Business Data
Sluggish Power Demand, But Renewables Growth To Outperform
Growth prospects in Thailand ' s power sector are fairly muted when compared to the rapidly expanding power markets of its ASEAN neighbours. While gas will remain the dominant fuel, and electricity imports from Laos will become increasingly important to Thailand ' s energy security, we do expect to see increased investment opportunities in the country ' s non-hydro renewables sector, which is set to outperform all other segments of the Thai power sector. Growth in Thailand's power sector will underperform against its ASEAN regional peers over the coming decade, as a more muted outlook for power consumption saps the underlying need to ramp-up power capacity significantly. We expect power consumption in Thailand to grow by an annual average of 3.2% between 2017 and 2026 (equivalent to 30% in total), considerably lower than the majority of countries in South East Asia, except Singapore.
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