(MENAFN- GlobeNewsWire - Nasdaq) The Singapore construction equipment market is forecast to grow at a CAGR of 5.09% from 2024 to 2030, driven by public infrastructure investments and manufacturing sector expansion. Key segments include earthmoving and material handling equipment, with excavators leading in market share. Rising demand for electric and smart equipment is fueled by sustainability goals and labor shortages. The market features prominent vendors like Caterpillar and Komatsu, while local distributors such as Sia & Yeo support the supply chain. Challenges include rising construction costs and global trade volatility affecting growth.

Dublin, Oct. 15, 2025 (GLOBE NEWSWIRE) -- The "Singapore Construction Equipment Market Research Report 2025-2030" report has been added to ResearchAndMarkets's offering.
Singapore's construction equipment market is forecast to grow at a CAGR of 5.09% from 2024 to 2030.

KEY HIGHLIGHTS

• Earthmoving equipment accounted for the largest market share in the construction equipment market in 2024. Excavators in the earthmoving segment accounted for the largest share in 2024. The country's investment in developing its public infrastructure drives the growth of the Singapore earthmoving market.
• On the other hand, demand for material handling equipment is also growing due to the booming manufacturing sector, driving the development of warehouses and logistics parks across the country.
• In 2024, Singapore announced plans to build a second airport logistics park from 2030 to increase the capacity of the existing park and boost Changi Airport's role as a regional air cargo hub.
• In 2024, the earthmoving segment accounted for a significant share of Singapore's construction equipment market; the segment is estimated to reach 2 thousand units by 2030.
• The road construction equipment segment is estimated to surpass USD 14 million by value by 2030.
• Road roller sales are high in Singapore in response to the rising renovation and expansion of transport networks. In 2024, the Land Transport Authority (LTA) awarded a contract to Quek and Quek Civil Engineering Pte Ltd for the construction of a new vehicular flyover at PIE/ Jurong Canal Dr, including an at-grade road connecting Jurong Canal Dr with Tengah Blvd.
• Construction equipment utilization in the construction industry by end-user (volume) has the largest market share in 2024.
• The Building and Construction Authority (BCA) projects the total construction demand, i.e., the value of construction contracts to be awarded, to range between $36.5 billion and $41.2 billion in nominal terms in 2025.
• Amid the ongoing tariff uncertainties and trade tensions in 2025, business sentiments in the manufacturing sector remain largely cautious in Singapore.
• Meanwhile, the electronics segment remains optimistic, with the semiconductor industry anticipating a seasonal pick-up in orders as well as sustained strength in AI-related demand in 2025.
• Growing semiconductor chip demand in Singapore is driving the development of chip manufacturing plants, thereby driving the sales for material handling equipment (forklifts, cranes, telescopic handlers).

SINGAPORE CONSTRUCTION EQUIPMENT MARKET TRENDS & DRIVERS

Rising Demand for Electric Construction Equipment

• Singapore is gradually adopting electric construction equipment, primarily driven by rising concerns about environmental safety to reduce carbon emissions.
• Singapore has set ambitious targets to enable sustainability across the building and construction value chain through its Singapore Green Building Masterplan (SGBMP), launched in February 2025. This includes introducing mandatory sustainable construction practices.
• Construction equipment manufacturers are making continuous investments in launching battery-powered equipment in the Southeast Asian market, including Singapore.

Increasing Demand for Smart and Autonomous Construction Equipment

• Smart construction equipment features technologies like GPS, telematics, and automated controls. These tools improve accuracy and shorten task completion time. This leads to lower operating costs, fewer delays, and better resource management.
• Komatsu Ltd. made a significant technological advancement in 2024 by incorporating artificial intelligence into its Smart Construction Edge platform.
• The latest version of Komatsu Smart Construction Edge leverages advanced AI to automatically remove obstacles - such as equipment and structures - from drone survey data.
• With increasing labor shortage in the country and high labor cost, the demand for smart construction equipment is expected to rise to optimize the construction costs.

Increased Construction Activities

• In 2024, about 80% of the demand was driven by building work, which included key projects such as new Built-To-Order (BTO) units, polyclinics with nursing homes, foundation works for Eastern Integrated Health Campus and Alexandra Hospital redevelopment, and various private residential and mixed/integrated developments.
• Meanwhile, the private sector is forecast to generate between $10.8 billion and $23.3 billion in demand in 2025, with major contributions from the planned expansion of Marina Bay Sands, the recommencement of delayed commercial and hospitality developments, and upcoming data center projects.
• Therefore, Singapore's construction industry is experiencing remarkable growth, fueled by government initiatives and a surge in urban development. This growth is expected to support the demand for the construction equipment industry over the forecast period.

Rising Development of Semiconductor Chip Manufacturing Plants and Data Center Projects

• According to the World Semiconductor Trade Statistics (WSTS), this growth momentum of 2024 is expected to continue into 2025, with market projections reaching approximately $697 billion (a 11% year-over-year increase). This expansion will be attributed to rising demand for high-performance computing, memory, and artificial intelligence (AI)-driven technologies.
• In August 2025, Singapore's semiconductor maker Frencken announced it to invest $63 million to build a new five-storey manufacturing facility in Kaki Bukit. The facility will be built on a land area of 12,318 sq m, and construction began in Q3 2025 and is expected to be completed by Q1 2027.
• Singapore's ongoing expansion of the data center and semiconductor manufacturing facilities is projected to drive demand for construction equipment throughout the forecast period.

INDUSTRY RESTRAINTS

Slowdown in the Economy Due to Global Volatility in Trade and Impact of US Tariffs

• In April 2025, the Monetary Authority of Singapore (MAS) and Singapore's Ministry of Trade and Industry (MTI) significantly lowered the country's 2025 GDP growth projection from a previous 1-3% to 0-2%.
• All of Singapore's export-oriented industries - particularly manufacturing - have been severely affected by this slowdown. For instance, electronics sector activity in Q1 2025 grew much more slowly than in the previous quarter.
• Singapore is also indirectly impacted by the tariffs. China and other countries rely on the intermediate goods and services it exports for their own shipments to the United States. When key trading partners such as the US and China face tariffs or weaker demand, Singapore's tightly integrated economy sees corresponding declines or contractions.
• Therefore, fluctuations in the baseline tariffs for Singapore are expected to slow down the country's industrial and construction growth, which will directly impact the demand in the construction equipment industry over the forecast period.

Increasing Construction Costs in Singapore

• Due to the rising cost of construction, Singapore property developers are not intending to bid aggressively for upcoming land sales in 2025, impacted by elevated construction costs, tighter margins, and a surplus of unsold homes.
• According to data from the Urban Redevelopment Authority (URA), more than 20,400 private residential units, including executive condominiums, remained unsold in the second quarter of 2025, and the Building and Construction Authority expects construction costs to rise by as much as 2% in 2025.
• In Singapore, construction spending weakened by 0.4% in June 2025 and fell 2.9% compared to last year.
• Therefore, rising construction costs in Singapore are likely to have several implications on the construction of residential and public infrastructure, which will further reduce the demand for construction equipment over the forecast period.

SINGAPORE CONSTRUCTION EQUIPMENT MARKET VENDOR LANDSCAPE

• Caterpillar, Komatsu, Volvo CE, Hitachi Construction Machinery, and SANY are the front-runners in the country's construction equipment market. These companies have strong market share and offer a diverse set of equipment in the Singapore market.
• Tadano, Terex, XCMG, Kubota, Zoomlion, HD Hyundai Construction Equipment, Kobelco, BOMAG, Kato Works, and Toyota Material Handling are niche market players in the market. These companies offer low product diversification and have a strong presence in the country's market.
• Yanmar, Manitou, Liebherr, JCB, CNH Industrial N.V., Sumitomo, DEVELON, Bobcat, and LiuGong are emerging in the market. These companies are introducing new technologically advanced products to challenge the market share of market leaders in the country's market.
• Takeuchi, Haulotte, JLG, and Sakai have low product diversification; these companies are lagging in adopting new technologies used in construction equipment.
• In 2023, Volvo CE launched three models: the ECR25 Electric compact excavator, the L25 Electric compact wheel loader, and the EC55 Electric excavator in Singapore.
• Volvo CE, through its BuildTech Asia 2025 event, displayed the ECR25 Electric compact excavator in Singapore and Asia. The display also included other electric models: L25 Electric compact wheel loader, 20-ton EC230 Electric excavator, and L120 Electric wheel loader.

Prominent Vendors

• Caterpillar
• Komatsu
• Volvo CE
• Hitachi Construction Machinery
• Liebherr
• SANY
• XCMG
• JCB
• Kobelco
• Zoomlion

Other Prominent Vendors

• HD Hyundai Construction Equipment
• LiuGong
• Sumitomo Construction Machinery Co., Ltd.
• Yanmar
• Develon
• Tadano
• CNH Industrial N.V.
• Toyota Material Handling
• Terex
• Manito
• BOMAG GmbH
• Kato Works Ltd.
• SAKAI Heavy Industries, Ltd.
• Takeuchi Manufacturing Co., Ltd.
• Haulotte Group
• Bobcat
• Kubota Corporation
• JLG Industries

Distributor Profiles

• Sia & Yeo Heavy Equipment Pte Ltd.
• Tiong Lee Huat Machinery & Construction Pte Ltd.
• Ricon Private Limited
• Land Equipment Pte Ltd.
• Aly Energy
• KML Enterprise Pte Ltd.

Key Attributes:

Report Attribute	Details
No. of Pages	157
Forecast Period	2024 - 2030
Estimated Market Value (Units) in 2024	Units2878 Units
Forecasted Market Value (Units) by 2030	Units3876 Units
Compound Annual Growth Rate	5.0%
Regions Covered	Singapore

Segmentation by Type

Earthmoving Equipment

• Excavator
• Backhoe Loaders
• Wheeled Loaders
• Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers, Motor Graders)

Road Construction Equipment

• Road Rollers
• Asphalt Pavers

Material Handling Equipment

• Crane
• Forklift & Telescopic Handlers
• Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)

Other Construction Equipment

• Dumper
• Tipper
• Concrete Mixer
• Concrete Pump Truck

Segmentation by End Users

• Construction
• Mining
• Manufacturing
• Others (Power Generation, Utilities, Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

For more information about this report visit

About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

• Singaporean Construction Equipment Market Research Report 2025-2030

CONTACT: CONTACT: Laura Wood,Senior Press Manager ... For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

MENAFN15102025004107003653ID1110200583