Thailand Construction Equipment Market Size Expands at CAGR of 6.1% to Reach USD 2.87 Billion by 2030

Published | 28 August 2024

Thailand Construction Equipment Market is flourishing because of the growing infrastructure development and urbanization and real estate boom.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Thailand Construction Equipment Market size at USD 1.89 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Thailand Construction Equipment Market size to expand at a CAGR of 6.10% reaching a value of USD 2.87 billion by 2030. The growing demand for residential and commercial spaces, along with the country's rapidly increasing population, is one of the primary growth factors driving Thailand construction equipment market. Furthermore, it is projected that the Thailand construction equipment market will be driven during the forecast period by the increasing incorporation of cutting-edge technologies, including artificial intelligence (AI) and the Internet of Things (IoT), to enhance the performance of these devices.

Opportunity - Increasing number of construction projects

The rising foreign direct investments (FDIs) towards the establishment of production and manufacturing plants in Thailand. The infrastructure segment also covers a substantial market share owing to the rising government investment in the construction of infrastructure projects, such as airports, hospitals, and roads. The residential segment is also growing at a high rate owing to the rising demand for residential facilities due to the increasing population.

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Engines with 5–10L Capacity Lead Construction Equipment Market

The engine capacity between 5 liters and 10 liters segment holds the largest share in Thailand Construction Equipment Market. The growth of the segment is mainly attributed to the wide use of construction equipment with this engine capacity range in commercial and infrastructural projects. The other major segments based on engine capacity include less than 5 liters and more than 10 liters.

Competitive Landscape

Thailand Construction Equipment market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Caterpillar Inc., SANY Group, Komatsu Ltd, Hitachi Construction Equipment Co. Ltd, Hyundai Construction Equipment Co. Ltd, Kobelco Construction Machinery, XCMG Group, Zoomlion Heavy Industry Science and Technology Co., Ltd, Liebherr Group, CNH Industrial N.V., and JC Bamford Excavators Ltd (JCB). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Thailand Construction Equipment Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Thailand Construction Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Thailand Construction Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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