Within the 2018-2023 timeframe, our forecast models predict growth from 3.7% p.a. in a low scenario to 8.6% p.a. in a high scenario. Accordingly, the industry in Oman is expected to achieve revenues of between $73m to $93m by 2023.
The commercial industrial gases market in Oman was estimated to have generated revenues of $61m in 2018. This was an increase from $47m in 2008, indicating an average annual growth rate of 3.3% p.a.
Between 2008-2018, GDP in Oman grew by an average of 8.7% p.a. showing consistent growth for the decade. The economy has experienced good growth in this period, and despite seeing a high decline in 2015 of -15.0%, it’s back on the up in 2018 with a growth rate of 20.2%.
Report Data: 2019
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