Market Research Report
Construction in Thailand - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||345398|
|Published||Content info||43 Pages
Delivery time: 1-2 business days
|Construction in Thailand - Key Trends and Opportunities to 2024|
|Published: October 21, 2020||Content info: 43 Pages||
Thailand's construction industry has been affected by the disruption caused by the Coronavirus (COVID-19) pandemic; GlobalData predicts that the industry's output will shrink by 3.7% in 2020. Although Thailand imposed a strict lockdown until May 2020, construction activities held up relatively well, as most of the construction work progressed without much disruption. However, certain projects are expected to face delays and subsequent cost overruns, as the pandemic has caused supply chain disruptions, and led to a shortage of labor in the construction industry.
Over the remaining part of the forecast period, the industry is expected to register an average annual growth of 3.7% between 2021-2024, supported by improving investor and consumer confidence, and government investments on road, rail, renewable energy and housing projects. The government's pre-COVID-19 plans to develop transport infrastructure are also expected to drive the industry's growth over the forecast period. Under the Southern Economic Corridor (SEC) project, the government plans to invest THB106.8 billion (US$3.4 billion) towards the development of 116 projects during the period of 2019-2022. Under the Eastern Economic Corridor (EEC) scheme, the government approved four more large-scale infrastructure projects; as a result, the total number of projects approved under the EEC scheme reached five, with a combined value of THB652.5 billion (US$20.2 billion); these projects are expected to be completed by 2023.
This report provides detailed market analysis, information and insights into the Thai construction industry, including -
This report provides a comprehensive analysis of the construction industry in Thailand. It provides -