Market Size of Thailand Ride Hailing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.38 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Ride Hailing Market Analysis
Thailand Ride Hailing Market is valued at USD 2.26 billion and is expected to reach USD 4.60 billion while registering a CAGR above 9.38% during the forecast period.
During the COVID-19 pandemic outbreak, the market was severely hit because of the imposed lockdowns worldwide to curb the spread of the virus. People across Thailand avoided visiting places and reduced gatherings at public places. It reduced the ride-hailing demand across the country. Although, 2021 showcased a significant recovery post-pandemic which portrayed high demand for ride-hailing services across the country.
Recently, passenger preferences for ride-hailing services across Thailand have increased. It helped the companies to enhance the options and expand their operations to be provided in mobile applications, to retain their respective market shares in a highly competitive market.
Ride-hailing companies are working to eliminate overall vehicle carbon emissions across Thailand by converting the gasoline fleet to electric. Fleet conversion includes various direct environmental and indirect benefits for other markets. It can support the public charging infrastructure and increase individual consumer exposure to EVs. Thus, considering these factors and changing consumer preferences towards ride-hailing positively impacted the market dynamics.
