Thailand Prefabricated Buildings Industry Size Study Reveals Growth Factors And Competitive Outlook For Future 2022-2031

(MENAFN- America News Hour)

Thailand's Prefabricated Buildings Industry is expected to grow at a CAGR of approximately 5.5% during the forecast period. Prefabrication plays an important role in the modern world of every building today. It refers to manufacturing parts in off-site workshops or factories before on-site installation. In Thailand, Prefabs are gaining popularity not only in the commercial buildings sector but also in the area of residential living spaces. In Thailand, prefabricated building systems have been recognized as one of the alternatives that quickly change the speed of traditional building methods. These modules are then transported and installed on-site as load-bearing structural blocks of the structure. Prefabrication for residential construction has been used in Thailand for only less than two decades, but it has been growing very fast in the past five years. Thai developers see prefabrication as the future and are ready to invest more in this type of construction.
During the COVID-19 outbreak, the workers fled to their home countries. Due to labor shortage, timely completion of the project also became a major challenge for developers. Moreover, due to the disruption of the supply chain, developers faced the problem of obtaining cheap input materials as the production units were closed. In order to adapt to the prefabricated structures of the modern world, new technologies have been developed. New technologies are not only helping contractors and owners get the building faster and more economically, but also they are helping to reduce construction waste and produce energy-efficient buildings, thereby bringing long-term benefits to the project.

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Recently, many new developers and contractors have switched from traditional buildings to prefabricated buildings to adapt to this new trend in the Thai residential market. Some of the factors that constrained the growth of the prefabrication buildings industry in Thailand include high initial cost, high-cost pressure without appropriate economic scale effects, lack of regulations addressing prefabricated construction practices, and others.
Key Market Trends
Government Initiatives to Boost the Construction Industry

Although Thailand imposed a lockdown in mid-2020, construction activities are still relatively flexible, and most of the work is progressing smoothly without much disruption. However, as the pandemic has caused supply chain disruptions and labor shortages in the construction industry, some projects are expected to face delays and subsequent cost overruns. The government plans to attract foreign investment, revitalize the tourism industry, and develop affordable housing, transportation, and renewable energy infrastructure. Progress has been made in the Eastern Economic Corridor (EEC) flagship project, and the government has signed public-private partnership agreements (PPPA) for four of the six development projects. These include high-speed railways connecting Don Mueang, Suvarnabhumi and U-Tapao Airport (HSR), U-Tapao International Airport, Map Ta Phut Industrial Port (Phase 3), and Laem Chabang Port. The PPPAs for the remaining two projects-Digital Park/EEC Digital Innovation District (EECd) and Thai Airways Maintenance and Overhaul (TGMRO) Park Project-is also expected to be signed by the end of 2021. This project was approved by the Thai Cabinet in June 2016, it involves the development and upgrading of infrastructure in Thailand's Rayong, Chachoengsao, and Chonburi provinces. The plan includes the construction of railways, airports, and ports, as well as the development of industrial, commercial zones and cities.
Increasing Demand of prefabricated Buildings in Thailand
There is an increase in demand for prefabricated buildings in Thailand. As a share of the urban population is increasing in Thailand, there is an increase in demand for residential and other types of buildings in the urban area. Demand for prefabricated buildings is increasing because of less construction time and the shortage of workers in the construction industry. Although the minimum wage has risen and there is no shortage of jobs, the building construction industry in Thailand is facing a severe labor shortage. In Thailand, the government announced a lockdown in March 2020. Hundreds of thousands of migrant workers returned to their hometowns. These workers act as the lifeline of the construction industry.
The coronavirus pandemic has raised wider concerns about the safety and strength of the extremely complex supply chains and logistics systems on which modern society depends. As the Thai government announced a nationwide lockdown, hundreds of thousands of migrant workers scrambled to return to neighboring countries through border checkpoints. Due to social distancing restrictions and frequent lockdown in the country, many people are giving preference to prefabricated buildings.

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Competitive Landscape
Thailand's prefabricated buildings industry is relatively fragmented. There are several local and international players present in the Thailand prefabricated buildings industry. The rapidly changing technological environment is expected to adversely affect vendors as customers expect continual innovations and upgrades in construction. The competition between vendors exists on the basis of offerings and pricing. The competition is expected to intensify further with an increase in product extensions, technological innovations, and M&A. The market is expected to grow during the forecast period due to the increase in the prefab construction building investments and upcoming major projects in the country and other few factors are driving the market.

1.1 Study Assumptions
1.2 Scope of the Study
2.1 Analysis Methodology
2.2 Research Phases
4.1 Current Market Scenario
4.2 Technological Trends
4.3 Insights on Supply Chain/Value Chain Analysis of the Prefabricated Buildings Industry
4.4 Brief on Different Structures Used in the Prefabricated Buildings Industry
4.5 Cost Structure Analysis of the Prefabricated Buildings Industry
4.6 Impact of COVID-19 on the Market
4.7 Insights on Different Types of Materials used in Prefabricated Buildings Construction
5.1 Drivers
5.2 Restraints
5.3 Opportunities
5.4 Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers / Buyers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6.1 By Application
6.1.1 Residential
6.1.2 Commercial
6.1.3 Industrial
7.1 Overview
7.2 Company Profiles
7.2.1 Siam Steel
7.2.2 LifeBox Modular
7.2.3 Dextra Group
7.2.4 Thai Isowall Company Limited
7.2.5 Unibuild
7.2.6 Modern Modular Co.Ltd.
7.2.7 ECOPOD
7.2.8 Advance Civil Group Co.Ltd.
7.2.9 Thaweephan Wood Products Co.Ltd.
7.2.10 Container Kings*
9.1 Marcroeconomic Indicators (GDP breakdown by sector, Contribution of construction to economy, etc.)
9.2 Key Production, Consumption,Exports & import statistics of construction Materials

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