THAILAND CONSTRUCTION EQUIPMENT MARKET SIZE WAS VALUED AT USD 1.79 BILLION IN 2021 AND IS EXPECTED TO REACH USD 2.78 BILLION BY 2028, GROWING AT A CAGR OF 6.22%.

Thailand Construction Equipment Market Research Report includes segments by

  • Earth Moving Equipment (Excavator, Backhoe Loader, Motor Grader, and Other Earth Moving Equipment)
  • Road Construction Equipment (Asphalt Paver and Road Roller)
  • Material Handling Equipment (Forklift & Telescopic Handler, Crane, Arial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, etc.))
  • Application (Construction, Manufacturing, Mining, and Others)

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Most Exhaustive Report

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111 Pages

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2 Tables

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63 Charts

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1 Regions

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1 Countries

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20 Companies

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2 Market Segment

THAILAND CONSTRUCTION EQUIPMENTS MARKET SCOPE

Report Attribute Details
MARKET SIZE (2028) USD 2.78 BILLION
MARKET SIZE (2021) USD 1.79 BILLION
CAGR (2022-2028) 6.34%
MARKET SIZE (UNIT SHIPMENT) 21,894 units (2028)
HISTORIC YEAR 2019-2020
BASE YEAR 2021
FORECAST YEAR 2022-2028
TYPE Earth Moving Equipment (Excavator, Backhoe Loader, Motor Grader, and Other Earth Moving Equipment), Road Construction Equipment (Asphalt Paver and Road Roller), Material Handling Equipment (Forklift & Telescopic Handler, Crane, Arial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, etc.))
APPLICATION Construction, Manufacturing, Mining, and Others
KEY VENDORS Caterpillar, Komatsu, Volvo Construction Equipment, JCB, Xuzhou Construction Machinery Group Co. Ltd. (XCMG), SANY, Hyundai Construction Equipment, Kobelco, Zoomlion Heavy Industry Science & Technology Co. Ltd, Hitachi Construction machinery, LiuGong, Sumitomo Corporation Group, Kubota, Liebherr

MARKET OVERVIEW

Thailand construction equipment market was valued at USD 1.79 billion in 2021 and is expected to reach USD 2.78 billion by 2028, growing at a CAGR of 6.22% during the forecasted period.

  • The construction industry accounted for the largest share of around 52.6% in 2021 due to massive government expenditure on construction projects.
  • The rise in waste management projects will positively impact Thailand's construction equipment industry by recycling and reusing waste material; builders can save money that they would use on buying construction machinery.
  • The government has established a road map (Remap 2036) to enhance renewable energy growth. Under Remap, Solar power is expected to reach 17GW in 2036 due to decrease solar panel costs in Thailand. Government investment in the renewable energy industry enables demand in Thailand's construction equipment market.

THAILAND CONSTRUCTION EQUIPMENT MARKET SEGMENTATION

  • Earthmoving equipment captured a significant share in Thailand's overall construction equipment market due to its extensive use in construction and renewable energy projects.
  • The demand is expected to grow in the Thailand crawler excavator market due to increased government investments to build roads, highways, metros, and airports.
  • With the technology of remote operation of construction equipment, demand for construction equipment used in mining is expected to boost as it is comparatively safer to operate equipment from a distance.
  • Various automobile manufacturers in Thailand have a plan for electric vehicles in the local and Southeast ASEAN markets. So, the demand for electric vehicles positively impacts Thailand and the ASEAN construction machinery market.

KEY HIGHLIGHTS IN THE REPORT

  • The increasing government investment in renewable energy plans is expected to increase the demand for construction equipment such as all-terrain cranes and excavators. This is because they are used in setting up solar, wind, and hydroelectric power generating plants.
  • The demand for mini excavators is rising in Thailand. The unavailability of cheap labor and requirement for inner-city construction projects have triggered the demand for mini excavators in the construction equipment industry.
  • OEMs in Thailand are investing in digital transformation such as CRM & Telematics to tackle competition from Chinese manufacturers.
  • Thailand offers investors world-class infrastructure. The country has abundant business opportunities across several industries, including automotive, digital, software, electronic, and rubber. All this will drive demand in the construction equipment industry in Thailand in the forecast period.

Thailand Construction Equipment Market by Volume

Thailand Construction Equipment Market by Volume (Unit Sales) 2019–2028 

VENDOR LANDSCAPE

  • Volvo Construction equipment, Yutong, and Tadano planned cost management and provided digital solutions to the customers.
  • Komatsu invests in digital transformation and technological development such as application and CRM systems for better customer response.
  • Kubota controls 70% of the mini excavators’ market in Thailand. Other global OEMs such as Yanmar, Komatsu, Hitachi, Volvo Construction Equipment, and Kobelco also target this segment.
  • In 2020, Kubota allied with Microsoft Corporation to the digital transformation of heavy machinery.

TARGET AUDIENCE

  • Top-level management personnel of existing operators/vendors
  • Potential new entrants to the market
  • Consultants/consultancies/advisory firms
  • Professional landscaping service providers/contractors
  • Corporate and governments bodies

WHY SHOULD YOU BUY THIS REPORT?


This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:

  • Volume (Unit sales)
    • Type
    • Application
  • Value (USD)     
    • Type
    • Application
  • Gain competitive intelligence about the economic scenario, advantages in Thailand, significant projects and investments, dynamics, and market share.
  • Examples of the latest technologies.
  • Get presentation-ready format and easy-to-interpret data.
  • Enable decision-makers to make informed and profitable choices.
  • Gain expert quantitative and qualitative analysis on value/volume growth projections of the Thailand construction equipment market share.
  • Complete supply chain analysis
  • Get COVID-19 impact analysis of the market
  • Company Profile of 19 vendors and distributors

Key Vendors

  • Major Vendors: Caterpillar, Komatsu, Volvo Construction Equipment, JCB, Xuzhou Construction Machinery Group Co. Ltd. (XCMG), SANY, Hyundai Construction Equipment, Kobelco, Zoomlion Heavy Industry Science & Technology Co. Ltd, Hitachi Construction machinery, LiuGong, Sumitomo Corporation Group, Kubota, Liebherr
  • Distributor’s Profiles: Italthai Industrial Company Ltd, Leadway Heavy Machinery Company Ltd, Ariya Equipment Company Ltd, Paragon Machinery,  Metro Machinery Company Limited, AVN Motor Work 

Frequently Asked Questions

What will be the volume reached by Thailand construction equipment market in 2028?

The volume reached by the Thailand construction equipment market in 2028 is 21,894 units.

Who are some of the key players operating in the Thailand construction equipment market?

Some key players operating in the Thailand construction equipment market are Caterpillar, Komatsu, Volvo Construction Equipment, JCB, Xuzhou Construction Machinery Group Co. Ltd. (XCMG), and SANY.

What are the opportunities for new market entrants in Thailand's construction equipment industry?

The mini excavator market has a huge opportunity for new entrants due to the shortage of laborers in the agriculture industry. Also, the demand for electronic vehicles in the country provides a huge opportunity for new vendors in the market.

What are the favorable government regulations enabling heavy construction equipment sales in Thailand?

The Thailand government was optimistic for 2021 and introduced various infrastructures development projects such as the development of Eastern Economic Corridors, construction of roads, and railways in the central and southern region for smoothening the transit, which will help accelerate the trade activities across the country. The Government also aims to develop 100 smart cities by 2024. This will enable sales in the heavy construction equipment market in Thailand.

Which segment accounted for the largest share in the construction equipment industry in Thailand?

Excavators in earthmoving equipment accounted for the highest share in the construction equipment industry in Thailand.

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Thailand Construction equipment market is expected to have robust growth in the forecast period as the overall infrastructure outlook remains positive primarily due to the government’s investment. Also, the shortage of laborers has triggered the demand for automated and advanced technology in construction equipment. There is a surge in demand for mini excavators due to the lack of laborers in the agriculture industry and the rise in inner-city small development projects.  

Base Year: 2021 

Forecast Year: 2022-2028 

Scope: The report considers the present scenario of the Thailand construction equipment market and market dynamics for the forecast period 2022−2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the Thailand construction equipment market. 

Key Vendors 

  • Caterpillar 
  • Komatsu 
  • Volvo Construction Equipment 
  • JCB 
  • Xuzhou Construction Machinery Group Co. Ltd. (XCMG) 
  • SANY 
  • Hyundai Construction Equipment 
  • Kobelco 
  • Zoomlion Heavy Industry Science & Technology Co. Ltd 
  • Hitachi Construction machinery 
  • LiuGong 
  • Sumitomo Corporation Group 
  • Kubota 
  • Liebherr 

Distributors Profile 

  • Italthai Industrial Company Ltd
  • Leadway Heavy Machinery Company Ltd
  • Ariya Equipment Company Ltd
  • Paragon Machinery
  • Metro Machinery Company Limited
  • AVN Motor Work 

Market Segmentation by Moving Equipment  

  • Earth Moving Equipment 
  • Excavator 
  • Backhoe Loader 
  • Motor Grader 
  • Other Earth Moving Equipment 
  • Road Construction Equipment 
  • Asphalt Paver  
  • Road Roller 
  • Material Handling Equipment 
  • Crane  
  • Forklift and Telescopic Handler  
  • Arial Platforms (articulated boom lifts, telescopic boom lifts, scissor lifts, etc) 

Market Segmentation by Application  

  • Construction 
  • Manufacturing 
  • Mining 
  • Others 

 

Section1 – Introduction
• Market Snapshot
• Executive Summary

Section 2 – The Market Overview

Economic Scenario, Infrastructure Construction projects in Thailand region.

Section 3 – Thailand Construction Equipment (Type & Application)

5.1 Thailand Construction Equipment Market by Type (Volume & Value)
5.1.1. Earth Moving Equipment

  1. Excavator
  2. Backhoe Loader
  3. Motor Grader
  4. Other Earth Moving Equipment (Other Loaders, Bulldozer, Trencher, etc.)

5.1.2. Road Construction Equipment

  1. Asphalt Paver
  2. Road Roller

5.1.3. Material Handling Equipment

  1. Crane
  2. Forklift and Telescopic Handler
  3. Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)

5.2 Thailand Construction Equipment Market by Application (Volume & Value)

  1. Construction
  2. Mining
  3. Manufacturing
  4. Others (Power Generation and Utilities, Municipal Corporation etc)

Section 4: Technology Development

Advent of Technology

Section 5: Market Dynamics

Market Drivers, Restraints, Trends, Key Economic Regions in Thailand, Advantage Thailand, FDI in Thailand, Import/Export Trend Analysis, Supply chain. COVID-19 Impact

Section 6 – Competitive Landscape

  1. Competitive Landscape Overview
  2. Major Vendors (Caterpillar Thailand, Kobelco Thailand, Komatsu Thailand, Siam Kubota, XCMG, Zoomlion , SANY, Hyundai Construction Machinery, Volvo Construction Equipment, Hitachi Construction machinery, Sumitomo, JCB, LiuGong , Liebherr)
  3. Distributors Profile

Section 7 – Report Summary
1. Key Insights

  1. Abbreviations
  2. List of Exhibits

Section 8 – Report Scope & Definition
1. Research Methodology
2. Market Definition, Inclusion & Exclusion

LIST OF EXHIBITS

Graph-1:                   Thailand Construction Equipment Market by Volume (Unit sales) 2019–2028

Graph-2:                   Thailand Construction Equipment Market by Type 2021 Volume Share (%)

Graph-3:                   Thailand Construction Equipment Market by Volume 2019–2028 (Unit Sales)

Graph-4:                   Thailand Construction Equipment Market by Value 2019–2028 ($ MN)

Graph-5:                   Thailand Construction Equipment Market by Application 2021 (% share)

Graph-6:                   Thailand Construction Equipment Market by Type 2021 (% share)

Graph-7:                   Thailand Countries Investment by Sectors in 2019(%)

Graph-8:                   GDP of Thailand Value ($ BN) 2015–2020

Graph-9:                   Share of Infrastructure Projects in Thailand 2020

Graph-10:                 Thailand Construction Equipment Market by Type 2019–2028 (Unit Sales)

Graph-11:                 Thailand Construction Equipment Market by Type 2021 Volume Share (%)

Graph-12:                 Thailand Construction Equipment Market by Application 2018–2027 (Unit Sales) 

Graph-13:                 Thailand Earthmoving Equipment 2019–2028 (Unit Sales)

Graph-14:                 Thailand Earthmoving Equipment 2019–2028 ($MN)

Graph-15:                 Thailand Excavators Market 2019–2028 (Unit Sales)

Graph-16:                 Thailand Excavators Market 2019–2028 ($MN)

Graph-17:                 Thailand Backhoe Loaders Market 2019–2028 (Unit Sales)

Graph-18:                 Thailand Backhoe Loaders Market 2019–2028 ($ MN)

Graph-19:                 Thailand Motor Graders Market 2019–2028 (Unit Sales)

Graph-20:                 Thailand Motor Graders Market 2019–2028 ($ MN)

Graph-21:                 Thailand Other Earthmoving Equipment 2019–2028 (Unit Sales)

Graph-22:                 Thailand Other Earthmoving Equipment 2019–2028 ($MN)

Graph-23:                 Thailand Road Construction Equipment Market 2019–2028 (Unit Sales)

Graph-24:                 Thailand Road Construction Equipment Market 2019–2028 ($MN)

Graph-25:                 Thailand Road Rollers Market 2019–2028 (Unit Sales)

Graph-26:                 Thailand Road Roller Market 2019–2028 ($MN)

Graph-27:                 Thailand Asphalt Pavers Market 2019–2028 (Unit Sales)

Graph-28:                Thailand Asphalt Pavers Market 2019–2028 ($MN)

Graph-29:                Thailand Material Handling Equipment Market 2019–2028 (Unit Sales

Graph-30:                Thailand Material Handling Equipment Market 2019–2028 ($MN)

Graph-31:                 Thailand Forklifts & Telescopic Handlers Market 2019–2028 (Unit Sales)

Graph-32:                 Thailand Forklifts & Telescopic Handlers Market 2019–2028 ($MN)

Graph-33:                 Thailand Cranes Market 2019–2028 (Unit Sales)

Graph-34:                  Thailand Cranes Market 2019–2028 ($MN)

Graph-35:                  Thailand Aerial Platforms Market 2019–2028 (Unit Sales)

Graph-35:                 Thailand Aerial Platforms Market 2019–2028 ($MN)

Graph-36:                 Thailand Construction Equipment Market 2019–2028 (Unit Sales)

Graph-37:                 Thailand Construction Equipment Market 2019–2028 ($MN)

Graph-38:                 Thailand Manufacturing Construction Equipment Market 2019–2028 (Unit Sales)

Graph-39:                 Thailand Manufacturing Construction Equipment Market 2019–2028 ($ MN)

Graph-40:                 Thailand Mining Construction Equipment Market 2019–2028(Unit Sales)

Graph-41:                 Thailand Mining Construction Equipment Market 2019–2028 ($MN)

Graph-42:                 Thailand Construction Equipment Market by Others 2019–2028 (Unit Sales)

Graph-43:                 Thailand Construction Equipment Market by Others 2019–2028 ($ MN)

Graph-44:                 FDI Inward Flow ($BN)

Graph-45:                 FDI Investment in Provinces 2020 (%)

Graph-46:                 Import Value of Construction Equipment 2019 ($MN)

Graph-47:                 Export Value of Construction Equipment 2019 ($MN)

Graph-48:                 Caterpillar, Revenue 2018-2020 ($BN)

Graph-49:                 Caterpillar: Sales by Region (% share)

Graph-50:                 Caterpillar: Total Revenue by Segment 2020 (% share)

Graph-51:                 Komatsu, Net sales 2018-2020 ($BN)

Graph-52                  Komatsu, Construction, Mining, and Utility Equipment Business Sales by Region 2020(%Share)

Graph-53                  Komatsu: Breakdown of Net Sales by Segment 2020 (% Share)

Graph-54:                 Volvo: Net sales 2018–2020 ($BN)

Graph-55:                 Volvo: Sales by Region (% Share)

Graph-56:                 Volvo: Total Revenue by Segment 2020 (%)

Graph-57:                 Hyundai Construction Equipment: Revenue (2018–2020) ($BN)

Graph-58:                 Kobelco: Net Sales (2017–2020) ($BN)

Graph-59:                 Zoomlion: Revenue 2017–2020 ($BN)

Graph-60:                 Hitachi Construction Equipment: 2019–2020 ($BN)

Graph-61:                 Kubota: Revenue 2016-2020 ($BN)

Graph-62:                 Kubota: Revenue by Segment 2020 (% Share)

Graph-63:                 Kubota, Revenue by Regions 2020 (% share)

LIST OF TABLES:

Table-1:                    Sectors receiving Major FDI Investments

Table-2:                    Leading FDI Investing Countries 2020 (%)

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