Kuwait Facility Management Market is expected to reach about $1,600 Mn by 2026 owing to rising demand for the services by commercial sector and cost effectiveness: Ken Research
Ken Research
Updated 7 min read
Ken Research
The report covers Competitors in Kuwait Facility Management Market, EcovertFM Kuwait Facility Management Market, Emerging Companies in Kuwait FM Sector, Facility Management Business Acquisition in Kuwait, facility management companies in Kuwait, Facility Management in Kuwait, facility management services Market Kuwait, Fawaz Group Facilities Management Services Market, Kharafi National Facility Management Market Share, Kuwait hard Facility Management Market, Kuwait Hospitality Facility Management Market, Kuwait In-House Personnel FM Market, Kuwait Integrated Facility Services Market, Kuwait Office Facility Management Market.
Gurugram, India, Nov. 29, 2022 (GLOBE NEWSWIRE) --
The next 5 years would witness the entry of many new companies in the industry especially real estate developers and international players with more advanced technology assisted service delivery.
The share of security services in soft services will remain high as it is demanded by many businesses and due to increase in residential and commercial construction in the country.
The share of security services in soft services will remain high as it is demanded by many businesses and due to increase in residential and commercial construction in the country.
Focus on Green Building Management & Energy Efficiency: Green buildings aim at increasing the efficiency of resource usage while minimizing its negative impact on humans and surroundings. Efforts are being made to identify relationships between green building key management practices and green building performance. Structural and nonstructural approaches are being adopted for energy management so as to achieve cost reduction in the building operations. Structural approaches include any physical construction while nonstructural approaches involve application of knowledge, practices and laws to achieve energy efficiency.
Technology: Technological advancements have impacted the industry: BIM technology enables organizations to visualize specific components of a space, including structural elements. Machine learning enables building systems to automatically collect and analyze data in order to predict outcomes. Smart Building Technology is used to automatically controls a facility’s operations, including heating, air conditioning, lighting and security.
Alternative Uses of Spaces: Challenges in leasing office spaces due to regulatory issues, globalization and increased social networking has led to a growing trend of new spaces being set up such as co-working spaces, art & cultural hubs.
Analysts at Ken Research in their latest publication “Kuwait Facility Management Market Outlook to 2026F - Driven By Rising End-Users Awareness, Improving Technology and Government’s Strong Initiatives regarding Infrastructure” observed that Facility Management Services market is an emergent healthcare market in Kuwait. The rising Facility Management consciousness among the population and business owners, along with increasing infrastructural growth and technology, expansion of their operation, implementation of favourable government rules & regulations is expected to contribute to the market growth over the forecast period. The Kuwait Facility Management is expected to grow at 8.9% CAGR over the forecasted period 2021-2026F.
Key Segments Covered in the report:- Kuwait Facility Management Market By Type of Service Soft Service Hard Service
By Hard Service Electromechanical Services Operations and Maintenance Services Fire Safety and Security Systems
By Soft Service Housekeeping Security Landscaping Others
By Integrated Facility Services, Bundled Services and Single Services Bundled services Single services Integrated facility management (IFM)
By End User Commercial Industrial Residential
By Personnel In-House Personnel Outsourced Personnel
Key Target Audience Factories Plants and Industries Hotels Hospitals Malls Companies and offices Tourism Agencies Government Bodies & Regulating Authorities Facility Management companies Real estate companies
Time Period Captured in the Report:- Historical Period: 2016-2021 Forecast Period: 2021-2026F
Companies Covered:- Kharafi National United Facility Management EFS Facility Management Services Fawaz Group O&G Engineering W.L.L. EcovertFM Kuwait Al Mazaya Holding Company Al-Awsat United Real Estate Co. ONE FM PIMCO Gulf Engineering Company K.S.C.C
Key Topics Covered in the Report Executive Summary: Kuwait Facility Management Market, 2016-2026F Kuwait Facility Management Market Size by Revenue, 2016-2026F Kuwait Population Analysis, 2021 Kuwait Demographic Analysis, 2021 Kuwait Oil and Non-Oil Quarterly Real GDP growth,2017-2020 Business Cycle and Genesis of Kuwait Facility Management Business Acquisition Process in Kuwait Facility Management Market Supply Side Ecosystem Kuwait Real Estate Market Overview, 2021 Kuwait Rental Market Overview, 2021 Kuwait Housing Loan Market, 2021 Kuwait Hospitality Market Overview, 2021 Kuwait Retail Market Overview, 2021 Supply Side Ecosystem - Maintenance (Hard FM) Supply Side Ecosystem - Cleaning and Security Supply Side Ecosystem - Waste Management Supply Side Ecosystem - Integrated FM Kuwait Facility Management Market Segmentation SWOT Analysis of Kuwait Facility Management Market Key Growth Drivers in Facility Management Market in Kuwait Trends and Developments in Kuwait Facility Management Market Kuwait Facility Management Market Major Technological Trends, 2021 Regulatory Landscape of Kuwait Facility Management Market Types of Contracts in Kuwait Facility Management Market Competition Scenario in Kuwait Facility Management Market Cross Comparison of Major Projects in Kuwait Facility Management Market Market Sizing Analysis of Kuwait Facility Management Market, 2021-2026F Best Practices for Improving Facility Services Operational Strategies for Facility Management Market in Kuwait Growth Strategies of Kuwait Facility Management Market
For more insights on the market intelligence, refer to the link below:-
Qatar Facility Management Market is currently at the growing stage owing to growing trend amongst clients opting for integrated facility management and single services, heavy investment in new technologies. The market has registered a positive growth over the historical period 2016-2021 owing to the growth in commercial and residential real estate. The construction sector is a major contributor to GDP of the country, high growth rate of construction further boosted the demand for services. The market continues to be attractive because higher competition, leading to greater scrutiny of contracts, contract renewals, customized contracts.
Chile facility management market was observed in its growing stage. The market in terms of revenue has increased at a positive double digit CAGR during the review period of 5 years from 2013 to 2018. This growth was supported by increasing investor activities, cost control measures, greater demand from many end user sectors, adoption of sustainable practices and technological advances, along with the rising demand for commercial and industrial sector in the country, wherein market players catered to the needs of the clients for both hard services and soft services. Growth of the construction industry, owing to the government’s plan with respect to the development of transport infrastructure, energy and utilities coupled with affordable housing and investments in sea ports, railway lines, and special economic zones has triggered the demand for facility management services in the country. Integrated services segment is the largest contributor to the industry in terms of the revenues during the year 2018.
Saudi Arabia’s Real Estate Market is one of the biggest and fastest-growing markets due to government support initiatives and rising younger population. The Capital city of Riyadh has the highest existing and upcoming stock of office and residential space in the country. KSA Facility Management market is at the growing stage with huge profitability potential marked with the presence of 50+ Facility Management Service providers and increasing. The Market has experienced a robust growth rate over the period 2020-2021, with a sudden rise in 2021 due to COVID-19 and certain regulations imposed by the Government of KSA that interfered with the normal functioning of the industry. Demand for facility management services was driven by commercial and real estate expansion, rising awareness among the clients regarding importance of maintenance services for sustainable buildings. The market continues to be attractive because higher competition, leading to greater scrutiny of contracts, contract renewals and customized contracts.
Vietnam Facility Management market is at a growing stage. The industry revenue has increased at a positive CAGR of over 5% during the period 2013-2018. This growth was supported by higher FDI inflows in the economy, public sector outsourcing, cost control measures, greater demand from end user sectors (such as commercial, industrial and others), rapid urbanization and technological advances, along with rising demand for commercial and residential spaces in the country, wherein market players catered to the needs of the clients for both hard and soft services. The customers in the market are highly price sensitive and a lack of awareness about the importance of facility management services has resulted in low penetration of these services.
Egypt’s Real Estate Market is one of the biggest and fastest-growing markets due to government support initiatives and the rising younger population. The construction sector is a major contributor to the GDP of the country, the high growth rate of construction further boosted the demand for services Egypt Facility Management market is at the growing stage with huge profitability potential marked by the presence of 50+ Facility Management Service providers and increasing. The Market has experienced a robust growth rate over the period 2020-2021, with a sudden rise in 2021 due to COVID-19. Demand for facility management services was driven by commercial and real estate expansion, rising awareness among the clients regarding the importance of maintenance services for sustainable buildings. The market continues to be attractive because of higher competition, leading to greater scrutiny of contracts, contract renewals and customized contracts.
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