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Synopsis
In real terms, the thai construction industry’s output value recorded a compound annual growth rate (CAGR) of -0.23% during the review period (2010–2014). This was due to political and social uncertainty. However, the industry is expected to post a forecast-period (2015–2019) CAGR of 2.79% supported by economic expansion, government investment in public infrastructure and the country’s housing demand.

Stabilizing political and economic conditions, new investments in residential, infrastructure and commercial construction projects, and improvements in investor confidence are also expected to support the industry over the forecast period.

Summary
Timetric’s Construction in Thailand – Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Thai construction industry including:

- The Thai construction industry's growth prospects by market, project type and type of construction activity

- Analysis of equipment, material and service costs across each project type within Thailand

- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Thai construction industry

- Profiles of the leading operators in the Thai construction industry.

- Data highlights of the largest construction projects in Thailand

Scope
This report provides a comprehensive analysis of the construction industry in Thailand. It provides:

- Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Thailand using construction output and value-add methods

- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

- Analysis of key construction industry issues, including regulation, cost management, funding and pricing

- Detailed profiles of the leading construction companies in Thailand

Reasons To Buy
- Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies

- Assess market growth potential at a micro-level with over 600 time-series data forecasts

- Understand the latest industry and market trends

- Formulate and validate business strategies using Timetric's critical and actionable insight

- Assess business risks, including cost, regulatory and competitive pressures

- Evaluate competitive risk and success factors

Key Highlights
- Thailand is one of the most promising destinations for medical tourism in the Asia-Pacific. Tourists from the US, Canada, the UK and other European countries visit to access medical treatment at a lower cost than in their home country. The Thai government aims to establish the country as a medical hub in Asia in four major areas: medical treatment, health promotion, traditional Thai medicine and alternative medicine, and health products. In 2012, the health ministry implemented a policy with the aim to increase the medical tourism revenue in the country. Under the policy, the government aims to increase the revenue from by 2019.

- Despite political unrest and an increase in rental prices, the demand for office space has grown. According to the National Statistical Office (NSO), the permitted construction floor area for commercial and office buildings increased from 2.71 million m2 during the first quarter of 2014 to 2.74 million m2 for the same period in 2015. This demand provides an opportunity for investors and supports growth in investment in the commercial construction market. NSO expects a total of 450,000m2 of new office space to be added to the market between 2014 and 2016.

- Thailand is investing heavily in the development of rail infrastructure, and has launched several mass transit routes. Projects currently under construction are the Sukhumvit Line (Green Line) extension, which includes the expansion of the Green Line from Mo Chit to KhuKhot and from Bearing to Samutprakarn; and the 23km-long Purple Line mass rapid heavy rail project, which will connect Tao Bang Yai with Tao Poon in Bang Sue. The Bearing-Samutprakarn Green Line extension project is expected to be completed in 2017, while the Mo Chit-KhuKhot Green Line extension project is expected to be completed in 2018–2019.

- According to Airports of Thailand (AoT), the total air passenger flow increased by 25.4%, from the first half of 2014 to the same period in 2015. To cope with the increasing demand for air travel from both domestic and international passengers, the government is focusing on developing its airport infrastructure. Accordingly, three international airports in Bangkok and Phuket are now being upgraded. AoT is also planning to expand Chiang Rai, Songkhla and Chiang Mai airports to handle the growing number of air passengers. The second phase of expansion at Suvarnabhumi airport is underway, and is expected to be completed by 2017. The expansion will increase the airport’s capacity from 45.0 million passengers in 2013 to 60.0 million by 2017.

- Growth in retail industry is expected to support the construction of the retail building category over the forecast period. The retail sales are expected to increase with the increasing disposable income, tourist arrivals and rise of the middle income group. With a population of over 68.2 million, Thailand has a large consumer base, and its retail industry has the potential to expand. In May 2014, The Mall Group (TMG), a Thai mall developer, announced its plan to construct the Bangkok Mall on Bang Na-Trat Rd and the resort mall Blu Pearl in Phuket. Moreover, TMG is also planning to construct a shopping complex in Bangkok, with an anticipated investment of THB6.7 billion (US$218.0 million), and is expected to be completed in 2016.

Table Of Contents

Construction in Thailand - Key Trends and Opportunities to 2019
Table of Contents
1 Executive Summary
2 Industry Outlook
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction
3 Key Issues and Developments
4 Market Data Analysis
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential construction output by activity type
4.7.4 Residential construction value add by project type
5 Company Profile: Italian-Thai Development Public Company Ltd
5.1 Italian-Thai Development Public Company Ltd - Company Overview
5.2 Italian-Thai Development Public Company Ltd - Main Services
5.3 Italian-Thai Development Public Company Ltd - History
5.4 Italian-Thai Development Public Company Ltd - Company Information
5.4.1 Italian-Thai Development Public Company Ltd - key competitors
5.4.2 Italian-Thai Development Public Company Ltd - key employees
6 Company Profile: Pruksa Real Estate Public Company Ltd
6.1 Pruksa Real Estate Public Company Ltd - Company Overview
6.2 Pruksa Real Estate Public Company Ltd - Main Services
6.3 Pruksa Real Estate Public Company Ltd - History
6.4 Pruksa Real Estate Public Company Ltd - Company Information
6.4.1 Pruksa Real Estate Public Company Ltd - key competitors
6.4.2 Pruksa Real Estate Public Company Ltd - key employee
7 Company Profile: CH. Karnchang Public Company Ltd
7.1 CH. Karnchang Public Company Ltd - Company Overview
7.2 CH. Karnchang Public Company Ltd - Main Services
7.3 CH. Karnchang Public Company Ltd - History
7.4 CH. Karnchang Public Company Ltd - Company Information
7.4.1 CH. Karnchang Public Company Ltd - key competitors
7.4.2 CH. Karnchang Public Company Ltd - key employees
8 Company Profile: Sino-Thai Engineering and Construction Public Company Ltd
8.1 Sino-Thai Engineering and Construction Public Company Ltd - Company Overview
8.2 Sino-Thai Engineering and Construction Public Company Ltd - Main Services
8.3 Sino-Thai Engineering and Construction Public Company Ltd - History
8.4 Sino-Thai Engineering and Construction Public Company Ltd - Company Information
8.4.1 Sino-Thai Engineering and Construction Public Company Ltd - key competitors
8.4.2 Sino-Thai Engineering and Construction Public Company Ltd - key employees
9 Company Profile: TTCL Public Company Ltd.
9.1 TTCL Public Company Ltd - Company Overview
9.2 TTCL Public Company Ltd - Business Description
9.3 TTCL Public Company Ltd - Main Services
9.4 TTCL Public Company Ltd - History
9.5 TTCL Public Company Ltd - Company Information
9.5.1 TTCL Public Company Ltd - key competitors
9.5.2 TTCL Public Company Ltd - key employees
10 Appendix
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetric's Services
10.7 Disclaimer

List of Tables
Table 1: Thai Construction Output by Project Type (THB Million), 2010-2014
Table 2: Thai Construction Output by Project Type (THB Million), 2014-2019
Table 3: Thai Construction Output by Cost Type (THB Million), 2010-2014
Table 4: Thai Construction Output by Cost Type (THB Million), 2014-2019
Table 5: Thai Construction Output by Activity Type (THB Million), 2010-2014
Table 6: Thai Construction Output by Activity Type (THB Million), 2014-2019
Table 7: Thai Construction Value Add by Project Type (THB Million), 2010-2014
Table 8: Thai Construction Value Add by Project Type (THB Million), 2014-2019
Table 9: Thai Commercial Construction Output by Project Type (THB Million), 2010-2014
Table 10: Thai Commercial Construction Output by Project Type (THB Million), 2014-2019
Table 11: Thai Commercial Construction Output by Cost Type (THB Million), 2010-2014
Table 12: Thai Commercial Construction Output by Cost Type (THB Million), 2014-2019
Table 13: Thai Commercial Construction Output by Activity Type (THB Million), 2010-2014
Table 14: Thai Commercial Construction Output by Activity Type (THB Million), 2014-2019
Table 15: Thai Commercial Construction Value Add by Project Type (THB Million), 2010-2014
Table 16: Thai Commercial Construction Value Add by Project Type (THB Million), 2014-2019
Table 17: Thai Industrial Construction Output by Project Type (THB Million), 2010-2014
Table 18: Thai Industrial Construction Output by Project Type (THB Million), 2014-2019
Table 19: Thai Industrial Construction Output by Cost Type (THB Million), 2010-2014
Table 20: Thai Industrial Construction Output by Cost Type (THB Million), 2014-2019
Table 21: Thai Industrial Construction Output by Activity Type (THB Million), 2010-2014
Table 22: Thai Industrial Construction Output by Activity Type (THB Million), 2014-2019
Table 23: Thai Industrial Construction Value Add by Project Type (THB Million), 2010-2014
Table 24: Thai Industrial Construction Value Add by Project Type (THB Million), 2014-2019
Table 25: Thai Infrastructure Construction Output by Project Type (THB Million), 2010-2014
Table 26: Thai Infrastructure Construction Output by Project Type (THB Million), 2014-2019
Table 27: Thai Infrastructure Construction Output by Cost Type (THB Million), 2010-2014
Table 28: Thai Infrastructure Construction Output by Cost Type (THB Million), 2014-2019
Table 29: Thai Infrastructure Construction Output by Activity Type (THB Million), 2010-2014
Table 30: Thai Infrastructure Construction Output by Activity Type (THB Million), 2014-2019
Table 31: Thai Infrastructure Construction Value Add by Project Type (THB Million), 2010-2014
Table 32: Thai Infrastructure Construction Value Add by Project Type (THB Million), 2014-2019
Table 33: Thai Energy and utilities Construction Output by Project Type (THB Million), 2010-2014
Table 34: Thai Energy and utilities Construction Output by Project Type (THB Million), 2014-2019
Table 35: Thai Energy and utilities Construction Output by Cost Type (THB Million), 2010-2014
Table 36: Thai Energy and utilities Construction Output by Cost Type (THB Million), 2014-2019
Table 37: Thai Energy and utilities Construction Output by Activity Type (THB Million), 2010-2014
Table 38: Thai Energy and utilities Construction Output by Activity Type (THB Million), 2014-2019
Table 39: Thai Energy and utilities Construction Value Add by Project Type (THB Million), 2010-2014
Table 40: Thai Energy and utilities Construction Value Add by Project Type (THB Million), 2014-2019
Table 41: Thai Institutional Construction Output by Project Type (THB Million), 2010-2014
Table 42: Thai Institutional Construction Output by Project Type (THB Million), 2014-2019
Table 43: Thai Institutional Construction Output by Cost Type (THB Million), 2010-2014
Table 44: Thai Institutional Construction Output by Cost Type (THB Million), 2014-2019
Table 45: Thai Institutional Construction Output by Activity Type (THB Million), 2010-2014
Table 46: Thai Institutional Construction Output by Activity Type (THB Million), 2014-2019
Table 47: Thai Institutional Construction Value Add by Project Type (THB Million), 2010-2014
Table 48: Thai Institutional Construction Value Add by Project Type (THB Million), 2014-2019
Table 49: Thai Residential Construction Output by Project Type (THB Million), 2010-2014
Table 50: Thai Residential Construction Output by Project Type (THB Million), 2014-2019
Table 51: Thai Residential Construction Output by Cost Type (THB Million), 2010-2014
Table 52: Thai Residential Construction Output by Cost Type (THB Million), 2014-2019
Table 53: Thai Residential Construction Output by Activity Type (THB Million), 2010-2014
Table 54: Thai Residential Construction Output by Activity Type (THB Million), 2014-2019
Table 55: Thai Residential Construction Value Add by Project Type (THB Million), 2010-2014
Table 56: Thai Residential Construction Value Add by Project Type (THB Million), 2014-2019
Table 57: Italian-Thai Development Public Company Ltd, Key Facts
Table 58: Italian-Thai Development Public Company Ltd, Main Services
Table 59: Italian-Thai Development Public Company Ltd, History
Table 60: Italian-Thai Development Public Company Ltd, Key Employees
Table 61: Pruksa Real Estate Public Company Ltd, Key Facts
Table 62: Pruksa Real Estate Public Company Ltd, Main Services
Table 63: Pruksa Real Estate Public Company Ltd, History
Table 64: Pruksa Real Estate Public Company Ltd, Key Employee
Table 65: CH. Karnchang Public Company Ltd, Key Facts
Table 66: CH. Karnchang Public Company Ltd, Main Services
Table 67: CH. Karnchang Public Company Ltd, History
Table 68: CH. Karnchang Public Company Ltd, Key Employees
Table 69: Sino-Thai Engineering and Construction Public Company Ltd, Key Facts
Table 70: Sino-Thai Engineering and Construction Public Company Ltd, Main Services
Table 71: Sino-Thai Engineering and Construction Public Company Ltd, History
Table 72: Sino-Thai Engineering and Construction Public Company Ltd, Key Employees
Table 73: TTCL Public Company Ltd, Key Facts
Table 74: TTCL Public Company Ltd, Main Services
Table 75: TTCL Public Company Ltd, History
Table 76: TTCL Public Company Ltd, Key Employees
Table 77: Timetric Construction Market Definitions

List of Figures
Figure 1: Thai Construction Output (Real US$ 2010, Million), 2010-2019
Figure 2: Growth Matrix for Construction Output in Thailand (US$ Million), 2010-2019
Figure 3: Thai Construction Output by Project Type (THB Million), 2010-2019
Figure 4: Thai Construction Output by Cost Type (THB Million), 2010-2019
Figure 5: Thai Construction Output by Activity Type (THB Million), 2010-2019
Figure 6: Thai Construction Value Add by Project Type (THB Million), 2010-2019
Figure 7: Thai Commercial Construction Output by Project Type (THB Million), 2010-2019
Figure 8: Thai Commercial Construction Output by Cost Type (THB Million), 2010-2019
Figure 9: Thai Commercial Construction Output by Activity Type (THB Million), 2010-2019
Figure 10: Thai Commercial Construction Value Add by Project Type (THB Million), 2010-2019
Figure 11: Thai Industrial Construction Output by Project Type (THB Million), 2010-2019
Figure 12: Thai Industrial Construction Output by Cost Type (THB Million), 2010-2019
Figure 13: Thai Industrial Construction Output by Activity Type (THB Million), 2010-2019
Figure 14: Thai Industrial Construction Value Add by Project Type (THB Million), 2010-2019
Figure 15: Thai Infrastructure Construction Output by Project Type (THB Million), 2010-2019
Figure 16: Thai Infrastructure Construction Output by Cost Type (THB Million), 2010-2019
Figure 17: Thai Infrastructure Construction Output by Activity Type (THB Million), 2010-2019
Figure 18: Thai Infrastructure Construction Value Add by Project Type (THB Million), 2010-2019
Figure 19: Thai Energy and utilities Construction Output by Project Type (THB Million), 2010-2019
Figure 20: Thai Energy and utilities Construction Output by Cost Type (THB Million), 2010-2019
Figure 21: Thai Energy and utilities Construction Output by Activity Type (THB Million), 2010-2019
Figure 22: Thai Energy and utilities Construction Value Add by Project Type (THB Million), 2010-2019
Figure 23: Thai Institutional Construction Output by Project Type (THB Million), 2010-2019
Figure 24: Thai Institutional Construction Output by Cost Type (THB Million), 2010-2019
Figure 25: Thai Institutional Construction Output by Activity Type (THB Million), 2010-2019
Figure 26: Thai Institutional Construction Value Add by Project Type (THB Million), 2010-2019
Figure 27: Thai Residential Construction Output by Project Type (THB Million), 2010-2019
Figure 28: Thai Residential Construction Output by Cost Type (THB Million), 2010-2019
Figure 29: Thai Residential Construction Output by Activity Type (THB Million), 2010-2019
Figure 30: Thai Residential Construction Value Add by Project Type (THB Million), 2010-2019

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