Kuwait: Prefabricated Buildings Market 2024

Prefabricated Buildings Market Size in Kuwait

The Kuwaiti prefabricated buildings market rose slightly to $X in 2022, increasing by 4.7% against the previous year. Over the period under review, consumption continues to indicate resilient growth. Prefabricated buildings consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Prefabricated Buildings Production in Kuwait

In value terms, prefabricated buildings production rose to $X in 2022 estimated in export price. In general, production showed a resilient increase. The growth pace was the most rapid in 2015 when the production volume increased by 50% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Prefabricated Buildings Exports

Exports from Kuwait

After two years of growth, shipments abroad of prefabricated buildings decreased by -12.2% to X units in 2022. Overall, exports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2018 with an increase of 297% against the previous year. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, prefabricated buildings exports shrank remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a temperate expansion. The pace of growth was the most pronounced in 2018 with an increase of 223% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Qatar (X units), Saudi Arabia (X units) and Yemen (X units) were the main destinations of prefabricated buildings exports from Kuwait, with a combined 92% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +28.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for prefabricated buildings exports from Kuwait, comprising 60% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 22% share of total exports. It was followed by Yemen, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar stood at +34.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-5.9% per year) and Yemen (+20.4% per year).

Export Prices by Country

The average prefabricated buildings export price stood at $X per unit in 2022, with a decrease of -6.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 62%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Prefabricated Buildings Imports

Imports into Kuwait

Prefabricated buildings imports into Kuwait reduced markedly to X units in 2022, dropping by -28.4% compared with the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 115%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, prefabricated buildings imports dropped significantly to $X in 2022. Over the period under review, imports recorded a noticeable setback. The growth pace was the most rapid in 2021 with an increase of 118% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest prefabricated buildings supplier to Kuwait, with a 48% share of total imports. Moreover, prefabricated buildings imports from China exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X units), twofold. The third position in this ranking was held by the United Arab Emirates (X units), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+5.5% per year) and the United Arab Emirates (-20.8% per year).

In value terms, China ($X), Italy ($X) and the United Arab Emirates ($X) appeared to be the largest prefabricated buildings suppliers to Kuwait, with a combined 69% share of total imports. Saudi Arabia, the United States, Turkey, Estonia and Germany lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Estonia, with a CAGR of +197.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average prefabricated buildings import price amounted to $X per unit, rising by 1.9% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2016 an increase of 37%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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