PUBLISHER: GlobalData | PRODUCT CODE: 1140484
PUBLISHER: GlobalData | PRODUCT CODE: 1140484
Singapore Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
GlobalData has revised down its estimated growth for Singapore's construction industry in 2022, with the industry now expected to grow by 3.5% in real terms this year-compared to a prior estimate of a 5.7% growth. This downward revision is attributed to supply chain disruptions, surging inflation, a rise in construction material costs, and a fall in the total value of contracts awarded for construction. According to the Department of Statistics (DOS), the prices of construction materials such as cement, steel reinforcement bars, ready mixed concrete, and granite registered sharp year-on-year (Y-o-Y) growths in the first seven months of 2022. The rise in construction material prices may weigh on investor confidence and hold back investment decisions on non-critical projects.
The industry is expected to register an annual average growth of 4.3% from 2023 to 2026, supported by investment on transport, electricity, water, sewage, and housing infrastructure projects. As part of the 2022 Budget, the government announced a plan to issue approximately SGD35 billion ($26.3 billion) in green bonds by 2030 to fund public-sector green infrastructure projects. In the latest development, the government issued its SGD2.4 billion ($1.8 billion) Inaugural Sovereign Green Bond in early August 2022. Proceeds from the sale of the bond will be used to finance projects with environmental benefits, such as the Jurong Region MRT Line and the Cross Island MRT Line projects. It will also support the construction of renewable energy projects and developments that will improve buildings' energy efficiency.
Over the long term, growth in Singapore's construction industry will be supported by investments as part of the Singapore Green Plan 2030. Some of the main targets outlined in the plan include expanding the length of the railway network from 230km in 2020 to 360km by early 2030s, increasing the length of cycling paths from 460km in 2020 to 1,320km in 2030, and building 60,000 electric vehicle (EV) charging points across the country by 2030.
The 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 (2017-2021) and forecast (2022-2026) 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), 2017-26
- 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 (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 Material Market Prices, % Change YoY
- Figure 13: Singapore, Fixed Asset Investment (FAI) Commitments, In SGD Million
- Figure 14: Singapore, Construction Projects Momentum Index
- Figure 15: South-East Asia, 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, In SGD Million
- Figure 20: Singapore, International Visitor Arrivals (In Thousands) and Room Revenue of Gazetted Hotels (In SGD Million)
- Figure 21: Singapore, Supply of Office Space in the Pipeline, GFA, In Thousand m2
- Figure 22: Singapore, Supply of Retail Space in the Pipeline, GFA, In Thousand m2
- Figure 23: Singapore, Hotel Room Supply
- Figure 24: Singapore, Office Price and Rental Indices, 1998=100
- Figure 25: Singapore, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 26: Singapore, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 27: Singapore, Contracts Issued for Industrial Construction, in SGD Million
- Figure 28: Singapore, Industrial Production Index, 2019=100
- Figure 29: Singapore, Purchasing Managers' Index (PMI)
- Figure 30: Singapore, Total Merchandise Exports, in SGD Billion
- Figure 31: Singapore, Factory Space Supply, GFA, In Thousand m2
- Figure 32: Singapore, Progress Payment Issued for Industrial Construction (SGD Million)
- Figure 33: Singapore, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 34: Singapore, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 35: Singapore, Progress Payments Issued for Civil Engineering Works, in SGD Million
- Figure 36: Singapore, Contracts Issued for Civil Engineering, in SGD Million
- Figure 37: Singapore, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 38: Singapore, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 39: Singapore, Electricity Generated, in GWh
- Figure 40: Singapore, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
- 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), 2017-26
- 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
- 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)
