Construction in Singapore - Key Trends and Opportunities to 2019
NEW YORK, Jan. 5, 2016 /PRNewswire/ -- Synopsis
Singapore's construction industry will continue to expand over the forecast period (2015–2019), supported by government investments in transport infrastructure.
While addressing the housing need for the middle class population and focusing on developing renewable energy sources, the government also aims to improve transport and tourism infrastructure through projects such as the MRT Masterplan–Cross Island Line, the MRT Masterplan–Downtown Line and the Tuas West Extension.
According to the Building and Construction Authority (BCA), the value of construction contracts awarded by the government for infrastructure development increased by 5.3%, going from SGD35.8 billion (US$28.6 billion) in 2013 to SGD37.7 billion (US$29.8 billion) in 2014.
In real terms, the industry's output value rose at a compound annual growth rate (CAGR) of 6.39% during the review period (2010–2014). The pace of growth is anticipated to decelerate to 2.48% over the forecast period, however, due to weakening economic growth.
Summary
Timetric's Construction in Singapore – Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into the Singapore's construction industry including:
- Singapore's construction industry's growth prospects by market, project type and type of construction activity
- Analysis of equipment, material and service costs across each project type in Singapore
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in Singapore's construction industry
- Profiles of the leading operators in Singapore's construction industry.
- Data highlights of the largest construction projects in Singapore
Scope
This report provides a comprehensive analysis of the construction industry in Singapore. It provides:
- Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Singapore using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
- Analysis of key construction industry issues, including regulation, cost management, funding and pricing
- Detailed profiles of the leading construction companies in Singapore
Reasons To Buy
- Identify and evaluate market opportunities using Timetric'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 business strategies using Timetric's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key Highlights
- According to the latest data from the BCA, the total value of construction contracts awarded grew by 8.2%, going from SGD35.8 billion (US$28.6 billion) in 2013 to SGD38.8 billion (US$30.6 billion) in 2014. Of the total value of construction contracts, SGD19.2 billion (US$15.2 billion) were issued to the public sector in 2014, while SGD19.5 billion (US$15.4 billion) were issued to the private sector. The total value of contracts awarded for industrial construction grew by 20.7%, going from SGD5.5 billion (US$4.4 billion) in 2013 to SGD6.6 billion (US$5.2 billion) in 2014.
- To improve transport connectivity and develop the public transport system, in the first half of 2015, the government announced its plans to spend SGD26.0 billion (US$20.5 billion) on transport infrastructure by 2020. Accordingly, Changi Airport's Terminal 5, Jewel Changi Airport and Tuas seaport and other transport infrastructures are expected to be built by 2020.
- Singapore's construction industry will be supported by liquefied natural gas (LNG) terminal expansion projects. In 2014, the Singapore LNG Corporation Pte Ltd (SLNG) awarded an engineering, procurement and construction (EPC) contract to Samsung C&T Corporation (Samsung) for the Phase-3 expansion plan of the Singapore LNG terminal.
- According to the Sustainable Energy Association of Singapore (SEAS), the country's renewable energy share of total installed capacity is less than 1.0%. However, the country has potential to generate 10.0% of total electricity demand through renewable sources by 2020. Therefore, the government aims to increase the share of renewable energy in the total energy mix.
- Singapore's aging population is expected to drive expenditure on healthcare buildings over the forecast period. In order to provide affordable, quality and effective healthcare services to citizens, the Ministry of Health is focusing on developing the healthcare sector. According to UNDESA, the percentage of the population aged 60 or older is set to increase from 14.1% in 2010 to 22.3% in 2020, and to 30.7% by 2030. The median age of the population will increase from 37.3 years in 2010 to 42.5 years by 2020, and 47.0 years by 2030.
Read the full report: http://www.reportlinker.com/p01084350-summary/view-report.html
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
http://www.reportlinker.com
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article