Massive investment in infrastructure projects and manufacturing facilities in Cambodia, Laos, Myanmar and Vietnam will drive demand for industrial equipment and technology in Thailand.
Companies from the four countries will participate in trade fairs in Thailand to meet potential Thai suppliers, said Jidakarn Jarhatchaithitikhun, sales and marketing manager at UBM Asia (Thailand), a leading organiser of exhibitions in Asia.
“Thailand will become an industrial equipment and technology hub for these countries. Their industrialists will learn from Thai operators as well,” said Ms Jidakarn.
Supporting factors are Thailand’s strategic location, good infrastructure and transportation network, skilled labour and government support for the industrial sector.
Currently, the Thai industrial sector is experiencing slower growth than Myanmar and Vietnam, which have heavily invested in roads, highways, ports, industrial estates and hospitals as well as property development.
Machinery and equipment such as pumps, valves and steam boilers are needed for many construction and industrial projects.
Ms Jidakarn said factory owners in nearby countries were also looking for high-technology machinery and equipment in order to save manufacturing costs.
“Many of Thailand's world-class manufacturing plants can serve as role models for our neighbours,” she said.
Energy-saving machinery and equipment is in high demand. The industrial sectors in neighbouring nations are interested in many projects in Thailand such as small power plants for remote communities and zero-waste production technology.
Ms Jidakarn said the industrial sector would improve on the back of falling oil prices and the improving economy. The food and beverage, petrochemical, garment, leather, electronics, construction and hotel sectors will drive demand for steam boilers, pumps and valves.
UBM Asia will organise Boilex Asia 2016 and Pump & Valve Asia 2016 during June 1-4 at Bitec, expecting 280 exhibitors from 30 countries and 28,000 visitors.
Leading producers such as IHI, Cleaver-Brooks, Honeywell, NTEC and Siemens will showcase their latest innovations.
Apart from buyers from Cambodia, Laos, Myanmar and Vietnam, UBM Asia will also attract those from the Philippines.
“Asia-Pacific remains the high-growth market for steam boilers, pumps and valves with average growth of 2.57% in the past few years,” Ms Jidakarn said.