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Singapore Tire Market Research Report Forecast: (2022-2027)

By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Buses and Trucks, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers, Three Wheeler), By Demand Category (OEM and Repl... ... tegory (OEM and Replacement), By Type of Tires (Radial and Bias), By Sales Channel (Dealer/Exclusive Outlets, Online and Others), By Season (All season, and Summer), By Price Category (Low (Up to USD90), Medium (USD91-USD140, High (Above USD140)), By Rim Diameter (Upto 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”), By Company (Michelin Asia, Continental, Pirelli, Hancook, Bridgestone, Goodyear, Giti, Toyo, Stamford Tyres Corporation, Others) Read more

Tire
Apr 2022
Pages 117
Report Format: PDF, Excel, PPT

Market Definition

The tire industry of Singapore witnessed a growth decline in the previous few years, with a reduced number of new vehicle registrations. However, it is likely to observe a gradual upsurge in the coming years owing to the improved cross-border trade, the emergence of Electric Vehicles (EVs) & setting up of charging stations, infrastructural developments across residential, commercial, & industrial sectors, and the expansion of transportation & logistics across the country.

Market Insights

The Singapore Tire Market is projected to grow at a CAGR of around 2% during the forecast period, i.e., 2022-27. Most of the market expansion would be driven primarily by the improving economic conditions of people & their mounting inclination toward the private ownership of vehicles, i.e., portraying an escalating vehicle fleet & an accelerating demand for tires.

Report Coverage	Details
Study Period	Historical Data: 2017-20
	Base Year: 2021
	Forecast Period: 2022-27
CAGR(2022-27)	2%
Key Companies Profiled	Michelin Asia, Continental, Pirelli, Hancook, Bridgestone, Goodyear, Giti, Toyo, Stamford Tyres Corporation, Others
Unit Denominations	USD Million/Billion

Due to the absence of manufacturing facilities for tires, Singapore imports them from countries like China, Thailand, Germany, Japan, etc. In view of this, the government is laying out favorable policies to attract foreign investments for establishing tire production units across the country while also encouraging the adoption of EVs to curb carbon emissions.

Moreover, the government is actively working on developing the country's infrastructure and enhancing tourism, i.e., displaying a rapid rise in the construction & up-gradation of airports, shopping malls, railway stations, and roads, among others, and propelling the demand for commercial vehicles for various applications. As a result, the need for robust tires is escalating and driving the tire industry across Singapore.

Impact of Covid-19 on the Singapore Tire Market

The emergence of Covid-19 in 2020 introduced numerous unprecedented challenges for the leading companies operating in the Singapore Tire Market. With lockdowns and import/export restrictions in place, they underwent massive revenue losses on account of disruptions in the supply chain, shortage of raw materials, delays in the deliveries & import of tires, & fluctuations in the raw material & tire prices, among others, amidst the crisis.

As a result, they made a strategic transformation to online platforms to sell their products via e-commerce websites & provide door-step delivery & installation to their customers. Later, with the gradual decline in Covid-19 cases & ease of norms, the tire market in Singapore witnessed a notable hike with the resumption of imports & exports across the country.

Introduction
1. Product Definition
2. Research Process
3. Assumptions
4. Market Segmentation
Executive Summary
Experts Verbatim-What our experts say?
Singapore Tire Market Outlook, 2017- 2027
1. Market Size & Analysis
  1. Market Revenue
  2. Units Sold
2. Market Share & Analysis
  1. By Type of Vehicles
    1. Passenger Car
    2. Light Commercial Vehicle
    3. Medium and Heavy Commercial Vehicles
    4. Off the Road (OTR)
    5. Two Wheelers
    6. Three Wheeler
  2. By Demand Category
    1. OEM
    2. Aftermarket
  3. By Type of Tire
    1. Radial
    2. Bias
  4. By Sales Channel
    1. Dealer/Exclusive Outlets
    2. Online
    3. Others
  5. By Season
    1. All-season
    2. Summer
  6. By Price Category
    1. Budget
    2. Economy
    3. Premium
  7. By Rim Diameter
    1. Upto 12”
    2. 12.1” to 15”
    3. 15.1.” to 18”
    4. 18.1” to 20”
    5. 20.1” to 22.5”
    6. 22.6” to 26”
    7. 26.1” to 35”
    8. 35.1” to 47”
    9. Above 47”
  8. By Company
    1. Revenue Shares & Units Sold
    2. Strategic Factorial Indexing
    3. Competitor Placement in MarkNtel Quadrant
Singapore Passenger Car Tire Market Outlook, 2017- 2027
1. Market Size & Analysis
  1. Market Revenue
  2. Units Sold
2. Market Share & Analysis
  1. By Type of Vehicle
    1. Sedan
    2. SUV
    3. Hatchbacks
    4. Others
  2. By Demand Category
  3. By Type of Tire
  4. By Sales Channel
  5. By Season
  6. By Price Category
  7. By Rim Diameter
  8. By Company
Singapore Light Commercial Vehicle Tire Market Outlook, 2017- 2027
1. Market Size & Analysis
  1. Market Revenue
  2. Units Sold
2. Market Share & Analysis
  1. By Type of Vehicle
    1. Light Trucks
    2. Light Buses
    3. Pick-up Trucks and Vans
  2. By Demand Category
  3. By Type of Tire
  4. By Sales Channel
  5. By Season
  6. By Price Category
  7. By Rim Diameter
  8. By Company
Singapore Medium Heavy Commercial Vehicle Tire Market Outlook, 2017- 2027
1. Market Size & Analysis
  1. Market Revenue
  2. Units Sold
2. Market Share & Analysis
  1. By Type of Vehicle
    1. Trucks
    2. Buses
  2. By Demand Category
  3. By Type of Tire
  4. By Sales Channel
  5. By Season
  6. By Price Category
  7. By Rim Diameter
  8. By Company
Singapore Two-Wheeler Tire Market Outlook, 2017- 2027
1. Market Size & Analysis
  1. Market Revenue
  2. Units Sold
2. Market Share & Analysis
  1. By Type of Vehicle
    1. Scooters
    2. Mopeds
    3. Motorcycles
  2. By Demand Category
  3. By Type of Tire
  4. By Sales Channel
  5. By Season
  6. By Price Category
  7. By Rim Diameter
  8. By Company
Singapore OTR Vehicle Tire Market Outlook, 2017- 2027
1. Market Size & Analysis
  1. Market Revenue
  2. Units Sold
2. Market Share & Analysis
  1. By Type of Vehicle
    1. Earthmoving Equipment
    2. Construction and Agricultural Vehicles
    3. Material Handling Vehicles
  2. By Demand Category
  3. By Type of Tire
  4. By Sales Channel
  5. By Season
  6. By Price Category
  7. By Rim Diameter
  8. By Company
Singapore Three-Wheeler Vehicle Tire Market Outlook, 2017- 2027
1. Market Size & Analysis
2. Market Revenue
3. Units Sold
4. Market Share & Analysis
  1. By Type of Vehicle
    1. Passenger Carrier
    2. Load Carrier
  2. By Demand Category
  3. By Type of Tire
  4. By Sales Channel
  5. By Price Category
Singapore Tire Market Policies, Regulations, Product and Services Standards
Singapore Tire Market Trends & Insights
Singapore Tire Market Dynamics
1. Growth Drivers
2. Challenges
3. Impact Analysis
Singapore Tire Market Hotspot & Opportunities
Singapore Tire Market Key Strategic Imperatives for Success & Growth
Singapore Competition Outlook
1. Competition Matrix
  1. Product and Services Portfolio
  2. Brand Specialization
  3. Target Markets
  4. Target End Users
  5. Research & Development
  6. Strategic Alliances
  7. Strategic Initiatives
2. Company Profiles (Business Description, Product and Services Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
  1. Michelin Asia
  2. Continental
  3. Pirelli
  4. Hancook
  5. Bridgestone
  6. Goodyear
  7. Giti
  8. Toyo
  9. Stamford Tyres Corporation
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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