Dublin, May 31, 2021 (GLOBE NEWSWIRE) -- The "Kuwait Facility Management Market Research Report: By Service, End User, Mode, Type - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Kuwait market revenue is predicted to increase from $958.2 million in 2019 to $2,057.5 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 8.3% between 2020 and 2030.
With the rapid expansion of the hospitality industry, the demand for facility management services is growing explosively in Kuwait. The flourishing tourism sector is generating huge demand for clean premises, which is, in turn, pushing up the requirement for facility management services and solutions in the country. Moreover, the government is launching initiatives and taking measures such as encouraging investments from private players, expanding the capacities of airports, and developing new attractions for boosting the tourism industry.
The commercial category will account for the highest revenue share in the Kuwait facility management market in the forthcoming years, because of the mushrooming requirement for clean and attractive facilities in order to attract a large number of visitors/customers. Moreover, the country is observing the launch of extensive programs aimed at the expansion of commercial centers, hotels, and malls. This will push up the requirement for facility management services in the coming years.
Depending on service, the market is categorized into cleaning, property, catering, security, environmental management, and support. Amongst these, the property category will record the highest growth in the market in the future, due to the various benefits offered by property management organizations such as the utilization of advanced technology and software for reducing the maintenance costs. Based on the type of property services, the industry is divided into mechanical and electrical maintenance and heating, ventilation, and air conditioning (HVAC) maintenance.
Out of these, the HVAC maintenance services will demonstrate the fastest growth in the Kuwait facility management market in the forthcoming years.
It is safe to say that the demand for facility management services will soar in Kuwait in the future years, primarily because of the rapid expansion of the tourism and hospitality sectors in the country.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Service
4.1.1.1 Property
4.1.1.1.1 HVAC maintenance
4.1.1.1.2 Mechanical & electrical maintenance
4.1.1.1.3 Others
4.1.1.2 Cleaning
4.1.1.3 Security
4.1.1.4 Catering
4.1.1.5 Support
4.1.1.6 Environmental management
4.1.1.7 Others
4.1.2 By End User
4.1.2.1 Commercial
4.1.2.2 Industrial
4.1.2.3 Residential
4.1.3 By Mode
4.1.3.1 In-house
4.1.3.2 Outsourced
4.1.3.2.1 Integrated
4.1.3.2.2 Bundled
4.1.3.2.3 Single
4.1.4 By Type
4.1.4.1 Hard
4.1.4.2 Soft
4.1.4.3 Others
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Economic diversification
4.2.2 Drivers
4.2.2.1 Growing hospitality industry
4.2.2.2 Upcoming infrastructure projects
4.2.2.3 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Lack of competent professional resources
4.2.3.2 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Kuwait Vision 2035
4.2.4.2 Increasing demand for outsourced facility management services
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
Company Profiles
- Kharafi National for Infrastructure Projects Developments Construction and Services S.A.E
- O&G Engineering W.L.L.
- Fawaz Trading & Engineering Services Co. W.L.L.
- EcovertFM Kuwait
- Al Mazaya Holding Company
- Al-Awsat United Real Estate Co.
- R&E Petroleum Co.
- Refrigeration Industries & Storage Company
- PIMCO
- United Facilities Management
- AL Mulla Group Holding Company K.S.C.C.
- Gulf Engineering Company K.S.C.C.
- Kazema Global Holding K.S.C.H.
- Universal Technical Co.
- Alghanim International
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