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LiuGong plans major expansion in Thailand: sales should triple!
LiuGong announces increased sales in Thailand through construction machinery innovations and government infrastructure projects by 2025.
LiuGong plans major expansion in Thailand: sales should triple!
There is a lot happening in the construction industry in Thailand. LiuGong, a leading construction equipment manufacturer from China, has now unveiled new plans to boost business in the coming years. How mgronline reports that the company aims to triple its sales within the next five years. In 2025, LiuGong expects to sell 1,100 machines and would like to generate revenue of around 2,000 million baht.
Despite a general economic slowdown, forecasts for the construction sector show an optimistic picture with growth of around 6.5%. LiuGong currently has a 9% market share in Thailand, particularly in construction, agriculture, mining and industry. To continue growing, LiuGong relies on a wide product range that includes diesel and electric vehicles, as well as world-class customer service, which is already offered in 29 service centers. Four more centers are expected to open by 2026.
Innovations and competitive environment
A new highlight in LiuGong's range is the 22-ton excavator LiuGong 922F, which is ideal for construction and forestry work. Electric wheel loaders and mini excavators will also be on display to meet the latest standards in technology. The wheel loader market is particularly promising for LiuGong, as the company has an impressive market share of more than 40% and plans to further expand the market for wheel loaders between 6 and 10 tons.
The Thai construction equipment market is also not standing still. Loud mordorintelligence The market is expected to grow to $1.55 billion by 2030, fueled by government investments and large infrastructure projects, particularly in the Eastern Economic Corridor (EEC). One trend that is emerging is the rise of electric and hybrid devices, an area that is forecast to see an annual average growth of 11.36% by 2030.
Future prospects and government investments
An important driver for the construction industry is the extensive government investment, which plays a significant role. The 2025 budget earmarks a whopping THB193.3 billion (equivalent to about $5.7 billion) for the Ministry of Transport. These funds are part of a broad investment initiative to renovate rail infrastructure and increase international tourism numbers, which are expected to reach 40 million visitors by 2025. Globenewire highlights that TRY2.7 trillion (approximately USD 78.6 billion) will be allocated to sustainable transport infrastructure and airport transformation by 2030.
The future of the construction industry in Thailand seems to be secure. With increasing investments and a clear focus on sustainable developments, it remains to be seen how the industry will further develop in the next few years. Be it through LiuGong's innovative products or the extensive government projects - the Thai market still has a lot to offer.