Market Insights & Analysis: Singapore Two-Wheeler Tire Market (2024-30)
Projected Growth: The Singapore Two-Wheeler Tire Market size is estimated to grow at a CAGR of around 2.1% during the forecast period, i.e., 2024-30.
Comprehensive Overview of the Singapore Two-Wheeler Tire Market
Utilizing both primary and secondary research methodologies, the Singapore Two-Wheeler Tire Market report offers an in-depth analysis valuable for stakeholders and investors seeking market insights. This report delves into market dynamics, providing a detailed examination of regional trends and developments.
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Singapore Two-Wheeler Tire Market Driver: Rising Adoption of Electric Two-Wheelers
Singapore is actively promoting sustainability and reducing carbon emissions. Electric two-wheelers offer a cleaner alternative to traditional petrol-powered vehicles, aligning with the city-state’s efforts to combat air pollution and mitigate climate change. Further, the Singaporean government has introduced various incentives to encourage the adoption of electric vehicles, including electric two-wheelers. These incentives include tax rebates, grants, and subsidies for purchasing electric vehicles, making them more affordable for consumers. For instance:
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- In 2023, the Electric Vehicle (EV) early adoption incentive was extended by two years to 2025 by the Land Transport Authority (LTA) and the National Environment Agency (NEA)
The increased support from the government has fuelled the adoption of electric two-wheelers across the country, contributing to the growth of the Singapore two-wheeler tire market of Singapore in recent years.
Singapore Two-Wheeler Tire Market Segmentation
By Vehicle Type
-Scooter & Moped
-Motorcycle
By Demand Type
-OEMs
-Replacement
- The Replacement segment is expected to capture a significant share of the Singapore Two-Wheeler Tire Market in the coming years.
By Tire Type
-Radial
-Bias
By Price Category
-Budget (Up to USD 11 Per Unit)
-Economy (USD 12 to 30 Per unit)
-Premium (Above USD 30 Per Unit)
By Sales Channel
-Online
-Multi-brand Stores
-Exclusive Stores
By Tire Size
-100/90-14
-180/55-17
-120/70-17
-2.75-18
-Others (80/90-16, 190/55-17, etc.)
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Key Players in the Singapore Two-Wheeler Tire Market
The report features major players including:
Bridgestone Corporation, Goodyear Tire and Rubber Company, Michelin, Continental AG, Yokohama TWS (Mitas), Pirelli Tyre S.p.A, Metzeler, Shinko Tyres, Kenda Tyres, and Others
Regional Analysis
The report covers a comprehensive analysis of the Singapore Two-Wheeler Tire Market across various regions:
- North
- Central
- South
The research highlights development opportunities and challenges in these regions, encompassing sales growth, product pricing and analysis, growth potential, and strategic recommendations for addressing market challenges.
Key Questions Answered in the Singapore Two-Wheeler Tire Market Report
- Who are the major players in the Singapore Two-Wheeler Tire Market?
- Which region presents the most potential for the Singapore Two-Wheeler Tire Market?
- Which application area of the Singapore Two-Wheeler Tire Market is anticipated to grow significantly in the coming years?
- What opportunities exist for new market entrants?
- What is the projected market size for the Singapore Two-Wheeler Tire Market by the end of the forecast period?
- What are the growth prospects for the Singapore Two-Wheeler Tire Market?
- What is the base year considered in this market report?
- Which region holds the largest market share in the Singapore Two-Wheeler Tire Market?
- What factors are expected to drive the growth of the Singapore Two-Wheeler Tire Market?
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