oman Material Handling Equipment Market Size & Forecast, By Type (Value, $ MN)
Table-13 Oman Road Construction Equipment Market Size & Forecast, By Type (Value, $ MN)
Table-14 Oman Construction Equipment Market Size & Forecast, By End User
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