Thailand Construction Market is Expected to Reach USD 182.41 Billion by 2030

Surge in large-scale industrial projects in the region is driving the Thailand construction market growth during the forecast period.

The Thailand Construction Market size was valued at USD 106.77 billion in 2024, and is projected to grow to USD 119.04 billion by 2025. Additionally, the industry is expected to continue its growth trajectory, reaching USD 182.41 billion by 2030, with a CAGR of 8.9% from 2025 to 2030, according to new research by Next Move Strategy Consulting.

The construction market in Thailand is undergoing strong expansion, largely propelled by the development of major industrial infrastructure projects. Key drivers include the Laem Chabang Port Phase 3 Expansion in Chonburi, which is advancing in 2024 and will feature a new deep-water berth and facilities across 256 hectares to handle 7 million TEUs annually by 2027. 

The launch of the USD 900 million BYD Rayong Electric Vehicle Production Facility in July 2024 is expected to produce 150,000 electric vehicles per year, while the USD 6.1 billion U-Tapao International Airport Expansion in Rayong, commencing in 2025, will add a second runway and terminals to support up to 60 million passengers by 2029. These large-scale initiatives, supported by the Thai Ministry of Transport and the Eastern Economic Corridor Office, are significantly enhancing the country's maritime, automotive, and aviation capabilities and contributing to sustained market growth.

However, regulatory complexities continue to present obstacles for the sector. Construction and infrastructure projects frequently encounter delays due to a complicated regulatory environment, which requires multiple permits and clearances at different government levels. 

Compliance with zoning laws, environmental regulations, safety standards, and building codes can create administrative bottlenecks, increasing costs and extending project timelines. Moreover, inconsistencies across jurisdictions, bureaucratic inefficiencies, and shifting policy frameworks can introduce additional uncertainties that hinder ongoing development and discourage investment.

On the other hand, digital transformation is emerging as a pivotal opportunity for the market. The adoption of Building Information Modeling (BIM) is accelerating the shift toward digitalized construction, offering improvements in planning precision, cross-functional collaboration, and resource management. ALLPLAN’s release of Allplan 2024-1 in April 2024 underscores this shift by enhancing BIM capabilities and promoting cloud-based project execution. Alongside BIM, the integration of AI, IoT, and cloud computing is enabling real-time data sharing, predictive asset maintenance, and more efficient facility management, collectively opening new avenues for innovation and productivity within Thailand's construction industry.

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Several market players operating in the Thailand construction industry include Italian-Thai Development Public Company Limited (ITD), Sino-Thai Engineering Public Co. Ltd., CH. Karnchang Public Company Limited, Thai Obayashi Corporation Limited, Raimon Land PLC, Nawarat Patanakarn Public Company Limited (NWR), Power Line Engineering Public Company Limited, Syntec Construction Public Company Limited, Christiani & Nielsen (Thai) Public Company Limited, CAZ (Thailand) Co., Ltd., TAISEI (THAILAND) Co., Ltd., Unique Engineering and Construction Public Company Limited, Helix (Thailand) Co. Ltd., N.S.L. Construction Co., Ltd., Thai Nishimatsu Construction Co., Ltd. and others, and others.

Key Insights from the Thailand Construction Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Thailand construction market trends is provided in the report.

• The value chain analysis in the Thailand construction market study provides a clear picture of the roles of each stakeholder.

• The market share of key players in the Thailand construction market is provided in the report along with their competitive analysis.