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Kuwait Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)

Publisher GlobalData
Published Sep 06, 2024
Length 44 Pages
SKU # GBDT19273858

Description

Kuwait Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)


Summary

GlobalData’s Construction in Kuwait - Key Trends and Opportunities to 2028 (H2 2024) report provides detailed market analysis, information, and insights into Kuwait’s construction industry, including -
  • Kuwait’s construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Kuwait’s construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
The construction industry in Kuwait is expected to decline marginally by 0.6% in real terms in 2024, owing to high construction costs, political instability, budgetary cuts for several infrastructure projects, and falling project revenue projections; especially due to decline in oil export earnings. As part of the 2024/25 Fiscal Year (FY) Budget (1st April 2024 to 31st March 2025), approved in January 2024, KWD24.5 billion ($79.7 billion) is allocated for capital expenditure, which is 6.5% less compared to expenditure of KWD26.2 billion ($85.2 billion) in FY2023/24. According to FY2024/25 Budget, tax revenue is projected at KWD18.7 billion ($60.8 billion), with revenue from the oil sector projected at KWD16.2 billion ($52.7 billion), while non-oil sector revenue is estimated to stand at KWD2.4 billion ($7.8 billion), giving Kuwait a budget deficit of KWD5.6 billion ($18.33 billion).

In May 2024, the government announced plans to freeze its National Assembly until 2028 to streamline decision-making and in turn, enhance focus on key projects and reforms without legislative interruptions. This move comes in response to opposing a project by the US based chemical producer, Dow Chemical, in November 2023, which led to a fine of KWD614.7 million ($2 billion) on the government.

Scope

This report provides a comprehensive analysis of the construction industry in Kuwait. It provides -
  • Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Kuwait, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
  • Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

Table of Contents

44 Pages
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
Outlook
Latest news and developments
Construction Projects Momentum Index
4.2 Commercial Construction
Outlook
Project analytics
Latest news and developments
4.3 Industrial Construction
Outlook
Project analytics
Latest news and developments
4.4 Infrastructure Construction
Outlook
Project analytics
Latest news and developments
4.5 Energy and Utilities Construction
Outlook
Project analytics
Latest news and developments
4.6 Institutional Construction
Outlook
Project analytics
Latest news and developments
4.7 Residential Construction
Outlook
Project analytics
Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Kuwait, Key Economic Indicators
Table 3: Kuwait, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Kuwait, Top Commercial Construction Projects by Value
Table 5: Kuwait, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Kuwait, Top Industrial Construction Projects by Value
Table 7: Kuwait, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Kuwait, Top Infrastructure Construction Projects by Value
Table 9: Kuwait, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Kuwait, Top Energy and Utilities Construction Projects by Value
Table 11: Kuwait, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Kuwait, Top Institutional Construction Projects by Value
Table 13: Kuwait, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Kuwait, Top Residential Construction Projects by Value
Table 15: Kuwait, Key Contractors
Table 16: Kuwait, Key Consultants
Table 17: Kuwait, Construction Output Value (Real, $ Million)
Table 18: Kuwait, Construction Output Value (Nominal, KWD Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Middle East and North Africa, Construction Output (Real % Change), 2022-28
Figure 2: Kuwait, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Kuwait, Risk Summary
Figure 4: Kuwait, Risk Regional Comparison
Figure 5: Kuwait, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Kuwait, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Kuwait, Construction Value Add (KWD Million, 2010 Constant Prices)
Figure 8: Kuwait, Construction Projects Momentum Index
Figure 9: Middle East and North Africa, Construction Projects Momentum Index
Figure 10: Kuwait, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 11: Kuwait, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 12: Kuwait, Wholesale and Retail Trade Value Add (KWD Million, 2010 Constant Prices)
Figure 13: Kuwait, Hotels and Restaurants Value Add (KWD Million, 2010 Constant Prices)
Figure 14: Kuwait, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 15: Kuwait, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: Kuwait, Manufacturing Value Add (KWD Million, 2010 Constant Prices)
Figure 17: Kuwait, Export Volume Index, (2010=100)
Figure 18: Kuwait, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 19: Kuwait, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: Kuwait, Transportation and Storage Value Add (KWD Million, 2010 Constant Prices)
Figure 21: Kuwait, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 22: Kuwait, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 23: Kuwait, Extraction of Crude Oil, Natural Gas and Related Services Value Add (KWD Million, 2010 Constant Prices)
Figure 24: Kuwait, Electricity, Gas & Water Value Add (KWD Million, 2010 Constant Prices)
Figure 25: Kuwait, Telecommunication Value Add (KWD Million, 2010 Constant Prices)
Figure 26: Kuwait, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 27: Kuwait, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Kuwait, Education Value Add (KWD Million, 2010 Constant Prices)
Figure 29: Kuwait, Health Value Add (KWD Million, 2010 Constant Prices)
Figure 30: Kuwait, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 31: Kuwait, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 32: Kuwait, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 33: Kuwait, Headquarters of Key Consultants (% of Total Project Pipeline)

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