Categories: Wire Stories

Thailand Construction Market Analysis Report 2022: Industry Expanded by an Estimated 2.7% in Real Terms in 2021, Up from Annual Growth of 1.3% in 2020 – Forecasts to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Thailand Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026” report has been added to ResearchAndMarkets.com’s offering.

Thailand’s construction industry expanded by an estimated 2.7% in real terms in 2021 – up from an annual growth of 1.3% in 2020, supported by investments in renewable energy, residential, and infrastructure construction projects.

According to the National Economic and Social Development Council (NESDC), the construction industry’s value add declined marginally by 0.9% year on year (YoY) in Q4 2021, compared with a 4.2% contraction in the previous quarter. The decline in COVID-19 infections and the easing of restrictions is expected to support the industry’s output in the coming quarters

The publisher expects the industry to expand by 4.2% this year, before recording an annual average growth rate of 3.8% over the remainder of the forecast period, between 2023 and 2026, supported by higher public spending on infrastructure, renewable and residential construction. In September 2021, the Thai government announced its plans to develop renewables in the power sector. As part of the plan, the government announced its target on non-hydroelectric renewables, with a capacity of 18.7GW planned by 2037.

The industry’s output over the forecast period will also be supported by investments in transport infrastructure projects. In October 2021, Thailand’s Ministry of Transport announced its plans to improve connectivity between the country’s capital Bangkok and neighboring provinces. Thus, under the public-private partnership (PPP) model, the government plans to invest THB230 billion ($7.77 billion) to develop the transport network in the fiscal year (FY) 2022-2023.

The plan includes the construction of 204km of new traffic lanes and road sections to Thailand’s network, as well as the 18.5km Srinagarindra-Suvarnabhumi Airport Expressway, the 16.4km Ekkachai-Ban Phaeo highway and the 18km Rangsit-Bang Pa-in highway.

Scope

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 the publisher’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 the publisher’s critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors

Key Topics Covered:

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 COVID-19 Status

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction