Construction in Kuwait – Key Trends and Opportunities to 2024

Prior to the Coronavirus (COVID-19) outbreak, Kuwait’s construction industry was struggling, with output declining by 7.0% in real terms in 2019 owing to weakness in energy and civil engineering work. Amid the worsening situation with regards to the COVID-19 outbreak, GlobalData expects the construction industry to contract by 9.5% in 2020. The negative outlook is weighed down by lower oil prices and the prospect of a higher fiscal deficit, compromising the government’s capital spending on construction and infrastructure.

Construction activities have been affected by the temporary suspension of work, in line with the government’s efforts to combat the outbreak by restricting non-essential activities. According to the Kuwait Business Impact Survey, released by Bensirri PR (BPR), approximately 39% of businesses in the construction sector have shut down their operations since the government implemented lockdown measures in the country.

Kuwait’s priority over the forecast period will be to fast-track economic reforms and diversify the economy away from its dependence on hydrocarbons. These plans are part of the country's long-term New Kuwait 2035 National Development Plan. However, progress on implementing the plan has been slow, partly because of political tensions between the government and the parliament, and partly because of an incompetent bureaucratic environment, which constitute a challenge when pursuing mega infrastructure projects

This 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

Scope

This report provides a comprehensive analysis of the construction industry in Kuwait. It provides –

– Historical (2015-2019) and forecast (2020-2024) 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

Table of Contents

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. COVID-19 Status

4 Construction Outlook

4.1. All Construction

4.1.1. Outlook

4.1.2. Latest news and developments

4.1.3. Construction Projects Momentum Index

4.2. Commercial Construction

4.2.1. Outlook

4.2.2. Project analytics

4.2.3. Latest news and developments

4.3. Industrial Construction

4.3.1. Outlook

4.3.2. Project analytics

4.3.3. Latest news and developments

4.4. Infrastructure Construction

4.4.1. Outlook

4.4.2. Project analytics

4.4.3. Latest news and developments

4.5. Energy and Utilities Construction

4.5.1. Outlook

4.5.2. Project analytics

4.5.3. Latest news and developments

4.6. Institutional Construction

4.6.1. Outlook

4.6.2. Project analytics

4.6.3. Latest news and developments

4.7. Residential Construction

4.7.1. Outlook

4.7.2. Project analytics

4.7.3. 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

8 About GlobalData

8.1. GlobalData Construction

8.2. Disclaimer

8.3. Contact Us

List of Tables

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), 2015-2024

Table 4: Kuwait, Top Commercial Construction Projects by Value

Table 5: Kuwait, Industrial Construction Output by Project Type (real % change), 2015-2024

Table 6: Kuwait, Top Industrial Construction Projects by Value

Table 7: Kuwait, Infrastructure Construction Output by Project Type (real % change), 2015-2024

Table 8: Kuwait, Top Infrastructure Construction Projects by Value

Table 9: Kuwait, Energy and Utilities Construction Output by Project Type (real % change), 2015-2024

Table 10: Kuwait, Top Energy and Utilities Construction Projects by Value

Table 11: Kuwait, Institutional Construction Output by Project Type (real % change), 2015-2024

Table 12: Kuwait, Top Institutional Construction Projects by Value

Table 13: Kuwait, Residential Construction Output by Project Type (real % change), 2015-2024

Table 14: Kuwait, Top Residential and Mixed-Use Construction Projects by Value

Table 15: Kuwait, Key Contractors

Table 16: Kuwait, Key Consultants

Table 17: Kuwait, Construction Output Value (Real, US$ Million)

Table 18: Kuwait, Construction Output Value (nominal, KWD Million)

Table 19: GlobalData Construction Market Definitions

List of Figures

List of Figures

Figure 1: Middle East and North Africa, Construction Output (real % change), 2020

Figure 2: Kuwait, Construction Projects Pipeline by Sector (US$ Billion)

Figure 3: Kuwait, COVID-19 Confirmed Cases

Figure 4: Kuwait, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2015-2024

Figure 5: Kuwait, Construction Output Value, by Sector (Real, US$ Million), 2015-2024

Figure 6: Kuwait, Construction Value-Add (KWD Million, Constant prices)

Figure 7: Kuwait, Construction Projects Momentum Index

Figure 8: Kuwait, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 9: Kuwait, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 10: Kuwait, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 11: Kuwait, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 12: Kuwait, Total Export Value (KWD, Thousand)

Figure 13: Kuwait, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 14: Kuwait, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 15: Kuwait, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 16: Kuwait, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 17: Kuwait, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 18: Kuwait, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 19: Kuwait, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 20: Kuwait, Residential Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 21: Kuwait, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 22: Kuwait, Headquarters of Key Consultants (% of Total Project Pipeline)

Figure 23: GlobalData at a Glance

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