Market share of leading construction contractors Thailand 2022

In 2022, the share of leading construction contractors in Thailand was highest for Italian Thai (ITD) , with 38.4 percent of the market. This was followed by Sino-Thai with a share of 17.3 percent. These contractors are the major driving force of the Thai construction industry. 

The key players in the construction industry

The top three players in Thailand’s construction industry include Italian-Thai Development Public Company Limited, Sino-Thai Engineering Public Company Limited, and CH. Karnchang Public Company Limited. These companies are mainly responsible for the construction of infrastructure in major areas in Thailand, such as the BTS sky trains, the MRT underground metro trains and the airport rail link. They are also involved in general building construction projects as well as environmental, power and energy constructions. Despite Italian-Thai having the highest market share among the major contractors, it was forecast that Sino-Thai Engineering had the highest growth in revenue in recent years. Besides these three leading contractors, there were over 100 thousand construction contractors in the country in that year.

The competitive background of Italian-Thai Development PCL

The company started as a salvaging company, expanding in later years to be involved in the construction of Bangkok’s BTS sky trains. Although the company has the highest market share among the major contractors in Thailand, it still recorded losses in recent years. Despite the downturn, it remains the largest contractor in Thailand and has participated in major construction projects, which include the Suvarnabhumi Airport. The revenue of Italian-Thai Development PCL in the first half of 2021 amounted to almost 30 billion Thai baht, overtaking CH Karnchang and Sino-Thai Engineering.