Construction in Kuwait - Key Trends and Opportunities to 2024: Industry to Contract by 9.5% in 2020 Due to COVID-19 - ResearchAndMarkets.com

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The "Construction in Kuwait - Key Trends and Opportunities to 2024" report has been added to ResearchAndMarkets.com's offering.

Prior to the Coronavirus (COVID-19) outbreak, Kuwait's construction industry was struggling, with output declining by 7.0% in real terms in 2019 owing to weakness in energy and civil engineering work.

Amid the worsening situation with regards to the COVID-19 outbreak, the publisher expects the construction industry to contract by 9.5% in 2020. The negative outlook is weighed down by lower oil prices and the prospect of a higher fiscal deficit, compromising the government's capital spending on construction and infrastructure.

Construction activities have been affected by the temporary suspension of work, in line with the government's efforts to combat the outbreak by restricting non-essential activities. According to the Kuwait Business Impact Survey, released by Bensirri PR (BPR), approximately 39% of businesses in the construction sector have shut down their operations since the government implemented lockdown measures in the country.

Kuwait's priority over the forecast period will be to fast-track economic reforms and diversify the economy away from its dependence on hydrocarbons. These plans are part of the country's long-term New Kuwait 2035 National Development Plan. However, progress on implementing the plan has been slow, partly because of political tensions between the government and the parliament, and partly because of an incompetent bureaucratic environment, which constitute a challenge when pursuing mega infrastructure projects

Scope

  • Historical (2015-2019) and forecast (2020-2024) 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

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-glance

3 Context

3.1. Economic Performance

3.2. Political Environment and Policy

3.3. Demographics

3.4. COVID-19 Status

4 Construction Outlook

4.1. All Construction

4.1.1. Outlook

4.1.2. Latest news and developments

4.1.3. Construction Projects Momentum Index

4.2. Commercial Construction

4.3. Industrial Construction

4.4. Infrastructure Construction

4.5. Energy and Utilities Construction

4.6. Institutional Construction

4.7. Residential Construction

5 Key Industry Participants

5.1. Contractors

5.2. Consultants

6 Construction Market Data

7 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/o3wunv

View source version on businesswire.com: https://www.businesswire.com/news/home/20201030005518/en/

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