The analyst expects Kuwait’s construction industry to decline by 1.5% in real terms in 2026, owing to severe economic disruption caused by the ongoing conflict in the Middle East. In February 2026, the Cabinet approved the draft budget submitted by the Ministry of Finance earlier in the same month for Fiscal Year (FY) 2026-27 (1st April 2026 to 31st March 2027). On April 1 2026, the Ministry of Finance reported that the budget includes total expected revenue of KWD16.3 billion ($53.2 billion), marking a 10.5% decline from FY2025-26. Earlier, in February 2026, the Ministry formed the draft budget based on the oil price estimate of KWD17.5 ($57) per barrel. Later in the same month, the Ministry said that the breakeven price of oil must be KWD27.8 ($90.5). Although the current oil price per barrel is hovering over KWD30.7 ($100) which is far more than the desired breakeven price of KWD27.8 ($90.5), the sales figures of oil is expected to remain low due to the closure of Strait of Hormuz. As a result, the impact on oil revenue remains somewhat equivocal. This is expected to affect the 2026’s total revenue of the government. This is likely to lead to a slowdown in execution of government funded projects in 2026-27. Notably, the Strait of Hormuz is responsible for transporting roughly 20% of global oil and liquefied natural gas shipments, making it one of the most critical maritime trade corridors in the global energy system. Also, delays in approval and execution of projects are expected to stem from uncertainties surrounding ongoing Middle East conflict.
Over the remainder of the forecast period, between 2027 and 2030, the construction industry’s output is expected to grow at an annual average rate of 4.9%, supported by investments in oil and gas, renewable energy and transport infrastructure sectors. Kuwait is advancing long term plans for green hydrogen development, targeting up to 25GW of hydrogen production capacity by 2050, with renewable energy projects expected to supply clean electricity for hydrogen production aimed at domestic industrial use and export markets. Growth over the forecast period will also be supported by the Kuwait's state-owned oil company Kuwait Petroleum Corporation’s 2040 strategy, which plans to increase oil production in the country from 2.8 million barrels per day (bpd) in 2024 to 4 million barrels per day (bpd) by 2035, with an investment of KWD9.2 billion ($30 billion). In line with this, the Kuwait Petroleum Corporation plans to invest KWD3.1 billion ($10 billion) annually over the next five years to reach its production target of up to 3.2 million barrels per day (bpd) by 2029. Also, the housing sector is expected to be bolstered by investments amid rising demand for new housing units. According to Ministry of State for Housing Affairs, the number of applicants for new housing units is expected to reach 197,244 by the year 2035 compared to 105,000 applications in September 2025.
Over the remainder of the forecast period, between 2027 and 2030, the construction industry’s output is expected to grow at an annual average rate of 4.9%, supported by investments in oil and gas, renewable energy and transport infrastructure sectors. Kuwait is advancing long term plans for green hydrogen development, targeting up to 25GW of hydrogen production capacity by 2050, with renewable energy projects expected to supply clean electricity for hydrogen production aimed at domestic industrial use and export markets. Growth over the forecast period will also be supported by the Kuwait's state-owned oil company Kuwait Petroleum Corporation’s 2040 strategy, which plans to increase oil production in the country from 2.8 million barrels per day (bpd) in 2024 to 4 million barrels per day (bpd) by 2035, with an investment of KWD9.2 billion ($30 billion). In line with this, the Kuwait Petroleum Corporation plans to invest KWD3.1 billion ($10 billion) annually over the next five years to reach its production target of up to 3.2 million barrels per day (bpd) by 2029. Also, the housing sector is expected to be bolstered by investments amid rising demand for new housing units. According to Ministry of State for Housing Affairs, the number of applicants for new housing units is expected to reach 197,244 by the year 2035 compared to 105,000 applications in September 2025.
The Construction in Kuwait - Key Trends and Opportunities to 2030 (H1 2026) report provides detailed market analysis, information, and insights into Kuwait's construction industry, including:
- Kuwait's construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Kuwait's construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in the Kuwait. It provides:
- Historical (2021-2025) and forecast (2026-2030) valuations of the construction industry in the 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
Reasons to Buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level with over 600 time-series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
1 Female Fragrances Market Overview
2 The United States of America Female Fragrances Market Analytics, 2019-29
3 The United States of America Female Fragrances Market Analytics, by Segment 2019-29
4 The United States of America Female Fragrances Brand Analytics by Value, 2021-24
5 The United States of America Female Fragrances Distribution Channel Analytics by Value, 2021-24
6 Appendix
List of Tables
List of Figures
