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Construction industry in Thailand - statistics & facts

The construction industry has proved to be a major contributor to the economy in Thailand. It made up around 425 billion Thai baht in the country’s GDP in the past year. Construction works in Thailand are divided into two categories - the public sector and the private sector. Generally, infrastructure takes up almost 80 percent of the public sector’s construction works. Apart from that, it includes other public buildings and residences of officials. In addition, the market value of the public sector’s construction was forecast to increase in the next few years. As for the private sector’s construction works, more than half are the construction of residences, while the remaining are made up of industrial buildings and commercial buildings. Unlike the public sector, the private sector’s construction market was forecast to decrease in 2022.

Construction material market

In Thailand, basic construction supplies such as cement and construction steel are essential materials. In 2020, construction steel and cement together held the biggest share in the construction material market, accounting for 40 percent combined. This was followed by ready-mixed concrete. However, ceramic tiles had the highest year-on-year growth in terms of domestic sales as of the first quarter of 2021. In contrast, the COVID-19 pandemic was expected to impact the retail trade of construction materials in Thailand heavily, resulting in a decline of the construction material retail market in 2020. It was however estimated that this market would start to recover as the demand rebounds.

Leading construction contractors in Thailand

As of 2018, there were approximately 80 thousand registered construction contractors in Thailand, out of which only 55 played a major role, accounting for about half of the income. These key players in the construction industry are registered in the Stock Exchange of Thailand. The three leading construction companies are Italian Thai Development PCL, Ch. Karnchang PCL, and Sino Thai Engineering and Construction PCL. In 2020, Italian Thai (ITD) generated the highest revenue in the market, amounting to around 55 billion Thai baht. The company also held the largest market share in the construction industry in the previous year.

Impact from COVID-19

Like most of the world. the pandemic heavily impacted the Thai economy. Interestingly, most of the Thai construction contractors were not as affected as ongoing construction projects. This was primarily due to binding contracts and the possibility of continued work. New constructions, on the other hand, in heavily-affected markets were held off or delayed. As for the construction works of the public sector, the Thai government planned to promote public construction investments such as public utilities, communication, and irrigation. The aim was to create more job opportunities and encourage the growth of construction material trading. This plan reflected in growth for this sector of the construction industry and is forecast to further grow in the next year.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Jan 11, 2023

Key insights

GDP from construction in Thailand
439.13bn THB
Number of permitted new construction units in Thailand
280.72k
Number of permitted construction units for alteration and expansion in Thailand
4.14k
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