866-997-4948(US-Canada Toll Free)

Construction in Singapore - Key Trends and Opportunities to 2023

Published By :

GlobalData

Published Date : Jan 2019

Category :

Construction

No. of Pages : 52 Pages

Construction in Singapore - Key Trends and Opportunities to 2023

Summary

Singapore's construction industry contracted by 8.4% and 3.5% in real terms in 2017 and 2018 respectively, following an average annual growth of 5.1% during the preceding three years.

The industry is expected to recover over the forecast period (2019-2023) and register positive growth, driven by a recovery in economic conditions and a revival in the manufacturing and service industry. The government's focus to develop the energy and transport infrastructure in the country is expected to drive the growth of the industry over the forecast period. The construction industry will also be supported by the governments focus on increasing the number of pre-schools across the country. Moreover, an increase in the number of building construction permits issued is expected to support new construction activity over the forecast period.

The industrys output value in real terms is expected to post a compound annual growth rate (CAGR) of 2.89% over the forecast period, compared to -1.17% during the review period (2014-2018).

GlobalDatas "Construction in Singapore - Key Trends and Opportunities to 2023", report provides detailed market analysis, information and insights into Singapores construction industry, including -
- Singapores 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 Singapores construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Key Highlights

- GlobalData expects the residential construction market to retain its leading position over the forecast period and account for 24.4% of the industrys total value in 2023. The market output over the forecast period will be supported by investment under the Home Improvement Program (HIP) for the refurbishment, repair and maintenance of the existing housing stock of the country. The government plans to upgrade 242,000 apartments which were built before 1986, of which construction works are underway in 120,000 apartments. The government plans to invest a sum of SGD4.0 billion (US$3.0 billion) on upgrading the apartments by 2019.
- Forecast-period growth in the energy and utilities construction market will be driven by the governments effort to meet the growing energy demand in the country. It plans to increase the solar power capacity from 140MWp in 2017 to 350Mwp by 2020 and 2GWp by 2025. Moreover, in October 2017, the government announced plans to invest SGD500.0 million (US$362.1 million) in six renewable energy projects by 2021-2022.
- GlobalData expects the infrastructure construction market to record a forecast-period CAGR of 5.09% in nominal terms, driven by the governments effort to upgrade the countrys rail infrastructure in order to enhance regional connectivity. The government increased its investment on transport infrastructure by 52.6% in the 2018 budget, rising from SGD9.0 billion (US$6.5 billion) in 2017 to SGD13.7 billion (US$10.3 billion) in 2018.
- Institutional markets growth in the forecast-period will be driven by the governments plan to increase the number of pre-schools in the country in order to develop the education sector and provide quality education. Accordingly, in August 2017, the government announced plans to add 40,000 new pre-schools in the country over the next five years, increasing the number from 160,000 in 2017 to 200,000 by 2022. In order to finance this, the government will increase the annual spending on pre-schools from SGD850.0 million (US$615.5 million) in 2017 to SGD1.7 billion (US$1.2 billion) by 2022.
- The total construction project pipeline in Singapore - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at SGD230.1 billion (US$172.1 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 70.4% of the pipeline value being in projects in the pre-execution and execution stages as of January 2019.

Scope

This report provides a comprehensive analysis of the construction industry in Singapore. It provides -
- Historical (2014-2018) and forecast (2019-2023) 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
1. EXECUTIVE SUMMARY
2. CONSTRUCTION OUTLOOK: AT-A-GLANCE
3. LATEST NEWS AND INDICATORS
4. KEY DRIVERS AND RISKS
4.1. Economic Performance
4.2. Political Environment
4.3. Demographics
4.4. Risk Profile
5. CONSTRUCTION OUTLOOK
5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics
6. KEY INDUSTRY PARTICIPANTS
6.1. Contractors
6.2. Consultants
7. APPENDIX
7.1. What is this Report About?
7.2. Definitions
8. ABOUT GLOBALDATA
8.1. GlobalData at a Glance
8.2. GlobalData Construction
8.3. Disclaimer
8.4. Contact Us

List of Tables
Table 1: Construction Outlook
Table 2: Singapore, Key Economic Indicators
Table 3: Singapore, Construction Output Value (nominal, SGD Million)
Table 4: Singapore, Construction Output Value (nominal, US$ Million)
Table 5: Singapore, Top Commercial Construction Projects by Value
Table 6: Singapore, Top Industrial Construction Projects by Value
Table 7: Singapore, Top Infrastructure Construction Projects by Value
Table 8: Singapore, Top Energy and Utilities Construction Projects by Value
Table 9: Singapore, Top Institutional Construction Projects by Value
Table 10: Singapore, Top Residential and Mixed-Use Construction Projects by Value
Table 11: Singapore, Key Contractors
Table 12: Singapore, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores

List of Figures
Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: Singapore, Construction Projects Pipeline by Sector (SGD Billion)
Figure 3: Construction Contracts Awarded (Total Value In Billion)
Figure 4: Total Residential Price Index (2009 Prices)
Figure 5: Singapore, Risk Profile
Figure 6: Singapore, Risk Comparison
Figure 7: Singapore, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
Figure 8: Singapore, Construction Output Value, Growth Matrix
Figure 9: Singapore, Construction Output Value, by Sector (SGD Million), 2014-2023
Figure 10: Singapore, Construction Projects Pipeline, Projected Annual Spending by Stage (SGD Million), 2018-2023
Figure 11: Singapore, Construction Projects Pipeline, Value by Stage (SGD Million)
Figure 12: Singapore, Commercial Construction Output by Project Type (SGD Million), 2014-2023
Figure 13: Singapore, Commercial Construction Projects Pipeline, Value by Stage (SGD Million)
Figure 14: Singapore, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (SGD Million), 2018-2023
Figure 15: Singapore, Industrial Construction Output by Project Type (SGD Million), 2014-2023
Figure 16: Singapore, Industrial Construction Projects Pipeline, Value by Stage (SGD Million)
Figure 17: Singapore, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (SGD Million), 2018-2023
Figure 18: Singapore, Infrastructure Construction Output by Project Type (SGD Million), 2014-2023
Figure 19: Singapore, Infrastructure Construction Projects Pipeline, Value by Stage (SGD Million)
Figure 20: Singapore, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (SGD Million), 2018-2023
Figure 21: Singapore, Energy and Utilities Construction Output by Project Type (SGD Million), 2014-2023
Figure 22: Singapore, Energy and Utilities Construction Projects Pipeline, Value by Stage (SGD Million)
Figure 23: Singapore, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (SGD Million), 2018-2023
Figure 24: Singapore, Institutional Construction Output by Project Type (SGD Million), 2014-2023
Figure 25: Singapore, Institutional Construction Projects Pipeline, Value by Stage (SGD Million)
Figure 26: Singapore, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (SGD Million), 2018-2023
Figure 27: Singapore, Residential Construction Output by Project Type (SGD Million), 2014-2023
Figure 28: Singapore, Residential Construction Projects Pipeline, Value by Stage (SGD Million)
Figure 29: Singapore, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (SGD Million), 2018-2023
Figure 30: Singapore, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 31: Singapore, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 32: Singapore, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 33: Singapore, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)

Make an enquiry before buying this Report

Please fill the enquiry form below.

  • Full Name *
  • Your Email *
  • Job Title
  • Company
  • Phone No. * (Pls. Affix Country Code)
  • Message
  • Security Code *