Watkinson Construction Equipment, an importer and distributor of construction equipment, has a positive outlook on the country's market, driven by the government's upcoming infrastructure projects.
New government megaprojects are also being expanded into other countries across the region.
"This will spur demand for construction equipment across Asia-Pacific," said chief operating officer Kamolwat Veerasupakarn.
"Thailand has many projects scheduled to begin soon, and construction companies are also entering neighbouring countries to be contractors there."
Mr Kamolwat forecasts the total market value for construction machinery at around 20 billion baht a year.
He expects total revenue to achieve 640 million baht, up sharply by 178% from a year before as the company imports two more brands: Clark from the US and RM from Austria, both to be marketed locally.
The Italian brand Case remains the company's core competency in the Thai market, expecting sales of 120 units in 2018, said Mr Kamolwat.
He said Watkinson expects to sell 60 Clark units and 10 RM units this year.
For the RM brand, he said Watkinson imports crushers and screen units because it has witnessed a market opportunity in the country.
"The crushers and screen units have been available locally for 7-8 years and Watkinson believes that they will generate a huge advantage as they are niche products and have more rooms to grow as they generate savings on operating costs," he said.
"We already have two new customers for the RM brand, with sales worth 30 million baht."
Mr Kamolwat said the company plans to spend 7-10 million baht in 2018 for its marketing and promotional campaign, including roadshows and events, in addition to adding three new branches in Thailand, increasing from its seven existing ones.
He has targeted a total of 12 branches nationwide over the next two years.
Nonetheless, Gerald Hanisch, managing director and chief executive of Austria-based Rubble Master, the RM brand, said the company is interested in expanding market presence in Thailand and Asean countries because it has witnessed high growth of construction and equipment demand.
"Many countries in the region have developed and expanded many infrastructure projects to beef up their economic sentiments," he said.
He added the construction equipment in Thailand is projected to grow by 5-8% annually.
During 2014-2017, the crusher and screen units sales has increased to about 40-50 units per year locally.
But the sales of RM here are limited to two units, compared to the total sales across Asean at 55-60 units last year
RM is the market leader of compact crushers and screen units for the 30-tonne weight class, leading global sales in 2017, according to a global market research report.
