Kuwait Construction and Infrastructure Market to Exhibit Impressive Growth During 2020-2026
April 4, 2020, Source: Ventures Onsite, Orbis
Recently published report on Kuwait Construction and Infrastructure Market suggest increasing government expenditure towards sustainable infrastructure development with continued investment in energy-efficient and environmentally sustainable assets is promoting the market demand for Kuwait Construction and Infrastructure companies. The government is also encouraging companies that emphasize on technological advancements and standardizing modern methods of construction.
Trending Projects in Kuwait:
Major Projects in Kuwait:
Globally, industrialization and urbanization trends are propelling the demand for client-driven Construction and Infrastructure activities and augmenting demand for investment in railways, roads, ports, power transmission, and water utilities. Growing demand for Building Information Modelling, Modular construction, and building materials industry is being observed across the Kuwait Construction and Infrastructure market. Estimated construction and infrastructure growth of 6% CAGR is forecast globally between 2019 and 2026.
Investment in large-scale infrastructure projects is one of the key strategies of Kuwait to fuel economic growth. The government's effort to improve the country's infrastructure to sustain growth in the manufacturing sector and expand municipal utilities will contribute to the growth in construction spending. Rising personal income levels, household growth, and population migration from rural to urban areas will augment the need for better construction facilities and road infrastructure developments in the country.
Increasing public investments into Kuwait’s commercial construction sectors will be a key market opportunity for the companies operating in the construction and infrastructure industry. The presence of a huge customer base is resulting in strong FDI (foreign direct investment) inflows into the country. Further, increasing investments in real estate and infrastructure sectors result in the growth of construction activities.
The 2019 Construction and Infrastructure Market research identifies that the competition continues to intensify year-on-year with emerging applications. This LNG Analysis report covers the 2019 scenario and growth prospects of the Kuwait Construction and Infrastructure Market for 2020-2026. To calculate the market size, revenue from the market sales of Construction and Infrastructure materials to retailers, wholesalers, and institutional buyers is considered.
The global Construction and Infrastructure Market is poised to grow robustly over the forecast period 2020-2026. The ongoing trend towards modernization of Construction and Infrastructure through renovation projects, new building construction, and other civil projects are supporting Kuwait to strengthen its Construction and Infrastructure Market size.