Kuwait Power Market Growth Status and Outlook 2021-2026 | ABB Ltd, General Electric Company, Siemens AG

The Global Kuwait Power Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.

The Kuwaiti power market is expected to register a CAGR of over 3% during the forecast period.

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Key Market Players: Kuwait Petroleum Corporation, ABB Ltd, General Electric Company, Siemens AG, and Al-Ahleia Switchgear Co. K.S.C.C  and Other

Key Market Trends

Natural Gas to be the Fastest Growing Market

- Kuwait plans to substitute natural gas for oil in the power generation sector, with an aim to address the governments plant for climate change and also to retain oil-export revenues for savings and investment within the country. Therefore, natural gas is expected to be the fastest-growing segment during the forecast period for Kuwaits power market.
- According to UNDP, Kuwaits natural gas production is expected to grow from 17.4 billion cubic meters to 27.3 billion cubic meters in 2035. Moreover, Kuwait is favoring the use of natural gas in combined-cycle and steam plants for power generation and increasing share of natural gas-fired power plants with upcoming projects that are likely to bolster the natural gas segment in the upcoming years.
- Moreover, Kuwait uses electricity for water desalination and petrochemical production, as well as for enhanced oil recovery techniques for boosting oil production and being reliant on LNG imports to meet the demand. Therefore, natural gas is being used to meet most of the water desalination process.
- Moreover, with natural gas being a clean source of energy and with the governments target to reduce emissions from power generation, natural gas increased its share from 40% in 2005 to more than 47% in 2018.

Ambitious Oil and Gas Production Targets Driving the Market

- Kuwait has planned to invest over USD 100 billion between 2018 and 2023 in the oil and gas industry to boost production. These investments are majorly done, in order, to increase the crude production capacity from the current levels of crude oil and natural gas production.
- Moreover, for the natural gas, Kuwait will increase production from 200 million billion cubic feet (bcf) per day to several folds by 2025 and beyond.
- At present, nearly all of Kuwait�s crude oil production comes from onshore fields, but there are also active attempts to expand offshore production capacity. New investments are expected to be done in offshore oil and gas exploration and production in the coming years.
- Also, Kuwait has begun chemical injection into a heavy oil field in the north of the country. The enhanced oil recovery (EOR) technique, which improves the mobility of residual oil through the reservoir, is the first of its kind to be applied in the Middle East and will attract investments by many oil and gas companies.
- Therefore, the above-mentioned factors are expected to increase the production and drive the power market during the forecast period.

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What are the market factors that are explained in the report?

Executive Summary: It includes key trends of the global Kuwait Power market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Kuwait Power market based on production and revenue.

Production and Consumption by Region: It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Kuwait Power market.

Market Segments: This part of the report discusses product type and application segments of the global Kuwait Power market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses the research methodology and approaches Kuwait Power used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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