The government of Kuwait is providing more emphasis to diversify its oil dependent economy after the fall in oil prices after 2014 thereby surging the investments in tourism and hospitality sectors. Moreover, the gradual growth in the number of greenfield investments has positively impacted the demand for facility management services. The country experiences a vast amount of investments from United States and China. Therefore, it is anticipated to boost the growth of Kuwait facility management services market in the forthcoming period.
According to MarkNtel Advisors’ research report “Kuwait Facility Management Market Analysis, 2020”, the facility management market is projected to grow at a CAGR of around 8% during 2020-25. The Kuwait Vision 2035 highlights the importance of infrastructure thereby increasing the focus towards introducing new infrastructure projects in the country. Under the Kuwait Vision 2035, two residential projects were introduced in 2019, which include South Sabah Al Ahmad residential city and South Saad Al Abdullah city. The projects are estimated to be completed by 2029. Therefore, the upcoming projects in the country would boost the demand for facility management services in the country.
The integration of advanced technologies with the facility management services has positively impacted the growth of Kuwait facility management market. The introduction of different software such as Computer Aided Facility Management (CAFM) has been beneficial for the facility management service providers. Therefore, it is anticipated to strongly contribute to the growth of facility management market, revealed by MarkNtel Advisors’ research report “Kuwait Facility Management Services Market Analysis, 2020”.
As per MarkNtel Advisors’ study, the in-house facility management services grabbed the highest share in the Kuwait facility management market in 2019. The maximum share is attributed to the low cost services. However, the inclination of end users is gradually shifting towards outsourced facility management services due to the growing focus of the businesses on their core activities. Moreover, the demand for outsourced services is more from large enterprises whereas the demand is still low in medium and small enterprises as compared to in-house facility management services.
The companies who has grabbed a substantial market share in the Kuwait facility management market include United Facilities Management (UFM), EFS Facilities Services, Al Mazaya Holding Company, Tanzifco, Kharafi National, Fawaz Group, etc.
Kuwait Facility Management Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for facility management firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type (Hard, Soft, Risk, Administrative)
2. By Service Delivery (Single Service, Bundled, Integrated)
3. By Size (Small Enterprise, Mid-Size Enterprise, Large Enterprise)
4. By End Users (Residential, Commercial, Government, Retail, Education, Healthcare, Hospitality, Others)
5. By Geographic Region (Al Asimah, Al Farwaniya, Hawalli, Al Ahmadi, Al Jahra)
6. By Competitors (United Facilities Management (UFM), EFS Facilities Services, Al Mazaya Holding Company, Tanzifco, Kharafi National, Fawaz Group, Others)
Key questions answered in the study:
1. What are the current and future trends of the Kuwait facility management market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the country?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Kuwait facility management market?
6. What are the customer orientation, purchase behavior, and expectations from the facility management companies across various regions?