Singapore
is a major hub for global financial and commercial activities. Vehicle
motorization rate (for passenger cars and commercial vehicles) in the country
stood at around 150 vehicles per 1,000 people, as of 2014. Further, tire market
in the country is completely replacement driven, owing to absence of automobile
production plants in the country. Singapore’s Gross National Income grew from
USD48,530 in 2011 to USD52,090 in 2015, and this boosted sales of automobiles
in the country. Growing infrastructure developments, increasing vehicle sales
and expanding automobile fleet in the country are forecast to drive Singapore tire
market over the next five years.
According to “Singapore Tire
Market Forecast and Opportunities, 2011 - 2021’’, tire market in the country is
projected to cross US$ 200 million by 2021. Passenger cars dominated Singapore
tire market in 2015, and the segment is anticipated to continue dominating the
market in the coming years as well, due to expanding passenger car fleet size
and rising passenger car sales. Moreover, growing demand for commercial vehicle
and OTR tires in Singapore can be attributed to rising demand for these
vehicles in transportation, infrastructure developments and construction
sectors. Few of the leading companies operating in Singapore tire market
include Michelin,
Continental, Pirelli and Bridgestone. “Singapore Tire Market Forecast and Opportunities, 2011 - 2021”
report elaborates following aspects of tire market in Singapore:
- Singapore Tire Market Size, Share & Forecast
- Segmental Analysis – By Vehicle Type (Passenger
Car, Medium & Heavy Commercial Vehicle, Light Commercial Vehicle, Two-Wheeler,
and Off-The-Road), By Radial Vs Bias
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging
Opportunities
- Competitive Landscape and Strategic
Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of
tire market in Singapore
- To identify the on-going trends and
segment wise anticipated growth in the coming years
- To help industry consultants, tire
companies and other stakeholders to align their market-centric strategies
- To obtain research based business
decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading
players
- To avail 10% customization in the report
without any extra charges and get the research data or trends added in the
report as per the buyer’s specific needs
Report Methodology
The information
contained in this report is based on both primary and secondary sources.
Primary research included interviews with vehicle manufactures, tire companies,
distributors, retailers and industry experts. Secondary research included an
exhaustive search of relevant publications like company annual reports,
financial reports and proprietary databases.