GURUGRAM, India, November 13, 2018
GURUGRAM, India, November 13, 2018 /PRNewswire/ --
Government Investment in Logistics Sector: Kuwait logistics and warehousing market has evolved in recent years owing to rising globalization, which has increased trade activities in the country thereby, Kuwait government has planned to invest across strategic sectors under Kuwait Development Plan (KDP) 2015-2020. The investments will be majorly for the transport and logistics infrastructure which will further accomplish the goal of establishing Kuwait as commercial hub in Northern Gulf. Moreover, government plan largely aims to advance competitiveness in Kuwait through the establishment of several projects such as developing seaports, airports, roads and railways which will in-turn directly lead to the rise in logistics activity in the country.
Increase in demand for Time Bound Deliveries: In Kuwait, people largely demand for time bound deliveries coupled with quality services which is expected to drive the express delivery market in the coming years. The express delivery companies have build a door to door linkage across domestic and international markets and have developed advanced shipment tracking facilities to cater time-sensitive needs of the Kuwait logistics sector. Moreover, it is anticipated that the need for time bound deliveries will boost with economic growth and development of trade and commerce thus creating growth opportunities for the express industry in Kuwait.
Growth in E-commerce Industry: In the forecast period, it is anticipated that E-Commerce industry in Kuwait will contribute a significant demand for Freight forwarding as e-commerce market in Kuwait is expected to reach USD 1.1 billion in 2020 owing to the rise in online shoppers. However, e-commerce industry contributes a minimal share in revenue generation for the freight forwarding industry, but with the growth in online shoppers and increasing demand express delivery for imported items in future will contribute a major share in expansion of freight forwarding market.
Analyst at Ken Research in their latest publication "Kuwait Logistics and Warehousing Market Outlook to 2022 - By Freight Forwarding/ Transportation, Warehousing and Value Added Services, E-commerce Logistics, Express Delivery, Third Party Logistics" believe that expansion of network, innovation in technology, better quality of service and modernization in custom process will create a positive impact in the Kuwait logistics and warehousing market. The Kuwait market is expected to register a positive CAGR of 9.0% during the forecast period 2018E-2022E. The market is further expected to be driven by escalating industrial activities, rising E-commerce industry and continuous investment by the government in expansion of logistics infrastructure and consistent economic growth.
Key Segments Covered
By Logistics Service Mix
Freight Forwarding Market:
By Freight Movement
By Mode of Freight:
By Type of Delivery
By Flow Corridors
By End Users
By Business Model:
By End Use
Express and E-commerce Market:
Express Logistics Mode of Transport
Express Logistics Delivery Type
Express Logistics Business Mode
E-Commerce Logistics Channel
E-Commerce Logistics Time Duration
E-Commerce Logistics Payment Method
Key Target Audience
Companies Covered (Freight Forwarding):
Companies Covered (Warehousing):
Companies Covered (Express and E-Commerce)
For more information on the research report, refer to below link:
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Ankur Gupta, Head Marketing