Growing Government Focus on Stabilizing Economy to Aid Oman Automotive Market until 2023

Increasing oil production, growing number of infrastructure projects and attractive promotional offers by automotive dealers & distributors to drive Oman automotive market through 2023

According to TechSci Research report, “Oman Automotive Market By Vehicle Type, By Fuel Type, By Tonnage, By Application, Competition, Forecast & Opportunities, 2013-2023”, passenger car and commercial vehicle markets in Oman are forecast to reach $ 4.2 billion and $ 370 million by 2023, respectively. Growing government focus on stabilizing the economy, increasing number of construction and infrastructure development projects, and several sales & promotional offers by automotive dealers are expected to boost automobile sales in the country over the course of next five years. Moreover, increasing number of registered enterprises and growing presence of Indian automobile manufacturers would have a positive impact on the country’s automotive market during forecast period.

Browse 23 market data Tables and 53 Figures spread through 125 Pages and an in-depth TOC on “Oman Automotive Market”

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SUV/pickup segment dominated the passenger car market in Oman in 2017, on account of growing consumer spending and stabilizing crude oil prices. In the reported year, light commercial vehicle (LCV) emerged as the leading vehicle type in the country’s commercial vehicle market, backed by increasing demand for LCVs from logistics and construction sectors as well as MSMEs. Muscat is the largest demand generating region for passenger cars and commercial vehicles in the country, owing to the presence of maximum point of sales and distribution network in the region. Growing presence of various automotive companies such as Toyota Motor Corporation, Nissan Automobiles, Isuzu Motors Middle East FZE, Mitsubishi Motor Corporation, Hyundai Automotive and Hino Trucks is anticipated to aid Oman automotive market over the course of next five years.

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“Oman is the third largest automotive market in the Middle East region. Owing to the availability of financing options, rapid growth in road infrastructure, a wide range of product offerings, and growing number of international brands entering the market, Oman automotive market is expected to grow during the forecast period. The country has been witnessing significant growth in its vehicle fleet over the last few years. Moreover, major automakers are planning to set up manufacturing and assembly units in Oman, which would meet the growing demand for automobiles in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

 “Oman Automotive Market By Vehicle Type, By Fuel Type, By Tonnage, By Application, Competition, Forecast & Opportunities, 2013-2023” has analyzed the potential of automotive market across Oman, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by the industry.

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