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Singapore Tire Market Projected to Cross SG$ 280 Million by 2021: TechSci Research Report


News provided by

TechSci Research

14 Dec, 2016, 14:30 GMT

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NEW YORK, December 14, 2016 /PRNewswire/ --

Recovering automobile sales, growing use of public transport, coupled with rising demand for commercial vehicles to drive Singapore tire market through 2021

According to TechSci Research report, "Singapore Tire Market Forecast and Opportunities, 2011 - 2021'’, tire market in Singapore is forecast to cross SG$ 280 million by 2021, on account of recovering automobile sales and expanding automobile fleet size. Moreover, as per the World Bank, Singapore's Consumer Price Index (CPI) decreased from 5.3% in 2011 to -0.5% in 2015, which, in turn, has positively impacted the purchasing power of consumers in the country. Moreover, the country's population increased from 5.18 million in 2011 to 5.53 million in 2015. With increasing purchasing power and growing population, Singapore tire market is expected to grow at a robust pace over the span of next five years.

     (Logo: http://photos.prnewswire.com/prnh/20140117/663730 )

Browse 15 market data Tables and 44 Figures spread through 110 Pages and an in-depth TOC on 

"Singapore Tire Market" 

https://www.techsciresearch.com/report/singapore-tire-market-forecast-and-opportunities/861.html

On the basis of vehicle type, Singapore tire market has been broadly segmented into five categories, namely, passenger car, medium & heavy commercial vehicle, light commercial vehicle, two-wheelers and off-the-road. Among these categories, passenger car segment dominated the country's tire market during 2011 - 2015, and the segment is expected to maintain its dominance during forecast period as well. Central & East region was the largest demand generating region for tires in the country in 2015, followed by west, north-east and north regions.

Download Sample Report  

@ https://www.techsciresearch.com/sample-report.aspx?cid=861

Customers can also request for 10% free customization on this report. 

"Singapore automotive sector witnessed stagnancy during 2011-2015 as automobile sales declined during this period due to government policy directed towards limiting vehicle ownership in the country. The policy involves open bidding for procuring certificate of entitlement (COE), which is mandatory for owning a vehicle in the country. Moreover, with no domestic automobile production facility in the country, the tire market is completely dependent on replacement demand. In addition, replacement demand is addressed through imports, due to absence of tire production units in the country." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"Singapore Tire Market Forecast & Opportunities, 2021" has analyzed the potential of Singapore tire market, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry. 

Browse Related Reports 

Global Two-Wheeler Tire Market- By Vehicle Type, By Region (APAC, North America, South America, Europe & CIS, Middle East and Africa), Competition Forecast & Opportunities, 2021 

https://www.techsciresearch.com/report/global-two-wheeler-tire-market-by-vehicle-type-by-region-apac-north-america-south-america-europe-cis-middle-east-and-africa-competition-forecast-opportunities/846.html

APAC Tire Market Forecast & Opportunities, 2021 

https://www.techsciresearch.com/report/apac-tire-market-forecast-opportunities/855.html

Taiwan Tire Market Forecast & Opportunities, 2011 - 2021 

https://www.techsciresearch.com/report/taiwan-tire-market-forecast-opportunities/843.html

Saudi Arabia Tire Market Forecast & Opportunities, 2021 

https://www.techsciresearch.com/report/saudi-arabia-tire-market-forecast-opportunities-2021/800.html

About TechSci Research 

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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Email: sales@techsciresearch.com

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