Construction in Oman to 2022 | Market Research Trends and Opportunities
Synopsis
Oman’s construction industry suffered a sharp downturn in 2017, in part due to public expenditure cuts that stemmed from a decline in the country’s oil production. Consequently, construction output contracted by 6.1% in 2017, following an average annual growth of 9.8% during the preceding three years.
Although the collapse of oil prices in 2014 affected the oil-dependent economy, the government’s effort to diversify the economy through investments in non-oil sectors supported the industry’s overall growth in 2015–2016. Additionally, the implementation of the Eighth Five-Year Development Plan 2011–2015 supported the industry’s expansion, under which the government invested OMR12.0 billion (US$31.2 billion) to develop the country’s residential, transport, industrial and healthcare infrastructure.
The construction industry is expected to recover in 2018, supported by a gradual recovery in global oil prices. This growth is expected to continue throughout the forecast period (2018–2022), bolstered by the ongoing Ninth Five-Year Development Plan 2016–2020, under which the government is investing OMR66.0 billion (US$171.7 billion) until 2020 to develop overall infrastructure.
The industry’s output value in real terms recorded a compound annual growth rate (CAGR) of 5.57% during the review period, and is expected to post a forecast-period CAGR of 7.92%.
Summary
Construction in Oman Market Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the Omani construction industry:
Report provides:
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Oman’s construction industry suffered a sharp downturn in 2017, in part due to public expenditure cuts that stemmed from a decline in the country’s oil production. Consequently, construction output contracted by 6.1% in 2017, following an average annual growth of 9.8% during the preceding three years.
Although the collapse of oil prices in 2014 affected the oil-dependent economy, the government’s effort to diversify the economy through investments in non-oil sectors supported the industry’s overall growth in 2015–2016. Additionally, the implementation of the Eighth Five-Year Development Plan 2011–2015 supported the industry’s expansion, under which the government invested OMR12.0 billion (US$31.2 billion) to develop the country’s residential, transport, industrial and healthcare infrastructure.
The construction industry is expected to recover in 2018, supported by a gradual recovery in global oil prices. This growth is expected to continue throughout the forecast period (2018–2022), bolstered by the ongoing Ninth Five-Year Development Plan 2016–2020, under which the government is investing OMR66.0 billion (US$171.7 billion) until 2020 to develop overall infrastructure.
The industry’s output value in real terms recorded a compound annual growth rate (CAGR) of 5.57% during the review period, and is expected to post a forecast-period CAGR of 7.92%.
Summary
Construction in Oman Market Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the Omani construction industry:
Report provides:
- Growth prospects by market, project type and construction activity in Oman
- Critical insight into the impact of industry trends and issues
- Key risks and opportunities in the construction industry in Oman
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
- This report provides a comprehensive analysis of the construction industry in Oman. It provides:
- Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Oman, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
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View Full Report:
http://www.jsbmarketresearch.com/construction/construction-in-oman-key-trends-and-opportunities-to-2022
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