MarkNtel Advisors recently published a detailed industry analysis of the Singapore Two-Wheeler Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Singapore Two-Wheeler Tire Market (2024-2030)
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.
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What is driving the Singapore Two-Wheeler Tire Market?
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:
- 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.
What segments define the Singapore Two-Wheeler Tire Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Vehicle Type
(Scooter & Moped, Motorcycle),
By Demand Type
(OEMs, Replacement),
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.))
By Regions
North, Central, South,
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Who are the leading key players shaping the Singapore Two-Wheeler Tire Market landscape?
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
Questions Addressed in this Study
1.What factors are driving the Singapore Two-Wheeler Tire Market growth?
2.How is the Singapore Two-Wheeler Tire Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Singapore Two-Wheeler Tire Market?
4.What is the current size of the Singapore Two-Wheeler Tire Market, and how is it projected to change in the future?
6.What is the future outlook for the Singapore Two-Wheeler Tire Market in terms of technological advancements and market expansion?
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