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Thailand Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Best Price Guarantee Length Publisher Published Date SKU
from $1,495 46 Pages GlobalData February, 2024 GBDT18640226
Best Price Guarantee
Price from $1,495
Length 46 Pages
Publisher GlobalData
Published Date February, 2024
SKU GBDT18640226

Thailand Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028


Summary

GlobalData 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.

GlobalData 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.

GlobalData’s 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 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.


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
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
8 About GlobalData
9 Contact Us
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), 2019–28
Table 4: Thailand, Top Commercial Construction Projects by Value
Table 5: Thailand, Industrial Construction Output by Project Type (Real % Change), 2019–28
Table 6: Thailand, Top Industrial Construction Projects by Value
Table 7: Thailand, Infrastructure Construction Output by Project Type (Real % Change), 2019–28
Table 8: Thailand, Top Infrastructure Construction Projects by Value
Table 9: Thailand, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28
Table 10: Thailand, Top Energy and Utilities Construction Projects by Value
Table 11: Thailand, Institutional Construction Output by Project Type (Real % Change), 2019–28
Table 12: Thailand, Top Institutional Construction Projects by Value
Table 13: Thailand, Residential Construction Output by Project Type (Real % Change), 2019–28
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: GlobalData 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), 2022–28
Figure 2: Thailand, Construction Output by Sector (Real % Change), 2022–24 and 2025–28
Figure 3: Thailand, Risk Summary
Figure 4: Thailand, Risk Regional Comparison
Figure 5: Thailand, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28
Figure 6: Thailand, Construction Output Value, by Sector (Real, $ Million), 2019–28
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, Construction Projects Momentum Index
Figure 10: South-East Asia, Construction Projects Momentum Index
Figure 11: Thailand, Commercial Construction Output by Project Type (Real, $ Million), 2019–28
Figure 12: Thailand, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 13: Thailand, Foreign Tourist Arrivals, In Thousands
Figure 14: Thailand, Wholesale and Retail Trade Value Add (THB Million, 2002 Constant Prices)
Figure 15: Thailand, Accommodation and Food Service Value Add (THB Million, 2002 Constant Prices)
Figure 16: Thailand, Average Retail Sales Index (2002=100)
Figure 17: Thailand, Industrial Construction Output by Project Type (Real, $ Million), 2019–28
Figure 18: Thailand, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: Thailand, Industrial Value Add (THB Million, 2002 Constant Prices)
Figure 20: Thailand, Exports of Goods at Constant Market Prices (THB Million, Seasonally Adjusted)
Figure 21: Thailand, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28
Figure 22: Thailand, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 23: Thailand, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28
Figure 24: Thailand, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 25: Thailand, Value Add of Electricity, Gas, Steam and Air Conditioning Supply (THB Million, 2002 Constant Prices)
Figure 26: Thailand, Value Add of Water Supply, Sewerage, Waste Management, and Remediation Activity (THB Million, 2002 Constant Prices)
Figure 27: Thailand, Institutional Construction Output by Project Type (Real, $ Million), 2019–28
Figure 28: Thailand, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Thailand, Health Value Add (THB Million, 2002 Constant Prices)
Figure 30: Thailand, Education Value Add (THB Million, 2002 Constant Prices)
Figure 31: Thailand, Residential Construction Output by Project Type (Real, $ Million), 2019–28
Figure 32: Thailand, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 33: Thailand, Residential Land Development Licenses (Number)
Figure 34: Thailand, Real Estate Value Add (THB Million, 2002 Constant Prices)
Figure 35: Thailand, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 36: Thailand, Headquarters of Key Consultants (% of Total Project Pipeline)

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