PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584634
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584634
Thailand Construction Market, By Material Type; By Construction Activity; By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
Thailand Construction Market Size Expands to Surpass Value of USD 34.2 Billion by 2030
Thailand Construction Market is thriving due to the government's infrastructure development projects, rapid urbanization, increasing foreign direct investments, thriving tourism and hospitality sector, an increasing demand for residential and commercial buildings, and expansion of transportation and energy sectors.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Thailand Construction Market size by value at USD 26.68 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Thailand Construction Market size to expand at a CAGR of 5.30% reaching a value of USD 34.23 billion by 2030. The driving factors for Thailand Construction Market include the increasing number of government's infrastructure development projects, such as transportation networks and smart city initiatives, aimed at boosting economic growth. The expansion of urban areas and tourism infrastructure further fuels demand for residential, commercial, and hospitality projects. Foreign direct investments (FDI), public-private partnerships, and the country's strategic location within ASEAN contribute to market growth. Additionally, environmental sustainability trends and the adoption of advanced construction technologies enhance productivity and efficiency in the sector.
Opportunity - Adoption of Advanced Construction Technologies
The adoption of advanced construction technology is expected to further drive Thailand Construction Market in the coming years. Innovations, such as Building Information Modeling (BIM), prefabrication, and 3D printing, are enhancing project efficiency, reducing costs, and minimizing waste. These advanced technologies also improve accuracy in design and project execution, leading to quicker project completion times. As the Thai government promotes infrastructure development and smart city initiatives, the use of modern construction technology is becoming more prevalent, boosting market expansion.
Impact of Escalating Geopolitical Tensions on Thailand Construction Market
Escalating geopolitical tensions in the Middle East region are affecting the grwoth Thailand Construction Market, with rising oil prices and shipping blockages causing inflation, higher interest rates, project delays, reduced profitability, and deterring foreign investments. Thailand's trade and investments are at risk due to the ongoing conflict in Ukraine, rise of protectionism, and uncertainty surrounding the US-China rivalry. The conflict disrupts global supply chains, increasing energy prices and affecting Thai businesses. This results in financial pressures on contractors and developers, causing project delays and reduced profitability. The Finance Ministry and NESDC recommend diversifying trade partners, strengthening domestic demand, and promoting regional cooperation to mitigate risks. The impact depends on the conflict's duration, US and China's economic recovery, and Thai government actions.
New Construction Activity Segment Leads Thailand Construction Market
The new construction segment dominates Thailand Construction Market, driven by infrastructure development, urbanization, and government initiatives. The growing middle class population and affordable housing demand drive growth. Thailand's strategic location attracts multinational companies and investors, making it the largest contributor to the industry. Sustainable and green building practices further enhance its appeal.
Competitive Landscape
Thailand Construction Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Italian-Thai Development Public Company Limited, SCG International Corporation Company Limited, Siam Global House Public Company Limited, Land and Houses Public Company Limited, Dohome Public Company Limited, CRC Thai Watsadu Limited, Drainage and Sewerage Department, Bangkok Komatsu Company Limited, SPCC Joint Venture, and Caterpillar (Thailand) Limited. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Thailand Construction Market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Thailand Construction Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Thailand Construction Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Thailand Construction Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Government infrastructure projects
- 3.2.1.2. Expansion in the tourism industry
- 3.2.1.3. Growing urban populations
- 3.2.2. Restraints
- 3.2.2.1. Rising costs of construction materials
- 3.2.2.2. Skilled labor shortages
- 3.2.2.3. Strict environmental impact assessments and regulations
- 3.2.3. Opportunities
- 3.2.3.1. Growing demand for eco-friendly and energy-efficient buildings
- 3.2.3.2. Adoption of construction technology
- 3.2.3.3. Rising middle class income levels
- 3.2.4. Challenges
- 3.2.4.1. Environmental Concerns
- 3.2.4.2. Challenges in transportation infrastructure
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Thailand Construction Market: Pricing Analysis
5. Thailand Construction Market: Marketing Strategies
6. Thailand Construction Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Material Type
- 6.2.1.1. Concrete Construction
- 6.2.1.2. Steel Construction
- 6.2.1.3. Wood Construction
- 6.2.1.4. Composite Materials Construction
- 6.2.1.5. Others
- 6.2.2. By Construction Activity
- 6.2.2.1. New Construction
- 6.2.2.2. Renovation
- 6.2.2.3. Maintenance & Repair
- 6.2.2.4. Demolition
- 6.2.3. By End User
- 6.2.3.1. Real Estate Development
- 6.2.3.2. Energy & Utilities
- 6.2.3.3. Healthcare
- 6.2.3.4. Education
- 6.2.3.5. Government & Public Services
- 6.2.1. By Material Type
7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. Thailand Construction Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on Thailand Construction Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 9.1. Italian-Thai Development Public Company Limited
- 9.2. SCG International Corporation Company Limited
- 9.3. Siam Global House Public Company Limited
- 9.4. Land and Houses Public Company Limited
- 9.5. Dohome Public Company Limited
- 9.6. CRC Thai Watsadu Limited
- 9.7. Drainage and Sewerage Department
- 9.8. Bangkok Komatsu Company Limited
- 9.9. SPCC Joint Venture
- 9.10. Caterpillar (Thailand) Limited
- 9.11. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents
- 11.5. Assumption & Limitation
* Financial information of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 Thailand Construction Market Segmentation
- Figure 2 Thailand Construction Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 Thailand Construction Market Size, By Value (USD Billion), 2019-2030
- Figure 5 Thailand Construction Market Share, By Material Type, By Value (USD Billion), 2019-2030
- Figure 6 Thailand Construction Market Share, By Construction Activity, By Value (USD Billion), 2019-2030
- Figure 7 Thailand Construction Market Share, By End User, By Value (USD Billion), 2019-2030
List of Tables
- Table 1 Thailand Construction Market Size, By Value (USD Billion), 2019-2030
- Table 2 Thailand Construction Market Share, By Material Type, By Value (USD Billion), 2019-2030
- Table 3 Thailand Construction Market Share, By Construction Activity, By Value (USD Billion), 2019-2030
- Table 4 Thailand Construction Market Share, By End User, By Value (USD Billion), 2019-2030
- Table 5 Italian-Thai Development Public Company Limited Company Overview
- Table 6 Italian-Thai Development Public Company Limited Financial Overview
- Table 7 SCG International Corporation Company Limited Company Overview
- Table 8 SCG International Corporation Company Limited Financial Overview
- Table 9 Siam Global House Public Company Limited Company Overview
- Table 10 Siam Global House Public Company Limited Financial Overview
- Table 11 Land and Houses Public Company Limited Company Overview
- Table 12 Land and Houses Public Company Limited Financial Overview
- Table 13 Dohome Public Company Limited Company Overview
- Table 14 Dohome Public Company Limited Financial Overview
- Table 15 CRC Thai Watsadu Limited Company Overview
- Table 16 CRC Thai Watsadu Limited Financial Overview
- Table 17 Drainage and Sewerage Department Company Overview
- Table 18 Drainage and Sewerage Department Financial Overview
- Table 19 Bangkok Komatsu Company Limited Company Overview
- Table 20 Bangkok Komatsu Company Limited Financial Overview
- Table 21 SPCC Joint Venture Company Overview
- Table 22 SPCC Joint Venture Financial Overview
- Table 23 Caterpillar (Thailand) Limited Company Overview
- Table 24 Caterpillar (Thailand) Limited Financial Overview
