Singapore Construction Industry Databook 2024: Significant Investments Are Being Made In Renewable Energy Projects, To Support Singapore's Goal Of Achieving A 2GW Peak Of Solar Energy By 2030

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The "Singapore construction industry Databook Series - market Size & Forecast by Value and Volume (area and units), Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Singapore is expected to grow by 2% to reach SGD 18.54 billion in 2024. The industry is expected to grow steadily over the next four quarters, with the growth momentum continuing over the forecast period. A CAGR of 5.5% is projected during 2024-2028, with the country's construction output expected to reach SGD 20.08 billion by 2028, indicating substantial growth potential.
The construction industry in Singapore is poised for growth, driven by government initiatives, technological advancements, and a focus on sustainability. As the sector navigates regulatory changes and adapts to evolving market demands, stakeholders must remain proactive in leveraging opportunities and addressing challenges. By aligning strategies with government initiatives and industry trends, executives can successfully navigate the future of Singapore's construction industry.
Commercial Construction: Evolving Landscape

• Investment in Commercial Spaces: Government initiatives to revitalize the tourism sector and invest in data centers and logistics facilities are expected to benefit the commercial construction sector.
• Focus on Sustainability: Developers increasingly incorporate green building standards and energy-efficient designs to meet regulatory requirements and consumer demand for sustainable commercial spaces.

Institutional Construction: Enhancing Public Services

• Increased Spending on Education and Healthcare: The government is allocating significant funds to develop educational and healthcare facilities, aiming to improve public services and address the needs of a growing population.
• Emphasis on Disaster Resilience: New institutional projects are incorporating disaster-resistant designs to enhance safety and sustainability in public facilities, particularly given Singapore's vulnerability to natural disasters.

Industrial Construction: Supporting Economic Growth

• Expansion of Manufacturing Facilities: The industrial construction sector is witnessing growth due to increased demand for manufacturing and logistics facilities, driven by the government's focus on enhancing local production capabilities and reducing reliance on imports.
• Investment in Renewable Energy Infrastructure: Significant investments are being made in renewable energy projects, particularly solar power, to support Singapore's goal of achieving a 2GW peak of solar energy by 2030.

Infrastructure Construction: Building for the Future

• Major Infrastructure Investments: The government is investing heavily in transportation infrastructure, including the development of the Cross Island MRT Line, improvements to road and drainage systems, and the expansion of Changi Airport Terminal 5 and Tuas Port.
• Long-Term Infrastructure Planning: Continued investment in public infrastructure is essential for addressing urbanization challenges and supporting economic development. The government focuses on long-term infrastructure planning to enhance connectivity and improve public services nationwide.

This market intelligence report offers a comprehensive view of market opportunities in the building and infrastructure construction industry at the country level.

With over 100+ KPIs covering growth dynamics in building and infrastructure construction, construction cost structure analysis, and analysis by key cities in Singapore, this databook provides a wealth of data-centric analysis with charts and tables, ensuring stakeholders are fully informed.

• Market Dynamics by Value, Volume, and Number of Units: This report provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in Singapore's building and infrastructure construction industry.
• The report provides a detailed analysis of the residential construction market, covering various types of construction, development stages, price points, and key cities. KPIs include value, volume, and number of units, offering a comprehensive view of this sector.
• Commercial Construction Outlook: Provides construction outlook by value and volume across office buildings, retail buildings, hospitality buildings, restaurant buildings, and sports facilities.
• Institutional Construction Outlook: Provides construction outlook by value and volume across manufacturing plant buildings, metal & material processing buildings, and chemical & pharmaceutical buildings.
• Industrial Construction Outlook: Provides construction outlook by value and volume across manufacturing plants and educational buildings.
• Infrastructure Construction Outlook: This report provides growth dynamics and market analysis for three key sections: marine and inland, utility system and transport infrastructure construction.
• City Level Analysis: Provides outlook of the top 10 cities in Singapore by construction value.
• The Construction Cost Structure Analysis module in this report provides a detailed outlook on construction costs by construction value, such as material, labor, equipment, and others. At a granular level, it offers a comprehensive material cost analysis by type of materials and labor cost by type of work, ensuring stakeholders deeply understand the cost structure.

Market Data and Insights:

This report provides market size and forecast across 40+ construction segments for ten years from 2019 - 2028 in Singapore.

KPIs covered include the following:

• Market size by value
• Market size by volume of construction
• Number of units

Singapore Economic Indicators

Singapore Top Cities Construction Data

Singapore Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Housing type
• Key cities
• Price point/income level
• Construction stage

Singapore Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Green building by Housing type
• Green building by Key cities
• Green building by Price point/income level

Singapore Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Office
• Retail
• Hospitality
• Restaurant
• Entertainment
• Sports facility
• Other commercial building construction
• Construction stage

Singapore Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Office green building construction
• Retail green building construction
• Hospitality green building construction
• Restaurant green building construction
• Entertainment green building construction
• Sports facility green building construction
• Other commercial green building construction

Singapore Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)

• Manufacturing Plants building construction
• Chemical & Pharmaceutical building construction
• Metal & Material Processing building construction
• Construction stage

Singapore Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Healthcare construction
• Educational construction
• Other building construction
• Construction stage

Singapore Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Healthcare green building construction
• Educational green building construction

Singapore Infrastructure Construction Sectors: 10-year market size & forecast in value terms by

• Marine and inland water infrastructure
• Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
• Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
• Construction stage (new construction, re-development & maintenance)

Singapore Green Infrastructure Construction: 10-year market size & forecast in value terms

Singapore Construction Cost Structure Analysis: 10-year market size & forecast in value terms

• Cost Analysis by Type (Material, Labour, Equipment, Others)
• By Material & Work Cost: It provides the cost outlook of material costs by type of materials used in construction (Cement, Steel, Sand, Aggregates, Bricks, Wood, Windows Glazing, Flooring, Plumbing, Electrical, Painting, Other Materials)
• By Labour Cost: It provides the cost outlook of labour costs (RCC Construction Work, Masonry and Plastering Work, Plumbing Work, Water Proofing Work, Carpentry Work, Electrical Work, Tile Fixing Work, CATV Antenna Points, Painting Work, Departmental Labour)
• By Type of Construction (New, Re-Development)
• By Material Cost: It provides the cost outlook of material costs by type of materials used in construction (Concreting Sand, Stone Aggregate, Ordinary Portland Cement, Reinforced Concrete (Grade 30 MPA), Reinforced Concrete (Grade 40 MPA), High Tensile Steel bars, Mild Steel Round Bars, Structural Steelwork, Plywood Formwork (1800*900*12mm), Clay Bricks)
• Type of Labour (Skilled vs. unskilled)

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