Kuwait Warehousing Market Outlook to 2022 - By Business Model (Industrial Freight/ Retail, Container Freight, Cold Storage, Agricultural Warehousing): Ken Research
GURUGRAM, India, July 18, 2018 /PRNewswire/ --
Key Takeaways from Ken Research Report titled, Kuwait Warehousing Market Outlook to 2022
- In Kuwait, industrial freight/retail is expected to dominate warehousing market during the year 2022 with the growth in customer expenditure on food & beverages
- Cold storage warehousing is expected to register compelling growth in future due to increasing demand and heavy dependency on import for fresh and processed food in the country.
Kuwait warehousing industry poises compelling opportunities in the future with the growth in imports of dairy products, food items, fruits and vegetables and planned capital expenditure in warehousing space expansion. The upcoming Mubarak Al Kabir Port Phase II is expected to provide impetus to additional port warehousing capacity. Warehousing space is also expected to be increased through projects such as the planned Cargo City which will cater to air cargo.
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The industry is highly concentrated with Agility and KGL dominating the warehousing space in the country. Sulabiya, Shuwaikh and Mina Abdullah are the regions which have the maximum concentration of warehouses in the country due to easy connectivity with the sea ports. Shuwaikh port is the cluster of industrial/retail freight. Positive incline in online shopping and e-commerce industry will attribute to this segment. The logistics companies specialized in this segment include Agility and DHL, APL Logistics, Dolphin, KGL Logistics and many others.
The warehousing market in Kuwait witnessed decline in the growth rate in 2015 due to closing down of the free trade zones (FTZs). FTZ's allowed import duty free goods and tax free income of foreign corporate which attracted majority of the warehouses to establish in that region. However, with the closing down of FTZs, decline in imports and exports activity has been observed during the respective year.
The warehousing market has inclined over the years with an increase in demand for fresh fruits & vegetables and frozen food. The surge in FMCG sector has also impacted the market in a positive manner.
The companies owning warehouses have also attributed to the industry such as DHL with 1 warehouse, Dolphin with 2 warehouses and UAGSCO with 4 warehouses.
Country is majorly dependent on imports of frozen food, dairy products, consumer staples, pharmaceuticals and polymers which increased the end user spending on warehousing needs.
Demand for closed warehouses has increased significantly in Kuwait due to climate temperature prevail in the country is quiet high on an average 36.7 degree Celsius.
Analysts at Ken Research in their latest publication "Kuwait Warehousing Market Outlook to 2022 - b y Business Model (Industrial Freight/ Retail, Container Freight, Cold Storage, Agricultural Warehousing) by End Users (Food and Beverages, Chemicals, Electronics, Pharmaceuticals, E-Commerce, Consumer Durables and Others)" believe that the warehousing companies should focus to handle an increased quantity of industrial or cargo based freight. Private sector logistics services providers manage a significant part of the supply of inland warehousing space in Kuwait. Providing connectivity between the ports and these warehouses can be expected to help address the demand to an extent.
Kuwait import-export business has stabilized recently which has enabled the industry to handle more cargo shipments. This is expected to drive the requirement for import-based warehousing. Kuwait Warehousing market is expected to register positive CAGR of around 10.1% during the period 2017-2022 with anticipated warehousing capacity expansion, tie ups with e-commerce players and mainstream application of innovative technologies in the industry.
Key Topics Covered in the Report:
- Warehousing Market in Kuwait
- Kuwait Warehousing Market
- Warehousing Businesses in Kuwait
- History of Warehousing in Kuwait
- Role of Warehousing in Kuwait
- Number of Warehouses Kuwait
- Demand Warehousing Kuwait
- Kuwait Warehousing Industry
- Kuwait Warehousing Emerging Trends
- Types of Warehouses in Kuwait
- Warehouses required for Industrial Freight in Kuwait
- Container Freight Warehouses in Kuwait
- Cold Storage Warehouses in Kuwait
- Kuwait Warehousing Sector Size
- Kuwait Warehousing Competition Scenario
- Players in Kuwait Warehousing
- Warehousing Cost Kuwait
- International Warehousing Companies in Kuwait
- Domestic Warehousing Companies Kuwait
- Government Regulations Kuwait Warehousing
- Warehousing Future Outlook Kuwait
- Warehousing Technologies in Kuwait
- Pallet Warehousing Kuwait
- Warehousing Space Kuwait
- Warehousing Revenue Kuwait
Products Covered:
- Industrial Freight/Retail Warehousing
- Container Freight Stations
- Cold storage
- Agricultural warehousing
Companies Covered:
- Agility Kuwait
- KGL Logistics
- Dolphin Logistics
- DHL Kuwait
For more information on the market research report please refer to the below link:
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Ken Research
Ankur Gupta, Head Marketing & Communications
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SOURCE Ken Research
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