Top Insights on the Construction Market in Thailand| Technavio

Technavio has published a new market research report on the construction market in Thailand from 2018-2022. (Graphic: Business Wire)

LONDON--()--The construction market in Thailand is expected to grow at a CAGR of almost 8% during the period 2018-2022, according to a new market research study by Technavio.

The report categorizes the construction market in Thailand by end-user that includes public construction and private construction. Technavio researches estimated that nearly 60% of the market share came from public constructions in 2017 and this segment is expected to grow at a much faster pace compared to the private construction segment in the next four years.

Save more with Technavio. Buy 2 reports and get the third for free: View Technavio’s latest discounts and promotions

Market driver: rising investment in public infrastructure projects

The Thai government has been investing majorly in public infrastructure development projects in the recent years. This is expected to remain one of the major factors driving growth in the country’s construction market. In 2017, the government allocated USD 25.71 billion into new public projects such as railways, public roads and highways, airports, and shipping ports. The plans to invest in infrastructure projects correspond with the economic recovery in the ASEAN (Association of South East Asian Nations) region, boosted by the improving global economic order.

Most of the public infrastructure investments made in the country during the last three decades focused towards power and telecom projects, but the new military government that came to power in 2014 is shifting focus towards transportation. The country is further expected to invest around 4.42% of its annual GDP, as estimated in 2017, in transports infrastructure over the next ten years.

According to a senior analyst at Technavio for construction research, “During 2015, the government had announced the implementation of the Transport Infrastructure Development Master Plan 2015 to 2022 with the objective of enhancing regional connectivity and boosting competitive advantage. The government has allocated USD 55 billion for this development plan, and several projects are already in the construction phase. A total of 20 projects were approved in 2016 and a further 36 projects started implementation during 2017.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: growth in prefab constructions

Prefabricated construction includes the assembly of the components or units of a building structure that are manufactured in a controlled facility and then transported to the construction site. It refers to any building or structure whose sections have been manufactured under factory conditions and then assembled at the construction site to create the complete house, buildings or structure. Although prefabricated construction methods have been present in Thailand for the past two decades, they have only started gaining momentum during the past few years. Prefabricated constructions include both modular and panelized assemblies. The demand for these construction techniques has been growing in Thailand because of their various advantages over on-site constructions such as shorter construction durations and reduced labor.

Market challenge: construction labor and materials shortage

Thailand’s construction market is heavily dependent on foreign labor and material imports to run the industry. However, the country is currently facing challenges because of a shortage of manual labor and supply of construction materials that may hinder the future growth in the construction market. Several industries in Thailand, including the construction industry, employ many foreign laborers or migrant workers. Most of these workers are sourced from poorer South Asian countries such as Myanmar, Cambodia, and Laos. These workers are primarily brought into the country illegally and used as manual labor in the construction industry.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.

Some of the companies in the construction market in Thailand:

  • CH. Karnchang
  • TTCL Public Company
  • Sino -Thai Engineering & Construction
  • Unique Construction and Engineering
  • STP&I

Get a sample copy of the construction market in Thailand report free of cost

Access Technavio’s continuously growing construction research library and find expert analysis on hundreds of markets.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The construction market in Thailand is expected to grow at a CAGR of almost 8% during the period 2018-2022, according to Technavio.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200