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In 2019-2021, the road transport business is likely to grow 1-2% per year, driven by the growth of the manufacturing sector

The road transport industry can expect to see average annual growth of 2.0-3.0% over 2024 to 2026. Demand for transport services will be boosted by the gradual improvement in the outlook for investment, manufacturing and trade, as well as ongoing growth in the tourism sector.

Over the period 2022-2024, the road freight transport industry is expected to enjoy growth rates that will average 3-5% per year. The industry will benefit from growth in manufacturing and trade, and from the increase in public-sector spending on infrastructure construction and the likely expansion in agricultural outputs. Beyond this, players will also gain from the ongoing strengthening of border/cross-border trade and the continuing rise in the popularity of e-commerce.

Freight transport is a service business that plays an important role in distributing products to the market

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Logistics consists of warehouses, walking services, mass transit, road transport services

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.

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