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Autonomous Vehicles: The Future of Transportation

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.

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

From 2023-2025, sea freight operations should enjoy a brighter outlook, thanks to steadily improving global and Thai economic conditions and income from freight charges that will remain above its pre-COVID level. Meanwhile, the supply of new ships will expand only slowly.

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

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

The new wave of domestic COVID-19 infections has impacted the Thai economy, slowing the recovery and increasing the risk that the country will struggle against the long-lasting pandemic. Krungsri Research has thus carried out a fresh analysis of the domestic impacts of the latest outbreak of COVID-19 on industry and households and the subsequent prospects for recovery. The results indicate that businesses connected to tourism, restaurants and transportation remain hardest-hit sectors, while income for unskilled workers will be more sharply reduced than will that of skilled laborers. However, middle-income earners and lower-income earners in urban areas will be the most severely affected and will have to endure the slowest recovery.