Jan 9, 2019 SOURCE: BusinessWire

Kuwait Air Compressor Market 2018-2024: Forecast by Type, Lubrication Method, Technology, Application and Region - ResearchAndMarkets.com

The "Kuwait Air Compressor Market (2018-2024): Market Forecast by Types, by Lubrication Method, by Technology, by Applications, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

Oil revenues accounts for almost the entirety of Kuwait's export earnings and contributes more than 50% towards the country's nominal GDP. In light of the slump in oil prices during 2014-17, the government spending was severely affected in Kuwait, leading to the scrapping of multiple new projects which were expected to hit the market.

According to this research, the Kuwait Air Compressor market revenues are forecast to grow at a CAGR of 3.9% during 2018-2024.

A major drop in oil prices in 2014 led to the downfall of the oil & gas industry in the country, resulting in negative growth for the air compressor market in Kuwait. The stabilizing of oil prices and the increasing role of the non-oil sector is expected to lead to positive growth for the air compressor market in 2018.

The ambitious Kuwait Vision 2035 Plan, which aims to diversify the economy, is revitalizing the construction market in the country. Ongoing and upcoming infrastructural advancement in Kuwait is further escalating the demand for air compressors in the country.

In Kuwait, rotary air compressors captured the majority of the market revenue share in 2017, and the segment is expected to dominate the overall market during the forecast period as well. The oil & gas application segment accounted for the maximum revenue share in the overall air compressor market on account of the several upcoming oil and gas projects.

Topics Covered

1. Executive Summary

2. Introduction

3. Kuwait Air Compressor Market Overview

4. Kuwait Air Compressor Market Dynamics

5. Kuwait Air Compressor Market Trends

6. Kuwait Air Compressor Market Overview, By Types

7. Kuwait Air Compressor Market Overview, By Lubrication Method

8. Kuwait Rotary Air Compressor Market Overview

9. Kuwait Centrifugal Air Compressor Market Overview

10. Kuwait Reciprocating Air Compressor Market Overview

11. Kuwait Air Compressor Market Overview, By End User Applications