Singapore Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Pages: 56 Published: December 13, 2022 Report Code: GDCN1040MR

The Singapore construction market size was valued at $19.5 billion in 2021 and is expected to achieve an AAGR of more than 4% during 2023-2026. During the forecast period, the growth will be supported by investment on transport, electricity, water and sewage, and housing infrastructure projects.

The Singapore construction market research report provides a detailed analysis of Singapore’s construction industry’s growth prospects by market, project type, and construction activity. It also provides critical insights into the impact of industry trends and issues as well as an analysis of key risks and opportunities in the construction industry. Moreover, it provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Singapore Construction Market Outlook

Singapore Construction Market Outlook

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Singapore Construction Market Segmentation by Sectors

The key sectors in the Singapore construction market are commercial construction, industrial construction, infrastructure construction, energy & utilities construction, institutional construction, and residential construction. Industrial construction was the largest sector in Singapore’s construction industry in 2021.

The Commercial Construction Market in Singapore: The commercial construction sector’s growth over the forecast period will be supported by the gradual improvement in tourist arrivals and robust retail sales, coupled with investment on leisure and hospitality, office, retail, and data center projects.
The Industrial Construction Market in Singapore: The industrial construction sector’s growth will be supported by a rebound in manufacturing and export activity.

The Infrastructure Construction Market in Singapore: The infrastructure sector’s output over the forecast period will be supported by the government’s focus on improving regional connectivity through the development of transport infrastructure.

The Energy & Utilities Construction Market in Singapore: Forecast-period growth in the energy and utilities sector will be supported by investment on renewable energy, water, sewage, and telecommunication infrastructure projects.

The Institutional Construction Market in Singapore: The sector’s output over the forecast period will be supported by investment on health, education, and research projects.

The Residential Construction Market in Singapore: The residential construction sector’s output over the forecast period will be supported by the government’s focus on developing affordable housing in the country. The HDB plans to construct up to 100,000 BTO flats from 2021 to 2025.

Singapore Construction Market Analysis by Sectors

Singapore Construction Market Analysis by SectorsFor more sector insights into the Singapore construction market, download a free report sample

Singapore Construction Market – Competitive Landscape

The leading contractors in the Singapore construction market are Samsung Group, Shanghai Urban Construction (Group) Corp, Penta-Ocean Construction Co Ltd, China Communications Construction Group Ltd, Wai Fong Construction Pte Ltd, Toda Corp, Hock Lian Seng Holdings Ltd, Vinci SA, Nishimatsu Construction Co Ltd, and China Minmetals Corp. Samsung Group has the highest project value in the Singapore construction market.

Singapore Construction Market Analysis by Contractors

Singapore Construction Market Analysis by Contractors

To know more about the leading contractors in the Singapore construction market, download a free report sample

The leading consultants in the Singapore construction market are Bartley Investments Pte. Ltd., Arup Group Ltd, SAA Architects Pte Ltd, AECOM, Lowe Enterprises Inc, DP Architects Pte Ltd, Tritech Consultants, KCAP Architects & Planners, S333 Architecture + Urbanism Ltd, and Hassell Studios. Bartley Investments Pte. Ltd has the highest project value in the Singapore construction market.

Singapore Construction Market Analysis by Consultants

Singapore Construction Market Analysis by ConsultantsTo know more about the leading consultants in the Singapore construction market, download a free report sample

Singapore Construction Market Report Overview

Market Size (2021) $19.5 billion
AAGR (2023 – 2026)  >4%
Key Sectors Commercial Construction, Industrial Construction, Infrastructure Construction, Energy & Utilities Construction, Institutional Construction, and Residential Construction
Leading Contractors Samsung Group, Shanghai Urban Construction (Group) Corp, Penta-Ocean Construction Co Ltd, China Communications Construction Group Ltd, Wai Fong Construction Pte Ltd, Toda Corp, Hock Lian Seng Holdings Ltd, Vinci SA, Nishimatsu Construction Co Ltd, and China Minmetals Corp. Samsung Group has the highest project value in the Singapore construction market
Leading Consultants Bartley Investments Pte. Ltd., Arup Group Ltd, SAA Architects Pte Ltd, AECOM, Lowe Enterprises Inc, DP Architects Pte Ltd, Tritech Consultants, KCAP Architects & Planners, S333 Architecture + Urbanism Ltd, and Hassell Studios. Bartley Investments Pte. Ltd has the highest project value in the Singapore construction market

Scope

This report provides a comprehensive analysis of the construction industry in Singapore. It provides –

  • Historical and forecast valuations of the construction industry in Singapore, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy & 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

Reasons to Buy

  • Identify and evaluate market opportunities using GlobalData’s standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using GlobalData’s critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

Table of Contents

Table of Contents

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 COVID-19 Status

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction

– Outlook

– Latest news and developments

– Construction Projects Momentum Index

4.2 Commercial Construction

– Outlook

– Project analytics

– Latest news and developments

4.3 Industrial Construction

– Outlook

– Project analytics

– Latest news and developments

4.4 Infrastructure Construction

– Outlook

– Project analytics

– Latest news and developments

4.5 Energy and Utilities Construction

– Outlook

– Project analytics

– Latest news and developments

4.6 Institutional Construction

– Outlook

– Project analytics

– Latest news and developments

4.7 Residential Construction

– Outlook

– Project analytics

– Latest news and developments

5 Key Industry Participants

5.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

7.1 What is this Report About?

7.2 Definitions

7.3 CRI Methodology

7.4 GlobalData Construction

Contact Us

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Singapore, Key Economic Indicators

Table 3: Singapore, Commercial Construction Output by Project Type (Real % Change), 2017-26

Table 4: Singapore, Top Commercial Construction Projects by Value

Table 5: Singapore, Industrial Construction Output by Project Type (Real % Change), 2017-26

Table 6: Singapore, Top Industrial Construction Projects by Value

Table 7: Singapore, Infrastructure Construction Output by Project Type (Real % Change), 2017-26

Table 8: Singapore, Top Infrastructure Construction Projects by Value

Table 9: Singapore, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26

Table 10: Singapore, Top Energy and Utilities Construction Projects by Value

Table 11: Singapore, Institutional Construction Output by Project Type (Real % Change), 2017-26

Table 12: Singapore, Top Institutional Construction Projects by Value

Table 13: Singapore, Residential Construction Output by Project Type (Real % Change), 2017-26

Table 14: Singapore, Top Residential Construction Projects by Value

Table 15: Singapore, Key Contractors

Table 16: Singapore, Key Consultants

Table 17: Singapore, Construction Output Value (Real, $ Million)

Table 18: Singapore, Construction Output Value (Nominal, SGD Million)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

List of Figures

List of Figures

Figure 1: South and South-East Asia, Construction Output (Real % Change), 2020-26

Figure 2: Singapore, Construction Output by Sector (Real % Change), 2020-22 and 2023-26

Figure 3: Singapore, COVID-19 Confirmed Cases

Figure 4: Singapore, Risk Summary

Figure 5: Singapore, Risk Regional Comparison

Figure 6: Singapore, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26

Figure 7: Singapore, Construction Output Value, by Sector (Real, $ Million), 2017-26

Figure 8: Singapore, Construction Value Add (in SGD Million, 2015 Chained Prices)

Figure 9: Singapore, Total GFCF in Construction (SGD Million, 2015 Chained Prices)

Figure 10: Singapore, Progress Payments Certified for Construction (in SGD Million)

Figure 11: Singapore, Construction Contracts Awarded (SGD Million)

Figure 12: Singapore, Construction Material Market Prices, % Change YoY

Figure 13: Singapore, Fixed Asset Investment (FAI) Commitments (SGD Million)

Figure 14: Singapore, Construction Projects Momentum Index

Figure 15: Region, Construction Projects Momentum Index

Figure 16: Singapore, Commercial Construction Output by Project Type (Real, $ Million), 2017-26

Figure 17: Singapore, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 18:Singapore, Progress Payment Issued for Commercial Construction, In SGD Million

Figure 19: Singapore, Contracts Issued for Commercial Construction (SGD Million)

Figure 20: Singapore, International Visitor Arrivals (In Thousands) and Room Revenue of Gazetted Hotels (SGD Million)

Figure 21: Singapore, Retail sales index, Chained Volume Terms, 2017=100

Figure 22: Singapore, Office Price and Rental Indices, 1998=100

Figure 23: Singapore, Supply of Office Space in the Pipeline, GFA, In Thousand m2

Figure 24: Singapore, Supply of Retail Space in the Pipeline, GFA, In Thousand m2

Figure 25: Singapore, Hotel Room Supply

Figure 26: Singapore, Industrial Construction Output by Project Type (Real, $ Million), 2017-26

Figure 27: Singapore, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 28: Singapore, Contracts Issued for Industrial Construction (SGD Million)

Figure 29: Singapore, Industrial Production Index, 2019=100

Figure 30: Singapore, Purchasing Managers’ Index (PMI)

Figure 31: Singapore, Total Merchandise Exports, in SGD Billion

Figure 32: Singapore, Factory Space Supply, GFA, In Thousand m2

Figure 33: Singapore, Progress Payment Issued for Industrial Construction (SGD Million)

Figure 34: Singapore, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26

Figure 35: Singapore, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 36: Singapore, Progress Payments Issued for Civil Engineering Works, in SGD Million

Figure 37: Singapore, Contracts Issued for Civil Engineering, in SGD Million

Figure 38: Singapore, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26

Figure 39: Singapore, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 40: Singapore, Electricity Generated, in GWh

Figure 41: Singapore, Institutional Construction Output by Project Type (Real, $ Million), 2017-26

Figure 42: Singapore, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 43: Singapore, Progress Payments Certified for Institutional Construction (SGD Million)

Figure 44: Singapore, Contracts Issued for Institutional Construction, in SGD Million

Figure 45: Singapore, Residential Construction Output by Project Type (Real, $ Million), 2017-26

Figure 46: Singapore, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 47: Singapore, GFCF in Residential Buildings, (SGD Million, 2015 Chained Prices)

Figure 48: Singapore, Progress Payments Issued for Residential Construction (SGD Million)

Figure 49: Singapore, Private Residential Property Price Index, 2009=100

Figure 50: Singapore, Contracts Issued for Residential Construction (SGD Million)

Figure 51: Singapore, Supply of Private Residential Properties and Executive Condominiums (Units), % Change YoY

Figure 52: Singapore, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 53: Singapore, Headquarters of Key Consultants (% of Total Project Pipeline)

Frequently Asked Questions

The construction market size in Singapore was valued at $19.5 billion in 2021.

The construction market in Singapore is expected to achieve an AAGR of more than 4% during 2023-2026.

The key sectors in the Singapore construction market are commercial construction, industrial construction, infrastructure construction, energy & utilities construction, institutional construction, and residential construction.

The leading contractors in the Singapore construction market are Samsung Group, Shanghai Urban Construction (Group) Corp, Penta-Ocean Construction Co Ltd, China Communications Construction Group Ltd, Wai Fong Construction Pte Ltd, Toda Corp, Hock Lian Seng Holdings Ltd, Vinci SA, Nishimatsu Construction Co Ltd, and China Minmetals Corp.

The leading consultants in the Singapore construction market are Bartley Investments Pte. Ltd., Arup Group Ltd, SAA Architects Pte Ltd, AECOM, Lowe Enterprises Inc, DP Architects Pte Ltd, Tritech Consultants, KCAP Architects & Planners, S333 Architecture + Urbanism Ltd, and Hassell Studios. Bartley Investments Pte. Ltd has the highest project value in the Singapore construction market.

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