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(Construction.IndustryNews247.Com, February 08, 2019 ) Singapore's construction industry contracted by 8.4% and 3.5% in real terms in 2017 and 2018 respectively, following an average annual growth of 5.1% during the preceding three years.
The industry is expected to recover over the forecast period (2019-2023) and register positive growth, driven by a recovery in economic conditions and a revival in the manufacturing and service industry. The government's focus to develop the energy and transport infrastructure in the country is expected to drive the growth of the industry over the forecast period. The construction industry will also be supported by the government’s focus on increasing the number of pre-schools across the country. Moreover, an increase in the number of building construction permits issued is expected to support new construction activity over the forecast period.
The industry’s output value in real terms is expected to post a compound annual growth rate (CAGR) of 2.89% over the forecast period, compared to -1.17% during the review period (2014-2018).
GlobalData’s "Construction in Singapore - Key Trends and Opportunities to 2023", 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.
Get Sample Copy of this Report@ https://www.orbisresearch.com/contacts/request-sample/2663617
Key Highlights:
- GlobalData expects the residential construction market to retain its leading position over the forecast period and account for 24.4% of the industry’s total value in 2023. The market output over the forecast period will be supported by investment under the Home Improvement Program (HIP) for the refurbishment, repair and maintenance of the existing housing stock of the country. The government plans to upgrade 242,000 apartments which were built before 1986, of which construction works are underway in 120,000 apartments. The government plans to invest a sum of SGD4.0 billion (US$3.0 billion) on upgrading the apartments by 2019.
- Forecast-period growth in the energy and utilities construction market will be driven by the government’s effort to meet the growing energy demand in the country. It plans to increase the solar power capacity from 140MWp in 2017 to 350Mwp by 2020 and 2GWp by 2025. Moreover, in October 2017, the government announced plans to invest SGD500.0 million (US$362.1 million) in six renewable energy projects by 2021-2022.
- GlobalData expects the infrastructure construction market to record a forecast-period CAGR of 5.09% in nominal terms, driven by the government’s effort to upgrade the country’s rail infrastructure in order to enhance regional connectivity. The government increased its investment on transport infrastructure by 52.6% in the 2018 budget, rising from SGD9.0 billion (US$6.5 billion) in 2017 to SGD13.7 billion (US$10.3 billion) in 2018.
- Institutional market’s growth in the forecast-period will be driven by the government’s plan to increase the number of pre-schools in the country in order to develop the education sector and provide quality education. Accordingly, in August 2017, the government announced plans to add 40,000 new pre-schools in the country over the next five years, increasing the number from 160,000 in 2017 to 200,000 by 2022. In order to finance this, the government will increase the annual spending on pre-schools from SGD850.0 million (US$615.5 million) in 2017 to SGD1.7 billion (US$1.2 billion) by 2022.
- The total construction project pipeline in Singapore - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at SGD230.1 billion (US$172.1 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 70.4% of the pipeline value being in projects in the pre-execution and execution stages as of January 2019.
Scope:
This report provides a comprehensive analysis of the construction industry in Singapore. It provides -
- Historical (2014-2018) and forecast (2019-2023) 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.
Make an Inquiry before Buying@ https://www.orbisresearch.com/contacts/enquiry-before-buying/2663617
Reasons to buy:
- Identify and evaluate market opportunities using GlobalData's 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 strategy using GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Points from TOC:
1. EXECUTIVE SUMMARY
2. CONSTRUCTION OUTLOOK: AT-A-GLANCE
3. LATEST NEWS AND INDICATORS
4. KEY DRIVERS AND RISKS
4.1. Economic Performance
4.2. Political Environment
4.3. Demographics
4.4. Risk Profile
5. CONSTRUCTION OUTLOOK
5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics
6. KEY INDUSTRY PARTICIPANTS
6.1. Contractors
6.2. Consultants
7. APPENDIX
7.1. What is this Report About?
7.2. Definitions
8. ABOUT GLOBALDATA
Get More Information about this Report@ https://www.orbisresearch.com/reports/index/construction-in-singapore-key-trends-and-opportunities-to-2023
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Orbis Research
Hector Costello
+1 (214) 884-6817
sales@orbisresearch.com
Source: EmailWire.Com 
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