2013-10-02 14:48:48 - Key Trends and Opportunities to 2017: Singapore's construction industry is dominated by infrastructure and residential construction activities
Singapore's construction industry recorded a CAGR of 4.14% during the review period (2008-2012). This was supported by public and private investments in Singapore's infrastructure, commercial and institutional construction markets. Singapore's construction industry is dominated by infrastructure and residential construction activities, as collectively the infrastructure and residential markets generated 59.6% of the industry's total value in 2012. The outlook for construction is favorable, due to the government's focus on country's infrastructure and residential construction. The construction industry's output is expected to record a CAGR of 5.04% over the forecast period (2013-2017).
Full Report Details at
- www.fastmr.com/prod/689978_construction_in_singapore_key_trends_ ..
* Singapore's economy grew at an annual rate of 1.2% in 2012, moderating from 4.9% in 2011, as weaker external demand adversely affected
the export oriented manufacturing and services sector.
* Based on Timetric's current forecast of improving global economic activity along with sustained growth in domestic demand, Singapore's economy is expected to grow in the range of 2.3%-3.9% during 2013 and 2014.
* Singapore is one of the most popular tourism destinations in the world. With an aim to increase tourism's contribution to the economy and raise tourism receipts to US$30 billion by 2015, the Singapore Tourism Board (STB) is to place a greater focus on the construction of new tourist destinations over the forecast period.
* Although the country does not have its own oil reserves, its refinery industry is one of the largest in the world. The petroleum and petrochemicals industry is a key contributor to Singapore's economic growth. The refinery buildings category will be supported by projects such as the expansion and upgrade of Singapore Refining Company in 2013 and the construction of a gasoline production project.
* Singapore's government invested heavily in rail and road infrastructure, and has a strong pipeline of various rail transit projects nationwide. Owing to a sharp increase in traffic, Singapore's road infrastructure needs to be enhanced. The government aims to develop a high-performance rail network and plans to increase the country's Mass Rapid Transit (MRT) network to 360 km by 2030.
* The private sector is the main source of healthcare funding and accounted for 63.9% of the healthcare expenditure in 2009. Singapore's government plans to double its healthcare budget over the next five years. A number of healthcare facilities are planned to be constructed under the Healthcare 2020 plan.
* Low interest and unemployment rates coupled with interest from foreign property buyers stimulated Singapore's residential construction market during the review period. The market is expected to continue to expand over the forecast period and be driven by a population and economic growth, low unemployment rates and increasing levels of disposable income.
* The government has taken measures to curb speculative demand for the housing and real estate markets. Most notably, it announced an additional stamp duty on foreign buyers and corporate entities, established a lower loan-to-value (LTV) ratio and placed a maximum cap on loan tenure. In January 2013, the government increased Additional Buyer's Stamp Duty (ABSD) from 5% to 7% across the board and the minimum cash down payment from 10% to 15%.
This report provides a comprehensive analysis of the construction industry in Singapore:
* Historical (2008-2012) and forecast (2013-2017) 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
Reasons to Get this Report
* 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
Companies Mentioned in this Report: Cape Intermediate Holdings Plc, United Engineers Ltd, Sim Lian Group Ltd, Lian Beng Group Ltd, Chip Eng Seng Corporation Ltd
Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. They provide detailed economic and sector intelligence, business insights and authoritative, independent commentary. View more research from Timetric at www.fastmr.com/catalog/publishers.aspx?pubid=1037
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at www.fastmr.com
or call us at 1.800.844.8156.