Thailand Construction Equipment Market Research Report 2025-2030

The Thailand construction equipment market size is expected to grow at a CAGR of 4.65% from 2024 to 2030.

KEY HIGHLIGHTS

• Earthmoving equipment accounted for the largest market share in the Thailand construction equipment market in 2024. Excavators in the earthmoving segment accounted for the largest share in 2024. The country's investment in developing its public infrastructure drives the growth of the Thailand earthmoving market.
• On the other hand, demand for material handling equipment is also growing due to the booming manufacturing sector, driving the development of warehouses and logistics parks across the country.
• In January 2025, AKM Meadville announced the development of its new factory located in the Logana Industrial Park in Ayutthaya Province.
• The country has significantly invested in the modernization of ports with oil and gas projects, which is expected to drive the demand for cranes in 2025.
• In 2024, the earthmoving segment accounted for a significant share of the Thailand construction equipment market. The segment is estimated to reach 13.3 thousand units by 2030.
• The road construction equipment segment is estimated to reach USD 39.7 million by value by 2030.
• Road roller sales are high in Thailand in response to the rising renovation and expansion of transport networks. In June 2025, the Thai Department of Highways planned to upgrade two major national highways to 4 lanes in preparation for the opening of the 5th Thai Lao Friendship Bridge (linking Bueng Kan, Thailand, to Bolikhamxay, Laos).
• Construction equipment utilization in the construction industry by end-user (volume) has the largest market share in 2024.
• In Q4 2024, the construction sector expanded by 18.3%, continuing from a 15.2% increase in the previous quarter, Q3 2024. This growth was primarily driven by public sector construction, which grew significantly by 40.8%. The expansion was mainly due to a 67.9% increase in government construction, while state-owned enterprise construction grew by 3.4%. Such factors are projected to support the Thailand construction equipment market growth.
• Thailand's real estate market is experiencing a shift in investment priorities, as developers and investors adapt to rising mortgage rejection rates, evolving consumer behaviors, and growing demand for alternative assets. With homeownership becoming less accessible, flexible rental properties and co-living spaces are emerging as major opportunities for developers.

THAILAND CONSTRUCTION EQUIPMENT MARKET TRENDS & DRIVERS

Rising Demand for Electric Construction Equipment

• Construction equipment manufacturers are making continuous investments in launching battery-powered equipment in the Southeast Asin market, including Thailand. In line with initiatives like Thailand 4.0, construction contractors are actively seeking alternatives to conventional diesel-powered construction machinery.
• In 2020, SDLG launched the E660FL and E6135F compact excavators in Thailand to meet the country's demand for electric construction equipment. E660FL is powered by a 38.3 kW engine, has a bucket capacity of 0.22 m3, and a maximum excavation force of 45 kN. The E6135F is powered by a 73kW engine.

Increased Focus on Environment-Friendly Construction Equipment

• The demand for environment-friendly construction equipment is increasing, especially to support sustainable projects, such as green infrastructure development, renewable energy, and environmental rehabilitation.
• The Thai government and private sector are also working together with Japanese firms on research and development initiatives involving clean hydrogen production from renewable energy.
• In addition, in May 2025, the Electricity Generating Authority of Thailand (EGAT), the Embassy of Sweden, and Business Sweden organized the "Pioneer the Possible Thailand 2025", focusing on green transition, particularly heading the use of hydrogen, biofuels, and solar technologies.

Increased Investments in the Eastern Economic Corridor

• Thailand's Eastern Economic Corridor (EEC) initiative is transforming the country's construction sector, encouraging the construction equipment in the country and boosting the Thailand construction equipment market.
• The EEC project consists of several initiatives, including the high-speed rail project connecting three airports, the Laem Chabang Port Phase 3 project, the U-Tapao Airport and Eastern Aviation City project, and the Map Ta Phut Industrial Port Project Phase 3.
• As of 2022, 30 XCMG equipment, including excavators, loaders, and road machinery, were being utilized in the Suvarnabhumi Airport expansion project, one of Thailand's Eastern Economic Corridor plans.

Manufacturing Sector Recovery and Increasing Exports

• In May 2025, Thailand's manufacturing production index rose by 1.88% compared to May 2024. Thailand's revival in the manufacturing sector is expected to directly fuel demand for construction equipment, such as forklifts, telescopic handlers, and cranes throughout the nation.
• Thailand's automotive sector saw its first production increase in 21 months in May 2025, with output reaching 139,186 units, an increase of 10.32% annually, driven by a surge in battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs).
• With the recovery in the manufacturing sector, the country is witnessing the development of various manufacturing plants in Thailand. For instance, in June 2025, Quasar Medical announced the development of its newest manufacturing facility in Thailand.

INDUSTRY RESTRAINTS

Slowdown in the Real Estate Sector

• Thailand's property sector is grappling with persistent challenges. Oversupply remains one of the critical challenges, particularly in low-rise housing such as detached houses and townhouses.
• The first quarter of 2025 saw major losses in its real estate sector. This is evident in the average gross profit margin of the real estate industry, which has fallen to 28%, down from the normal minimum of 30% and its all-time high of 35%.
• Prices of property have increased most steeply in places like Phra Khanong, Bang Na, Suan Luang, and Prawet in Bangkok, at between $0.23 million and $0.31 million (7.51 to 10 million baht).

Economic Slowdown as a Result of the U.S. Tariffs

• Thailand is one of the first 14 countries to be notified and charged an import tariff of 36% (operational from 1st August 2025), which, excluding Laos, Myanmar, and Cambodia, is the highest tariff rate in ASEAN and among the 14 countries mentioned above. The U.S. president, in continuation of the imposition, also threatened that if Thailand increases import tariffs from the U.S., it will impose an equal number of additional tariffs.
• If Thailand's import tariffs to the U.S. market are higher than those of competitors such as Vietnam and Indonesia (which are subject to a 20% tariff), this will have a significant impact on the volume and value of exports. The consequences of the U.S.'s import tariff on Thailand will reduce exports, coupled with the decline in foreign direct investment, which will lead to a decrease in investment in Thailand.

VENDOR LANDSCAPE

• Caterpillar, Komatsu, Volvo CE, Hitachi Construction Machinery, and SANY are the front-runners in the Thailand construction equipment market. These companies have strong market share and offer diverse sets of equipment in the Thailand market.
• Tadano, XCMG, Kubota, Zoomlion, HD Hyundai Construction Equipment, Kobelco, Bomag, Kato Works, and Toyota Material Handling are niche players in the Thailand construction equipment market. These companies offer low product diversification and have a strong presence in the country's market.
• Yanmar, Manitou, Liebherr, JCB, CNH Industrial N.V., Sumitomo, DEVELON, and LiuGong are emerging in the Thailand construction equipment market. These companies are introducing new technologically advanced products to challenge the market share of market leaders in the country's market.
• XGMA, Airman, Sakai, Hidromek, and Ammann are stragglers that have low product diversification in the Thailand construction equipment market; these companies are lagging in adopting new technologies used in construction equipment.
• In 2024, Zoomlion celebrated the grand opening of its eighth service center in Phitsanulok, Thailand, marking a significant step in the company's strategy to strengthen its market presence and provide high-quality, efficient services to local customers.
• In January 2025, Volvo CE introduced the New Generation EC210 excavator into the Thailand construction equipment market, through its new dealer CHAIRATCHAKARN (Bangkok) Co., Ltd (CHAB) in the country. The new excavator offers up to 15% fuel savings through improved hydraulics and regulated engine speed, reducing operating costs.

Prominent Vendors

• Caterpillar
• Komatsu
• Volvo Construction Equipment
• Hitachi Construction Machinery
• Liebherr
• SANY
• Xuzhou Construction Machinery Group (XCMG)
• JCB
• Kobelco
• Zoomlion Heavy Industry Science & Technology Co., Ltd.

Other Prominent Vendors

• HD Hyundai Construction Equipment Co.,Ltd.
• Liugong Machinery Co., Ltd.
• SUMITOMO CONSTRUCTION MACHINERY CO., LTD.
• YANMAR HOLDINGS CO., LTD.
• DEVELON
• Tadano Ltd.
• Hidromek
• Manitou
• BOMAG GmbH
• KATO WORKS CO., LTD.
• SAKAI HEAVY INDUSTRIES, LTD.
• Xiamen XGMA Machinery Company Limited
• CNH Industrial N.V.
• Toyota Material Handling International
• AIRMAN CORPORATION
• AMMANN GROUP
• KUBOTA Corporation

Distributors Profiles

• Leadway Heavy Machinery Co., Ltd.
• Ariya Equipment CO., LTD.
• AVN Motorworks Co., Ltd.
• Promech Resources
• Sahasin Equipment Co., Ltd.
• OCR Company Limited
• Pin Siam Company Limited

SEGMENTATION & FORECASTS

Segmentation by Type

• Earthmoving Equipment
  • Excavator
  • Backhoe Loaders
  • Wheeled Loaders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers, Motor Graders)
• Road Construction Equipment
  • Road Rollers
  • Asphalt Pavers
• Material Handling Equipment
  • Crane
  • Forklift & Telescopic Handlers
  • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
• Other Construction Equipment
  • Dumper
  • Tipper
  • Concrete Mixer
  • Concrete Pump Truck

Segmentation by End Users

• Construction
• Mining
• Manufacturing
• Others (Power Generation, Utilities, Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

KEY QUESTIONS ANSWERED:

1. What are the trends in the Thailand construction equipment market?

2. Which are the major distributor companies in the Thailand construction equipment market?

3. What is the growth rate of the Thailand construction equipment market?

4. Who are the key players in the Thailand construction equipment market?

5. How big is the Thailand construction equipment market?