Oman Car Finance Market Outlook to 2027F

By Booking Mode (Online, Offline), By Ownership of Cars (New Car, Used Car), By Type of Car (Hatchbacks, Sedans, Luxury Cars, Sports Utility Vehicle), By Category of Lenders (NBFCs, Banks, OEMs, Captives), By Loan Tenure 12-24 Months, 25-48 Months

Region:Middle East


Product Code:KROD115

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Published on

January 2023

Total pages


About the Report

About the Report

The report provides a comprehensive analysis of the potential of Oman car finance market. The report covers an overview and genesis of the industry, market size in terms of number of products sold and revenue generated.

Its market segmentations include by Booking Mode, By Type of Car, By Ownership of Car, By Category of Lenders, By Loan Tenure; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with the future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Oman car finance market – which grew from approximately ~% in 2017 to approximately ~% in 2022P – is forecasted to grow further into ~% opportunity by 2027F. The Oman car finance market contributed to a global growth rate of ~% owing to the emergence of online car finance applications, rising demand for electric vehicles, adoption of digital technologies for car financing and rising vehicle prices.

Oman Car Finance Market Revenue

  • The increasing vehicle prices are driving the demand for car finance services. Car finance providers are adopting digital tools to expedite the service processes remotely.
  • Banks lag further behind in dealer satisfaction: In the retail credit segment, captive finance companies continue to lead in dealer satisfaction and leasing companies are catching up quickly, while the performance of banks decreases.

Key Trends by Market Segment:

By Category of Lenders: Banks hold the largest share in providing financial services in Oman Car Finance Market in 2022P. Though NBFCs are rising in demand still people prefer to go to banks for financial assistance rather than any other provider.

Oman Car Finance Market Segmentation By Category of Lenders

By Type of Car: Hatchbacks hold the largest share in the Oman Car Finance Market in 2022P. It alone accounted for more than half of the total market share. Considering the lifestyle choices, onset of younger working population and developments, demand for Sedans is expected to witness growth during the forecast period.

Oman Car Finance Market Segmentation By Type of Car

Competitive Landscape

In Oman Car Finance Market, there are about ~ players operating in the overall market, and top players account for ~% share in the market in terms of revenue. The major parameters on which these players complete includes loan tenure, rate of interest, ease of loan procurement and affordable down payments. Key major players include Bank Nizwa, National Bank of Oman, Muscat Finance Co. Ltd and United Finance.

Ecosystem of Oman Car Finance Market

Future Outlook

During the forecast period of 2022P-2027F, it is anticipated that the car finance market in Oman will grow at a CAGR of ~% by 2027F. Major players account for a considerable percentage of online sales in the region and actively participate in providing easy loans and reducing customer hassle to gain more market share in future. Covid-19 has triggered the demand for financing cars based on down payments and paying rest amounts in the form of monthly EMI.

Scope Of The Report

Scope of the Report

By Ownership of Car

New Car

Used Car

By Category of Lenders





By Loan Tenure

12-24 Months

25-48 Months

49-60 Months

By Type of Car



Luxury Cars


By Booking Mode



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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Existing Auto Finance Companies
  • Banks
  • OEM Dealerships
  • Captive Finance Companies
  • Credit Unions
  • Private Finance Companies
  • New Market Entrants
  • Government Organizations
  • Investors
  • Auto mobile Associations
  • Auto mobile OEMs 

Time Period Captured in the Report

  • Historical Year: 2017-2022P
  • Base Year: 2022P
  • Forecast Period: 2022P– 2027F


Major Players Mentioned in the Report


  • Muscat Finance
  • Taageer Finance
  • Al Omaniya Financial Services
  • National Finance
  • Oman Orix Leasing
  • United Finance


  • Bank Dhofar
  • Oman Arab Bank
  • Ahli Bank
  • Bank Sohar
  • Bank Muscat
  • Alizz Islamic Bank
  • Bank Nizwa

Table of Contents

Table of Contents

1. Executive Summary

2. Oman Car Finance Market Overview

2.1 Taxonomy of the Oman Car Finance Market

2.2 Industry Value Chain

2.3 Ecosystem

2.4 Government Regulations/Initiatives for the Oman Car Finance Market

2.5 Growth Drivers of the Oman Car Finance Market

2.6 Issues and Challenges of the Oman Car Finance Market

2.7 Impact of COVID-19 on the Oman Car Finance Market

2.8 SWOT Analysis

3. Oman Car Finance Market Size, 2017 – 2022

4. Oman Car Finance Market Segmentation

4.1   By Loan Tenure, 2017 - 2022

4.2 By Institution, 2017 - 2022

4.3 By Regional Split (North/East/West/South/Central), 2017 - 2022

5. Competitive Landscape

5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

5.2 Strategies Adopted by Leading Players

5.3 Company Profiles – (Top 5 - 7 Major Players)

5.3.1 Muscat Finance

5.3.2 Taageer Finance

5.3.3 Al Omaniya Financial Services

5.3.4 National Finance

5.3.5 Oman Orix Leasing

5.3.6 United Finance

5.3.7 Ahli Bank

6. Oman Car Finance Future Market Size, 2022-2027

7. Oman Car Finance Future Market Segmentation

7.1   By Loan Tenure, 2022 - 2027

7.2 By Institution, 2027 - 2027

7.3 By Regional Split (North/East/West/South/Central), 2022 - 2027

8. Analyst Recommendations

9. Research Methodology

10. Disclaimer

11. Contact Us

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Research Methodology

Research Methodology

Step 1: Identifying Key Variables:

Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.

Step 2: Market Building:

Collating statistics on car finance market over the years, to compute the revenues generated by the online market. We also understood the price points of various services offered.

Step 3: Validating and Finalizing:

Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.

Step 4: Research output:

Our team will approach multiple finance providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from car finance providers.

Frequently Asked Questions

Frequently Asked Questions

01 What is the Study Period of this Market Report?

The Oman Car Finance Market is covered from 2017–2027F in this report, including a forecast for 2022P-2027F.

02 What is the Future Growth Rate of the Oman Car Finance Market?

The Market is expected to witness a CAGR of ~% over the next years.

03 What are the Key Factors Driving the Oman Car Finance Market?

A low interest rate, Low or no fees offering, Hassle free procedure and Repayment flexibility is driving the market.

04 Who is the leading and most trusted Player in the Oman Car Finance Market?

United Finance Company has strived to remain the first-choice finance company in Oman.

05 Who are the Key Players in the Oman Car Finance Market?

Bank Nizwa, National Bank of Oman, Muscat Finance Co. Ltd, United Finance, Maisarah Islamic Banking Services are the few important car financing options in Oman.

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