The scope of the global markets for buildings and construction materials was anticipated to be $990.36 billion in 2021, $1,060.38 billion in 2022, and is expected to increase at a CAGR of 6.30 percent to reach $1,429.64 billion by 2027, as per researchandmarkets report. The Asia Pacific region is anticipated to expand faster than other regions and is on track to post a strong value of 6.2 percent during the projected period. Furthermore, the region is also anticipated to have a greater market value of around US$ 24 Bn by the end of 2025, dominating the worldwide building products market. The expanding building industry in developing nations like China and India is responsible for this enormous expansion and domination.
To add it, a significant portion of construction activities are encouraged by the telecom, urban infrastructure, oil and gas, railway, and industry sectors, all of which are predicted to continue to increase over the next few years. With great potential in the global market, the Asia Pacific area is anticipated to be an opportunistic region.
Taking note of the rising opportunities in this area, Lucky Building System is a business unit of Siam Steel International PCL, developed since 1998 in order to support the continuous growth of factory built building products. Based out of Thailand, the company has expanded its footprint across nations including Japan, Maldives, Indonesia, Australia, and Dubai.
The Inception Story
The Great Hanshin Earthquake, also known as the Kobe Earthquake forms the backdrop of LBS's inception story. While the Japanese government was finding ways to bring back stability, the company was contracted to develop modular buildings to be sent to Japan to accommodate the victims.
Ever since, the company has held strong ties with Japan. This also encouraged the firm to grow, and export modular buildings to many countries starting with Australia in 2009, Serving both the Oil & Gas sector, and the Real-Estate Developer Sector, proving their quality once again at a country with one of the strictest Building Code as 'Australian Standard'.
Their national main success is the 100 percent market share of the present prefabricated bathroom pod market. They are currently offering the 'Steel Structure Prefabricated Building Solution' to Thailand's construction industry, both residential and industrial building.
From research to planning to designing to manufacturing and to installation, LBS offers complete project management services. They rank among the top industrial groups in Thailand, with a solid history spanning more than six decades and knowledge of how to satisfy the demands of both home and foreign markets. "Our vision is to be an organization gaining acceptance in manufacturing and development of the highest quality prefabricated building system in order to revolutionize and improve the construction industries, creating a cleaner and greener environment, creating a better life and sustainable world", shares Kitichai.
LBS offers many products to all their markets which are curated as per usual client requirements and needs.
These products include Modular Buildings (Apartment, Condominium, House, Office and Commercial Building, Accommodations), Prefabricated Bathroom Pod, Pre-Engineer Building (PEB), Prefabricated Roof System, Prefabricated Mezzanine, Residential Formwork, and Residential Extension Unit.
In addition to offering high grade services, the firm also focuses on continually improving and reinventing itself through technological advancements which gives them an edge over their competitors. "We focus on developing new technologies and offer new values of living in our building solutions. Qualities of living improvement such as IAQ (Indoor Air Quality), Anti-Virus and Bacteria Material, and SDGs (Sustainable Development Goals) are the key factors which sets us apart from others. We also offer a one stop service which offers total ranges of service from Research, Planning, Design, Production, Installation, and lifetime After-Sales Services", further adds Kitisak.
The Path Ahead
The company predicts that the trend in the construction industry would move toward steel structure prefabricated buildings in all feasible sectors, from commercial to residential, as it might increase speed, quality, environmental issues, and assist alleviate the skilled labor shortage difficulties. As a result, LBS would thrive on ongoing R&D of the technologies to support with our building solutions, as well as to support in all sorts of activities and engagements that would better inform the audience about the solutions.
Kitichai (Managing Director):
Kitichai graduated with a bachelor's degree from Waseda University in Japan and completed an executive education programme at the Judge Business School of the University of Cambridge. With more than ten years of experience in the steel-structure building sector, Kitichai was instrumental in the development and introduction of several steel-structure prefabricated building systems into the projects of Thailand's residential real estate developers, greatly increasing their effectiveness.
Kitisak (Senior Deputy Managing Director):
Kitisak chose to spend a few years gaining work experience from other organizations in the relevant industry after earning a Master's Degree in Innovations and Entrepreneurship from Warwick University in the United Kingdom in order to bring back unique aspects to the LBS's business. Having successfully built the Pre-Engineered Building business to launch LBS's professional career, Kitisak is currently working on unique post-pandemic building solutions that are aimed at the B2C market.
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