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Temporary Housing Structures in Singapore
Frost & Sullivan, April 2011, Pages: 93
This research service highlights the Singapore temporary housing structures (THS) market. It includes an executive summary, which includes key research findings of the research service. It also includes a country profile, where PEST analysis, key economic indicators and construction trends analysis are given. A segment on total market size for THS is included, together with market dynamics and competitive landscape. Another segment on market dynamics and market size and revenue forecasts is dedicated for construction sector and other sectors. Lastly, market trends, market opportunities and strategic conclusions of the research service are included as well
Research Overview
This Frost & Sullivan research service titled Temporary Housing Structures in Singapore provides an in-depth analysis of the market drivers and restraints, industry trends, and competitive environment in addition to the challenges and issues faced by market participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the demand from the construction sector and the others segment, which comprises commercial, industrial, educational, and healthcare institutions.
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Market Overview
Participants in the Temporary Housing Structures Space in Singapore Look Overseas to Stoke Business Traction
The temporary housing structures (THS) market in Singapore has been growing steadily with the rapid development of the construction sector. As the mining, and oil and gas sectors are practically non-existent in the country, market participants are focused on the construction sector as well as the commercial and industrial sectors. However, there is a shift of focus toward potential overseas markets in Indonesia, Malaysia and Thailand. Singapore has a relatively mature THS market compared to countries in the region owing to both its mature economy and construction sector. This has encouraged major market participants in Singapore to increase their foothold by extending businesses to outside of the country. The growing construction sector in countries, such as Indonesia, Malaysia, and Thailand, has become a huge opportunity for THS market participants. The market growth rate is expected to increase stably until 2017 due to rapid national development. “Singapore has highly conducive investment market with its business-friendly trading center,” notes the analyst of this research service. “It has also been one of the more favorable countries to invest in Asia, and the increased participation of foreign investors has contributed to Singapore’s current rapid development.”
Increased consideration of THS as an alternative option for conventional building structures by end users is likely to drive the market. THS is preferred mainly by end users requiring solutions for temporary accommodation, such as those dealing with construction activities, events, and others.
Fluctuating Raw Material Prices Negatively Impact Market Progression
Due to the country’s lack of natural resources, the local market depends largely on raw material imports for THS production. “As competition is stiff in the THS market in Singapore, the source of raw materials for THS production is crucial,” explains the analyst. “Hence, the reliance on import results in possible fluctuations in production cost, which in return results in wavering THS product price.” End users are moving toward the trend of renting THS, with most key THS companies offering rental service, rather than purchase. Renting THS would not only confer the cost benefit, but also eliminate the hassle of disposal after use.
Going forward, the market is poised to witness an uptrend and participants must be aware of the current trends sweeping the landscape. THS suppliers or manufacturers that are able to provide all-in-one solutions to end users will have the cutting edge over competition. As end users have different requirements, the capability of THS suppliers or manufacturers to provide customized solutions becomes a major determinant of sales success.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Construction
- Others (commercial, industrial, educational, and healthcare institutions)
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