Market Size of Thailand Construction Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.91 Billion |
| Market Size (2029) | USD 2.59 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Construction Equipment Market Analysis
The Thailand Construction Equipment Market size is estimated at USD 1.91 billion in 2024, and is expected to reach USD 2.59 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
Over the long term, Factors such as rapid urbanization and industrialization, followed by rising government investments in the development of infrastructure and expansion and growth activities of the real estate and construction companies across the country, are expected to enhance demand in the market.
Government initiatives encouraging infrastructure activities and the rising adoption of technologically advanced machinery, both electrified and autonomous, tend to offer new opportunities for players operating in the market. The construction industry is getting smarter, which in turn is likely to witness major growth for the market during the forecast period.
Thailand's construction expenditure has evolved along with the country's economy. Following the acceleration of massive infrastructure spending over the past three years, public investment has helped Thailand's construction industry expand.
With the rise in road construction activities, the demand for construction machinery has been increasing, which is supported by importing these machines, which in turn is anticipated to enhance the demand for construction equipment across the country in the coming years.
