Thailand Construction Equipment Market Assessment 2024-2029 Featuring Caterpillar, Komatsu, JCB, Volvo, Hitachi, Kubota, SANY, XCMG, Liebherr, Kobelco, Zoomlion, and SUMITOMO - ResearchAndMarkets.com

The "Thailand Construction Equipment Market - Strategic Assessment & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The Thailand Construction Equipment Market was valued at USD 1.86 billion in 2023, and is expected to reach USD 2.57 billion by 2029, rising at a CAGR of 5.54%

Earthmoving equipment accounted for the largest market share of the Thailand construction equipment market in 2023. Excavators in the earthmoving segment accounted for the largest share in 2023. Rising investment in housing, port expansion, and public infrastructure projects is expected to drive the demand for excavators in the Thailand construction equipment market.

The Thai government took multiple initiatives to promote the country's infrastructure industry. Chinese vendors have taken advantage of the opportunity to capture market share using various means. SANY has captured a 30.4% market share based on competitive pricing, digitalization, post-sales services, and increasing service network. XCMG is increasing its Thailand construction equipment market share by re-orienting its marketing strategy. The company is marketing its products online and selling them using methods like live bidding, giving its brand a premium positioning among its peers.

Italthai Industry (ITI) Co. Ltd, a distributor of Volvo-SDLG-Tadano, is expanding its network nationwide to improve the sales of these companies' products. ITI is focusing on increasing sales of mini excavators by 50%. The recently introduced TM-ZX1205HRS loader crane is expected to augment sales within the Thailand construction equipment market, transportation, and logistics sectors.

Tadano Italthai, the importer and distributor of Tadano cranes and lifting equipment in Thailand, showcased and demonstrated the TM-ZX1205HRS crane at the Saha Crane Auction Co., Ltd. in November 2023. The TM-ZX1205HRS features a new lifting capacity range of 12 tons within the Tadano TM crane series, filling the gap between the 10-ton TM-ZX1000 and 15-ton TM-ZX1500 series models. This crane is part of Tadano's new TM-ZX1200 series, which comprises a total of three models.

Caterpillar, Komatsu, Zoomlion, Hitachi Construction Machinery, SANY, XCMG, Kobelco, and Volvo CE are leaders in the Thailand construction equipment market. These companies have a substantial market share and offer diverse sets of equipment. Terex, CNH Industrial, LiuGong, Manitou, Kato Works Co. Ltd., Bobcat, Takeuchi, and Sakai are niche players in the Thailand construction equipment market.

These companies offer low product diversification and have a strong presence in the Thai local market. Liebherr, Yanmar, JCB, Kubota, Sumitomo, Tadano, and HD Hyundai Construction Equipment are emerging in the Thai market. These companies are introducing new technologically advanced products to challenge the share of leaders in the Thailand construction equipment market.

KEY QUESTIONS ANSWERED

• 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's construction equipment industry?

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