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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