Oman Facility Management Market Report and Forecast 2032

Oman Facility Management Market Insights & Analysis

Oman Facility Management Market is USD 0.81 Billion in 2024 and is forecast to register a CAGR of around 12.5% during the forecast period, i.e., 2024-32. Due to increasing demand from various industries such as healthcare, hospitality, education, and retail, the market has witnessed substantial growth in recent years. Facility management services in the country incorporate a range of functions, such as maintenance & repair, cleaning, security, landscaping, waste management, and energy management.

Aside from asset management and project management, the sector also offers space planning services. Several factors have contributed to the sector's expansion, including the growing economy in Oman and population growth. As organizations in Oman continue to grow & expand, the need for facility management services is expected to upgrade. For instance, in 2022, Al Ruzaiqy Group joined forces with the Ascott Group to inaugurate its hotel in Oman. This partnership facilitated the introduction of Ascott Group's facility management services across the country.

Furthermore, the adoption of integrated facilities management (IFM) by Oman's facility management vendors has created significant opportunities in the market globally. End-users can cut expenses for repetitive chores by utilizing integrated facilities management, which is essential for companies trying to run profitably & efficiently. The Omani government's emphasis on promoting tourism & developing infrastructure, in addition to other development measures, has increased the sector’s potential for the facility management industry.

Additionally, numerous sectors are in need of facility management services, as a result of government measures to diversify the economy & draw in foreign investments. For example, Oman developed Vision 2024 to guide the nation’s future advancements. This vision seeks to establish Oman as a regional leader in the Middle East by focusing on knowledge-based society & sustainable, technologically advanced infrastructure. Hence, owing to this it is predicted that the Oman Facility Management Market would grow in the next few years, offering a variety of chances for industry service providers.

Oman Facility Management Market Dynamics

• Constant Development & Progression Across Oman to Drive the Growth

Oman is currently going through a phase of growth & development, marked by significant government-initiated infrastructure projects. Government’s initiatives, expansion of the hospitality industry, rising construction sector, and the increased demand from the commercial segment, all contribute to the progression of the Oman Facility Management Market.

Additionally, the country’s government has taken a number of steps to diversify the economy of the nation away from the oil & gas industry. Initiatives, such as Oman Vision 2040 and Oman Vision 2030 aim to attract increased foreign direct investment (FDI) to establish Oman as a prominent player in the Middle East, thus creating new business prospects.

Moreover, the nation is actively working on the development of industrial cities such as Sur, Al Burmi, and Nizwa, among others. This strategic move offers lucrative opportunities for market players in the facility management sector.

• Insufficient Awareness among End-users to Hinder Growth

The Oman Facility Management Market encounters several challenges, with one significant hurdle being the limited awareness of these services among end-users. The presence of both organized and unorganized players in the market provides consumers with choices primarily based on price. However, this can lead to compromises in service quality, which clients may overlook initially, ultimately causing issues for them in the long term. This situation not only affects consumers but also constrains the overall growth of the market.

Oman Facility Management Market Segment-wise Analysis

By Type:

• In-house FM Service
• Outsourced FM Service

• Single FM
• Bundled FM
• Integrated FM

Over the forecast period, Outsourced Facility Management (FM) is poised to gain significant momentum in the Oman Facility Management market, tapping into its potential share. There is a growing demand for a wide range of contracts, including single, bundled, and integrated FM services in Oman. These services offer various advantages, such as cost reduction, streamlined service delivery, contractual flexibility, and relief from equipment maintenance, among others.

The growing GDP of Oman is also a dynamic force behind the increasing demand for Outsourced FM services across the nation. According to IMF data, Oman's Gross Domestic Product (GDP) at current prices is predicted to touch nearly USD 95.51 billion in 2026, compared to USD 63.37 billion in 2020.

Moreover, the growing number of retail centers & supermarkets in Oman has elevated the need for facility management services that are outsourced. For example, the demand for these facility services has increased since Majid Al Futtaim's Mall of Oman opened in Feb 2024, which would enhance the Oman Facility Management Market size in future.

By End User:

• Commercial
• Institutional
• Public/Infrastructure
• Industrial

The Commercial sector is presumed to hold a substantial share of the Oman Facility Management Market in the ensuing years. The commercial sector in Oman is seeing a significant upgrade, with a primary emphasis on expanding information and communication technology (ICT) infrastructure to bridge the digital gap. This initiative is part of the National Broadband Strategy, which aims to bring broadband services to more than 90% of metropolitan areas by 2030 and attain nearly 75% overall penetration in the country.

Furthermore, increased spending on essential ICT infrastructure projects and the development of various e-government services would probably attract IT & telecoms companies to locate in the area, which will significantly accelerate market growth.

Over the past few years, the country has observed significant construction projects. As per the World Bank, it is foreseen that around 7,857 businesses would be registered in the country by the end of 2024. Therefore, with a forward-looking method to foreign investments and the extension of commercial service providers, the nation has been witnessing a rise in construction projects, further elevating the Facility Management Market.                                                           

What Does Our Oman Facility Management Market Research Study Entail?

• Oman Facility Management Market Research Report highlights the forecast growth rate or CAGR by anticipating the market size & share.
• The market analysis puts light upon the primary industry trends, driving aspects, potential opportunities, growth challenges, and other major factors.
• Oman Facility Management Market Research Report entails details about the most critical shifts in market share in the prominent regions.
• Considering the statistics & the developments by the primary market competitors, our report also strives to demonstrate the most sought-after strategies of the key players.