The publisher expects the construction industry in Thailand to expand by 3.5% in 2024 in real terms, supported by an improvement in tourism, business confidence and investment in the transport and renewable energy sectors. According to the Bank of Thailand (BoT), the Business Sentiment Index grew by 2% in 2023. Growth in 2024 will be further supported by the total expenditure of THB3.5 trillion ($101 billion) included in the financial year (FY) 2024 Budget (October 2023 to September 2024), a 9.3% increase in comparison to the previous year’s budget. The construction industry’s growth in 2024 will also be supported by an improvement in residential demand, highlighted by the increase in the value of outstanding mortgage loans and the number of residential land development licenses issued.
The publisher expects the Thai construction industry to record an average annual growth rate of 4.2% from 2025 to 2028, supported by the government’s focus on the development of tourism infrastructure, energy generation and housing projects. In November 2023, the Eastern Economic Corridor Office of Thailand (EEC) reported that it is focusing on attracting private investment worth THB535 billion ($15 billion) in the Chonburi region of over the next five years. The EEC plans to transform Chonburi into a global 'smart city' by 2037, spanning an area of 927.2ha. Growth will also be supported by the Department of Highways’ (DoH) 20-year plan to develop the country’s interprovincial motorway network, which will see the construction of 1,926km of new highways across the country by 2043.
The publisher expects the Thai construction industry to record an average annual growth rate of 4.2% from 2025 to 2028, supported by the government’s focus on the development of tourism infrastructure, energy generation and housing projects. In November 2023, the Eastern Economic Corridor Office of Thailand (EEC) reported that it is focusing on attracting private investment worth THB535 billion ($15 billion) in the Chonburi region of over the next five years. The EEC plans to transform Chonburi into a global 'smart city' by 2037, spanning an area of 927.2ha. Growth will also be supported by the Department of Highways’ (DoH) 20-year plan to develop the country’s interprovincial motorway network, which will see the construction of 1,926km of new highways across the country by 2043.
The Construction in Thailand – Key Trends and Opportunities to 2028 (H1 2024) report provides detailed market analysis, information and insights into the Thai construction industry, including -
- The Thai construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Thai construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Thailand. It provides -- Historical (2019-2023) and forecast (2024-2028) 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 the 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 the critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures