The figures, released by the Construction Industry Training Board (CITB) has forecast that 29,8000 new jobs will be created.
Fuelled by demand for 245,000 new homes across the UK each year, the CITB's Construction Skills Network (CSN) forecast found that private housing is expected to be the fastest growing sector in Scotland between now and 2018, with an average annual output of 4.7%.
Initiatives which are expected to contribute to the growth include the Scottish Government's 'Help to Buy' scheme, a £100m Eco Village in Aberdeen and a £1.5bn sustainable housing development in the Douglas Valley.
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However, the report added that average annual growth in output for the construction industry over the next five years was expected to be 2%, which is slightly below the rest of the UK at 2.2%.
Graeme Ogilvy, Scotland Director for CITB, said the figures are both "encouraging and challenging".
He added: "The positive news for industry is that unemployment fell faster in Scotland in 2013 than anywhere else in the UK, however as an industry with the highest level of hard-to-fill vacancies, the onus is on ensuring there is a trained and highly qualified workforce in the pipeline ready to fill almost 30,000 vacancies over the next five years.
"Projected growth across Scotland's private housing sector growth will be pivotal to the industry's growth over the next five years and we note the early success of the Scottish Government's Help to Buy (Scotland) scheme since its introduction in September 2013.
"As the second largest driver of growth, infrastructure will be every bit as significant for Scotland's construction industry, with major projects, such as the Aberdeen Western Peripheral Route and the new Forth Replacement Crossing, to name just two, driving employment and output opportunities."
(JP/MH)
