Oman Facility Management Market Size (2024 - 2029)

The Oman facility management market is poised for growth, driven by the expanding construction and commercial sectors, alongside government initiatives and the hospitality industry's expansion. The adoption of integrated facilities management is creating cost-effective solutions for businesses, enhancing demand for both hard and soft services. Oman’s Vision 2040 aims to foster industrial growth and develop smart, sustainable cities, presenting significant opportunities for market expansion. Despite challenges such as pricing pressures and a fragmented market with many local vendors, the demand from commercial entities like shopping malls and IT companies is expected to accelerate market growth. The market's emergence has been influenced by the pandemic, which initially hindered growth but highlighted the importance of facility management services.

Market Size of Oman Facility Management Industry

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Oman Facility Management Market Summary
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

Oman Facility Management Market 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 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
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Oman Facility Management Market Size Summary

The Oman facility management market is poised for significant growth, driven by the expansion of the construction and commercial sectors, alongside government initiatives and the burgeoning hospitality industry. The adoption of integrated facilities management (IFM) solutions has created substantial opportunities, enabling businesses to optimize efficiency and reduce costs. Oman’s Vision 2040 aims to transform the country into a knowledge-based society with smart, sustainable cities and advanced infrastructure, further propelling the demand for facility management services. Despite challenges such as a fragmented market with numerous local vendors and the impact of the COVID-19 pandemic, which initially hindered growth, the market is expected to recover and expand rapidly. The rise in shopping malls and commercial developments, such as the Mall of Oman, underscores the increasing need for outsourced facility management services, which are anticipated to gain traction due to their cost-effectiveness and efficiency.

The commercial sector in Oman is a significant driver of the facility management market, with substantial investments in ICT infrastructure and e-government services enhancing the region's appeal to IT and telecommunications companies. The country's focus on reducing the digital divide through its National Broadband Strategy is expected to attract further commercial investments. The market is characterized by high competition, with both local and international players innovating and forming strategic partnerships to maintain their market share. Recent collaborations, such as Renaissance's partnership with SOURCE Global for sustainable water solutions, highlight the industry's commitment to innovation. Additionally, significant construction projects and foreign investments are set to bolster the market, with key players like Petroleum Development Oman awarding contracts to local companies, further stimulating growth in the facility management sector.

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Oman Facility Management Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Consumers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Intensity of Competitive Rivalry

      5. 1.2.5 Threat of Substitute Products

    3. 1.3 Assessment of COVID-19 Impact on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Inhouse Facility Management

      2. 2.1.2 Outsourced Facility Management

        1. 2.1.2.1 Single FM

        2. 2.1.2.2 Bundled FM

        3. 2.1.2.3 Integrated FM

    2. 2.2 By Offering Type

      1. 2.2.1 Hard FM

      2. 2.2.2 Soft FM

    3. 2.3 By End User

      1. 2.3.1 Commercial

      2. 2.3.2 Institutional

      3. 2.3.3 Public/Infrastructure

      4. 2.3.4 Industrial

      5. 2.3.5 Others

Oman Facility Management Market Size FAQs

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.

In 2024, the Oman Facility Management Market size is expected to reach USD 0.70 billion.

Oman Facility Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)