The forecast for the import of lifts and skip hoists to Singapore shows a decreasing trend from 2024, starting at 10.325 million kilograms and declining to 9.7765 million kilograms by 2028. This represents a year-on-year decline of approximately 1.37% from 2024 to 2025, a 1.36% decline from 2025 to 2026, a 1.35% decline from 2026 to 2027, and a continued 1.34% decline from 2027 to 2028. In 2023, the value stood at 10.47 million kilograms. The compound annual growth rate (CAGR) over the last five years forecasts an average decline of approximately 1.40% per year.
Future trends to watch for:
- Developments in eco-friendly and energy-efficient lift technologies. - Potential impacts of urbanization and infrastructure investments in the region. - Shifts in trade policies and economic conditions influencing import activities. - Innovations in construction and building designs potentially affecting demand for different types of lifts and skip hoists.
