Arizton publishes the latest research report, Kuwait elevator and escalator market size & growth forecast 2023-2029. The market is growing at a CAGR of 3.68% during the forecast period.
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Kuwait’s Tourism and Infrastructure Projects Boost the Demand for New Installations
- With an investment of around USD 4.42 billion (KD 1.250 billion), The Ministry of Health and Public Works announced a project to replace or expand nine operating hospitals (five general and four specialized hospitals) in the upcoming decade. The objective is to add 5,400 beds, 150 operating rooms, and 500 outpatient clinics to the current 7,095 hospital beds countrywide as of 2022. The government’s investment in the healthcare sector in Kuwait is expanding and advancing, offering international investors an opportunity to collaborate with the government on infrastructure projects and earn attractive returns on their investments.
- At Kuwait International Airport, work is nearing completion on the new T2 passenger terminal, which is scheduled to open in 2024. The forthcoming terminal is a prime example of the government’s dedication to environmental sustainability and energy efficiency. It is planned to be Leadership in Energy and Environmental Design (LEED) Gold Certified. With a capacity of 25 million passengers annually, the T2 terminal offers ease and comfort to customers. It would also enable effective operations by hosting up to 21 Airbus and A380 aircraft simultaneously, with 51 boarding gates and ample parking spaces. The project will support propelling the Kuwait elevator and escalator market growth.
- In 2022, Kuwait approved more than USD 60 billion worth of spending for infrastructure, health, environment, and energy projects, with 5% of partnerships with the private sector. The projects include 14 major public projects with an aggregate value of approximately USD 59 billion and four partnership projects worth around USD 3.2 billion. With Kuwait’s substantial investment in a wide range of infrastructure, development, and partnership projects, the demand for new installations is poised to rise significantly.
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What’s Included in the Report:
- Impact of COVID-19
- CAGR for the forecast period 2022-2029
- All types of tracked escalators and elevators.
- Elevators are used in commercial, residential, industrial, and other industries.
- Other industries for elevators include oil & gas, mining, marine, and manufacturing.
- Escalators are used in applications such as commercial, public transit, and other industries.
- Moving walkways are considered under escalators by type segment.
- Volume within the country is based on demand and supply.
- Elevators and escalators new equipment’s are exported to other countries.
Kuwait Elevator and Escalator Market Dynamics:
Need for Housing and Rise in Licensing to Driving the Demand
Upcoming Major Hospitals and Low Bed Density to Drive the Demand for Hospital Elevators
Gaining Traction of Modular Construction to Drive Kuwait Elevator Market
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Elevator Market Segmentation
- Machine Type: Hydraulic and Pneumatic, Machine Room Traction, Machine Room Less Traction, and Others (Climbing Elevators and Industrial Elevators)
- Carriage Type: Passenger and Freight
- Capacity:2-15 Persons, 16-24 Persons, 25-33 Persons, and 34 Persons and Above
- End-User: Commercial, Residential, Industrial, and Others (Public Transit, Institutional, and Infrastructural)
Escalator Market Segmentation
- Product Type: Parallel, Multi Parallel, Walkway, and Crisscross
- End-User: Public Transit, Commercial, and Others (Institutional Sector, Infrastructure & Industrial)
- TK Elevator
- Mitsubishi Electric
- Hyundai Elevator
Other Prominent Vendors
- Delmon United
- Atlas Elevators
- Modayan Elevators
- Marafie Elevators & Escalators
- Hosting Elevator
- Ahmadiah Contracting & Trading Co.
- United Elevators
Key Questions Answered in the Report:
How big is the Kuwait elevator and escalator market?
What will be the growth rate of the Kuwait elevator and escalator market?
What is the number of installed bases in the Kuwait elevator and escalator market in 2022?
What are the key opportunities in the Kuwait elevator and escalator industry?
What are the key Kuwait elevator and escalator market players?
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