Boston, MA -- (SBWIRE) -- 07/28/2014 -- The Thai construction industry registered a compound annual growth rate (CAGR) of 6.03% during the review period (2009-2013). This growth was supported by public and private investments in Thai residential, infrastructural and commercial construction projects. The introduction of Real Estate Investment Trust (REIT) in January 2013 also helped to boost the country's construction activities. Political and social uncertainties are expected to lead to comparatively moderate growth rates over the forecast period (2014-2018) when compared with the review period. The construction industry's output is expected to grow at a forecast-period CAGR of 3.19%, supported by the government investments in infrastructure development, with an aim to become the regional hub of the proposed ASEAN Economic Council (AEC) in 2015.
- Political protests in Bangkok, the country's capital, started at the end of 2013 and continued into the first quarter of 2014 - these have had a negative impact on the country's construction industry. According to the Office of the National Economic and Social Development Board, the construction industry's value add at constant prices declined by 12.4%, from THB26.2 billion (US$852.8 million) in the first quarter of 2013 to THB22.9 billion (US$727.1 million) in the first quarter of 2014. In real value-add terms, the industry contracted by 8.5% annually in the fourth quarter of 2013, following a decline of 2.2% in the third quarter of 2013. During the first quarter of 2014, total private investments in construction declined by 7.8% from the same period in 2013, and by 4.6% during the fourth quarter of 2013. In addition, total public investments declined by 17.1% in the first quarter of 2014 and by 13.2% in the fourth quarter of 2013. Owing to political and social turbulence and deterioration in the business environment, the construction industry is expected to remain weak in the short term. However, the total outlook for construction in Thailand over the forecast period remains positive.
- According to the Ministry of Energy (MoEN), the country's energy demand is projected to increase from 160,705.5GWh in 2011 to 246,164GWh in 2020, and even 346,767GWh by 2030. In a bid to maintain the balance between supply and demand, the government approved Thailand Power Development Plan 2010-2030 (PDP2010) in 2011. The need to match generation capacity with rising demand is expected to support growth in energy infrastructure over the forecast period.
- Thailand is investing heavily in the development of rail infrastructure, and has launched several mass transit routes. Some projects are currently under construction, such as the Sukhumvit Line (Green Line) extension, which includes the expansion of 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.
- To cope with the increasing demand for air travel from both domestic and international passengers, several new airport concessions are being considered by the Thai government. Three international airports in Bangkok and Phuket are now being upgraded.
- To become the regional hub of the proposed ASEAN Economic Council (AEC) in 2015, the government is focusing more on industrial construction. To promote trade and investment in the country, the Industrial Estate Authority of Thailand (IEAT) is planning to develop four industrial parks in the country by 2015.
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This report provides a comprehensive analysis of the construction industry in Thailand. It provides:
- Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Thailand using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, 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
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Companies Mentioned in this Report: Italian-Thai Development Public Co. Ltd, Pruksa Real Estate Public Company Ltd, CH Karnchang Public Company Ltd, Sino-Thai Engineering & Construction Public Company Ltd, Christiani & Nielsen (Thai) Public Company Ltd
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