Singapore Construction Industry Report 2024: Output to Grow by 3.3% in Real Terms in 2024 and 4.1% in 2025 - Forecast to 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Singapore Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)" report has been added to ResearchAndMarkets.com's offering.

The construction industry in Singapore is estimated to have grow by 3.3% in real terms in 2024 and 4.1% in 2025, driven by an increase in construction contracts awarded, coupled with rising investments in the energy, transport, and industrial sectors. Moreover, the total value of construction contracts issued grew by 34.1% YoY in the first nine months of 2024, while the total value of progress payments issued for construction rose by 8.2% YoY over the same period.

In early December 2025, Singapore's Ministry of Finance (MOF) announced an open call for public feedback for the 2025 Budget, which is scheduled to be presented in February 2025. The budget consultations will focus on exploring new policies and initiatives aimed at alleviating concerns such as high cost of living and job security. Some of the government's efforts include new Housing Board flat categorisation framework and increased subsidies for first-time homebuyers.

The construction industry is forecasted to grow at an average annual rate of 4.1% between 2026 to 2028, supported by investments in oil and gas, transport, and renewable energy projects, coupled with the government's aim to deploy at least 2GW-peak of solar energy by 2030 and reach carbon neutrality by 2050. In line with the plan, in October 2024, Singapore based construction companies, Hyundai Engineering and Construction and Surbana Jurong Group (SJ) signed a Memorandum of Understanding (MOU) to develop renewable energy infrastructure, and projects related to Small Modular Reactors (SMR) across the country

Scope

• Historical (2019-2023) and forecast (2024-2028) 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 our 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 business strategies using the analyst's critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors

Key Topics Covered:

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 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

For more information about this report visit https://www.researchandmarkets.com/r/xch456

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