- This report provides detailed market analysis, information and insights into the Singapore construction market, including:
- The Singapore construction market’s growth prospects by sector, project type and type of construction activity
- Analysis of equipment, material and service costs across each project type within Singapore
- Critical insight into the impact of industry trends, issues and the risks and opportunities they present to participants in the Singapore construction market
- Assessment of the competitive forces facing the construction industry in Singapore and profiles of the leading players
- Profiles of the ten largest construction projects in Singapore
Executive summary
Singapore’s construction industry valued SGD27.7 billion (US$22
billion) in 2011, and recorded a CAGR of 11.57% during the review
period. The industry is expected to grow at a CAGR of 4.88% over the
forecast period. Infrastructure construction was the largest market,
accounting for 32% of total industry value and recording a CAGR of
12.48% during the review period. The infrastructure construction market
valued SGD8.9 billion (US$7.1 billion) in 2011. Singapore’s government
invested heavily in rail and road infrastructure and has a strong
pipeline of rail transit projects nationwide. It allocated SGD464.2
million in 2012 towards various long-term development plans.
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Scope
- This report provides a comprehensive analysis of the construction industry in Singapore:
- Historical (2007-2011) and forecast (2012-2016) valuations of the construction market in Singapore using the construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, 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
- Assessment of the competitive environment using Porter’s Five Forces
- Detailed profiles of the leading construction companies in Singapore
- Profiles of the top ten construction mega-projects in Singapore by value
Reasons to buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level via 600+ time series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies by leveraging our critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key highlights
- Infrastructure construction was the largest market, accounting for 32% of the total industry value and recorded a CAGR of 12.48% during the review period. The infrastructure construction market valued SGD8.9 billion (US$7.1 billion) in 2011. Singapore’s government invested heavily in rail and road infrastructure and has a strong pipeline of rail transit projects nationwide. It allocated SGD464.2 million in 2012 towards various long-term development plans.
- The commercial construction market recorded a CAGR of 13.09% during the review period and valued SGD3.9 billion (US$3.1 billion) in 2011. Owing to the country’s rising demand for retail space, commercial construction activities increased during the review period. The Singapore Tourism Board (STB) opened new tourist destinations to aid tourism inflows.
- Singapore’s GDP registered a growth rate of 5.42% in 2011 and valued SGD326.8 billion. The country recorded a relatively high increase in gross national savings compared with GDP growth. The total gross national savings, as a ratio of GDP, increased considerably during 2001−2010, and reached 46.5% in 2010.
- Singapore’s budget surplus stood at 0.7% of GDP in 2011, and unemployment levels declined to 1.9% in the third-quarter of 2012. In 2012, the benchmark interest rate was at an all-time low.
- Singapore’s government allocated SGD464.2 million towards various long-term development plans and increased its spending on the tourism sector, by announcing plans to allocate an additional SGD905 million for its development. As the proposed proactive measures take effect, increased public spending will boost the growth of all construction markets.
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