Oman Construction Equipment Market - Outlook and Forecast 2022-2028

Market Overview

The Oman construction equipment market is projected to reach a value of USD 157 million by 2028, growing at a compound annual growth rate (CAGR) of 4.60%.

The increasing government investments in commercial complexes, public transportation networks, and other projects are expected to drive the demand for aerial platforms in the coming years. Notable infrastructure projects like the Blue city project, Madinat Al Irfan, the Western Area of Madinat Al Irfan, and the Sino-Oman Industrial city are currently underway in 2022. The aerial platforms segment in Oman is estimated to reach a value of $8 million by 2028.

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Market Report

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Base Year


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Market Size

USD 157 Mn incremental growth between 2021 and 2026

Market Segments

Type and End User



No. of Companies Mentioned


In 2020, the demand for new construction equipment in Oman declined by 7.2% due to the adverse impact of the COVID-19 pandemic on the construction industry, which saw a decline of approximately 16% compared to 2019. This downturn led to the suspension of major infrastructure projects.

The construction industry is expected to generate the highest demand for construction equipment, driven by the Oman’s Tenth-Five Year Development Plan (2021-2025) and Oman’s Vision 2040 programs. These initiatives are set to dominate the construction equipment market in Oman over the forecast period. Additionally, government efforts to diversify the economy and favorable policies for foreign investment have spurred industrial developments in the construction industry, resulting in increased demand for construction equipment.

Under the Oman’s Vision 2040 program, the government aims to diversify the economy, which is currently heavily dependent on the oil and gas sector. In 2021, the government announced 130 projects focused on manufacturing, tourism, logistics, the labor market, the business environment, fisheries, energy, and mining sectors. These projects include the development of a technologically advanced manufacturing base, the promotion of tourism with attractive sites, and improvements in logistics through an increase in the number of ports. In 2022, seven new tourism projects are scheduled to commence with an allocated funding of approximately $501 million, a significant increase from the $137.7 million allocated in 2021.

By 2040, it is estimated that around 911,940 housing units will be needed to accommodate the population. Consequently, the government has started investing in housing infrastructure. In 2021 alone, the government distributed 23,066 plots of land across various governorates of the Sultanate. Furthermore, roads and other public infrastructure, such as schools and shopping malls, will be developed around these housing units. This development not only supports the demand for material handling equipment in Oman but also increases the overall demand for construction equipment.

As part of the Hydrogen-Centric Economy by 2040 program, there is a shift towards hydrogen fuel-based construction equipment, leading to an increased demand for green hydrogen fuel-based construction equipment in Oman. Environmental conservation is a key objective of Oman’s tenth five-year plan (2021-2025). Green hydrogen fuel-based construction equipment, such as Caterpillar’s 100% green hydrogen fuel-based equipment, are equally efficient compared to gasoline fuel-based equipment. This trend is expected to promote the use of green hydrogen fuel-based construction equipment in Oman throughout the forecast period.

Market Segmentation

The market is segmented based on various factors, including type and end user.

Segmentation by Type
Earthmoving Equipment – Excavator, Backhoe Loaders, Motor Graders, Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
Material Handling Equipment – Crane, Forklift & Telescopic Handlers, Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Road Construction Equipment – Road Rollers, Asphalt Pavers

Segmentation by End Users

The Oman construction industry witnessed significant growth in various equipment segments in 2021. The earthmoving equipment segment emerged as the largest, followed by material handling and road construction equipment. Among these segments, excavators held the largest market share.

The demand for excavators is projected to rise in the coming years, primarily driven by government investments in infrastructure development and the growing emphasis on renewable energy. In 2021, the earthmoving equipment segment accounted for 60% of the overall construction equipment market in Oman.

By 2028, it is estimated that the earthmoving equipment segment will reach a share of 2,200 units in Oman, with a compound annual growth rate (CAGR) of 4.86%. This growth can be attributed to urban transformation projects, which involve the demolition of old buildings and the modernization of inner-city regions.

Furthermore, in 2021, the utilization of construction equipment in the overall construction industry accounted for 61.3% of the market. It is projected that by 2028, the use of construction equipment in this industry will grow at a CAGR of 5.10%, reaching 2,283 units.

The construction industry plays a crucial role in Oman’s economic diversification strategies, as outlined in the Oman Vision 2040 plan. It is considered the second largest non-oil and gas sector growth driver, contributing significantly to the country’s economy.

Competitive Landscape

Key companies profiled in this report include XCMG, Komatsu, Caterpillar, Sany, Volvo CE, Hitachi, Hyundai Construction Equipment, CNH Industrial, JCB, Liebherr, Zoomlion, Kobelco, Kubota, Manitou.

Key Questions Answered

What is the size of the Oman construction equipment market?

What is the growth rate of the Oman construction equipment market?

Who are the key players in the Oman construction equipment market?

What are the trends observed in the Oman construction equipment market?

Which are the major distributor companies operating in the Oman construction equipment market?

Original price was: USD 2,200.Current price is: USD 1,320.

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Oman Construction Equipment Market - Outlook and Forecast 2022-2028

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Oman Construction Equipment Market - Outlook and Forecast 2022-2028

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