Singapore Modular Construction Market Size & Outlook
Singapore modular construction market, 2018-2030 (US$M)
Related Markets
Singapore modular construction market highlights
- The Singapore modular construction market generated a revenue of USD 2,542.0 million in 2022 and is expected to reach USD 4,792.4 million by 2030.
- The Singapore market is expected to grow at a CAGR of 8.2% from 2023 to 2030.
- In terms of segment, permanent was the largest revenue generating product in 2022.
- Permanent is the most lucrative product segment registering the fastest growth during the forecast period.
Modular construction market data book summary
| Market revenue in 2022 | USD 2,542.0 million |
| Market revenue in 2030 | USD 4,792.4 million |
| Growth rate | 8.2% (CAGR from 2022 to 2030) |
| Largest segment | Permanent |
| Fastest growing segment | Permanent |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Relocatable, Permanent |
| Key market players worldwide | Sekisui House Ltd, Bouygues, Skanska AB ADR, Lendlease Group, Laing O'Rourke, Red Sea International, Premier Modular, KLEUSBERG, Dubox, CIMC Modular Building Systems, Modulaire Group, Guerdon Modular Buildings, Hickory Group International |
Other key industry trends
- In terms of revenue, Singapore accounted for 2.8% of the global modular construction market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China modular construction market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 27,909.0 million by 2030.
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Modular Construction Market Scope
Modular Construction Market Companies
| Name | Profile | # Employees | HQ | Website |
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Singapore modular construction market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to modular construction market will help companies and investors design strategic landscapes.
Permanent was the largest segment with a revenue share of 80.4% in 2022. Horizon Databook has segmented the Singapore modular construction market based on relocatable, permanent covering the revenue growth of each sub-segment from 2018 to 2030.
Modular construction is becoming a common sight in Singapore due to government policies of promoting the construction sector, which is in line with the country’s vision of continuous increase of productivity in the construction industry.
Although this technique has been around for many years in other countries, it is fairly new to Singapore and needs to be adapted to meet the particular local requirements and constraints related to regulatory, economic, market, and high-rise buildings. In Singapore, modular construction is well-suited for implementation in urban and congested areas.
As the construction process is delocalized off-site, it generates almost no nuisance in terms of sound, dust, or traffic. The installation process on-site takes only a few weeks, as compared to a few months for a conventional in-site construction. As a consequence, a modular project generates additional revenue for developers through reduced financial costs and shorter time to market.
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Target buyers of Singapore modular construction market databook
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Our clientele includes a mix of modular construction market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Singapore modular construction market , including forecasts for subscribers. This country databook contains high-level insights into Singapore modular construction market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Singapore modular construction market size, by product, 2018-2030 (US$M)
Singapore Modular Construction Market Outlook Share, 2022 & 2030 (US$M)
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