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

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

Summary

The construction industry in Kuwait is expected to expand by 6.6% in real terms this year, supported by investment in the energy sector and government efforts to increase production in the oil and gas sector, coupled with investment in infrastructure development. In July 2023, the government announced a four-year development program, which included 107 major projects across various sectors. Under the plan, the government will operate several megaprojects, including the Gulf Railway project and the new Kuwait Airport Terminal 2, and increase the number of flights in and out of Kuwait from 240,000 to 650,000 by building three new runways by 2027. However, political unrest and a decline in the real estate market will pose a downside risk to the construction sector’s outlook in the short term.

GlobalData expects Kuwait’s construction industry to register an annual average growth rate of 3.9% from 2025 to 2028, supported by investment in renewable energy, transport, electricity, housing, and sports facilities, coupled with investment as a part of the New Kuwait 2035 National Development Plan. Under this, the government plans to invest over KWD350 million ($1.1 billion) in the construction of several sports projects across the country. Growth will also be supported by the government's plans to boost oil production in the country from 2.9 million barrels per day (b/d) in 2023 to 4 million b/d by 2035. In February 2024, Kuwait National Petroleum Company (KNPC) reported receiving seven bids for its planned fuel depot project in the Al Mutlaa region. This project involves an investment of KWD261.3 million ($850 million) and includes the construction of a depot, storage tanks, and a pumping facility

GlobalData’s Construction in Kuwait - Key Trends and Opportunities to 2028 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 (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.