Singapore Construction Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The Singapore construction market is projected to grow at a CAGR of 4.20%between 2025 and 2034.

Singapore Construction Market Growth

The expansion of the Singapore construction market is propelled by increased demand from the commercial sector, particularly in areas such as healthcare, education, and research.

The commercial sector includes office buildings, stores, hotels, and other structures built for business rather than living in them. Being known as a global financial centre; Singapore has always been demanded to provide top-notch standards of such spaces, especially in prime areas like the Central Business District (CBD). As of January 2024, a subsidiary of Soilbuild Construction Group Ltd. secured a major demolition contract in Tuas located in the West region of Singapore.

Growth in theconstruction industryin Singapore is led by constant improvements in infrastructure and innovations in projects to modernisation. In August 2022, Singaporean, United Overseas Bank signed a memorandum of understanding with Kimly Construction to digitalise finance processes, which will help with their green projects.

Housing projects such as condominiums, apartments or HDB flats are all part of residential construction which also covers landed homes among others. Singapore is densely populated so there is still an urgent requirement for more houses that can accommodate its citizens and permanent residents alike, going forward housing redevelopment initiatives will drive demand for construction projects.

Singapore Construction Industry Segmentation

Singapore Construction Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

• General Construction
• Heavy and Civil Engineering
• Others

Market Breakup by End Use:

• Commercial
• Residential
• Industrial
• Medical and Healthcare
• Education and Research
• Others

Singapore Construction Market Share

General construction activities such as residential, commercial, institutional and industrial construction projects lead to growth in the construction market in the country. construction of office buildings, retail spaces, hotels, and other commercial facilities is indicative of a significant status of the country as a business hub.

Leading Companies in the Singapore Construction Market

Major market players are expanding their outreach through a rising emphasis on green building and sustainability, urban redevelopment and infrastructure projects and planning for resilience and adaptation to rapidly changing climates.

• Kimly Construction Pte. Ltd.
• CSC Holdings Limited
• Lum Chang Holdings Limited
• CPC Construction Pte Ltd.
• Soilbuild Construction Group Ltd.
• Woh Hup (Private) Limited
• Santarli Construction Pte Ltd.
• Koh Kock Leong Enterprise Pte Ltd.
• Jurong Engineering Limited
• LS2 Design & Construction Pte Ltd.
• Others