ASEAN has a strong demand for heavy machinery, with the largest construction project pipeline globally, with approximately USD 4.9 trillion worth of projects. Exports of heavy machinery from Singapore to the rest of the ASEAN region has grown steadily at a CAGR of 7.0%, which is supported by the key drivers, led by the investment in construction projects in the ASEAN region. Two examples of high growth opportunities in ASEAN are the Philippines and Thailand, among others. Singapore exports of heavy machinery to Thailand has the second fastest growth in the region, with a CAGR of 15.2%. On the other hand, exports of machinery from Singapore to the Philippines is registering a CAGR of 3.9%. 
The market study on ASEAN construction machinery market is segmented into cranes, excavators, loaders, backhoe, motor graders, and others based on machinery type; concrete and road construction, earth moving and material handling based on end-user. This study covers all the major countries of ASEAN which includes Indonesia, Thailand, Vietnam, Singapore, Philippines, and Others (Malaysia, Cambodia, Myanmar)