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Kuwait Harbor Industry Analysis
The Marine Harbour Facilities construction projects industry in Kuwait is a critical component of the country's infrastructure, as Kuwait has a long coastline and relies heavily on its ports and harbours for trade and commerce. The industry is responsible for the construction of various marine infrastructure projects, including ports, harbours, jetties, and breakwaters.
Currently, the industry in Kuwait is experiencing growth due to the government's focus on developing the country's infrastructure. According to a report by ResearchAndMarkets.com, the Marine Harbour Facilities construction projects market in Kuwait is expected to grow at a compound annual growth rate (CAGR) of 8.2% from 2021 to 2026. The growth is attributed to the government's focus on developing the country's infrastructure, increasing investments in ports, and the growing demand for new ports and harbours.
In recent years, Kuwait has witnessed significant investments in its ports and harbours. The government has undertaken several initiatives to modernize and expand the country's ports, including the development of the Mubarak Al-Kabeer Port, which is expected to be one of the largest ports in the region. Additionally, the government is also investing in the expansion of the Shuaiba Port and the construction of the new Dibdibah Port.
The growth in the Marine Harbour Facilities construction projects industry in Kuwait has also led to an increase in competition among industry players. Major players in the market include China Harbour Engineering Company, Hyundai Engineering & Construction Co. Ltd, and Daewoo Engineering & Construction Co. Ltd. These players are focusing on expanding their market share through strategic partnerships, joint ventures, and acquisitions.
In conclusion, the Marine Harbour Facilities construction projects industry in Kuwait is witnessing steady growth due to the government's focus on developing the country's infrastructure and the increasing investments in ports and harbours. The industry is expected to continue growing in the coming years, presenting significant opportunities for industry players to expand their market share and capitalize on the growing demand for new ports and harbours.
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