The Asia Pacific modular construction market is poised for robust growth, with a projected compound annual growth rate (CAGR) of 6.8% from 2023 to 2030, increasing from USD 38.3 billion to USD 60.74 billion. The prefabricated building industry in Thailand is projected to achieve a CAGR of over 5% from 2023 to 2028. The industry is anticipated to see steady growth in the coming four quarters, with a continued growth rate of 4.5% CAGR from 2024 to 2028. The output of prefabricated construction in the country is expected to reach THB 19.8 billion by 2028.

This construction method is gaining traction driven by the increasing demand for growing need of affordable housing, quick infrastructure development, efficient and cost-effective building methods. The initiatives by the Thailand’s Board of Investment (BOI) on new residential projects for low-income individuals, has provided a significant boost to this construction method. Notably, The Concrete Products and Aggregate Co., Ltd, a subsidiary of Siam Cement Group, have completed the world’s first two-story residential building using 3D printed prefabricated prefinished volumetric construction (PPVC) technology in Saraburi, Thailand.

Similarly, the Naval Facilities Engineering Systems Command (NAVFAC) Pacific Resident Officer in Charge of Construction (ROICC) Thailand completed a prefabricated Unmanned Aerial System (UAS) Operations Support Facility at the U-Tapao Royal Thai Navy Airfield. The two-story, 1,600 square foot facility was constructed in just 100 days. Thai developers are embracing prefabrication as the future of construction and are committed to increasing their investments in this approach since it has been positioned as a game-changer in Thailand’s evolving market.

The 13th Annual Modular, Prefab & Construction Tech Senate by Trueventus is designed to create a premier destination for professionals working across the built environment to gain first-hand insights and experience on the latest innovations and opportunities in modern construction methods. Learn to streamline workflows, improve productivity, expand project scope, expand data access, enhance collaboration, and generate more substantial profit margins.