DUBLIN–(BUSINESS WIRE)–The “Construction in Thailand – Key Trends and Opportunities to 2025 (H2 2021)” report has been added to ResearchAndMarkets.com’s offering.
Thailand’s construction industry was not as severely affected by the outbreak of the COVID-19 pandemic as some of its regional peers, with the industry registering an annual growth of 2.3% in real terms in 2020 – an improvement on growth of 1.6% that the construction industry recorded in 2019.
The industry continued to remain strong in the first half of 2021, supported by strong export demand and investment in the infrastructure and energy and utilities sector. According to the Office of the National Economic and Social Development Council (NESDC), the construction industry’s value-add increased by 8.6% year on year (YoY) in the first half of 2021.
Despite the strong growth in the first half of the year, the publisher expects construction industry to expand by 5.3% in real terms in 2021, with growth expected to decelerate over the second half of the year due to a surge of infections since July 2021, resulting in the government tightening restrictions.
Growth will continue to be supported by government plans to attract foreign investment, revive the tourism industry, develop affordable housing and increase investment on transport and renewable energy infrastructure. In the short term, however, the emergence of the third wave of COVID-19 will hinder construction activities. According to the World Bank, if the government’s objective to vaccinate 70% of the population were to be delayed, then domestic mobility, consumption and tourism would be significantly affected.
Over the remainder of the forecast period, the industry is expected to register an average annual growth of 4% between 2022 and 2025, supported by improving investor and consumer confidence and government investments on road, rail, renewable energy and housing projects.
Further supporting growth will be investment in both the Southern (SEC) and Eastern Economic Corridor (EEC) programmes. The value of approved developments in the EEC totals THB669 billion (US$20.7 billion), with four of the corridor’s six flagship projects currently in execution, and being developed through Public-Private Partnerships (PPP).
Despite the economic disruption, the government remains hopeful private investment in the EEC will reach THB300 billion (US$9.2 billion) this year or next and rise to an average of THB500 billion (US$15.3 billion) annually between 2023 and 2027.
In the SEC, the government plans to invest THB106.8 billion (US$3.4 billion) towards the development of 116 projects between 2019 and 2022.
Scope
Reasons to Buy
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/awlgze
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