Common Forklift Rental Prices in Singapore

Forklift nowadays is indispensable in modern industry in regard to construction, oil & gas, warehouse or retails or maintenance site. They have become so versatile that their applications are varied. They can be large or small, powered or manual, and can lift heavy or light loads. Different types of forklifts are used in many different industries.

Due to the high cost of procuring and maintaining a forklift, many companies opt to rent forklifts nowadays. Typically, forklift rental prices in Singapore can start at around $100 per day & which also it depends on the supply chain negotiation. 

Types of Forklifts

To be exact, the entire family of forklifts can be called material handling equipment as well. There are different types of forklifts that can do specialized jobs and have a higher weight-lifting capacity, such as extendable counterweight forklifts, telehandler forklifts, reach trucks, stackers, and pallet trucks. Because of the differences, the rental price of the forklifts will also tend to differ depending on the types you rent.

Herewith is the breakdown of the rental prices for the different types of forklifts in Singapore for ease of reference:

5 Common Factors Affecting Forklift Rental Cost

As it stands, there is no uniform price to rent a forklift. The different prices reflect the various aspects that go into a forklift’s rental cost. The five factors affecting the rental price of a forklift include:

a) Forklift Type 

Choosing the right forklift for your job site requires considering various factors such as the type of forklift, the job site's ground condition, and whether an electric or diesel type is suitable. The type of forklift affects rental costs, hauling, and environmental fees. The job site's ground condition influences the type of forklift, fuel type, and tire selection. For example, outdoor use on uneven surfaces or rough terrain requires the right tire type, such as pneumatic tires for indoor/outdoor use or cushion tires for indoor concrete areas. 

Choosing between an electric or diesel forklift depends on the job site's capacity, operation hours, and whether the work is indoor or outdoor. Electrical forklifts are recommended for indoor use due to their smaller load capacity, low maintenance, and zero-emission productivity. Diesel forklifts are designed for higher carry capacity and faster movement, making them suitable for outdoor use, but they emit pollution and are noisy.

Also read: Rental Tips to Choose Between Electric vs Diesel Construction Equipment

b) Forklift Brands

Some Forklift brands and models cost more to rent than others. To get the best rate, it can be helpful to compare multiple brands and weigh their pros and cons. Antbuildz.com, an exquisite online equipment rental marketplace is an excellent place to start when comparing features and prices.

There are many forklift brands available on Antbuildz comprehensive platform but not limited to as follow:

• Bobcat
• Case
• Caterpillar
• Doosan
• Hyster-Yale
• Jungheinrich
• Manitou 
• Etc 

c) Lifting Capacity / Load Size

What is the forklift load capacity and What is the maximum load you need to lift? 

The forklift load capacity determined as specific which a forklift to carry safely at a specific load centre. If the load is not centred at the precise position, then the forklift’s capacity will therefore tend to be reduced. Mean that the higher you are lifting a load, the lower the capacity it will become. The load capacity of the forklift always needs to be higher than your load. Therefore, please make sure you have a good enough idea of the weights you intend to lift. If not, forklift can be topple easily.  

d) Market Conditions

The rental price of a forklift can also be affected by market conditions. When demand for forklifts is high and the supply is low, rental prices tend to increase. This can happen during peak seasons or busy periods, such as the holiday season for retail businesses or the construction season for builders. In contrast, when demand is low and there is an oversupply of forklifts in the market, rental prices may decrease to attract more renters.

Therefore, it's essential to consider market conditions when renting a forklift. If you plan to rent a forklift during a busy period, such as peak construction season, you may need to book well in advance and be prepared to pay higher rental prices. Conversely, if you have flexibility in your rental schedule and can wait for a less busy period, you may be able to secure a better rental rate. Keeping an eye on market conditions and adjusting your rental plans accordingly can help you save money and get the best deal on your forklift rental.

e) Equipment Insurance

Do you know that 99% of equipment rentals in Singapore, Malaysia, and even the entire South East Asia are not covered with equipment at all risk during the rental period to protect users from any accident? The reason is simply there is no such insurance product to protect users from any equipment damage loss for short-term rental from one day to less than a year. The underwriting time may even take more than weeks which makes user impossible to purchase. So, it is crucial to rent your equipment with insurance to protect your risk exposure. Otherwise, any accident can cause a major cost impact on your equipment project budget. 

If you manage to rent the forklift with coverage of Equipment All Risk, even with just a slightly higher rate, you should consider going for it as the risk exposure will be much more than you thought!

One of the ways to get Equipment All Risk covered is to rent your equipment through a reliable online rental platform such as Antbuildz.com. Every single piece of equipment that you reserved through the platform will be compulsorily covered with Equipment All Risk which protects your equipment damage risk up to $30,000. What good is it's totally free!

Rent the best quality forklift at a lower cost with Antbuildz.com!

Above are some of the factors that will affect your forklift rental rates. Understanding the factors well can help you to source the best quality forklift with the lowest cost possible to meet your project budget & scheduling. We know this could be a time-consuming job if you do it manually. However, do it smart instead of cold calling /emailing each supplier one by one as it takes longer than expected time.  Search, compare, and rent your forklift in just a few clicks to check daily/ weekly & monthly with the largest online equipment rental platform in South-East Asia now, Antbuildz.com!

Need to rent Equipment? Check the rental rate instantly now! 

Do you wish to rent equipment or an excavator? Get the best rental rates by visiting Antbuildz.com today! Whether for a single day or a few months, every equipment rental made on Antbuildz.com is covered by Antbuildz Protection Plan, which provides up to S$30,000 in first-loss coverage. YES, IT IS ABSOLUTELY FREE!