Singapore Construction Industry Report 2025: Output to Grow by 4.1% this Year, Driven by Rising Investments in Commercial, Housing, and Transport Projects - Forecast to 2029 - 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 2029 (Q1 2025)" report has been added to ResearchAndMarkets.com's offering.

The analyst expects the construction industry in Singapore to grow by 4.1% in real terms in 2025, driven by rising investments in commercial, housing, and transport infrastructure projects.

According to the Department of Statistics (DOS), the total value of construction contracts issued grew by 29.5% year-on-year (YoY) in 2024, while the total value of progress payments issued for construction rising by 10% YoY during the same period. The Building and Construction Authority (BCA) estimates construction demand in 2025 to range between SGD47-53 billion ($34.5-$38.9 billion), with major projects such as the Changi Terminal 5 expansion, Marina Bay Sands expansion, and biomedical hub development, contributing to growth in 2025.

The construction industry is then forecasted to continue to grow between 2026 to 2029, increasing at an average annual rate of 4.1%. Growth will be supported by investments in transport, as well as renewable energy projects, including a government initiative to partner with US tech firm Microsoft and deploy at least 2GW-peak of solar energy by 2030. As a result, this will help Singapore reach its goal of carbon neutrality by 2050.

Also, as part of this plan, in January 2025, Singapore's Energy Market Authority (EMA) awarded, PacificLight Power, the Singapore based power generator and electricity retailer, a SGD1.4 billion ($1 billion) contract to construct a 600MW hydrogen-compatible natural gas power plant on Jurong Island. The project is set to be completed by 2029. Earlier, in late August 2024, the Australian government approved the SGD18.3 billion ($13.5 billion) cable project to ship energy from Australia to Singapore through a 4,300km undersea cable project by 2030.

Scope

• Historical (2020-2024) and forecast (2025-2029) 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 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/a4s9vt

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