Thailand Construction Equipment Market Introduction and Overview
According to SPER Market Research, the Thailand Construction Equipment Market is estimated to reach USD 3.18 billion by 2033 with a CAGR 5.28%.
The report includes an in-depth analysis of the Thailand Construction Equipment Market, including market size and trends, product mix, distribution channels, and supplier analysis. The term "construction equipment" describes a wide range of tools and automobiles used by the construction sector to support different jobs and activities. This equipment includes a broad variety of instruments and devices made to perform various tasks related to construction, such as grading and excavation as well as lifting and material transportation. Concrete mixers, cranes, loaders, bulldozers, and excavators are a few examples.
- In June 2023, Volo Construction Equipment unveiled the first totally electric construction machinery in Southeast Asia, marking a revolutionary debut into the market. This noteworthy advancement demonstrates the company's dedication to promoting environmentally friendly building methods in the sector. By 2030, Volo Construction Equipment wants to sell 35% of its machines that run on electricity. This is an ambitious aim.
- The TM-ZX1205HRS loader crane was released into the Thai market in January 2023 by Tadano Ltd. With a maximum lifting capability of 12 tons, this state-of-the-art loader crane is rather impressive. The development of this high-capacity crane by Tadano is indicative of their commitment to satisfying the rigorous lifting requirements of Thailand's construction industry.
Market Opportunities and Challenges
Opportunities: The country's real estate and construction industries are predicted to expand and grow, and factors including the fast urbanization and industrialization of the nation, coupled with the growing government investments in infrastructure development, should boost market demand. The market's participants often find themselves with new prospects as a result of government efforts promoting infrastructure development and the growing use of automated and electric technology. Because of the increasing intelligence of the construction sector, the market is anticipated to rise significantly over the forecast period.
Challenges: Thailand's market for construction equipment confronts a number of important obstacles that limit its potential for expansion and effectiveness. The construction industry's inherent unpredictability, which is impacted by shifting economic conditions and government infrastructure investment, is a significant obstacle. The market also faces challenges with respect to the cost and accessibility of high-quality machinery, which are frequently exacerbated by disruptions in the supply chain and import taxes. Many businesses face financial difficulty as a result of the constant need to invest in new equipment and training due to the quick speed of technological improvements.
Market Competitive Landscape
At present, Komatsu Ltd., Sany Group, XCMG, Hitachi Construction Machinery Ltd., and Hyundai Construction Equipment Ltd. are among the major players that dominate the Thai construction equipment market. In order to enhance their market positions and sustain a competitive advantage, these industry giants engage in strategic manoeuvres like mergers and acquisitions in addition to introducing novel products.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Machinery Type, By Propulsion
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| Regions covered | Eastern region, Western region, Southern region, Northern region
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| Companies Covered | Caterpillar Inc., CNH Industrial N.V., Hitachi Construction Equipment Co. Ltd, Hyundai Construction Equipment Co. Ltd, JC Bamford Excavators Ltd (JCB), Kobelco Construction Machinery, Komatsu Ltd, Liebherr Group, SANY Group, XCMG Group,
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COVID-19 Impact on Thailand Construction Equipment Market
The COVID-19 epidemic significantly affected Thailand's construction equipment market, upending several aspects of the sector. Due to lockdowns, travel restrictions, and labor shortages, the pandemic initially caused major delays in construction projects. This in turn slowed down demand for construction machines. Disruptions in the supply chain made these problems worse by creating shortages and driving up the price of raw materials and equipment parts. Further slowing market growth was the financial strain on construction companies and the decline in government funding for infrastructure projects.
Key Target Audience:
- Construction Companies
- Civil Engineering Firms
- Government and Municipal Bodies
- Real Estate Developers
- Mining and Quarrying Companies
- Infrastructure Development Agencies
- Rental and Leasing Companies
- Contractors and Subcontractors
Our in-depth analysis of the Thailand Construction Equipment Market includes the following segments:
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By Machinery Type:
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Cranes
Telescopic Handlers
Excavators
Loaders and Backhoe
Motor Graders
Others
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By Propulsion:
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Internal Combustion Engine
Electric and Hybrid
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Key Topics Covered in the Report:
- Thailand Construction Equipment Market Size (FY’2024-FY’2033)
- Overview of Thailand Construction Equipment Market
- Segmentation of Thailand Construction Equipment Market By Machinery Type (Cranes, Telescopic Handlers, Excavators, Loaders and Backhoe, Motor Graders, Others)
- Segmentation of Thailand Construction Equipment Market By Propulsion (Internal Combustion Engine, Electric and Hybrid)
- Expansion Analysis of Thailand Construction Equipment Market
- Problems and Obstacles in Thailand Construction Equipment Market
- Competitive Landscape in the Thailand Construction Equipment Market
- Impact of COVID-19 and Demonetization on Thailand Construction Equipment Market
- Details on Current Investment in Thailand Construction Equipment Market
- Competitive Analysis of Thailand Construction Equipment Market
- Prominent Players in the Thailand Construction Equipment Market
- SWOT Analysis of Thailand Construction Equipment Market
- Thailand Construction Equipment Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Thailand Construction Equipment Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Thailand Construction Equipment Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Thailand Construction Equipment Market
7. Thailand Construction Equipment Market, By Machinery Type (USD Million) 2020-2033
7.1. Thailand Construction Equipment Market Size, Share and Forecast, By Machinery Type, 2020-2026
7.2. Thailand Construction Equipment Market Size, Share and Forecast, By Machinery Type, 2027-2033
7.3. Cranes
7.4. Telescopic Handlers
7.5. Excavators
7.6. Loaders and Backhoe
7.7. Motor Graders
7.8. Others
8. Thailand Construction Equipment Market, By Propulsion (USD Million) 2020-2033
8.1. Thailand Construction Equipment Market Size, Share and Forecast, By Propulsion, 2020-2026
8.2. Thailand Construction Equipment Market Size, Share and Forecast, By Propulsion, 2027-2033
8.3. Internal Combustion Engine
8.4. Electric and Hybrid
9. Thailand Construction Equipment Market Forecast, 2020-2033 (USD Million)
9.1. Thailand Construction Equipment Market Size and Market Share
10. Thailand Construction Equipment Market, By Region, 2020-2033 (USD Million)
10.1. Thailand Construction Equipment Market Size and Market Share By Region (2020-2026)
10.2. Thailand Construction Equipment Market Size and Market Share By Region (2027-2033)
10.3. Eastern Region
10.4. Western Region
10.5. Northern Region
10.6. Southern Region
11. Company Profile
11.1. Caterpillar Inc.
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. CNH Industrial N.V.
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Hitachi Construction Equipment Co. Ltd
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Hyundai Construction Equipment Co.Ltd
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. JC Bamford Excavators Ltd (JCB)
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Kobelco Construction Machinery
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Komatsu Ltd
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Liebherr Group
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. SANY Group
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. XCMG Group
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. Reference Links
14. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
