Singapore Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2030 (Q3 2026)
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The construction industry in Singapore is estimated to grow by 6.2% in real terms in 2026, supported by an increase in export activities, along with investments in datacenter buildings and the manufacturing sector, in line with rising demand for artificial intelligence (AI). According to the Ministry of Trade and Industry, Singapore's benchmark non-oil domestic exports (NODX) grew by 27.4% year-on-year (YoY) in real terms in Q2 2026, following a 9.6% YoY increase in Q1 2026. The growth in the second quarter was primarily driven by electronics (an 88.1% YoY increase), as well as sectors such as pharmaceuticals and specialized machinery. Reflecting this strong market recovery, the Singapore government sharply upgraded its full-year non-oil domestic export (NODX) growth forecast for 2026 in August 2026 to a range of 14%-16%, a substantial increase from the 3% to 5% expansion projected in May 2026, reflecting the exceptionally strong first-half performance led by electronics. Moreover, investments in the transport and energy sectors, along with an improvement in manufacturing activities, will also provide a boost to the industry’s output this year. Growth will also be supported by an increase in construction contracts awarded and progress payments issued. According to the Department of Statistics (DOS), the total value of progress payments issued rose by 13.8% YoY in H1 2026, whereas the total value of construction contracts awarded grew by 8.8% YoY during the same period.
The construction industry is projected to grow at an average annual rate of 3.6% between 2027 and 2030, supported by investments in transport and energy projects, coupled with the government's Long-Term Plan Review (LTPR), led by the Urban Redevelopment Authority, which sets out a 50-year framework for sustainable growth, focusing on land use, transport, and economic priorities. A major part of the plan is rail expansion, with the Mass Rapid Transit (MRT) network set to grow from 250km in 2019 to 360km by 2030. Growth over the forecast period will also be driven by the Land Transport Authority's (LTA) Land Transport Master Plan 2040. Under the plan, the government intends to invest an estimated SGD34.4 billion ($26 billion) to construct railway stations, transit priority corridors (TPCs), and 700km of cycling paths by 2030, with plans to expand this to 1,000km by 2040. Growth will also be supported by the government’s target of achieving net-zero emissions by 2050.
GlobalData’s Construction in Singapore – Key Trends and Opportunities to 2030 (Q3 2026) report provides detailed market analysis, information, and insights into Singapore’s construction industry, including:
– Singapore’s construction industry's growth prospects by market, project type and construction activity
– Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Singapore’s construction industry
– Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Singapore. It provides:
– Historical (2021–2025) and forecast (2026–2030) valuations of the construction industry in Singapore, featuring details of key growth drivers.
– Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
– Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
– Listings of major projects, in addition to details of leading contractors and consultants
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