Thailand Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H2 2025)

The analyst expects the construction industry in Thailand to grow by 5.9% in real terms in 2025, supported by public and private sector investment in renewable energy and infrastructure sectors. According to the National Economic and Social Development Council (NESDC), the construction industry’s value-add grew by 8% year on year (YoY) in Q2 2025, preceded by Y-o-Y growth rates of 16.2% in Q1 2025 and 18.3% in Q4 2024. In August 2025, Thailand’s Finance Ministry secured a THB13.8 billion ($386.6 million) loan from the Asian Infrastructure Investment Bank (AIIB) to fund the construction of a second runway at U-Tapao Airport, a key part of the Eastern Aviation City project within the Eastern Economic Corridor. The new runway is expected to be completed by 2028.

Over the remainder of the forecast period, the construction industry is expected to grow at an annual average rate of 4.1% between 2026 and 2029, supported by investments in tourism, coupled with public private investments in transportation. In September 2025, the Expressway Authority of Thailand (Exat) announced that the agency plans to send the THB55 billion ($1.5 billion) Samui Expressway project to the cabinet for endorsement in late 2026. The 37.4km toll road project includes the construction of the country’s longest sea-crossing bridge to connect Don Sak on the mainland to Koh Samui to boost transport and tourism. Construction is planned to begin in 2029 and scheduled to be completed by 2034.

The Construction in Thailand - Key Trends and Opportunities to 2029 (H2 2025) report provides detailed market analysis, information, and insights into Thailand's construction industry, including:

Thailand’s 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 Thailand’s construction industry
Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Report Scope

This report provides a comprehensive analysis of the construction industry in Thailand. It provides:

Historical (2020-2024) and forecast (2025-2029) 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 our 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 business strategies using the analyst's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors

1 Executive Summary2 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

Outlook
Latest news and developments
Construction Projects Momentum Index

4.2 Commercial Construction

Outlook
Project analytics
Latest news and developments

4.3 Industrial Construction

Outlook
Project analytics
Latest news and developments

4.4 Infrastructure Construction

Outlook
Project analytics
Latest news and developments

4.5 Energy and Utilities Construction

Outlook
Project analytics
Latest news and developments

4.6 Institutional Construction

Outlook
Project analytics
Latest news and developments

4.7 Residential Construction

Outlook
Project analytics
Latest news and developments

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

About the Analyst
Contact the Publisher

List of Tables

Table 1: Construction Industry Key Data
Table 2: Thailand, Key Economic Indicators
Table 3: Thailand, Commercial Construction Output by Project Type (Real % Change), 2020-29
Table 4: Thailand, Top Commercial Construction Projects by Value
Table 5: Thailand, Industrial Construction Output by Project Type (Real % Change), 2020-29
Table 6: Thailand, Top Industrial Construction Projects by Value
Table 7: Thailand, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
Table 8: Thailand, Top Infrastructure Construction Projects by Value
Table 9: Thailand, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
Table 10: Thailand, Top Energy and Utilities Construction Projects by Value
Table 11: Thailand, Institutional Construction Output by Project Type (Real % Change), 2020-29
Table 12: Thailand, Top Institutional Construction Projects by Value
Table 13: Thailand, Residential Construction Output by Project Type (Real % Change), 2020-29
Table 14: Thailand, Top Residential Construction Projects by Value
Table 15: Thailand, Key Contractors
Table 16: Thailand, Key Consultants
Table 17: Thailand, Construction Output Value (Real, $ Million)
Table 18: Thailand, Construction Output Value (Nominal, THB Billion)
Table 19: the analyst Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions

List of Figures

Figure 1: South-East Asia, Construction Output (Real % Change), 2023-29
Figure 2: Thailand, Construction Output by Sector (Real % Change), 2023-25 and 2026-29
Figure 3: Thailand, Risk Summary
Figure 4: Thailand, Risk Regional Comparison
Figure 5: Thailand, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020-29
Figure 6: Thailand, Construction Output Value, by Sector (Real, $ Million), 2020-29
Figure 7: Thailand, Construction Value-add (THB Million, 2002 Constant Prices)
Figure 8: Thailand, Gross Fixed Capital Formation in Construction (THB Million, 2002 Constant Prices)
Figure 9: Thailand, Building Materials Price Index Base Year (2015 = 100)
Figure 10: Thailand, Labour Cost Index (2013=100)
Figure 11: Thailand, Construction Material Price Index (2015=100)
Figure 12: Thailand, Private Construction Investment Index Seasonally Adjusted (2018=100)
Figure 13: Thailand, Construction Areas Permitted Nationwide (Thousand M2)
Figure 14: Thailand, Property Credit Outstanding (THB Billion)
Figure 15: Thailand, Construction Projects Momentum Index
Figure 16: South-East Asia, Construction Projects Momentum Index
Figure 17: Thailand, Commercial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 18: Thailand, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: Thailand, Foreign Tourist Arrivals, In Thousands
Figure 20: Thailand, Average Retail Sales Index (2019=100)
Figure 21: Thailand, Wholesale and Retail Trade Value-Add (THB Million, 2002 Constant Prices)
Figure 22: Thailand, Gross Fixed Capital Formation in Construction (THB Million, 2002 Constant Prices)
Figure 23: Thailand, Industrial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 24: Thailand, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 25: Thailand, Industrial Value-Add (THB Million, 2002 Constant Prices)
Figure 26: Thailand, Exports of Goods at Constant Market Prices (THB Million, Seasonally Adjusted)
Figure 27: Thailand, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
Figure 28: Thailand, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Thailand, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
Figure 30: Thailand, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Thailand, Value-Add of Electricity, Gas, Steam and Air Conditioning Supply (THB Million, 2002 Constant Prices)
Figure 32: Thailand, Value-Add of Water Supply, Sewerage, Waste Management, and Remediation Activity (THB Million, 2002 Constant Prices)
Figure 33: Thailand, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
Figure 34: Thailand, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 35: Thailand, Health Value-Add (THB Million, 2002 Constant Prices)
Figure 36: Thailand, Education Value-Add (THB Million, 2002 Constant Prices)
Figure 37: Thailand, Residential Construction Output by Project Type (Real, $ Million), 2020-29
Figure 38: Thailand, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 39: Thailand, Residential Land Development Licenses (Number)
Figure 40: Thailand, Real Estate Value-Add (THB Million, 2002 Constant Prices)
Figure 41: Thailand, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 42: Thailand, Headquarters of Key Consultants (% of Total Project Pipeline)

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The Construction in Thailand - Key Trends and Opportunities to 2029 (H2 2025) report provides detailed market analysis, information, and insights into Thailand's construction industry, including:

Report Scope

This report provides a comprehensive analysis of the construction industry in Thailand. It provides:

Reasons to Buy

Table of Contents

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