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Over 2022 to 2024, the warehousing industry will improve with recovery in manufacturing and exports, expansion in the online retail and logistics sectors, development of new projects in industrial estates, special economic zones, and the EEC, and investment by the government in infrastructure and transportations networks that will increase regional connectivity

Construction contractors can look forward to an improving business environment from 2024-2026, with growth driven by an expected 3.0-4.0% annual expansion in construction spending. This will be led by 3.5-4.0% growth in government spending on construction, guided largely by the Action Plan on Thailand Logistics Development 2023-2027. The focus will therefore be on megaprojects, most notably those connected to the development of the Eastern Economic Corridor (EEC).

Total new sales and leases of land on industrial estates is forecast to expand by some 4.0-5.0% annually over 2025-2027, or by approximately 7,000 rai per year. Tailwinds lifting the market will come from: (i) gradual recovery of the world economy and improved investor sentiment overseas, (ii) the diversion of investment away from the major economies, most obviously China, and towards the ASEAN zone; (iii) an uptick in the pace of work on government-backed infrastructure projects, especially in the EEC; and (iv) government tax and non-tax incentives

Total new sales and leases of land on industrial estates is forecast to expand by some 4.0-5.0% annually over 2025-2027, or by approximately 7,000 rai per year. Tailwinds lifting the market will come from: (i) gradual recovery of the world economy and improved investor sentiment overseas, (ii) the diversion of investment away from the major economies, most obviously China, and towards the ASEAN zone; (iii) an uptick in the pace of work on government-backed infrastructure projects, especially in the EEC; and (iv) government tax and non-tax incentives

The construction materials industry will enjoy an improving outlook over 2023 to 2025 thanks to better conditions on both domestic and international markets. (i) Overall domestic expenditure on construction is forecast to expand by 3.0-3.5% annually, lifted by a combination of an acceleration in government investment on megaprojects connected to the Eastern Economic Corridor (EEC) (ii) With the COVID-19 pandemic now receding, regional economies are rebounding, and this will support increased spending on infrastructure and real estate projects

Over the three years from 2021 to 2023, manufacturers and distributors of construction materials will see improving business conditions thanks to rising demand on both domestic and export markets. This outlook will be helped by two factors. (i) Overall expenditure on construction within Thailand is expected to grow by an annual average of 4.9-5.2%. This will come from stronger government spending on infrastructure megaprojects, especially in the Eastern Economic Corridor (EEC), and on expansions and upgrades to the national road and rail networks, as well as from a rebound in the economy that will then boost private-sector construction. (ii) As the COVID-19 crisis abates, regional economies (in particular in the CLV countries, the main export target for Thai players) will return to growth and this will then feed into greater activity in construction and real estate markets, while in addition, governments in the region are also spending more heavily on infrastructure.

Bright outlook for new investment cycle driven by three visible trends: (i) the Private Investment Index showed the strongest rise in almost three years; (ii) industrial capacity utilization has finally returned to pre-pandemic levels; and (iii) there are more industries expressing confidence.

ธุรกิจรับเหมาก่อสร้างปี 2565 มีแนวโน้มเผชิญความเสี่ยงจากต้นทุนที่ปรับสูงขึ้นมากทั้งด้านค่าขนส่งและราคาวัสดุก่อสร้าง จากสงครามรัสเซีย-ยูเครนที่ผลักดันให้ราคาน้ำมันและวัสดุก่อสร้างที่สำคัญโดยเฉพาะเหล็กและปูนซีเมนต์ปรับเพิ่มขึ้น สำหรับปี 2566-2567 ธุรกิจมีแนวโน้มเติบโตตามมูลค่าการลงทุนก่อสร้างโดยรวมที่คาดว่าจะขยายตัวเฉลี่ย 4.5-5.5% ต่อปี

Krungsri Research Digest

Global value chains are shortening as countries are moving to increase their self-reliance and to boost their capacity for domestic technological innovation