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Singapore Construction Market Size, Share, Trends, Analysis: By Type: General Construction, Heavy and Civil Engineering; By End Use: Commercial, Residential, Industrial, Medical and Healthcare, Education and Research, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Singapore Construction Market Size
The Singapore construction market is projected to grow at a CAGR of 4.2% between 2024 and 2032.
Singapore Construction Market Outlook
- As per the Department of Statistics in Singapore, 33,796 construction contracts were awarded in the public and private sectors in 2023.
- As of 2023 15,63,641 total residential dwelling units existed in Singapore, as per the Department of Statistics.
- Over 94,000 individuals over the age of 15 were employed in the construction industry in Singapore in the year 2023.
Singapore Construction Market Growth
The expansion of the Singapore construction market is propelled by increased demand from the commercial sector, particularly in areas such as healthcare, education, and research.
The commercial sector includes office buildings, stores, hotels, and other structures built for business rather than living in them. Being known as a global financial centre; Singapore has always been demanded to provide top-notch standards of such spaces, especially in prime areas like the Central Business District (CBD). As of January 2024, a subsidiary of Soilbuild Construction Group Ltd. secured a major demolition contract in Tuas located in the West region of Singapore.
Growth in the construction industry in Singapore is led by constant improvements in infrastructure and innovations in projects to modernisation. In August 2022, Singaporean, United Overseas Bank signed a memorandum of understanding with Kimly Construction to digitalise finance processes, which will help with their green projects.
Housing projects such as condominiums, apartments or HDB flats are all part of residential construction which also covers landed homes among others. Singapore is densely populated so there is still an urgent requirement for more houses that can accommodate its citizens and permanent residents alike, going forward housing redevelopment initiatives will drive demand for construction projects.
Singapore Construction Market Segmentation
Singapore Construction Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- General Construction
- Heavy and Civil Engineering
- Others
Market Breakup by End Use
- Commercial
- Residential
- Industrial
- Medical and Healthcare
- Education and Research
- Others
Singapore Construction Market Share
General construction activities such as residential, commercial, institutional and industrial construction projects lead to growth in the construction market in the country. construction of office buildings, retail spaces, hotels, and other commercial facilities is indicative of a significant status of the country as a business hub.
Leading Companies in the Singapore Construction Market
Major market players are expanding their outreach through a rising emphasis on green building and sustainability, urban redevelopment and infrastructure projects and planning for resilience and adaptation to rapidly changing climates.
- Kimly Construction Pte. Ltd.
- CSC Holdings Limited
- Lum Chang Holdings Limited
- CPC Construction Pte Ltd.
- Soilbuild Construction Group Ltd.
- Woh Hup (Private) Limited
- Santarli Construction Pte Ltd.
- Koh Kock Leong Enterprise Pte Ltd.
- Jurong Engineering Limited
- LS2 Design & Construction Pte Ltd.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by End Use |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Construction Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Construction Historical Market (2018-2023)
8.3 Asia Pacific Construction Market Forecast (2024-2032)
9 Singapore Construction Market Overview
9.1 Key Industry Highlights
9.2 Singapore Construction Historical Market (2018-2023)
9.3 Singapore Construction Market Forecast (2024-2032)
10 Singapore Construction Market by Type
10.1 General Construction
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Heavy and Civil Engineering
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Others
11 Singapore Construction Market by End Use
11.1 Commercial
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Residential
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Industrial
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Medical and Healthcare
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Education and Research
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Kimly Construction Pte. Ltd.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 CSC Holdings Limited
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Lum Chang Holdings Limited
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 CPC Construction Pte Ltd.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Soilbuild Construction Group Ltd.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Woh Hup (Private) Limited
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Santarli Construction Pte Ltd.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Koh Kock Leong Enterprise Pte Ltd.
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Jurong Engineering Limited
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 LS2 Design & Construction Pte Ltd.
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Construction Market: Key Industry Highlights, 2018 and 2032
2. Singapore Construction Market: Key Industry Highlights, 2018 and 2032
3. Singapore Construction Historical Market: Breakup by Type (USD Million), 2018-2023
4. Singapore Construction Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Singapore Construction Historical Market: Breakup by End Use (USD Million), 2018-2023
6. Singapore Construction Market Forecast: Breakup by End Use (USD Million), 2024-2032
7. Singapore Construction Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.2% between 2024 and 2032.
The construction market is categorised into general construction, heavy and civil engineering, and others.
The market key players are Kimly Construction Pte. Ltd., CSC Holdings Limited, Lum Chang Holdings Limited, CPC Construction Pte Ltd., Soilbuild Construction Group Ltd., Woh Hup (Private) Limited, Santarli Construction Pte Ltd., Koh Kock Leong Enterprise Pte Ltd., Jurong Engineering Limited, and LS2 Design & Construction Pte Ltd. among others.
The market is broken down into commercial, residential, industrial, medical, healthcare, education, research and others.
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