CHICAGO, May 21, 2024 /PRNewswire/ -- According to Arizton's latest research report, the Thailand construction equipment market is growing at a CAGR of 5.77% during 2023-2029. 

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The Thailand Construction Equipment Market Report Scope  

Market Trends:

In January 2024, Thailand announced the launch of lithium production within two years from a new mine in the southwest part of the country. This aim is to support its goal of becoming a major regional hub for Electric Vehicle (EV) production. Establishing lithium mines in Thailand will position the country uniquely among significant producers of lithium, which is crucial for EV batteries. This move is significant as Thailand is developing an EV production industry, with substantial investment commitments totaling $1.44 billion from Chinese carmakers. The Ruangkiat deposit, confirmed by the Department of Primary Industries and Mines, contains over 14.8 million tons of lithium, enough to power at least 1 million electric vehicles with 50 kWh lithium batteries. Moreover, government investments in expanding roadways, expressways, and highways across the country for smooth transit support the demand for road construction equipment in Thailand.

Increased Investments in the Eastern Economic Corridor Initiative to Boost the Thailand Construction Equipment Market

• The total investment value amounted to USD 23.62 billion, depicting a significant 43% increase compared to the previous year. This marks the highest investment value in five years, indicating a positive trend in investment activity in infrastructure and supporting the Thailand construction equipment market growth.
• In March 2023, the Thai government started promoting several large-scale water transport projects, including an industrial port development project in the Eastern Economic Corridor (EEC) district.

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Thailand Construction Equipment Market Dynamics

Drivers

• Increased Investment under the EEC Initiative
• Growth in Transport Projects
• High Investment in Energy Projects

Trends

• Focus on Lithium Mining
• Investment in Green Hydrogen
• High Waste-to-Energy Projects

Challenges

• Rising Land & Housing Prices
• Skilled Labor Shortage
• Economic & Political Uncertainties

Vendors

Key Vendors 

• Caterpillar
• Komatsu
• JCB
• Volvo Construction Equipment
• Hitachi Construction Machinery
• Kubota
• SANY
• Xuzhou Construction Machinery Group (XCMG)
• Liebherr
• Kobelco
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• SUMITOMO CONSTRUCTION MACHINERY CO., LTD.

Other Prominent Vendors

• Hyundai Construction Equipment
• Hidromek
• Liugong
• Yanmar
• Tadano
• Takeuchi Manufacturing Co., Ltd.
• Manitou Group
• KATO WORKS CO., LTD.
• GEHL
• MERLO Spa
• Bobcat
• Terex Corporation
• CNH Industrial
• AIRMAN
• Euromach
• Shandong Lingong Construction Machinery (SDLG)
• Ammann
• Haulotte
• Toyota Material Handling
• SAKAI HEAVY INDUSTRIES, LTD.
• Xiamen XGMA Machinery Company Limited
• JLG

Distributors Profiles

• Italthai Industrial Co., Ltd. (ITI)
• Leadway Heavy Machinery Co., Ltd.
• Avlo Group
• Paragon Machinery
• Metro CAT
• AVN Motor Work
• OEK Machinery Works
• Sahasin Equipment

Segmentation by Type

• Earthmoving Equipment
• • Excavator
  • Backhoe Loaders
  • Wheeled Loaders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
• Road Construction Equipment
• • Road Rollers
  • Asphalt Pavers
• Material Handling Equipment
• • Crane
  • Forklift & Telescopic Handlers
  • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
• Other Construction Equipment
• • Dumper
  • Tipper
  • Concrete Mixer
  • Concrete Pump Truck
• End Users
• • Construction
  • Mining
  • Manufacturing
  • Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

The Thailand Construction Equipment Market Report Encompasses Crucial Data, Including:            

CAGR (Compound Annual Growth Rate) during the forecast period: This metric provides insights into the annual growth rate of the Thailand construction equipment market over the specified time frame.            
Detailed information on growth drivers: The report offers in-depth information on the factors that will propel the Thailand construction equipment market growth from 2023 to 2029. This includes an analysis of various market influences.            
Precise estimation of market size: Accurate assessments of the Thailand construction equipment market size and its contribution and focusing on key market segments.            
Predictions about upcoming trends and changes in consumer behavior: The report offers insights into anticipated trends and shifts in consumer behavior that are likely to impact the Thailand construction equipment market, helping businesses prepare for future market dynamics.            
Geographical market growth: The report covers the development of the construction equipment market across Thailand.
Competitive landscape analysis: A thorough examination of the market's competitive landscape is presented, including detailed information about companies operating in the Thailand construction equipment market. This includes an overview of key players, their market share, strategies, and key developments.            
Analysis of growth challenges: The report includes a comprehensive analysis of factors that may pose challenges to the growth of companies in the Thailand construction equipment market, providing a well-rounded view of the market dynamics.       

Post-Purchase Benefit                          

• 1hr of free analyst discussion
• 10% off on customization

Key Questions Answered in the Report:   

What is the growth rate of the Thailand construction equipment market?
How big is the Thailand construction equipment market?
Which are the major distributor companies in the Thailand construction equipment market?
Who are the key players in the Thailand construction equipment market?
What are the trends in the Thailand construction equipment industry?

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