The Kuwait Construction Equipment Market to Reach 7,263 Units by 2029 - Arizton

According to Arizton’s latest research report, the Kuwait construction equipment market will grow at a CAGR of 4.15% during 2022-2029.  

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Kuwait's government is investing in infrastructure development projects, including expanding airports, railway lines, roadways, and highways across the country. Under Kuwait’s National Development Plan, the government focuses on economic reform and implementing various mega projects, with several large infrastructure projects estimated at USD 124 billion. It includes several infrastructure upgrades, such as a new airport terminal valued at USD 4 billion; the development of the Mubarak Al-Kabeer Port on Boubyan Island; and many mega oil projects, including a new refinery. The surge in infrastructure development projects is expected to drive the demand for construction equipment during the forecast period. 

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Kuwait’s National Development Plan and Investments in Public Infrastructure to Propel the Demand for Construction Equipment 

• Kuwait’s National Development Plan (NDP): Kuwait’s Vision 2035 is a comprehensive set of policies, strategies, and initiatives to promote the country’s economic growth and development across various sectors.  
• The Vision has established high importance to Kuwait’s national infrastructure, with investments hitting as high as $27 billion in the bidding stage. New Kuwait will build on the recent urban development and housing momentum by introducing new master plan developments and cities.  
• Plan also aims to develop the country’s tourism sector to yield surplus revenue and create a new employment pool and plans to further enhance the country’s transportation and power sectors by building on the recent success in Independent Water and Power Plant (IWPP) and Public-Private Partnership (PPP) projects.  
• In Feb 2022, SMEC (Australian consultancy) was granted the contract to carry out upgrades on Shuwaikh Port, the largest of Kuwait’s three commercial ports just west of Kuwait City and its surrounding infrastructure. 
• Moreover, Kuwait’s Port Authority (KPA), in 2022, also announced the development of three logistics cities to serve its ports. The project has an estimated value of $400 million spread over 1.9 million square meters.  
• In Aug 2021, KPA sanctioned plans to build a complex to provide a logistics facility for global electric vehicle manufacturers. The development is intended to attract international investment and will be integrated into KPA’s extensive logistics infrastructure. 

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Vendor Landscape 

• Caterpillar, Volvo CE, Komatsu, Liebherr, Hitachi Construction Equipment, XCMG, and Zoomlion are leaders in the Kuwait construction equipment market. These companies have a strong market share and offer diverse sets of equipment. 
• In 2020, Kuwait International Airport received eight cranes (T285-120V) from Zoomlion. These cranes marked the highest tonnage tower cranes exported by China. 
• Liugong & CNH Industrial are niche market players in the market. These companies offer low product diversification and have a strong presence in Kuwait's local market. 
• SANY, Kobelco, HD Hyundai Construction Equipment & JCB are emerging in the Kuwait construction equipment industry. These companies are introducing new technologically advanced products to challenge Kuwait's market leaders' share. 
• Tadano, Terex, SDLG & Merlo Spa have low product diversification; these companies are lagging in adopting new technologies used in construction equipment. 

Prominent Vendors 

• Caterpillar 
• Komatsu 
• Xuzhou Construction Machinery Group Co. Ltd. (XCMG) 
• Liebherr 
• Volvo Construction Equipment 
• Hitachi Construction Machinery 
• Zoomlion Heavy Industry Science & Technology Co. Ltd 
• JCB 
• SANY 

Other Prominent Vendors 

• Hyundai Construction Equipment 
• Kobelco 
• Liu Gong 
• Tadano 
• CNH Industrial 
• Terex Corporation 
• SDLG 
• MERLO Group 

Distributor Profiles 

• Alghanim Equipment 
• Emdad Equipment &Oil Field Supplier 
• Arab Group for Equipment and Construction (AGECO) 
• Mohamed Abdulrahman Al-Bahar 
• EQUIP 
• RIHAM 
• Boodai Trading Company Ltd. W.L.L. 

Segmentation by Type 

• Earthmoving Equipment 
• Excavator 
• Backhoe Loaders 
• Wheeled Loaders 
• Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers) 
• Road Construction Equipment 
• Road Rollers 
• Asphalt Pavers 
• Material Handling Equipment 
• Crane 
• Forklift & Telescopic Handlers 
• Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts) 
• Other Construction Equipment 
• Dumper 
• Tipper 
• Concrete Mixture 
• Concrete Pump Truck 
• End Users 
• Construction 
• Mining 
• Manufacturing 
• Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management) 

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