Singapore Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2030 (Q3 2026)

Summary

The construction industry in Singapore is estimated to grow by 6.2% in real terms in 2026, supported by an increase in export activities, along with investments in datacenter buildings and the manufacturing sector, in line with rising demand for artificial intelligence (AI). According to the Ministry of Trade and Industry, Singapore's benchmark non-oil domestic exports (NODX) grew by 27.4% year-on-year (YoY) in real terms in Q2 2026, following a 9.6% YoY increase in Q1 2026. The growth in the second quarter was primarily driven by electronics (an 88.1% YoY increase), as well as sectors such as pharmaceuticals and specialized machinery. Reflecting this strong market recovery, the Singapore government sharply upgraded its full-year non-oil domestic export (NODX) growth forecast for 2026 in August 2026 to a range of 14%-16%, a substantial increase from the 3% to 5% expansion projected in May 2026, reflecting the exceptionally strong first-half performance led by electronics. Moreover, investments in the transport and energy sectors, along with an improvement in manufacturing activities, will also provide a boost to the industry’s output this year. Growth will also be supported by an increase in construction contracts awarded and progress payments issued. According to the Department of Statistics (DOS), the total value of progress payments issued rose by 13.8% YoY in H1 2026, whereas the total value of construction contracts awarded grew by 8.8% YoY during the same period.

The construction industry is projected to grow at an average annual rate of 3.6% between 2027 and 2030, supported by investments in transport and energy projects, coupled with the government's Long-Term Plan Review (LTPR), led by the Urban Redevelopment Authority, which sets out a 50-year framework for sustainable growth, focusing on land use, transport, and economic priorities. A major part of the plan is rail expansion, with the Mass Rapid Transit (MRT) network set to grow from 250km in 2019 to 360km by 2030. Growth over the forecast period will also be driven by the Land Transport Authority's (LTA) Land Transport Master Plan 2040. Under the plan, the government intends to invest an estimated SGD34.4 billion ($26 billion) to construct railway stations, transit priority corridors (TPCs), and 700km of cycling paths by 2030, with plans to expand this to 1,000km by 2040. Growth will also be supported by the government’s target of achieving net-zero emissions by 2050.

The analyst’s Construction in Singapore - Key Trends and Opportunities to 2030 (Q3 2026) 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 (2021-2025) and forecast (2026-2030) 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 the analyst's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors

1 Executive Summary2 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 the Analyst
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), 2021-30
Table 4: Singapore, Top Commercial Construction Projects by Value
Table 5: Singapore, Industrial Construction Output by Project Type (Real % Change), 2021-30
Table 6: Singapore, Top Industrial Construction Projects by Value
Table 7: Singapore, Infrastructure Construction Output by Project Type (Real % Change), 2021-30
Table 8: Singapore, Top Infrastructure Construction Projects by Value
Table 9: Singapore, Energy and Utilities Construction Output by Project Type (Real % Change), 2021-30
Table 10: Singapore, Top Energy and Utilities Construction Projects by Value
Table 11: Singapore, Institutional Construction Output by Project Type (Real % Change), 2021-30
Table 12: Singapore, Top Institutional Construction Projects by Value
Table 13: Singapore, Residential Construction Output by Project Type (Real % Change), 2021-30
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: GlobalData Construction Market Definitions
Table 21: Ratings, Scores and Definitions

List of Figures

Figure 1: South and South-East Asia, Construction Output (Real % Change), 2024-30
Figure 2: Singapore, Construction Output by Sector (Real % Change), 2024-26 and 2027-30
Figure 3: Singapore, Risk Summary
Figure 4: Singapore, Risk Regional Comparison
Figure 5: Singapore, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2021-30
Figure 6: Singapore, Construction Output Value, by Sector (Real, $ Million), 2021-30
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), 2021-30
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, Supply of Hotel Rooms in the Pipeline, GFA, In Thousand m2
Figure 27: Singapore, Industrial Construction Output by Project Type (Real, $ Million), 2021-30
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, 2025=100
Figure 32: Singapore, Industrial Production Index, 2025=100
Figure 33: Singapore, Industrial Production Index, 2025=100
Figure 34: Singapore, Factory Space Supply, % Change YoY
Figure 35: Singapore, Infrastructure Construction Output by Project Type (Real, $ Million), 2021-30
Figure 36: Singapore, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Singapore, Progress Payments Issued for Civil Engineering Works (SGD Million)
Figure 38: Singapore, Contracts Issued for Civil Engineering (SGD Million)
Figure 39: Singapore, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2021-30
Figure 40: Singapore, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 41: Singapore, Electricity Generated, in GWh
Figure 42: Singapore, Institutional Construction Output by Project Type (Real, $ Million), 2021-30
Figure 43: Singapore, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 44: Singapore, Health and Social Services Value-Add (SGD Million, 2015 Chained Prices)
Figure 45: Singapore, Education services Value-Add (SGD Million, 2015 Chained Prices)
Figure 46: Singapore, Progress Payments for Institutional Construction (SGD Million)
Figure 47: Singapore, Contracts Issued for Institutional Construction (SGD Million)
Figure 48: Singapore, Residential Construction Output by Project Type (Real, $ Million), 2021-30
Figure 49: Singapore, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 50: Singapore, Real estate Value-Add (in SGD Million, 2015 Chained Prices)
Figure 51: Singapore, Progress Payments Issued for Residential Construction (SGD Million)
Figure 52: Singapore, Contracts Issued for Residential Construction (SGD Million)
Figure 53: Singapore, Private Residential Property Price Index (2009=100)
Figure 54: Singapore, GFCF in residential buildings (2015 chained prices, SGD Million)
Figure 55: Singapore, Supply of Private Residential Properties in the Pipeline by Development Status (End of Period), Quarterly
Figure 56: Singapore, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 57: Singapore, Headquarters of Key Consultants (% of Total Project Pipeline)

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