Singapore Automotive Tire Market Introduction and Overview
According to SPER Market Research, the Singapore Automotive Tire Market is estimated to reach USD 0.11 billion by 2033 with a CAGR of 4.93%.
An automotive tyre is a rubber-covered circular vehicle component that extends from the outside of the wheel rim. The tyre's primary role is to protect the wheel rim while simultaneously delivering tractive force between the vehicle and the roadway surface. Because it is made of rubber, it also functions as a flexible cushion, minimising vibrations and absorbing stress from the car. A rubber tyre is made up of tread, jointless cap heaps, beads, synthetic rubber, carbon black, and fabric.
- Triangle Tyre introduced two new high-performance tyres to Singapore in March 2023: the EffeX Sport TH202 and the ReliaX Touring TE307. The EffeX Sport TH202 is intended for performance and electric cars (EVs), providing a 13% improvement in wet handling and a 28% improvement in wet braking. The ReliaX Touring TE307, on the other hand, is designed to enhance durability and mileage by 23% in wet braking and 9% in wet handling.
- In August 2021; Michelin introduced the Michelin Pilot Sport 4 SUV, a new tyre line in Singapore. The Michelin Pilot Sport 4 SUV is intended for high-performance SUVs and provides superior handling, braking, and wet weather traction. Michelin introduced this new tyre line to address the growing demand for premium SUVs in Singapore. Michelin Pilot Sport 4 SUVs are available from authorised Michelin dealerships and tyre stores in Singapore.
Market Opportunities and Challenges
Opportunities- Technology developments in tyres: To improve tyre performance, safety, and sustainability, tyre producers are always creating new materials and designs. Due to their convenience and safety features, innovations like self-sealing tyres, which automatically seal small punctures, and run-flat tyres, which permit vehicles to continue driving after a puncture, are becoming more and more popular with consumers. Furthermore, tyre longevity, fuel economy, and traction—all of which are critical for conventional and electric vehicles—are being improved by developments in tread patterns and rubber compositions. The market is expanding as a result of the growing popularity of smart tyres, which feature sensors to measure temperature, wear, and tyre pressure in real-time. Furthermore, the growing emphasis on sustainable and eco-friendly solutions has led to the development of eco-friendly tyres that satisfy Singapore's environmental standards and are composed of recyclable materials, which has aided in market expansion.
Challenges- The Singapore automobile tyres industry has a number of problems, including the demand for new materials and sustainability. Tyres must deliver peak performance, safety, and durability, necessitating ongoing research and improvement. Furthermore, the development of eco-friendly and energy-efficient tyre materials is becoming increasingly important due to environmental legislation and consumer preferences. Ensuring tyre safety and reliability across a wide range of driving circumstances is a considerable problem. The market is also competing with multinational tyre makers, which puts additional pressure on maintaining market share and quality standards.
Market Competitive Landscape
Singapore Automotive Tire Market is highly competitive due to presence of multiple players. Key market players are Bridgestone Asia Pacific Pte Ltd, Continental Automotive Singapore Pte Ltd, Dunlopillo Holdings Pte Ltd, Goodyear Singapore Pte Ltd, Hankook Tire Singapore Pte Ltd, Kumho Tire Singapore Pte Ltd, Michelin Asia-Pacific Pte Ltd, Pirelli Asia Pte Ltd, Toyo Tire Asia Co Ltd, Yokohama Tire.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Sales Channel, By Construction
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| Regions covered | Western, Southern, Eastern, Northern, Central.
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| Companies Covered | Bridgestone Asia Pacific Pte. Ltd., Continental Automotive Singapore Pte. Ltd., Dunlopillo Holdings Pte. Ltd., Goodyear Singapore Pte. Ltd., Hankook Tire Singapore Pte. Ltd., Kumho Tire Singapore Pte. Ltd., Michelin Asia-Pacific Pte. Ltd., Pirelli Asia Pte. Ltd., Toyo Tire Asia Co. Ltd., Yokohama Tire.
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COVID-19 Impact on Singapore Automotive Tire Market
The COVID-19 epidemic had an impact on the expansion of Singapore's tyre market. The government's statewide quarantine, imposed to prevent the virus from spreading, had an impact on tyre production and raw material availability. Furthermore, the pandemic forced many individuals to work and stay at home, reducing the desire for individual activities. The state of the nation's economy also influenced consumer purchasing power. These factors significantly reduce demand for automotive tyres in Singapore, impeding on the industry's overall growth.
Key Target Audience:
- Passenger Vehicle Owners
- Commercial Vehicle Operators
- Fleet Management Companies
- Tire Retailers and Distributors
- Automotive Service Centers
- Government and Public Transport Authorities
- Logistics and Transportation Companies
- Rental Car Agencies
- Automotive Manufacturers and Dealerships
- Construction and Industrial Vehicle Operators
Our in-depth analysis of the Singapore Automotive Tire Market includes the following segments:
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By Type:
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Passenger Car Tires
Light Commercial Vehicle Tires
Heavy Commercial Vehicle Tires
Off-The-Road Vehicle Tires
Two-Wheeler Tires
Others
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By Sales Channel:
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Original Equipment Manufacturers (OEMs)
Replacement
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By Construction:
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Radial
Bias
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Key Topics Covered in the Report:
- Singapore Automotive Tire Market Size (FY’2024-FY’2033)
- Overview of Singapore Automotive Tire Market
- Segmentation of Singapore Automotive Tire Market By Type (Passenger Car Tires, Light Commercial Vehicle Tires, Heavy Commercial Vehicle Tires, Off-The-Road Vehicle Tires, Two-Wheeler Tires, Others)
- Segmentation of Singapore Automotive Tire Market By Sales Channel (Original Equipment Manufacturers, Replacement)
- Segmentation of Singapore Automotive Tire Market By Construction (Radial, Bias)
- Statistical Snap of Singapore Automotive Tire Market
- Expansion Analysis of Singapore Automotive Tire Market
- Problems and Obstacles in Singapore Automotive Tire Market
- Competitive Landscape in the Singapore Automotive Tire Market
- Impact of COVID-19 and Demonetization on Singapore Automotive Tire Market
- Details on Current Investment in Singapore Automotive Tire Market
- Competitive Analysis of Singapore Automotive Tire Market
- Prominent Players in the Singapore Automotive Tire Market
- SWOT Analysis of Singapore Automotive Tire Market
- Singapore Automotive Tire Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity, and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Singapore Automotive Tire Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Singapore Automotive Tire Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Singapore Automotive Tire Market
7. Singapore Automotive Tire Market, By Type (USD Million) 2020-2033
7.1. Singapore Automotive Tire Market Size, Share and Forecast, By Type, 2020-2026
7.2. Singapore Automotive Tire Market Size, Share and Forecast, By Type, 2027-2033
7.3. Passenger Car Tires
7.4. Light Commercial Vehicle Tires
7.5. Heavy Commercial Vehicle Tires
7.6. Off-The-Road Vehicle Tires
7.7. Two-Wheeler Tires
7.8. Others
8. Singapore Automotive Tire Market, By Sales Channel (USD Million) 2020-2033
8.1. Singapore Automotive Tire Market Size, Share and Forecast, By Sales Channel, 2020-2026
8.2. Singapore Automotive Tire Market Size, Share and Forecast, By Sales Channel, 2027-2033
8.3. Original Equipment Manufacturers (OEMs)
8.4. Replacement
9. Singapore Automotive Tire Market, By Construction (USD Million) 2020-2033
9.1. Singapore Automotive Tire Market Size, Share and Forecast, By Construction, 2020-2026
9.2. Singapore Automotive Tire Market Size, Share and Forecast, By Construction, 2027-2033
9.3. Radial
9.4. Bias
10. Singapore Automotive Tire Market Forecast, 2020-2033 (USD Million)
10.1. Singapore Automotive Tire Market Size and Market Share
11. Singapore Automotive Tire Market, By Region, 2020-2033 (USD Million)
11.1. Singapore Automotive Tire Market Size and Market Share By Region (2020-2026)
11.2. Singapore Automotive Tire Market Size and Market Share By Region (2027-2033)
11.3. Western
11.4. Southern
11.5. Eastern
11.6. Northern
11.7. Central
12. Company Profile
12.1. Bridgestone Asia Pacific Pte Ltd
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Continental Automotive Singapore Pte Ltd
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Dunlopillo Holdings Pte Ltd
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Goodyear Singapore Pte Ltd
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Hankook Tire Singapore Pte Ltd
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Kumho Tire Singapore Pte Ltd
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Michelin Asia-Pacific Pte Ltd
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Pirelli Asia Pte Ltd
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Toyo Tire Asia Co Ltd
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Yokohama Tire
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
