Thailand Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Thailand Construction Market Report Overview
The Thailand construction market size was valued at $23.7 billion in 2022 and is expected to achieve an AAGR of more than 3% from 2024 to 2027. The forecast-period growth in the industry is supported by stronger private consumption, a recovery in the tourism sector, and strong pent-up demand following China’s reopening. Furthermore, WHO expects foreign tourist arrivals to Thailand to increase, before surpassing its pre-pandemic levels by the second half of 2024.
Thailand Construction Market Overview, 2022-2027 ($ Billion)
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The Thailand construction market research report provides a detailed analysis of the Thailand construction industry’s growth prospects by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Thailand construction industry. The report also provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
|Market Size (2022)||$23.7 billion|
|AAGR (2024 – 2027)||>3%|
|Key Sectors||· Commercial Construction
· Industrial Construction
· Infrastructure Construction
· Energy and Utilities Construction
· Institutional Construction
· Residential Construction
|Key Contractors||· Italian-Thai Development PCL
· Unique Engineering and Construction Public Co Ltd
· Sino-Thai Engineering & Construction Public Co Ltd
· Nawarat Patanakarn Public Co Ltd
· CH. Karnchang Pcl
· China Railway Construction Corporation Group
|Key Consultants||· MHPM Co Ltd
· WSP Global Inc
· Southeast Asia Technology Co Ltd
· Chotichinda Mouchel Consultants Ltd
· PSK Consultants Co Ltd
|Enquire & Decide||Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.|
Thailand Construction Market Segmentation by Sectors
The key sectors in the Thailand construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, residential construction accounted for the highest construction output value.
Commercial construction: Forecast-period growth in the commercial construction sector’s output will be supported by investments in office and data center projects and a rebound in tourism activities.
Industrial construction: Forecast-period growth in the industrial construction sector’s output will be supported by a gradual rebound in manufacturing and export activities coupled with investment in the country’s auto sector.
Infrastructure construction: Forecast-period growth in the infrastructure construction sector’s output will be supported by investment in road, rail, airport, and cross-border infrastructure projects.
Energy and utilities construction: The sector’s growth over the forecast period will be supported by the government’s focus on accelerating its shift to renewable energy.
Institutional construction: Forecast-period growth in the institutional construction sector’s output will be supported by investments in health, education, and research projects. The government’s focus on boosting medical tourism in the country will also attract investments towards healthcare buildings in the coming quarters.
Residential construction: Forecast-period growth in the residential construction sector’s output will be supported by the growth in new residential development licenses issued, coupled with the government’s focus on boosting homeownership among low-income earners.
Thailand Construction Market Analysis, by Sectors, 2022 (%)
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Thailand Construction Market - Competitive Landscape
Some of the key contractors in the Thailand construction market Italian-Thai Development PCL, Unique Engineering and Construction Public Co Ltd, Sino-Thai Engineering & Construction Public Co Ltd, Nawarat Patanakarn Public Co Ltd, CH. Karnchang Pcl, and China Railway Construction Corporation Group. Italian-Thai Development PCL was the leading contractor in the Thailand construction market.
Thailand Construction Market by Contractors, 2022 (%)
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Some of the key consultants in the Thailand construction market are MHPM Co Ltd, WSP Global Inc, Southeast Asia Technology Co Ltd, AECOM, Chotichinda Mouchel Consultants Ltd, and Asian Engineering Consultants Corp,Ltd (AEC). Asian Engineering Consultants Corp, Ltd (AEC) was the leading consultant in the Thailand construction market.
Thailand Construction Market by Consultants, 2022 (%)
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Thailand Construction Sectors Outlook (Value, $ Billion, 2018-2027)
- Commercial Construction
- Leisure and Hospitality Buildings
- Office Buildings
- Outdoor Leisure Facilities
- Retail Buildings
- Other Commercial Construction
- Industrial Construction
- Chemical and Pharmaceutical Plants
- Manufacturing Plants
- Metal and Material Production and Processing plants
- Waste Processing Plants
- Infrastructure Construction
- Rail Infrastructure
- Road Infrastructure
- Other Infrastructure Projects
- Energy and Utilities Construction
- Electricity and Power
- Oil and Gas
- Sewage Infrastructure
- Water Infrastructure
- Institutional Construction
- Educational Buildings
- Healthcare Buildings
- Institutional Buildings
- Research Facilities
- Religious Buildings
- Residential Construction
- Single-Family Housing
- Multi-Family Housing
This report provides a comprehensive analysis of the construction industry in Thailand. It provides –
- Historical and forecast 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.
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
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 Risk Profile
- 4 Construction Outlook
- 4.1 All Construction
- 4.1.1 Outlook
- 4.1.2 Latest news and developments
- 4.1.3 Construction Projects Momentum Index
- 4.2 Commercial Construction
- 4.2.1 Outlook
- 4.2.2 Project analytics
- 4.2.3 Latest news and developments
- 4.3 Industrial Construction
- 4.3.1 Outlook
- 4.3.2 Project analytics
- 4.3.3 Latest news and developments
- 4.4 Infrastructure Construction
- 4.4.1 Outlook
- 4.4.2 Project analytics
- 4.4.3 Latest news and developments
- 4.5 Energy and Utilities Construction
- 4.5.1 Outlook
- 4.5.2 Project analytics
- 4.5.3 Latest news and developments
- 4.6 Institutional Construction
- 4.6.1 Outlook
- 4.6.2 Project analytics
- 4.6.3 Latest news and developments
- 4.7 Residential Construction
- 4.7.1 Outlook
- 4.7.2 Project analytics
- 4.7.3 Latest news and developments
- 4.1 All Construction
- 5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
- 6 Construction Market Data
- 7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 8 About GlobalData
- 9 Contact Us
Frequently asked questions
What was the Thailand construction market size in 2022?
The Thailand construction market size was $23.7 billion in 2022.
What is the Thailand construction market growth rate?
The construction market in Thailand is expected to achieve an AAGR of more than 3% during 2024-2027.
Which sector led the Thailand construction market?
The residential construction sector led the Thailand construction market in 2022.
Who are the leading contractors in the Thailand construction market?
Some of the key contractors in the Thailand construction market Italian-Thai Development PCL, Unique Engineering and Construction Public Co Ltd, Sino-Thai Engineering & Construction Public Co Ltd, Nawarat Patanakarn Public Co Ltd, CH. Karnchang Pcl, and China Railway Construction Corporation Group.
Who are the leading consultants in the Thailand construction market?
The leading consultants in the Thailand construction market are MHPM Co Ltd, WSP Global Inc, Southeast Asia Technology Co Ltd, AECOM, Chotichinda Mouchel Consultants Ltd, and Asian Engineering Consultants Corp,Ltd (AEC)
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