THE KUWAIT CONSTRUCTION EQUIPMENT MARKET SIZE WAS VALUED AT USD 306 MILLION IN 2021 AND IS EXPECTED TO REACH USD 450.4 MILLION BY 2028, GROWING AT A CAGR OF 5.76% DURING 2022-2028.

Kuwait Construction Equipment Market Research Report includes segments by

  • Earthmoving Equipment: Excavator, Backhoe Loaders, Motor Graders, Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
  • Material Handling Equipment: Crane, Forklift & Telescopic Handlers, and Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
  • Road Construction Equipment: Road Rollers and Asphalt Pavers
  • End Users: Construction, Manufacturing, Mining, and Others

The Industry Analysis Report Provides Industry Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast 2022-2028

Licence Types What are these?
GET ACTIONABLE INSIGHTS ON HOW COVID-19 IS IMPACTING YOUR BUSINESS
Enquire Now Download Free Sample

Most Exhaustive Report

icon-pages

109 Pages

icon-table

18 Tables

icon-chart

60 Charts

icon-region

1 Regions

icon-country

1 Countries

icon-company

20 Companies

icon-market

4 Market Segment

KUWAIT CONSTRUCTION EQUIPMENT MARKET REPORT SCOPE

Report Attribute Details
Market Size (2028) USD 450.4 Million
Market Size (2021) USD 306 Million
CAGR (2022-2028) 5.76%
Base Year 2021
Historic Year 2019-2020
Forecast Year 2022-2028
TYPE Earthmoving Equipment, Road Construction Equipment, and Material Handling Equipment
END-USERS Construction, Manufacturing, Mining, and Others
KEY VENDORS Hitachi Construction Machinery, Liebherr, Caterpillar, Zoomlion, XCMG, SANY, Hyundai Construction Equipment, Volvo, JCB, and Kobelco

MARKET INSIGHTS

The Kuwait construction equipment market was valued at USD 306 million by 2021 and is expected to reach USD 450.4 million by 2028, growing at a CAGR of 5.76% from 2022 to 2028. Construction equipment are specially designed machinery used to perform construction operations. The Kuwait construction equipment market share by units is expected to reach 7,383 by 2028. The growth in the construction equipment market is majorly driven by the increase in government investment in infrastructure & renovation projects, the boost given by the demand by the oil sector, and Kuwait's construction plans to expand its power generation capacity in wind and solar parks.

KEY INDUSTRY INSIGHTS

  • Covid-19 triggered the Kuwait construction equipment market cost due to a surge in construction material prices, labor shortages, and transportation expenses. The material price increased due to the international producers increased exporting prices with the importation crisis of the pandemic.
  • The earthmoving segment has the largest share in Kuwait Construction equipment. The excavators held the largest share in the earthmoving segment in 2021. The surge in civil engineering & housing projects in 2021 expects to support the demand for excavators in Kuwait.
  • In 2021, Kuwait's government increased the energy and climate infrastructure project investment. The government has also shifted its focus on renewable & nuclear energy resources and planned to invest $20 billion in upgrading the renewable energy industry by 2030. The surge in renewable energy projects triggers the demand for excavators & cranes in the Kuwait market.
  • The rise in government investment in warehouse & logistics infrastructure supports the growth of the country's logistics & transport industry in 2021. There is significant demand for forklifts in the Kuwait market during the forecast year due to the growing logistics & warehouse industry.
  • The economic activity in Kuwait will return to the pre-pandemic level by 2023. The Kuwaiti economy is expected to increase by 5.8% in 2022. And about 3.8% in 2023, supported by the growth of the construction oil and gas sector.

MARKET TRENDS AND DRIVERS

Rising In Infrastructure Stimulates Economic Recovery

Kuwait has approved more than $60 billion for infrastructure, health, environment, and power projects, with 5% of partnerships with the private sector in 2022. The projects include 14 major public projects with a total value of approximately $59 billion and four partnership projects worth nearly $3.2 billion. The projects comprise mainly the airport expansion, development of Silk City- island development, trans-Kuwait rail network and rail link with nearby Gulf countries, Malta City, and the Clean Fuel Project, which are expected to contribute 2.5% of the country's GDP collectively.

In addition, Kuwait has permitted funding of $6.8 billion for developing a residential project, South Saad Al Abdullah Town, along with renovating the historic marketplace Souq Al Mubarakiya. According to World Bank, Kuwait is the second fastest growing GDP after Saudi Arabia in the Middle Eastern region.

Expansion of Renewable Energy Capacity

According to the Ministry of Electricity and Water, by 2030, the country's energy demand will increase significantly. Oil remained the country's most prominent power source and accounted for 65.5% of its total output in 2020. However, it is expected that Kuwait will boost the use of natural gas in place of oil for power production over the medium-to-long term as the government attempts to free up more of the country's oil reserves for export.

In 2019, Kuwait Renewable Energy Prediction System (KREPS) had a stated national goal of 15% renewable energy generation by 2030. The government planned to build a 5GW solar power complex in the country's north. In addition, solar capacity is planned installed capacity at Shagaya by 2030 with an investment of USD 20 million.

Growth in Housing & Airport Projects Supports the Demand for Flat Top Tower Cranes

Kuwait's Public Authority for Housing Welfare awarded a housing projects contract of $227.2 million to the Chinese firm First Group Company in 2021. The country's real estate sector is expected to have strong growth due to government investment in long-term developments across the region, such as the expansion of South Saad Al Abdullah New City.

The surge in real estate & public infrastructure projects supports the demand for tower cranes in the region. For instance, Zoomlion exports eight large tonnage flat-top tower cranes from China to construct Kuwait International Airport's new terminal. The flat-top tower crane provides a high lifting capacity & long boom length, which makes it suitable for hoisting heavy prefabricated concrete components. Other major OEMs in the region, such as XCMG, Liebherr, Hyundai construction machinery, & SANY, are expected to upgrade the existing tower crane to capture the growing demand for tower cranes in the region.

KUWAIT GOVERNMENT INITIATIVES

A surge in Investment in Public Infrastructure & Renovation Projects

The government has planned to invest $65 billion in infrastructure projects, including health, power, road, and railways. The government also increased the funding for housing sectors, and various housing renovation projects are planned in the regions like Souq Al Mubarakiya region of the country. A major railway project is scheduled to link all six Gulf Council member states in Eastern Arabia. The project is estimated to be worth $250 billion and is expected to complete by 2023. In addition, redevelopment projects such as Kuwait International Airport Expansion worth $ 4,265 million are under progress in 2022. Such significant support measures by the government have supported the growth of Kuwait construction equipment market. Apart from this government has planned to improve road connectivity across the country for fast transit.

The government's Waste Management Strategy Program is expected to positively impact the Demand for Excavators.

In 2021, the Kuwait government invested $147.9 million in waste management. Developing an effective waste management system is the core of the circular economy to improve waste recycling and resource recovery, reduce solid waste, and encourage efficient use, reuse, and repair. 

Similar waste management facilities are expected to be developed in several locations by the government under the waste management strategy program. And this, in turn, is expected to give growth to the Kuwait construction equipment market by the impact the demand for excavators and loaders for handling waste.

MARKET RESTRAINTS

Increasing Building material prices & Labour shortage Hamper Infrastructure Projects.
There is a continuous rise in building material prices in the country's market. In 2020, building material prices increased by 5%, but in 2022, the prices surged by more than 25%. Rising building material adversely impacted the country's real estate sector. For instance, in 2022, New residential projects such as Mutlaa and West Abdullah Al- Mubarak are highly affected by the increasing building material prices. The prices of iron, steel, cement & wood increased by 28% in 2022.

VENDOR LANDSCAPE

  • Zoomlion, Hyundai Construction Machinery, Liebherr, & Caterpillar are the Kuwait construction equipment market leaders, accounting for 24.7% of the market share in 2021.
  • Hitachi Construction Machinery focuses on expanding the sales of mining machines in the region where their high availability of hard rocks such as iron ore, copper, & nickel. Also, the company is strengthening its R&D and training its employees to provide customers with excellent service.
  • Caterpillar acquired Tangent Energy Solution, US-based energy–as–a–Service (EaaS) company, to reduce energy costs, energy efficiency, and emissions & provide resiliency for customer operation.
  • Kobelco focuses on using automation and digitalization of its product to improve the construction worker's productivity. The company has specialized in producing excavators, cranes, and spare parts construction equipment.
  • Prominent vendors in the Kuwait construction equipment market include Hitachi Construction Machinery, Liebherr, Caterpillar, Zoomlion, XCMG, SANY, Hyundai Construction Equipment, and Volvo Construction Equipment, JCB, & Kobelco.

Frequently Asked Questions

What is the growth rate of the Kuwait construction equipment market?

Kuwait construction equipment market size is expected to grow at a CAGR of 5.76% in the forecast period.

What is the expected number of construction equipment units sold by 2028 in the Kuwait?

The Kuwait construction equipment market can witness the sale of around 7,383 units by 2028.

How big will be the Kuwait construction equipment market size by 2028?

Kuwait construction equipment market size is estimated to reach USD 450.4 million by 2028.

Who are the key players in the Kuwait construction equipment market?

Caterpillar, Volvo, Liebherr, Komatsu, CNH Industrial, Hitachi, JCB, Xuzhou Machinery Group Co., Ltd. (XCMG), Kubota, and SANY are the key players in the Kuwait construction equipment market.

What are the trends in the Kuwait construction equipment market?

An increase in government investment in the infrastructure & renovation projects and the rising demand for construction equipment by the oil sector are the trends boosting the demand for construction equipment in Kuwait.

Download Free Sample

The Kuwait construction equipment market is expected to grow at a CAGR of approximately 5.76% from 2022 to 2028.

The following factors are likely to contribute to the growth of the Kuwait construction equipment market during the forecast period:

  • Increase In Government Investment in Infrastructure & Renovation Projects
  • The Oil Sector Is Expected to Boost the Demand for Construction Equipment Till 2040
  • Kuwait Has Been Planning to Expand Its Power Generation Capacity in The Wind and Solar Parks

Base Year: 2021

Forecast Year: 2022-2028

The report considers the present scenario of the Kuwait construction equipment market and its market dynamics for 2022−2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Key Vendors

  • Hitachi Construction Machinery
  • Liebherr
  • Caterpillar
  • Zoomlion
  • Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
  • SANY
  • Hyundai Construction Equipment
  • Volvo
  • JCB
  • Kobelco

Other Prominent Vendors

  • Terex corporation
  • Tadano
  • Liu Gong
  • CASE Construction

Distributors Profiles

  • Mohamed Abdulrahman Al-Bahar’s Machinery
  • Arab Group for Equipment and Construction (AGECO)
  • Alghanim Equipment
  • EMDAD Equipment
  • EQUIP
  • Masaha Heavy Equipment

Segmentation by Type

  • Earthmoving Equipment:
    • Excavator
    • Backhoe Loaders
    • Motor Graders
    • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
  • Material Handling Equipment
    • Crane
    • Forklift & Telescopic Handlers
    • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
  • Road Construction Equipment
    • Road Rollers
    • Asphalt Pavers
  • End Users
  • Construction
  • Manufacturing
  • Mining
  • Others

Section 1 – Introduction
• Market Snapshot
• Executive Summary

Section 2 – The Market Overview
Economic Scenario, Foreign Direct Investment

Section 3 – Kuwait Construction Equipment (Type & Application)
   3.1 Kuwait Construction Equipment Market by Type (Volume & Value)
 3.1.1. Earth Moving Equipment
1. Excavator
2. Backhoe Loader
3. Motor Grader
4. Other Earth Moving Equipment (Other Loaders, Bulldozer, Trencher, etc.)    
3.1.2.  Material Handling Equipment
      1.  Crane
      2.  Forklift and Telescopic Handler
      3. Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)   
3.1.3.  Road Construction Equipment
      1.  Road Rollers
      2.  Asphalt Paver
3.2 Kuwait Construction Equipment Market by Application (Volume & Value)
      1. Construction
      2. Mining
      3. Manufacturing
      4. Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management, etc)     

Section 4: Market Dynamics
Market Drivers, Restraints, Trends, Advantage Kuwait, Key Economic Regions, Import/Export Trends, Supply Chain Analysis, COVID-19 Impact

Section 5: Technology Development
 Advent of Technology

Section 6 – Competitive Landscape
1. Competitive Landscape Overview
2. Major Vendors (Caterpillar | Volvo Construction Equipment| Hitachi Construction Machinery | Terex Corporation | Liebherr | Kobelco | Hyundai Construction Equipment | Liu Gong| Tadano| CASE Construction| JCB| Zoomlion| SANY| XCMG)
3. Other Prominent Vendors
4. Distributors Profile

Section 7-Quantitative Summary
Section 8 – Report Summary
1. Key Insights
2. Abbreviations
3. List of Graphs
4. List of Tables

Section 9 – Report Scope & Definition
1.   Research Methodology
2.   Research Objective
3.   Market Definition, Inclusion & Exclusion

Graph-1 Kuwait Construction Equipment Market by Volume 2019–2028 (Unit Sales)
Graph-2 Construction Equipment Market in Kuwait  by Type 2021  (% Volume Share)
Graph-3 Kuwait Construction Equipment Market by Volume 2019–2028 (Unit Sales)
Graph-4 Kuwait Construction Equipment Market by Value 2019–2028 ($ MN)
Graph-5 Kuwait Construction Equipment Market by End-User 2021 (%)
Graph-6 Kuwait Construction Equipment Market by Type 2019–2028 (Unit Sales)
Graph-7 GDP  2017–2020 ($ BN)
Graph-8 Investment in Several Sectors 2021 ($ BN)
Graph-9 FDI Inward Inflow 2018–2021 ($ BN)
Graph-10 Countries Investing in Kuwait 2020 (% share)
Graph-11 Kuwait Construction Equipment Market by Type 2019–2028 (Unit Sales)
Graph-12 Kuwait Construction Equipment Market by Type 2021 (% Volume Share)
Graph-13 Kuwait Construction Equipment Market by End-User 2019–2028 (Unit Sales)
Graph-14 Kuwait Earthmoving Construction Equipment Market 2019–2028 (Unit Sales)
Graph-15 Kuwait Earthmoving Construction Equipment Market 2019–2028 ($ MN)
Graph-16 Kuwait Excavators Construction Equipment Market 2019–2028 (Unit Sales)
Graph-17 Kuwait Excavators Construction Equipment Market 2019–2028 ($ MN)
Graph-18 Kuwait Backhoe Loaders Market 2019–2028 (Unit Sales)
Graph-19 Kuwait Backhoe Loaders Market, 2019–2028 ($ MN)
Graph-20 Kuwait Motor Graders Market 2019–2028 (Unit Sales)
Graph-21 Kuwait Motor Graders Market 2019–2028 ($ MN)
Graph-22 Kuwait Other Earthmoving Equipment Market 2019–2028 (Unit Sales)
Graph-23 Kuwait Other Earthmoving Equipment Market 2019–2028 ($ MN)
Graph-24 Kuwait Material Handling Equipment Market 2019–2028 (Unit Sales)
Graph-25 Kuwait Material Handling Equipment Market 2019–2028 ($ MN)
Graph-26 Kuwait Cranes Construction Equipment Market 2019–2028 (Unit Sales)
Graph-27 Kuwait Cranes Construction Equipment Market 2019–2028 ($ MN)
Graph-28 Kuwait Forklifts and Telescopic Handlers Market 2019–2028 (Unit Sales)
Graph-29 Kuwait Forklifts and Telescopic Handlers Market 2019–2028 ($ MN)
Graph-30 Kuwait Aerial Platforms Market 2019–2028 (Unit Sales)
Graph-31 Kuwait Aerial Platforms Market 2019–2028 ($ MN)
Graph-32 Kuwait Road Construction Equipment Market 2019–2028 (Unit Sales)
Graph-33 Kuwait Road Construction Equipment Market 2019–2028 ($ MN)
Graph-34 Kuwait Road Rollers Market 2019–2028 (Unit Sales)
Graph-35 Kuwait Road Rollers Market 2019–2028 ($ MN)
Graph-36 Kuwait Asphalt Pavers Market 2019–2028 (Unit Sales)
Graph-37 Kuwait Asphalt Pavers Market 2019–2028 ($ MN)
Graph-38 Kuwait Construction Equipment Market by Construction 2019–2028 (Unit Sales)
Graph-39 Kuwait Construction Equipment Market 2019–2028 ($ MN)
Graph-40 Kuwait Manufacturing Construction Equipment Market 2019–2028 (Unit Sales)
Graph-41 Kuwait Manufacturing Construction Equipment Market 2019–2028 ($ MN)
Graph-42 Kuwait Mining Construction Equipment Market 2019–2028 (Unit Sales)
Graph-43 Kuwait Mining Construction Equipment Market 2019–2028 ($ MN)
Graph-44 Kuwait Others Construction Equipment Market 2019–2028 (Unit Sales)
Graph-45 Kuwait Others Construction Equipment Market 2019–2028 ($ MN)
Graph-46 Import Value of Construction Equipment from Major Countries 2020 ($ Thousand)
Graph-47 Export Value of Construction Equipment to Major Countries 2020 ($ Thousand)
Graph-48 Hitachi Construction Equipment: Revenue (2018–2020) ($BN)
Graph-49 Liebherr: Total Revenue 2018–2020 (% Share)
Graph-50 Liebherr: Revenue by Region (% Share)
Graph-51 Liebherr: Total Revenue by Product Segment 2020 (% Share)
Graph-52  Caterpillar: Total Revenue 2018–2021 ($ BN)
Graph-53  Caterpillar: Breakdown of Sales by Region 2021 (% share)
Graph-54 Caterpillar: Breakdown of Sales by Segment in 2021 (% share)
Graph-55 Zoomlion: Total Revenue 2018–2021 ($BN)
Graph-56 Hyundai Construction Equipment Revenue 2018–2021 ($BN)
Graph-57 Volvo: Revenue 2018–2020 ($BN)
Graph-58 Volvo: Breakdown of Sales by Segment 2020 (% share)
Graph-59 Volvo: Breakdown of Sales by Segment 2020 (% share)
Graph-60 Kobelco: Net Sales (2017–2020) ($ BN)

LIST OF TABLES:

Table-1 Number of FDI Projects by Sectors
Table-2 Major Residential Projects
Table-3 Upcoming Major Power & Water Projects
Table-4 List of Projects for Warehouse Capacity Expansion
Table-5 Infrastructure Projects in Logistics Sector
Table-6 Upcoming Major Infrastructure Projects in Kuwait
Table-7 Kuwait Construction Equipment Market by Volume 2019–2028
Table-8 Kuwait Construction Equipment by Type 2019–2018
Table-9 Kuwait Earthmoving Equipment Market Size & Forecast by Type (Volume, Units)
Table-10 Kuwait Material Handling Equipment Market Size & Forecast by Type (Volume, Units)
Table-11 Kuwait Road Construction Equipment Market Size & Forecast by Type (Volume, Units)
Table-12 Kuwait Construction Equipment Market Size & Forecast by End-User(Units)
Table-13 Kuwait Construction Equipment Market by Value 2019–2028
Table-14 Kuwait Construction Equipment by Type 2019–2018
Table-15 Kuwait Earth Moving Equipment Market Size & Forecast by Type (Value, $MN)
Table-16 Kuwait Road Construction Equipment Market Size & Forecast by Type (Value, $MN)
Table-17 Kuwait Material Handling Equipment Market Size & Forecast by Type (Value, $MN)
Table-18 Kuwait Construction Equipment Market Size & Forecast by End-User

Select a license type that suits your business needs

single-user Single User Licence
$1760.00
  • Report accessible by one user only
  • Free 10% or 3 days of customization
  • Free post-sale service assistance
  • Continuous support through email
Best Value Tag
5-user 5 User Licence
$2000.00
  • Report accessible by 5 users within the organization
  • Free 15% or 4.5 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
corporate.png Corporate Licence
$2400.00
  • Free Datasheet worth $1500
  • Report accessible by the entire organization
  • Free 20% or 6 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Direct access to lead analysts
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
datasheet.png Datasheet Licence
$1200.00
  • Report accessible by 1 user only
  • Free 15% or 32 hours of customization
  • Free post-sale service assistance
  • Direct access to lead analysts

Our Clients

20%

Off

OFF

DAYS

HOURS

MINUTES

SECONDS

Licence Types What are these?

Interested in data center portfolio for this report?
Click here

Our Clients Speak

erick

"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."

Erik Young
CEO, Co-founder
Audink Inc., DBA Audios
SPEAK WITH OUR ANALYST

Want to know more about the report or any specific requirement?

Click to Email +1-312-235-2040

Want to Customize the Report?

Click Here

Why Arizton?

  • 100% Customer Satisfaction
  • 24x7 availability – we are always there when you need us
  • 200+ Fortune 500 Companies trust Arizton's report
  • 80% of our reports are exclusive and first in the industry
  • 100% more data and analysis
  • 1000+ reports published till date