According to SPER Market Research, the Kuwait Warehousing Market I currently undersupplied despite established regional leaders like Agility, KGL Logistics, and City Group. Initial success for warehousing companies came from providing services to US military personnel in Kuwait, but the industry is expanding away from government contracts and increasingly focusing on businesses and households. Due to the government's initiatives to improve the logistics infrastructure, increased imports, the trend of outsourcing logistics, and the rising volume of logistics, the Kuwaiti warehousing market has been expanding steadily at a single digit CAGR. The Kuwaiti government's plans to invest in a number of strategic industries as part of the Kuwait Development Plan (KDP) have had a favorable effect on the market.
With total storage space growing at a double digit CAGR, the expansion of local businesses in the logistics sector indicates expanding industry potential in the nation. 3PL and e-commerce businesses are anticipated to fuel demand for logistics space, and strong leasing momentum is projected to continue throughout the year. Consolidation, growth by current companies, and entry of new competitors are key factors anticipated to drive demand across the nation. Operational efficiency is anticipated to increase when warehouse automation technologies like EDI, RFID, Human Centric Designs, and Drones are adopted more widely.
The lockdown has impacted the manufacturing industry, distribution industry, operating plants, ports, and other sites because all facilities are closed, which is the cause of the sector's poor growth. Due to its global reach, the logistics industry has grown sophisticated. The effects of COVID on the warehouse will persist for a very long time. As COVID fluctuations and surges continue to appear in diverse parts of the world, the global supply chain and labor pool are finding it difficult to keep up. In this unstable environment, flexibility is essential for warehouses to survive. While demand in certain industries is falling sharply, it is rising in others due to a combination of an erratic supply chain and shifting consumer behavior.
Kuwait Logistics and Warehousing Market Overview:
- Forecast CAGR (2022-2032): XX%
- Forecast Market Size (2032): XX billion
The growth of the retail industry is another significant market driver. With the expansion of malls and the arrival of major retail chains in Kuwait, the demand for warehousing facilities to support these businesses' supply chains is rising.
Impact of COVID-19 on the Kuwait Warehousing Market:
The pandemic illness COVID-19 has started in China and spread to practically every corner of the planet, causing a terrible epidemic. As a result of declining demand and consumption rates, almost everything, including the global economy, human life, manufacturing sector, automobile sector, and others, is significantly impacted. The lockdown was implemented in advance of and to stop the spread of COVID-19 in large part due to the inaccessibility of the vaccination to treat or prevent the disease. The lockdown has impacted the manufacturing industry, distribution industry, operating plants, ports, and other sites because all facilities are closed, which is the cause of the sector's slow growth. Globalization has made the logistics industry more complicated. The consequences of COVID on the warehouse will be significant and long-lasting. The COVID variances and surges that continue to appear in various parts of the world are making it difficult for the global supply chain and labour pool to keep up. Flexibility is essential for warehouses to survive in this unsteady environment. Some businesses are experiencing unprecedented demand, while demand in other industries is declining, as a result of a combination of an erratic supply chain and shifting consumer behaviour.
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Kuwait Logistics and Warehousing Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Captive and Logistics Companies:
- Captive Companies
- Logistics Companies
By Licensed and Non-Licensed Warehouse:
- Licensed Warehouses
- Non-Licensed Warehouses
By Grade:
- Grade A
- Grade B and others
By Commercial Models:
- Built to Suit Model
- Long Term Leasing Model
- Rental Models by 3PL
By Warehouse Type:
- Agriculture
- Cold Storage
- Dry & Ambient
- Open Yards
- Other Warehouses
By End User:
- Automotive and Industrial Equipment
- Consumer E-Commerce
- Consumer Retail
- Food & Beverages
By Consumer E-Commerce:
- Dark Kitchens/Stores
- E-Commerce Delivery Stations
By Region:
- Ardiya
- Jahra
- Mina Abdullah
- Shuwaikh
- Sulaibiya
Areas like Mina Abdullah, Sulaibiya, Shuwaikh, Ardiya Shuaiba, Subhan, and Al Ahmadi are home to Kuwait's major industrial zones. The main centers for warehousing in Kuwait are in Mina Abdullah, Sulaibiya, Shuwaikh, and Ardiya, with Mina Abdullah taking up half of the entire amount of space for warehousing.
Kuwait Warehousing Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Agility Kuwait, APL Logistics, Aramex, City Group, DHL Kuwait, DSV, KGL Logistics Kuwait, TransCrate Logistics.
For More Information, refer to below link: -
Kuwait Warehousing Market Size
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