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Singapore Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)

Publisher GlobalData
Published Jun 20, 2025
SKU # GBDT20187085

Description

Singapore Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)

Summary

GlobalData expects the construction industry in Singapore to grow by 4.1% in real terms in 2025, driven by an increase in construction contracts awarded, coupled with rising investments in the energy, transport, and industrial sectors. According to the Department of Statistics (DOS), the total value of construction contracts issued grew by 45.9% year-on-year (YoY) in the first three months of 2025, while the total value of progress payments issued rose by 8.9% YoY during the same period. The Building and Construction Authority (BCA) estimates 2025’s construction demand to range between SGD47–53 billion ($35.6–$40.1 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 forecasted to grow at an average annual rate of 4.1% between 2026 to 2029, supported by investments in transport and renewable energy projects, coupled with the government’s plan to deploy at least 2GW-peak of solar energy by 2030 and reach carbon neutrality by 2050. Growth during the forecast period will also be driven by the Land Transport Authority's (LTA) Land Transport Master Plan 2040. This government-led initiative includes an estimated investment of SGD34.4 billion ($26 billion) to construct railway stations, transit priority corridors (TPCs), and 700km of cycling paths by 2030, with plans to expand to 1,000km by 2040. In line with the initiative, the government plans to construct 87km of new cycling paths across seven towns: Geylang, Hougang, Kaki Bukit, Marine Parade, Potong Pasir, Sengkang, and Serangoon by 2030, with construction expected to begin in 2026.

GlobalData’s Construction in Singapore – Key Trends and Opportunities to 2029 (Q2 2025) report provides detailed market analysis, information, and insights into Singapore’s construction industry, including -
  • Singapore’s 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 Singapore’s construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope

This report provides a comprehensive analysis of the construction industry in Singapore. It provides -
  • 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 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 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
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Singapore, Key Economic Indicators
Table 3: Singapore, Commercial Construction Output by Project Type (Real % Change), 2020–29
Table 4: Singapore, Top Commercial Construction Projects by Value
Table 5: Singapore, Industrial Construction Output by Project Type (Real % Change), 2020–29
Table 6: Singapore, Top Industrial Construction Projects by Value
Table 7: Singapore, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
Table 8: Singapore, Top Infrastructure Construction Projects by Value
Table 9: Singapore, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
Table 10: Singapore, Top Energy and Utilities Construction Projects by Value
Table 11: Singapore, Institutional Construction Output by Project Type (Real % Change), 2020-29
Table 12: Singapore, Top Institutional Construction Projects by Value
Table 13: Singapore, Residential Construction Output by Project Type (Real % Change), 2020-29
Table 14: Singapore, Top Residential Construction Projects by Value
Table 15: Singapore, Key Contractors
Table 16: Singapore, Key Consultants
Table 17: Singapore, Construction Output Value (Real, $ Million)
Table 18: Singapore, Construction Output Value (Nominal, SGD Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: South and South-East Asia, Construction Output (Real % Change), 2023–29
Figure 2: Singapore, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
Figure 3: Singapore, Risk Summary
Figure 4: Singapore, Risk Regional Comparison
Figure 5: Singapore, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
Figure 6: Singapore, Construction Output Value, by Sector (Real, $ Million), 2020–29
Figure 7: Singapore, Construction Value-add (SGD Million, 2015 Chained Prices)
Figure 8: Singapore, Total Fixed Capital Formation in Construction (2015 Chained Prices, SGD Million)
Figure 9: Singapore, Progress Payments Certified for Construction (SGD Million)
Figure 10: Singapore, Construction Contracts Awarded (SGD Million)
Figure 11: Singapore, Construction Material Market Prices, % Change YoY
Figure 12: Singapore, Cessation of Construction Business Entities
Figure 13: Singapore, Commercial Banks: Loans and Advances to Residents for Construction, End of Period, In SGD Million
Figure 14: Singapore, Changes in Construction Employment, Number, (Compared to Previous Quarter)
Figure 15: Singapore, Construction Projects Momentum Index
Figure 16: South and South-East Asia, Construction Projects Momentum Index
Figure 17: Singapore, Commercial Construction Output by Project Type (Real, $ Million), 2020–29
Figure 18: Singapore, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: Singapore, Progress Payment Issued for Commercial Construction (SGD Million)
Figure 20: Singapore, Contracts Issued for Commercial Construction (SGD Million)
Figure 21: Singapore, Retail sales index, Chained Volume Terms, 2017=100
Figure 22: Singapore, Office Price, and Rental Index, 1998=100
Figure 23: Singapore, Supply of Retail Space in the Pipeline, GFA, In Thousand m2
Figure 24: Singapore, Supply of Office Space in the Pipeline, GFA, In Thousand m2
Figure 25: Singapore, Supply of Hotel Rooms in the Pipeline, GFA, In Thousand m2
Figure 26: Singapore, International Visitor Arrivals (In Thousands)
Figure 27: Singapore, Industrial Construction Output by Project Type (Real, $ Million), 2020–29
Figure 28: Singapore, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Singapore, Manufacturing Value-add (SGD Million, 2015 Chained Prices)
Figure 30: Singapore, Contracts Issued for Industrial Construction (SGD Million)
Figure 31: Singapore, Industrial Production Index, 2019=100
Figure 32: Singapore, Purchasing Managers' Index (PMI)
Figure 33: Singapore, Total Merchandise Exports (SGD Billion)
Figure 34: Singapore, Progress Payment Issued for Industrial Construction (SGD Million)
Figure 35: Singapore, Factory Space Supply, % Change YoY
Figure 36: Singapore, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
Figure 37: Singapore, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 38: Singapore, Progress Payments Issued for Civil Engineering Works (SGD Million)
Figure 39: Singapore, Contracts Issued for Civil Engineering (SGD Million)
Figure 40: Singapore, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
Figure 41: Singapore, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 42: Singapore, Electricity Generated, in GWh
Figure 43: Singapore, Total Number of New Grid-Connected Solar PV Installations and Newly-Installed Capacity of Grid-Connected Solar PV Systems (in MWp)
Figure 44: Singapore, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
Figure 45: Singapore, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 46: Singapore, Health and Social Services Value-Add (SGD Million, 2015 Chained Prices)
Figure 47: Singapore, Education services Value-Add (SGD Million, 2015 Chained Prices)
Figure 48: Singapore, Progress Payments for Institutional Construction (SGD Million)
Figure 49: Singapore, Contracts Issued for Institutional Construction (SGD Million)
Figure 50: Singapore, Residential Construction Output by Project Type (Real, $ Million), 2020-29
Figure 51: Singapore, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 52: Singapore, Real estate Value-Add (in SGD Million, 2015 Chained Prices)
Figure 53: Singapore, Progress Payments Issued for Residential Construction (SGD Million)
Figure 54: Singapore, Contracts Issued for Residential Construction (SGD Million)
Figure 55: Singapore, Private Residential Property Price Index (2009=100)
Figure 56: Singapore, GFCF in residential buildings (2015 chained prices, SGD Million)
Figure 57: Singapore, Supply of Private Residential Properties in the Pipeline by Development Status (End of Period), Quarterly
Figure 58: Singapore, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 59: Singapore, Headquarters of Key Consultants (% of Total Project Pipeline)

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