Singapore tire market stood at $ 0.16 billion in 2016, and is projected to exhibit a CAGR of over 6%, in value terms, during 2017 – 2022, to reach $ 0.23 billion by 2022. Growing automobile sales and increasing per capita income are the major factors boosting demand for tires across the country. Passenger car segment accounted for the largest share in Singapore tire market in 2016, and the segment is expected to maintain its leading position during the forecast period as well, owing to recovering sales of passenger cars in the country.
Years considered for this report:
Historical Years: 2012 – 2015
Base Year: 2016
Estimated Year: 2017
Forecast Period: 2017 – 2022
Objective of the Study:
- To assess tire demand, replacement market, and import/export scenario in the country.
- To analyze and forecast Singapore tire market size, in terms of value as well as volume.
- To classify and forecast Singapore tire market on the basis vehicle type, company, company (Tier I, II and III), company (for radial tires), company (for bias tires),
- region, radial vs. bias, online vs. offline sales and demand category (OEM vs. Replacement).
- To identify drivers and challenges for Singapore tire market.
- To identify market trends and development in Singapore tire market.
- To evaluate the average selling price of tires.
- To conduct the pricing analysis for Singapore tire market
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Some of the major players operating in Singapore are Michelin Asia (Singapore) Co Pte Ltd, Continental Automotive Singapore Pte Ltd, Pirelli Asia Pte Ltd, Bridgestone Tyre Sales Singapore Pte. Ltd., Hankook Tire Singapore PTE., Ltd., Goodyear Orient Company (Private) Limited, Dunlop Tyre, TOYO Tire & Rubber Company, Giti Tire Pte. Ltd., Stamford Tyres Corporation Limited, etc.
In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of tire manufacturers and suppliers operating in different regions of Malaysia. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research was able to include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels, and regional presence of all major tire suppliers across the country.
TechSci Research calculated the market size for Malaysia tire market using a bottom-up technique, wherein manufacturers’ volume sales data for different vehicle types (Passenger Car, LCV, M&HCV, OTR, and Two-wheeler) were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such OICA, Land Transport Authority (LTA), World Bank, UN Comtrade, company websites, company annual reports, white papers, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- Singapore Tire Importers
- Singapore Dealer/Distributor
- Associations, organizations, forums and alliances related to tires
- Government bodies such as regulating authorities and policy makers
- Industry associations
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tire manufacturers, distributors and dealers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Singapore tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
o By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler & Off-The-Road)
o By Company
o By Company (Tier I, II and III)
o By Company (For Radial Tires)
o By Company (For Bias Tires)
o By Region
o By Demand Category (OEM Vs. Replacement)
o By Radial Vs Bias
o Online Vs. Offline Sales
Competitive Landscape
Company Profiles: Detailed analysis of major companies present in Singapore tire market.
Available Customizations:
With the given market data, TechSci Research offers customizations according the company’s specific needs. Following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com