As stated in the latest market research report titled “Singapore Construction Market Report by Sector (Residential, Commercial, Industrial, Infrastructure (Transportation), Energy and Utilities), Region (North-East, Central, West, East, North) and Forecast 2025-2033” published by IMARC Group Report an in-depth analysis of the industry with insights into the market. It includes competitive and regional analyzes as well as current market developments.
Market size and future growth potential:
The size of the construction market in Singapore reached US$39,210.3 million in 2024. Looking forward, IMARC Group expects the market to reach $56,683.9 million by 2033, registering a growth rate (CAGR) of 4.18% during 2025-2033.
Latest Market Trends:
The construction industry in Singapore is currently undergoing a structural transformation, driven by new solutions and the trend towards sustainable development. The dominant trend over the last decade has been the introduction of Design for Manufacturing and Assembly (DfMA), which aims to shift a large proportion of construction activity away from construction sites and towards more controlled environments such as factories. This has not only resulted in higher productivity and shorter project timelines, but also improved safety on site and a reduction in waste. In recent years, the industry has also proactively implemented green building initiatives under the Building and Construction Authority (BCA) Green Mark scheme.
Buildings are becoming increasingly energy efficient, sustainable, biophilic and digitally revolutionary in response to legislation and demand from building owners and users for more sustainable and healthy buildings. Building Information Modeling (BIM) is used in project planning and management to coordinate project components and detect collisions before construction begins. Drones are used to monitor locations. The Internet of Things (IoT) is used as part of connected devices, monitoring site conditions in real time, allowing data to be collected and operations on a construction site to be optimized throughout the life of a project.
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Market Scope and Growth Factors:
The medium to longer-term outlook for Singapore's construction sector is supported by public sector spending and long-term development plans, such as the government's commitment to invest in the development of the country's infrastructure, as shown by the continuation of the Surface Transport Master Plan with new MRT lines and upgraded train stations. Due to their size, public infrastructure projects offer a reliable minimum requirement for construction work and resources. Public housing projects implemented by the government's Housing & Development Board (HDB) provide a formal pipeline of housing projects to meet national housing needs.
In addition to public sector projects, the private sector also produces numerous developments such as integrated resorts, commercial buildings and retail developments, supporting Singapore's global role as a business and tourism hub. National initiatives such as the Jurong Innovation District also seek to develop Singapore into a global hub for advanced manufacturing where industrial and research facilities are needed. The need for asset maintenance, retrofitting of old buildings and urban redevelopment, through government policy and private enterprise, has also fostered a continuous and forward-looking market for Singapore's construction industry.
Singapore Construction Market Outlook, Highlights and Segmentation Analysis:
The market report provides a comprehensive analysis of the segments and highlights those with the largest market share in the construction sector in Singapore. It contains forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Segmentation by sector:
• Reside
• Commercial
• Industrial
• Infrastructure (transport)
• Energy and utilities
Segmentation by region:
• Northeast
• Central
• West
• East
• North
Competitor landscape:
The report provides an in-depth examination of the competitive landscape. It includes a thorough competitive analysis that includes market structure, key player positioning, leading success strategies, a competitive dashboard and a business valuation quadrant.
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Key highlights of the report:
• Historical market development
• Future market forecasts
• Impact of COVID-19 on market dynamics
• Industry Competition Analysis (Porter's Five Forces)
• Market dynamics and growth drivers
• SWOT analysis (strengths, weaknesses, opportunities, threats)
• Market ecosystem and value creation framework
• Competitive positioning and benchmarking strategies
Key Benefits of the Report:
• This report provides market leaders and new entrants with accurate sales estimates for the overall market and its key sub-segments.
• Stakeholders can use this report to gain a deeper understanding of the competitive landscape to strategically position their companies and develop effective go-to-market strategies.
• The report provides stakeholders with valuable insights into market dynamics and provides a comprehensive analysis of key drivers, constraints, challenges and opportunities.
Why choose IMARC Group:
• Extensive industry expertise
• Robust research methodology
• Insightful data-driven analysis
• Accurate forecasting capabilities
• Established track record
• Reach with an extensive network
• Tailored solutions to meet customer needs
• Commitment to strong customer relationships and focus
• On-time project completion
• Cost-effective service options
Note: If you require specific information not included in the current report, we are happy to offer customization options to meet your needs.
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