Thailand Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
The construction market in Thailand was valued at $26.2 billion in 2021. The market is projected to grow at an AAGR of more than 3% during the period 2023-2026 and will be supported by higher public spending on infrastructure, renewable and residential construction. The construction market growth in Thailand over the forecast period will also be supported by investments in transport infrastructure projects.
The Thailand construction market report provides a detailed analysis of the Thai construction industry’s growth prospects by market, project type, and construction activity. It also provides critical insights into the impact of industry trends and issues as well as an analysis of key risks and opportunities in the construction industry. Moreover, it provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Thailand construction market overview
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What are the key sectors in the Thailand construction market?
The key sectors in the Thailand construction market are commercial construction, industrial construction, infrastructure construction, energy & utilities construction, institutional construction, and residential construction.Â
Commercial construction market in Thailand
The commercial sector is expected to expand in real terms this year and is expected to grow during the remainder of the forecast period, supported by the government’s efforts to revive the domestic tourism sector, coupled with growth in the office and retail sector. |
Industrial construction market in Thailand
The industrial sector is expected to grow during the forecast period and will be supported by an improvement in industrial and export activities. In August 2021, Thailand, and the European Union (EU) agreed to resume negotiations on a Free Trade Agreement (FTA), after a seven-year intermission following Thailand’s military coup. It is hoped that the FTA will increase Thailand’s attractiveness as a destination for investment and enhance the capacity of the logistics sector to support the manufacturing of advanced technology products. Infrastructure construction market in Thailand The sector’s output over the forecast period will be supported by the government’s focus on improving regional connectivity through the development of the country’s transport infrastructure. Growth in the sector is also expected to be supported by the investment plan to improve land, water, and air transportation by the Ministry of Transport, which was announced in January 2022. Energy & utilities construction market in Thailand The government’s plan to reach its non-hydroelectric renewables target of 18.7GW capacity by 2037 will drive the energy and utilities construction sector’s output over the forecast period. Institutional construction market in Thailand The institutional construction sector is expected to grow in real terms in 2022 before it stabilizes over the remainder of the forecast period between 2023 and 2026. Over the forecast period, the sector’s expansion will be supported by investments in health, education, and research projects. Residential construction market in Thailand The residential construction sector is expected to grow in 2022 before it stabilizes at an annual average growth during the remainder of the forecast period between 2023 and 2026. Over the forecast period, the sector’s expansion will be supported by the rising population and increasing urbanization, coupled with government investment in affordable housing schemes. |
Thailand construction market, by sectors
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Who are the key contractors in the Thailand construction market?
The key contractors in the Thailand construction market are Sino-Thai Engineering & Construction Public Co. Ltd, Italian-Thai Development PCL, China Railway Construction Corporation Group, China Railway Engineering Group Company Ltd, CH Karnchang Pcl, BTS Group Holdings Public Co. Ltd, Unique Engineering and Construction Public Co. Ltd, Bangkok Aviation Fuel Services PCL, RATCH Group, and Hyundai Corp.
Thailand construction market, by contractors
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Who are the key consultants in the Thailand construction market?
The key consultants in the Thailand construction market are Asian Engineering Consultants Corp. Ltd (AEC), National Economic and Social Development Board (NESDB), MHPM Co. Ltd, Team Consulting Engineering and Management Public Co. Ltd, Southeast Asia Technology Co. Ltd, East Japan Railway Co., WSP Global Inc., Chotichinda Mouchel Consultants Ltd, Daoreuk Communications Co. Ltd, and PSK Consultants Co. Ltd.
Thailand construction market, by consultants
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Market report scope
Market size (Year – 2021) | $26.2 billion |
Growth rate – AAGR (2023 – 2026) | Â >3% |
Forecast period | 2022-2026 |
Key sectors | Commercial Construction, Industrial Construction, Infrastructure Construction, Energy & Utilities Construction, Institutional Construction, and Residential Construction |
Key contractors | Sino-Thai Engineering & Construction Public Co. Ltd, Italian-Thai Development PCL, China Railway Construction Corporation Group, China Railway Engineering Group Company Ltd, CH Karnchang Pcl, BTS Group Holdings Public Co. Ltd, Unique Engineering and Construction Public Co. Ltd, Bangkok Aviation Fuel Services PCL, RATCH Group, and Hyundai Corp. |
Key consultants | Asian Engineering Consultants Corp. Ltd (AEC), National Economic and Social Development Board (NESDB), MHPM Co. Ltd, Team Consulting Engineering and Management Public Co. Ltd, Southeast Asia Technology Co. Ltd, East Japan Railway Co., WSP Global Inc., Chotichinda Mouchel Consultants Ltd, Daoreuk Communications Co. Ltd, and PSK Consultants Co. Ltd. |
Scope
This report provides a comprehensive analysis of the construction industry in Thailand. It provides –
- Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in – Thailand, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy, and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using GlobalData’s standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using GlobalData’s critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
List of Tables
List of Figures
Frequently Asked Questions
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