Market Overview

Singapore Tire Market to Cross US$200 Million by 2021 - Growth in Gross National Income is Boosting Sales of Automobiles - Research and Markets

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DUBLIN--(BUSINESS WIRE)--

Research and Markets has announced the addition of the "Singapore Tire Market Forecast and Opportunities, 2011-2021" report to their offering.

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.

The 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.

Companies Mentioned:

  • Bridgestone Tyre Sales Singapore Pte. Ltd.
  • Continental Automotive Singapore Pte Ltd
  • Dunlop Tyre
  • Giti Tire Pte. Ltd.
  • Goodyear Orient Company (Private) Limited
  • Hankook Tire Singapore PTE., Ltd.
  • Michelin Asia (Singapore) Co Pte Ltd
  • Pirelli Asia Pte Ltd
  • Stamford Tyres Corporation Limited
  • TOYO Tire & Rubber Company

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Analyst View

4. Singapore Tire Market Outlook

5. Singapore Passenger Car (PC) Tire Market Outlook

6. Singapore Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook

7. Singapore Light Commercial Vehicle (LCV) Tire Market Outlook

8. Singapore Two-Wheeler Tire Market Outlook

9. Market Size & Forecast

10. Singapore Retreading Tire Market Outlook

11. Import-Export Analysis

12. Market Dynamics

13. Market Trends & Developments

14. Policy & Regulatory Landscape

15. Singapore Economic Profile

16. Competitive Landscape

17. Strategic Recommendations

For more information about this report visit http://www.researchandmarkets.com/research/xwjgt6/singapore_tire

Research and Markets
Laura Wood, Senior Manager
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Related Topics: Automotive Tires

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