Kuwait Construction Market Size By Sector (Commercial, Residential, Industrial, Transportation, Energy And Utilities Construction) And Forecast

Kuwait Construction Market Size And Forecast

Kuwait Construction Market size was valued at USD 5.66 Billion in 2020 and is projected to reach USD 9.19 Billion by the end of 2028, growing at a CAGR of 6.23% from 2021 to 2028.

The major factor driving the Kuwait Construction Market will be Kuwait’s tax reforms that are encouraging foreign investors to invest in the country. They are giving benefits like income tax holidays and customs-free equipment importation, the country is hoping to attract more foreign investment. The Kuwait Construction Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Kuwait Construction Market Definition

Kuwait Vision 2035 follows His Highness the Emir’s hopes of remodeling Kuwait into a world-class financial and commercial center. The country aims to realize this, with the private sector leading economic activities, fostering competitiveness, and increasing productivity, supported by viable public institutions, while maintaining deep-rooted morals and therefore the national identity. For achieving this, Kuwait is focusing on its infrastructure and hence, the Kuwait Construction Market is anticipated to boom in the forecasted period.

Kuwait Construction Market Overview

Kuwait is really putting its money where its mouth is when it comes to Vision Kuwait 2035. They've already sunk over USD 60 billion into making it a reality! And according to top officials, there's still about USD 100 billion more to go. The big focus? Building and developing, like constructing what they hope will be the Middle East's most important port – the Mubarak Al-Kabeer Port – and a shiny new passenger terminal at Kuwait International Airport. Plus, they're planning a massive petrochemical complex, oil refineries, and even renewable energy complexes. The long game is to rely less on oil and more on good old human ingenuity and innovation. They’re aiming to invest that final USD 100 billion by 2035.

The Kuwait Development Plan (KDP) is gearing up to roll out over 500 projects! Think major upgrades to core infrastructure, utilities, and housing all over Kuwait, plus big moves to boost the country’s oil and gas sector. One of the biggest deals on the table? A USD 20 billion metro rail network. Imagine a three-line system with 61 stations, covering the entire capital! And that's not all – there's also a proposed KD 8 billion (USD 27.56 billion) rail network in the works, designed to link Kuwait with its GCC buddies through the GCC rail network. Let's not forget the Mubarak Al Kabeer Port on Boubyan Island, another massive infrastructure undertaking that will be financed and built as part of the KDP.

We're also working on some exciting things like building Madinat Al Harper, which everyone calls Silk City. Plus, we're sprucing up Failaka Island, that beautiful spot just 20 km offshore, to make it a tourist hotspot. And, of course, we're upgrading our sewage and solid waste systems nationwide. The thing is, since about 80% of our money comes from oil and gas, any dip in oil prices really hits everything, including construction.
And, because land prices in Kuwait have gone through the roof due to high demand and limited resources, building anything costs more, which puts a damper on things.
To top it off, corruption and political uncertainty make foreign investors a bit nervous, so they often look to other places in the GCC instead.

Kuwait Construction MarketSegmentation Analysis

The Kuwait Construction market is segmented on the basis of Sector.

Kuwait Construction Market, By Sector

• Commercial Construction
• Residential Construction
• Industrial Construction
• Transportation Construction
• Energy and Utilities Construction

On the basis of Sector, The market is divided into categories such as Commercial Construction, Residential Construction, Industrial Construction, Transportation Construction, and Energy and Utilities Construction. Out of these, the transportation construction sector will see the most growth in the forecasted period as Kuwait is planning to construct its largest ports and airports, as well as they, are improving its connectivity to other GCC countries via rail and road networks.

Key Players

The “Kuwait Construction Market” study report will provide valuable insight with an emphasis on the market. The major players in the market are JGC Corporation, SNC-Lavalin, Van Oord Dredging & Marine Contractors BV, Fluor Corp., Hyundai Engineering & Construction Co. Ltd., UGCC, and Al-Hani. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

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Reasons to Purchase this Report

We dig deep, using both numbers and qualitative insights, to understand the market by breaking it down into segments based on all sorts of things – not just money, but other important factors too. We'll give you the scoop on market size with actual numbers (in USD Billion!) for each segment, big and small. Plus, we'll point out the fastest-growing areas and which ones are the biggest. Get a regional breakdown, seeing where products/services are being used and the local factors impacting the market. We also map out the competition, showing you who's on top, what new stuff they're launching, and any partnerships or acquisitions they've made in the last five years. You'll get detailed company profiles, including overviews, insights, product comparisons, and even SWOT analyses of the major players. Expect a clear view of where the market is now and where it's heading, considering growth opportunities, what's driving things forward, and the challenges along the way, in both emerging and developed areas. We'll even give you an in-depth look at the market from different angles using Porter's five forces. Understand the Value Chain and how it all fits together. Finally, we offer a market dynamics scenario, highlighting the best chances for growth in the years ahead, and 6-month post-sales analyst support to help you put it all into action.

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