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

The Singapore construction market size was valued at $19.4 billion in the year 2021. The market is expected to grow at an AAGR of more than 4% during the period 2023-2026.

The Singapore construction market report provides detailed market analysis, information and insights into Singapore construction industry, including Singapore construction industry’s growth prospects by market, project type and construction activity. The report provides critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Singapore construction industry. It also gives 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 overview

Singapore construction market overview

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What are the key sectors in Singapore construction market?

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

Commercial construction market in Singapore

The key projects type in the commercial construction in Singapore include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction.

Industrial construction market in Singapore

The key projects type in the industrial construction in Singapore include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants.

Infrastructure construction market in Singapore

The key projects type in the infrastructure construction in Singapore include rail infrastructure, road infrastructure, other infrastructure projects.

Energy and utilities construction market in Singapore

The key projects type in the energy and utilities construction in Singapore include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure.

Institutional construction market in Singapore

The key projects in the institutional construction in Singapore include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings.

Residential construction market in Singapore

The key projects in the residential construction in Singapore include single-family housing and multi-family housing.

Singapore construction market, by sectors

Singapore construction market, by sectors

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Who are the key contractors in Singapore construction market?

The key contractors in Singapore construction market are Samsung Group, Shanghai Urban Construction (Group) Corp., Vinci SA, Nishimatsu Construction Co. Ltd, Toda Corp., Taisei Corp., China State Construction Engineering Corp. Ltd, China Communications Construction Group Ltd, Penta-Ocean Construction Co. Ltd, and Wai Fong Construction Pte Ltd

Singapore construction market, by key contractors

Singapore construction market, by key contractors

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Who are the key consultants in Singapore construction market?

The key consultants in Singapore construction market include Temasek Holdings (Private) Ltd, Arup Group Ltd, SAA Architects Pte Ltd, AECOM, Lowe Enterprises Inc., Tritech Consultants, S333 Architecture + Urbanism Ltd, Hassell Studios, DP Group, and Kwang Sing Engineering Pte Ltd.

Market report overview

Market size in 2021 $19.4 billion
Average annual growth rate (AAGR) >4% during 2023-2026
Forecast period 2022-2026
Key sectors Commercial Construction, Industrial Construction, Infrastructure Construction, Energy and Utilities Construction, Institutional Construction and Residential Construction
Key stages Pre-Planning, Planning, Pre-Execution and Execution Stage
Key contractors Samsung Group, Shanghai Urban Construction (Group) Corp., Vinci SA, Nishimatsu Construction Co. Ltd, Toda Corp., Taisei Corp., China State Construction Engineering Corp. Ltd, China Communications Construction Group Ltd, Penta-Ocean Construction Co. Ltd, and Wai Fong Construction Pte Ltd
Key consultants Temasek Holdings (Private) Ltd, Arup Group Ltd, SAA Architects Pte Ltd, AECOM, Lowe Enterprises Inc., Tritech Consultants, S333 Architecture + Urbanism Ltd, Hassell Studios, DP Group, and Kwang Sing Engineering Pte Ltd

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 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

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), 2017-2026

Table 4: Singapore, Top Commercial Construction Projects by Value

Table 5: Singapore, Industrial Construction Output by Project Type (Real % Change), 2017-2026

Table 6: Singapore, Top Industrial Construction Projects by Value

Table 7: Singapore, Infrastructure Construction Output by Project Type (Real % Change), 2017-2026

Table 8: Singapore, Top Infrastructure Construction Projects by Value

Table 9: Singapore, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-2026

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

Table 11: Singapore, Institutional Construction Output by Project Type (Real % Change), 2017-2026

Table 12: Singapore, Top Institutional Construction Projects by Value

Table 13: Singapore, Residential Construction Output by Project Type (Real % Change), 2017-2026

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), 2020-2026

Figure 2: Singapore, Construction Output by Sector (Real % Change), 2020-2022 and 2023-2026

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), 2017-2026

Figure 7: Singapore, Construction Output Value, by Sector (Real, $ Million), 2017-2026

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

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

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

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

Figure 12: Singapore, Construction Projects Momentum Index

Figure 13: Region, Construction Projects Momentum Index

Figure 14: Singapore, Commercial Construction Output by Project Type (Real, $ Million), 2017-2026

Figure 15: Singapore, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 16: Singapore, Contracts Issued for Commercial Construction, in SGD Million

Figure 17: Singapore, Office Space Supply, In Thousand m2 Gross

Figure 18: Singapore, Progress Payment Issued for Commercial Construction (S$, Million)

Figure 19: Singapore, International Visitor Arrivals, In Thousands

Figure 20: Singapore, Office Price and Rental Indices, 1998=100

Figure 21: Singapore, Retail Space Supply, In Thousand m2

Figure 22: Singapore, Hotel Room Supply

Figure 23: Singapore, Retail Sales Index (2017=100), at Current Prices

Figure 24: Singapore, Industrial Construction Output by Project Type (Real, $ Million), 2017-2026

Figure 25: Singapore, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 26: Singapore, Contracts Issued for Industrial Construction, in SGD Million

Figure 27: Singapore, Industrial Production Index, 2019=100

Figure 28: Singapore, Purchasing Managers’ Index (PMI)

Figure 29: Singapore, Progress Payment Issued for Industrial Construction (S$, Million)

Figure 30: Singapore, Total Merchandise Exports, in SGD Billion

Figure 31: Singapore, Factory Space Supply

Figure 32: Singapore, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-2026

Figure 33: Singapore, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 34: Singapore, Progress Payments Issued for Civil Engineering Works, in SGD Million

Figure 35: Singapore, Contracts Issued for Civil Engineering, in SGD Million

Figure 36: Singapore, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-2026

Figure 37: Singapore, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 38: Singapore, Electricity Generated, in GWh

Figure 39: Singapore, Total Number of New Grid-Connected Solar PV Installations and Newly-Installed Capacity of Grid-Connected Solar PV Systems (in MWp)

Figure 40: Singapore, Institutional Construction Output by Project Type (Real, $ Million), 2017-2026

Figure 41: Singapore, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 42: Singapore, Progress Payments Certified for Institutional Construction (in SGD Million)

Figure 43: Singapore, Contracts Issued for Institutional Construction, in SGD Million

Figure 44: Singapore, Residential Construction Output by Project Type (Real, $ Million), 2017-2026

Figure 45: Singapore, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 46: Singapore, GFCF in Residential Buildings, (in SGD Million, 2015 Chained Prices)

Figure 47: Singapore, Progress Payments Issued for Residential Construction, in SGD Million

Figure 48: Singapore, Private Residential Property Price Index, 2009=100, % Change YoY

Figure 49: Singapore, Contracts Issued for Residential Construction, in SGD Million

Figure 50: Singapore, Supply of Private Residential Properties and Executive Condominiums (Units), % Change YoY

Figure 51: Singapore, Headquarters of Key Contractors (% of Total Project Pipeline)

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

Frequently Asked Questions

The construction market size in Singapore was valued at $19.4 billion in the year 2021.

 

 

 

The construction market growth rate in Singapore is more than 4% during 2023-2026.

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

Samsung Group, Shanghai Urban Construction (Group) Corp., Vinci SA, Nishimatsu Construction Co. Ltd, Toda Corp., Taisei Corp., China State Construction Engineering Corp. Ltd, China Communications Construction Group Ltd, Penta-Ocean Construction Co. Ltd, and Wai Fong Construction Pte Ltd are the key contractors in the Singapore construction market.

Temasek Holdings (Private) Ltd, Arup Group Ltd, SAA Architects Pte Ltd, AECOM, Lowe Enterprises Inc., Tritech Consultants, S333 Architecture + Urbanism Ltd, Hassell Studios, DP Group, and Kwang Sing Engineering Pte Ltd are the key consultants in the Singapore construction market.

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