Market Research Reports, Inc. has announced the addition of “Construction in Kuwait – Key Trends and Opportunities to 2018” research report to their website http://www.MarketResearchReports.com
Lewes, DE -- (SBWIRE) -- 01/14/2015 -- This report provides detailed market analysis, information and insights into the Kuwaiti construction industry, including:
- The Kuwaiti 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 in 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
- Profiles of the leading operators in the Kuwaiti construction industry.
- Data highlights of the largest construction projects in Kuwait
The Kuwaiti construction industry registered a compound annual growth rate (CAGR) of 9.30% during the review period (2009–2013). This growth was supported by increased government spending on the country's residential, infrastructure and commercial construction projects. The residential and infrastructure construction markets drove growth, as a result of the government's diversification plan and 2015–2020 development plan. The industry is projected to record a forecast-period CAGR of 7.70%. Public-private partnership (PPP) initiatives and an increase in public investment will drive industry expansion, leading to the construction of more residential properties, roads, bridges, office buildings and power plants.
This report provides a comprehensive analysis of the construction industry in Kuwait. It provides:
- Historical (2009-2013) and forecast (2014-2018) 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
- Detailed profiles of the leading construction companies in Kuwait
Reasons to Buy:
- Identify and evaluate market opportunities using Publisher's standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level via review data, and forecasts at category and country level
- Understand the latest industry and market trends
- Formulate and validate business strategies by leveraging our critical and actionable insight
- Assess business risks, including cost, and competitive pressures
- The Kuwaiti construction industry's growth peaked at an annual rate of 23.2% (in nominal terms) in 2010, after rebounding from the downturn in 2009. However, growth declined again during 2011–2013, at rates of 5.9%, 4.8% and 4.4% respectively. Over the forecast period, the industry is expected to recover due to affordable housing construction and planned infrastructural investments. Public sector investments in energy, residential and transport infrastructure are expected to be the key drivers for the industry's growth over the forecast period.
- Construction is one of the most important industries in Kuwait's economy, accounting for 1.7% of GDP in 2013. According to the Central Statistical Bureau (CSB), the construction industry's gross value added at constant prices rose by 3.2%, from KWD832.7 million (US$3.0 billion) in 2012 to KWD860.4 million (US$3.0 billion) in 2013, driven by government efforts to diversifying the country into a non-oil economy. This growth was supported by government investments to improve the country's infrastructure, education and healthcare, and build affordable homes to meet rising demand. The forecast-period outlook for construction is anticipated to be positive, due to new projects from the private sector, and increased demand for residential, commercial and infrastructure projects.
- In 2010 the Kuwaiti Parliament approved the Kuwait Development Plan to 2035, with a vision to establish the country as a financial and trade hub in the region. This plan includes the five consecutive development plans for each five-year period, with the first plan valued at KWD31.0 billion (US$108.2 billion) and implemented during 2010–2014. The plan aims to enhance economic diversification by developing the private sector and implementing a number of reforms. These include reducing red tape, improving access to land, expanding the energy and transport sectors, upgrading the education and healthcare systems, and protecting the environment. In August 2014, a new development plan for 2015–2020 was approved, which included projects that were delayed in the previous plan.
- The research facilities category received significant investment during the review period. According to the Kuwait Foundation for the Advancement of Sciences (KFAS), a budget of KWD13.0 billion (US$45.8 billion) was allocated for research projects. The stimulus spending will enhance social projects and play a vital role in stimulating the country's wider economic activity in terms of research and innovation.
- A series of infrastructure projects will be launched over the forecast period to improve roads, airports, railways, water and power supplies, which will ultimately lead to an all-round development and modernization of the country's infrastructure. In 2014, the Kuwaiti government allocated KWD5.0 billion (US$17.5 billion) for the infrastructure construction projects. The main projects include the redevelopment of Kuwait international Airport (KIA), the Kuwait National Rail Road System, and the metro project.
- In 2012, the government implemented measures to provide greater access to home loans for nationals. Housing loans for Kuwaiti women have increased from KWD45,000 (US$160,742) to KWD70,000 (US$250,044) in 2012 and by the end of 2013 increased further to KWD100,000 (US$351,600). Mortgage facilities will also help citizens with private funding for government housing, to own a property and upgrade existing ones. This has strengthened citizens' purchasing power and increased demand for housing.
Spanning over 69 pages, "Construction in Kuwait – Key Trends and Opportunities to 2018" report covering the Executive Summary, Market Overview, Commercial Construction, Industrial Construction, Infrastructure Construction, Institutional Construction, Residential Construction, Company Profile: Mushrif Trading & Contracting Co. KSCP, Company Profile: Mabanee Company SAK, Company Profile: The Kuwait Company for Process Plant Construction & Contracting KSC, Company Profile: Kharafi National, Company Profile: Mohammed Abdulmohsin Al-Kharafi & Sons Company, Market Data Analysis, Appendix. The report covered companies are - Mushrif Trading & Contracting Co. KSCP, Mabanee Company SAK, The Kuwait Company for Process Plant Construction & Contracting KSC, Kharafi National, Mohammed Abdulmohsin Al-Kharafi & Sons Company
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