Thailand Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Thailand Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Summary

GlobalData has made a downward revision to the Thai construction industry’s estimated growth for 2022, with the industry now forecast to record real output growth of 2.6% in 2022, following growth of 2.7% in 2021. The downward revision from the earlier forecast of 4.2% in 2022 has been due to the continued weakness in the industry in the first quarter of the year, owing to the rise in inflation which weighed on industry output. According to the National Economic and Social Development Council (NESDC), Thailand’s construction industry declined by 5.5% year on year (YoY) in Q1 2022, following the Y-o-Y decline of 0.8% in Q4 2021. Furthermore, total gross fixed capital formation in the construction industry fell by 5.4% YoY in Q1 2022.GlobalData expects the construction industry to register an annual average growth rate of 3.9% between 2023 and 2026, supported by investment in transportation and energy projects. In June 2022, the Thailand Board of Investment (BOI) approved a combined THB209.5 billion ($6.6 billion)-worth of investment applications in manufacturing and infrastructure projects. The growth in the construction industry is also expected to be supported by improving investor and consumer confidence and government investments on road, rail, renewable energy, and housing projects. Furthermore, investment in both the Southern Economic Corridor (SEC) and Eastern Economic Corridor (EEC) programs will bolster the growth in the sector. The value of approved developments in the EEC totals THB669 billion ($21.2 billion), with four of the corridor’s six flagship projects currently in execution and being developed through public-private partnerships (PPPs). Despite the economic disruption, the government remains hopeful private investment in the EEC will reach THB300 billion ($9.5 billion) this year or next and rise to an average of THB500 billion ($15.8 billion) annually between 2023 and 2027.The 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 (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.