Kuwait Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Kuwait Construction Market Report Overview
The Kuwait construction market size was $17.2 billion in 2023. The market is projected to achieve an AAGR of more than 3% during 2025-2028. The growth of the market is attributed to investment in renewable energy, transport, electricity, housing, and sports facilities, coupled with investment as a part of the New Kuwait 2035 National Development Plan.
Kuwait Construction Market Outlook, 2023-2028 ($ Billion)
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The Kuwait construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence the Kuwait construction market growth in the coming years.
Market Size (2022) | $17.2 billion |
AAGR (2024-2027) | >3% |
Forecast Period | 2023-2028 |
Historical Period | 2019-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
Key Contractors | · Shanghai Electric Group Corp
· Limak Holding Inc · Combined Group Contracting Co · Real Estate Construction and Fabrication Co · Larsen & Toubro Ltd |
Key Consultants | · SSH International
· WSP Global Inc · KEO plc · Gulf Consult · Pan Arab Consulting Engineers |
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Kuwait Construction Market Segmentation by Sectors
Energy and Utilities Construction was the leading sector in the Kuwait construction market in 2023
The key sectors in the Kuwait construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The investment in hotel, retail, and office projects in line with the country’s Vision 2035 strategy will drive the sector’s growth.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. The government’s focus on diversifying the country’s economy and boosting exports will drive the sector’s growth during the forecast period.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The government’s focus is on the development of the country’s transport infrastructure will support the sector’s growth over the forecast period.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The investment in the renewable sector will drive the sector growth between 2024 and 2027.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The investment in the health, education, and research sectors will fuel the growth of the institutional construction sector in the forecast period.
Residential construction: The project types in this sector include single-family housing and multi-family housing. Government initiatives to develop affordable housing will drive the sector growth over the forecast period. The government’s effort to implement the Kuwait Vision 2030 plan will also drive the market.
Kuwait Construction Market Analysis by Sectors, 2023 (%)
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Kuwait Construction Market - Competitive Landscape
Shanghai Electric Group Corp emerged as the leading contractor and SSH International as the leading consultant in the Kuwait construction market in 2023
A few of the leading contractors in the Kuwait construction market are:
- Shanghai Electric Group Corp
- Limak Holding Inc
- Combined Group Contracting Co
- Real Estate Construction and Fabrication Co
- Larsen & Toubro Ltd
In Kuwait, foreign and domestic contractors account for an equal share of the total project pipeline, for which a contract had been awarded.
Kuwait Construction Market Analysis by Contractors, 2023 (%)
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A few of the leading consultants in the Kuwait construction market are:
- SSH International
- WSP Global Inc
- KEO plc
- Gulf Consult
- Pan Arab Consulting Engineers
Consultants with headquarters within Kuwait are involved in most of the project pipeline by value.
Kuwait Construction Market Analysis by Consultants, 2022 (%)
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Kuwait Construction Market - Latest Developments
- In January 2024, the government reported that the construction work on the Al-Shadadiya industrial zone located in the south of Kuwait City is in full swing and is expected to be completed by May 2024. This industrial zone is being developed on an area of 5.8 million m2 and will include 1,096 industrial units.
- In March 2024, the Public Authority for Housing Welfare (PAHW) reported that it had received bids from 21 companies for the construction of road and infrastructure networks in the South Sabah Al Ahmed township project in Al Asimah Governorate.
Segments Covered in the Report
Kuwait Construction Sectors Outlook (Value, $ Billion, 2019-2028)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides:
- A comprehensive analysis of the construction industry in Kuwait.
- Historical and forecast valuations of the construction industry in Kuwait, featuring details of key growth drivers.
- Segmentation by sector 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
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Figures
Frequently asked questions
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What was the Kuwait construction market size in 2023?
The construction market size in Kuwait was $17.2 billion in 2023.
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What will the Kuwait construction market growth rate be during the forecast period?
The construction market in Kuwait is projected to achieve an AAGR of more than 3% during 2025-2028.
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Which was the leading sector in the Kuwait construction market in 2023?
Energy and utilities construction was the leading sector in the Kuwait construction market in 2023.
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Which are the leading contractors in the Kuwait construction market?
The leading contractors in the Kuwait construction market are Shanghai Electric Group Corp, Limak Holding Inc, Combined Group Contracting Co, Real Estate Construction and Fabrication Co, and Larsen & Toubro Ltd among others.
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Who are the leading consultants in the Kuwait construction market?
The leading consultants in the Kuwait construction market are SSH International, WSP Global Inc, KEO plc, Gulf Consult, and Pan Arab Consulting Engineers among others.
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