Singapore Construction Market by Type (Renovation, and New Construction), by Construction Method (Traditional, Prefabricated/Modular, 3D-Printed, and Green/Sustainable), by Contractor Type (Large Contractor, Medium Contractor, and Small Contractor), and Sector (Real Estate, Commercial, Infrastructure, Industrial) – Industry Trends and Forecast, 2025–2030
Industry: Construction & Manufacturing | Publish Date: 09-Jun-2025 | No of Pages: 85 | No. of Tables: 118 | No. of Figures: 63 | Format: PDF | Report Code : CM2222
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Singapore Construction Industry Overview
The Singapore Construction Market size was valued at USD 33.78 billion in 2024, and is projected to grow to USD 35.93 billion by 2025. Additionally, the industry is expected to continue its growth trajectory, reaching USD 43.22 billion by 2030, with a CAGR of 3.8% from 2025 to 2030.
The market is experiencing notable growth driven by a surge in large-scale infrastructure projects such as the Keppel Sakra Cogen Plant, GSK Tuas Vaccines Facility expansion, and the Changi Airframe MRO facility, alongside increased investments totaling USD 3.5 billion in 2024, with strong contributions from the energy and road transport sectors. These developments underscore the nation's commitment to infrastructure enhancement and sustainability.
However, regulatory complexities, including extensive permitting procedures and shifting policies, pose significant challenges by delaying projects and increasing costs. Despite these hurdles, the growing adoption of digital tools like Building Information Modeling (BIM) and advanced technologies such as AI, IoT, and cloud computing offers promising opportunities for improved efficiency and continued market expansion.
Surge in Large-Scale Construction Projects Boosts the Singapore Construction Market Trends
The construction market in the country is witnessing a significant surge, fueled by substantial infrastructure projects. For instance, in 2024 the key initiatives driving this growth are the development of the Keppel Sakra Cogen Plant with a capacity of 600 MW, the expansion of the GSK Tuas Vaccines Facility, the infrastructure of the DSV Pearl Warehouse Facility, the establishment of the Changi Airframe MRO facility, and the Landmark Condominium Complex. These strategic initiatives are instrumental in propelling the growth of the infrastructure market and enhancing the nation's infrastructure and renewable energy capabilities.
Increased Investments in Construction Projects Drives the Singapore Construction Market Demand
The construction market in Singapore is expanding significantly due to increased investments in infrastructure projects. According to Global Infrastructure Hub's report, the sector attracted a substantial USD 3.5 billion in investments in 2024.
The energy sector led with a USD 1.3 billion investment, closely followed by the road transport sector with USD 821 million. This investment trend is expected to continue, leading to further growth and progression in Singapore construction market share.
Regulatory Complexities Hinders the Singapore Construction Market Expansion
Overcoming regulatory complexities poses a significant challenge in the construction market. Infrastructure projects often encounter hurdles due to the intricate network of government regulations and permitting procedures.
Infrastructure initiatives require obtaining numerous permits and approvals from governmental bodies at local, regional, and national levels. These mandates encompass adherence to zoning regulations, environmental assessments, compliance with building codes, safety standards, and various regulatory requirements.
Lengthy permit acquisition processes, bureaucratic inefficiencies, and regulatory disparities among different jurisdictions can significantly prolong project timelines and inflate costs. Moreover, fluctuations in regulations or unexpected policy changes can disrupt ongoing projects and deter potential investments in the infrastructure market.
Integration of Digitalization and BIM Presents Lucrative Opportunity for the Market Expansion
The construction sector is undergoing a profound digital transformation, largely propelled by the rising adoption of Building Information Modeling (BIM), which is creating new growth opportunities. BIM facilitates digital design, simulation, and infrastructure management, enhancing accuracy, collaboration, and the efficient use of resources.
In line with this evolution, ALLPLAN released Allplan 2024-1 in April 2024, aimed at advancing BIM functionalities and optimizing cloud-based workflows highlighting the industry's move toward fully digital project execution. Additionally, the integration of AI, IoT, and cloud technologies is driving real-time collaboration, predictive maintenance, and streamlined facility management.
Competitive Landscape
The key players operating in the Singapore construction industry include KTC Group, Paramount Eco Hub Pte Ltd, Lum Chang Building Contractors Pte Ltd, McConnell Dowell South East Asia Pte Ltd, Hwa Seng Builder Pte Ltd (HSB), Koon Holdings Limited, Sim Lian Construction Co (Pte) Ltd, ABLE Construction Pte. Ltd, K. A Building Construction Pte Ltd, Keppel Land, Kimly Construction, Soilbuild Construction Group, CPC Construction PTE Ltd, Wan Chung Construction (Singapore) Pte. Ltd., CHC Construction Pte. Ltd., and others.
Singapore Construction Market Key Segments
By Type
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Renovation
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New Construction
By Construction Method
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Traditional Construction
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Prefabricated/Modular Construction
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3D-Printed Construction
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Green/Sustainable Construction
By Type of Contractor
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Large Contractor
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Medium Contractor
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Small Contractor
By Sector
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Real Estate
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Residential
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Affordable
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Luxury
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Commercial
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Retail Buildings
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Office Buildings
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Hospitality
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Healthcare Facilities
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Educational Institutes
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Entertainment Ventures
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-
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Infrastructure
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Transportation
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Airport
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Port
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Rail
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Road
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Water and Wastewater
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Energy
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Telecommunication
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Industrial
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Manufacturing Plant
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Warehouses
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Power Plants
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Oil Refineries
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Chemical Plants
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Key Players
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KTC Group
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Paramount Eco Hub Pte Ltd
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Lum Chang Building Contractors Pte Ltd
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McConnell Dowell South East Asia Pte Ltd
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Hwa Seng Builder Pte Ltd (HSB)
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Koon Holdings Limited
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Sim Lian Construction Co (Pte) Ltd
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ABLE Construction Pte. Ltd
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K. A Building Construction Pte Ltd
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Keppel Land
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Kimly Construction
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Soilbuild Construction Group
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CPC Construction PTE Ltd
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Wan Chung Construction (Singapore) Pte. Ltd.
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CHC Construction Pte. Ltd
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2024 |
USD 33.78 Billion |
|
Revenue Forecast in 2030 |
USD 43.22 Billion |
|
Growth Rate |
CAGR of 3.8% from 2025 to 2030 |
|
Analysis Period |
2024–2030 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
15 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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