Thailand Construction Market by Type (Renovation, and New Construction), by Construction Method (Traditional, Prefabricated/Modular, 3D-Printed, and Green/Sustainable), by Contractor Type (Large Contractor, Medium Contractor, and Small Contractor), and Sector (Real Estate, Commercial, Infrastructure, Industrial) – Industry Trends and Forecast, 2025–2030
Industry: Construction & Manufacturing | Publish Date: 10-Jun-2025 | No of Pages: 85 | No. of Tables: 118 | No. of Figures: 63 | Format: PDF | Report Code : CM2224
Thailand Construction Industry Overview
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.
Thailand construction market is experiencing substantial growth, driven by large-scale industrial projects such as the Laem Chabang Port expansion, the BYD electric vehicle production facility, and the U-Tapao International Airport expansion. These developments, alongside rising investments in infrastructure, particularly in energy and transportation, are propelling the sector forward.
However, regulatory complexities, including lengthy permit processes and inconsistent standards, continue to pose challenges, potentially delaying projects and increasing costs. On the other hand, the adoption of digital tools like Building Information Modeling (BIM), along with AI and IoT technologies, is offering new opportunities for enhanced project efficiency, collaboration, and resource management, further supporting the sector's growth.
Large-Scale Industrial Project Propels the Thailand Construction Market Growth
The construction market in Thailand is experiencing significant growth, driven primarily by a surge in large-scale industrial projects. Notable developments contributing to this expansion include the Laem Chabang Port Phase 3 Expansion in Chonburi, which is progressing in 2024 and will add a deep-water berth and facilities over 256 hectares to accommodate 7 million TEUs annually by 2027.
Additionally, the BYD Rayong Electric Vehicle Production Facility, a USD 900 million plant launched in July 2024, is expected to produce 150,000 electric vehicles annually. Another key project is the U-Tapao International Airport Expansion in Rayong, a USD 6.1 billion initiative set to begin in 2025, aimed at constructing a second runway and terminals to serve 60 million passengers by 2029.
Supported by the Thai Ministry of Transport and the Eastern Economic Corridor Office, these projects are significantly boosting Thailand’s maritime, automotive, and aviation infrastructure, driving continued market growth.
Increased Investment Drives the Thailand Construction Market Share
Rising investments in infrastructure are playing a crucial role in fueling the growth of Thailand’s construction market.
According to Thailand’s Board of Investment, infrastructure investments reached USD 23.62 billion in 2024, marking a 43% increase from the previous year and the highest figure in five years. The energy sector led with USD 10 billion, supported by projects like Gulf Energy’s 12 solar farms with a total capacity of 644.8 MW.
The transportation sector secured USD 8 billion, including the USD 1.4 billion Jakarta-Bangkok elevated toll road and rail upgrades such as the Bangkok-Ubon Ratchathani high-speed railway, set to progress in 2025. This upward investment trend, coupled with a 2025 budget allocation of USD 26 billion for infrastructure, is expected to continue propelling the construction market’s growth and development.
Regulatory Complexities Impede the Thailand Construction Market Expansion
Navigating regulatory complexities presents a significant challenge in the construction market. Infrastructure projects often face hurdles due to the intricate network of government regulations and permitting procedures. Infrastructure initiatives require numerous permits and approvals from governmental bodies at local, regional, and national levels. These mandates include adherence to zoning regulations, environmental assessments, compliance with building codes, safety standards, and various other regulatory requirements.
Lengthy permit acquisition processes, bureaucratic inefficiencies, and regulatory disparities among different jurisdictions can significantly prolong project timelines and inflate costs. Moreover, fluctuations in regulations or unexpected policy changes can disrupt ongoing projects and deter potential investments.
Integration of Digitalization and BIM Presents Lucrative Opportunity for the Market Expansion
The construction sector is experiencing a major digital shift, largely fueled by the growing adoption of Building Information Modeling (BIM), which is creating new growth opportunities. BIM facilitates digital design, simulation, and infrastructure management, enhancing accuracy, collaboration, and resource efficiency. In line with this transformation, ALLPLAN introduced Allplan 2024-1 in April 2024, aimed at strengthening BIM functions and improving cloud-based workflows highlighting the industry's move toward fully digital project execution. Additionally, the integration of AI, IoT, and cloud technologies is driving real-time collaboration, predictive maintenance, and streamlined facility operations.
Competitive Landscape
The 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.
Thailand Construction Market Key Segments
By Type
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Renovation
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New Construction
By Construction Method
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Traditional Construction
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Prefabricated/Modular Construction
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3D-Printed Construction
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Green/Sustainable Construction
By Type of Contractor
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Large Contractor
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Medium Contractor
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Small Contractor
By Sector
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Real Estate
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Residential
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Affordable
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Luxury
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Commercial
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Retail Buildings
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Office Buildings
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Hospitality
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Healthcare Facilities
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Educational Institutes
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Entertainment Ventures
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-
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Infrastructure
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Transportation
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Airport
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Port
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Rail
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Road
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Water and Wastewater
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Energy
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Telecommunication
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Industrial
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Manufacturing Plant
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Warehouses
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Power Plants
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Oil Refineries
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Chemical Plants
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Key Players
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Italian-Thai Development Public Company Limited (ITD)
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Sino-Thai Engineering Public Co. Ltd.
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CH. Karnchang Public Company Limited
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Thai Obayashi Corporation Limited
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Raimon Land PLC
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Nawarat Patanakarn Public Company Limited (NWR)
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Power Line Engineering Public Company Limited
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Syntec Construction Public Company Limited
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Christiani & Nielsen (Thai) Public Company Limited
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CAZ (Thailand) Co., Ltd.
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TAISEI (THAILAND) Co., Ltd.
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Unique Engineering and Construction Public Company Limited
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Helix (Thailand) Co. Ltd.
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N.S.L. Construction Co., Ltd.
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Thai Nishimatsu Construction Co., Ltd.
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2024 |
USD 106.77 Billion |
|
Revenue Forecast in 2030 |
USD 182.41 Billion |
|
Growth Rate |
CAGR of 8.9% from 2025 to 2030 |
|
Analysis Period |
2024–2030 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
15 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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