The electric forklift rental market in Singapore is experiencing a trend of rapid growth and will move toward intelligence, lightweight design, and customization in the future. The details are as follows:
As a major economic hub in Southeast Asia, Singapore boasts a well-developed logistics and supply chain industry, generating strong demand for forklifts. The Singapore government encourages the development of green logistics by introducing tax incentives and subsidy policies, while imposing strict restrictions on the use of traditional forklifts. Additionally, with the growing environmental awareness among enterprises, electric forklifts are gaining greater popularity due to their low carbon emissions and low noise levels. It is estimated that by 2028, the scale of Singapore's forklift market will reach approximately USD 35 million, of which
electric forklifts will account for over 60% of the market share.
With the advancement of the Internet of Things (IoT) and artificial intelligence (AI) technologies,
electric forklifts will become increasingly intelligent. Leveraging sensors and data analysis technologies, functions such as remote monitoring, autonomous operation, and safety early warning can be realized, further improving operational efficiency and safety.
Advancements in materials science and technology will drive the development of more
lightweight electric forklifts. This will help reduce battery weight, extend battery life (range), and simultaneously lower the overall cost of forklifts.
To meet the diverse needs of different customers,
electric forklift manufacturers will offer more personalized products and services. Forklift specifications, functions, and exterior designs can be customized based on users' working environments and operational requirements.
Lithium-ion battery-powered forklifts, which feature long battery life, short charging time, and excellent environmental performance, will become the mainstream in the market. It is expected that the proportion of lithium-ion battery-powered forklifts will exceed 70% of the total market share in the future. In contrast, lead-acid battery-powered forklifts, hampered by shortcomings such as short battery life and long charging time, will see their market share drop to around 20%.
The logistics and distribution sector will remain the primary application scenario for
electric forklifts, accounting for an estimated 40% or more of the market. Meanwhile, the manufacturing industry will account for over 30%, and the retail industry for more than 20%. Furthermore, the
application of electric forklifts in fields such as agriculture and construction will gradually increase.
