Market Research Reports, Inc. has announced the addition of “Construction in Kuwait - Key Trends and Opportunities to 2017” research report to their offering.
Lewes, DE -- (SBWIRE) -- 02/18/2014 -- The Kuwaiti construction industry recorded a CAGR of 7.50% during the review period (2008-2012). Cash surplus from oil and gas revenues allowed the government to make concessions and provide subsidies, which helped it to avoid the civil uprisings that have affected much of the Arab region. However, the government is trying to lower the country’s reliance on oil revenues and announced a KWD39 billion (US$130 billion) National Economic Development Plan for 2010?2014, with the aim of diversifying the country’s economy. Subsequently, significant investments are being made to improve the country’s transport infrastructure and increase participation in the private sector; although progress has slowed due to excessive bureaucracy and corruption. The industry’s output is expected to record a CAGR of 4.94% over the forecast period (2013-2017).
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This report provides detailed market analysis, information and insights into the Kuwaiti construction industry including:
- The Kuwait construction industry's growth prospects by market, project type and type of construction activity
- Analysis of equipment, material and service costs across each project type within Kuwait
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Kuwaiti construction industry
- Assessment of the competitive forces facing the construction industry in Kuwait, and profiles of the leading operators
- Data highlights of the largest construction projects in Kuwait.
This report provides a comprehensive analysis of the construction industry in Kuwait. It provides:
- Historical (2008-2012) and forecast (2013-2017) valuations of the construction industry in Kuwait using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
- Analysis of key construction industry issues, including regulation, cost management, funding and pricing
- Assessment of the competitive environment using Porter’s Five Forces analysis
- Detailed profiles of the leading construction companies in Kuwait
Reasons To Buy
- Identify and evaluate market opportunities using our 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 business strategies using Timetric's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Browser reports related to Kuwait at : http://www.marketresearchreports.com/countries/kuwait
The construction industry in Kuwait is set to thrive, due to new projects from the private sector and an increase in demand for residential, commercial and infrastructure activity. A number of large projects are currently planned or underway, accounting for a total of KWD52.6 billion (US$188 billion). The following projects are likely to be completed over the next six to seven years: the government’s ongoing metro project at KWD1.9 billion (US$7 billion), Kuwait International Airport at KWD0.9 billion (US$3.3 billion), a motorway construction project at KWD1.7 billion (US$6.2 billion) and the Subiya causeway at KWD0.7 billion (US$2.6 billion).
According to the National Bank of Kuwait (NBK), the real growth of GDP, in terms of oil production, slowed from 6.1% in 2012 to 3.2% in 2013, whereas the growth of non-oil GDP increased from 4% in 2012 to 4.7% in 2013. Kuwait is small, but has emerged as the second-wealthiest nation in the Gulf Corporation Council (GCC), with a per capita GDP of around KWD51.5 billion (US$184 billion). The country accounted for 7% of the total world reserves, with crude oil reserves of 104 billion barrels in 2012. In 2010, the Kuwaiti government introduced the National Economic Development Plan 2010–2014 to diversify from oil reserves and increase participation in the private sector. The plan is expected to allocate KWD36.4 billion (US$130 billion) to the development of residential, infrastructure, commercial and industrial markets.
Within the GCC, Kuwait emerged as the fourth-largest country undertaking high-end value projects, after the UAE, Qatar and Saudi Arabia. The project market is anticipated to flourish in 2014, although it may face excessive bureaucracy, budget surpluses and a scarcity of labor, resulting in the increasing cost of labor. Projects worth KWD3.8 billion (US$13.7 billion) will be signed in the first quarter of 2014 and contracts worth KWD2.6 billion (US$9.5 billion) will be signed at the end of 2014. Kuwait’s clean fuel and new refinery projects will together account for more than KWD4.2 billion (US$15 billion) and form the strength of Kuwait’s economy.
The GCC is undertaking a railway network project and construction work worth KWD55.9 billion (US$200 billion) will start in 2014. The project will link six GCC states in the Middle East and is expected to be operational by 2018. The Saudi Railway Organization (SRO) is involved in the engineering and design of the rail network. It involves the construction of 3,954km of rail line, covering the Gulf coast and extending from Oman to Kuwait, passing through the UAE, Bahrain, Qatar and Saudi Arabia. Progress on the project has been hampered by political and technical issues, although it will create a long-lasting impact on the country’s economy by encouraging trade.
The residential construction market is driven by a number of factors, such as the rate of urbanization, demographics, property prices and the disposable income of citizens. According to the Central Intelligence Agency (CIA), the country’s urban population accounted for 98.3% of the country’s total population in 2011. Moreover, the rate of urbanization is expected to grow at a rate of 2.42% annually during 2010–2015, while the Department of Economic and Social Affairs states that the country’s urbanization rate is expected to increase.
Spanning over 73 pages, 80 tables and 36 figures “Construction in Kuwait - Key Trends and Opportunities to 2017” report covering The Commercial Construction, Industrial Construction, Infrastructure Construction, Institutional Construction, Residential Construction, Company Profile: Combined Group Contracting Company KSCC, Company Profile: Kharafi National, Company Profile: Heavy Engineering Industries and Shipbuilding Company K.S.C.,Company Profile: Mushrif Trading & Contracting Co., Company Profile: Mohammed Abdulmohsin Al-Kharafi & Sons Company , Market Data Analysis, Appendix. The report company covered 5 companies - Combined Group Contracting Company KSCC, Kharafi National, Heavy Engineering Industries and, Shipbuilding Company KSC, Mushrif Trading & Contracting Co., Mohammed Abdulmohsin Al-Kharafi & Sons Company.
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