DUBLIN, December 16, 2021--(BUSINESS WIRE)--The "Singapore Construction Equipment Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Singapore construction equipment market size will be valued at USD 444.2 million by 2027, growing at a compound annual growth rate (CAGR) of 4.36% by volume during 2021-2027
Tiong Lee Haut Machinery & Construction Pte Ltd.
SIA & YEO Heavy Equipment
In Singapore, the rental business is gaining high traction. With the rise in construction activities, most end users prefer rental equipment due to its cost-efficient option.
The demand for large excavators is expected to rise across Singapore. Vendors such as Hitachi, Komatsu, and Kobelco are expected to go with the trend and launch a large excavator segment in the country.
The government of Singapore is planning for various infrastructure projects in healthcare redevelopment and transport infrastructure. This initiative will raise the demand for the construction equipment market in Singapore.
The shift towards intelligent systems driven by IoT and data analysis for service, networking, and sustainability to create an innovative construction equipment market in Singapore. The government in the country plans to improve manufacturing productivity by 50% in 2030. The government has set up Global Innovation Alliance that is allowing local technology and manufacturing companies to collaborate with global manufacturers and enhance productivity through technology collaboration in Singapore. Construction machinery is creating huge demand especially in construction activities across the country.
Investments from developed nations, favorable government policies and FDIs, and anticipated industrial advancement will contribute the highest share in the Singapore construction machinery equipment market.
The surge in infrastructural projects and the steep growth in the manufacturing sectors will drive the demand for construction equipment such as excavators, cranes, and Forklifts in the Singapore market.
In Singapore, one of the major players, Caterpillar, launched its new next-generation large excavator to boost its growth in the country.
The road construction project in Singapore is rapidly growing and is expected to reach USD 35 million by 2027.
In the country, several housing and commercial building projects are planned. Thereby, the construction industry is expected to grow heaving in the future.
Aerial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, etc.)
XCMG has integrated technological innovations and development to create a series of products in Singapore construction equipment manufacturing.
Volvo construction equipment market has partnered and collaborated with other leading companies to capitalize on industrial & construction equipment demand.
Kobelco has a significant technological capability backed by access to several manufacturing plants and subsidiaries to boost their Singapore construction equipment industry growth.
This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of-
Gain competitive intelligence about the economic scenario, advantages in Singapore, major projects and investments, market dynamics, and market share
Get presentation-ready format and easy-to-interpret data.
Enable decision-makers to make informed and profitable choices
Gain expert quantitative and qualitative analysis on value/volume growth projections of the Singapore construction equipment market share.
Get COVID-19 impact analysis of the market.
Company Profile of 12 significant vendors
1. How big is the Singapore construction equipment market?
2. What are the latest trends in the Singapore construction equipment manufacturing market?
3. Who are the key players in Singapore's industrial & construction equipment industry?
4. Which market segment holds the highest share of the construction equipment market?
5. What are the applications in the Singapore construction equipment market?
Section 2 - The Market Overview
Economic Scenario, FDI, Advantage of Singapore, Key Economic Regions in Singapore,Supply Chain Insight, COVID-19 Impact
Section 5 - Singapore Construction Equipment (Type & Application)
5.1 Singapore Construction Equipment Market by Type (Volume & Value)
5.2 Singapore Construction Equipment Market by Application (Volume & Value)
2. Company Profile of major Vendors
Section 8 - Report Scope & Definition
For more information about this report visit https://www.researchandmarkets.com/r/grmifa
View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005900/en/
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