Singapore’s tire market is on a steady ascent, with a projected CAGR of 2% from 2022 to 2027. With growing automotive sales, rising EV adoption, and ambitious infrastructure projects, the Singapore tire sector is positioned for long‑term success, expected to maintain momentum through underpinned by a stable CAGR.

Singapore Tire Market Analysis Highlights

• Singapore imports nearly all of its tire requirements—from China, Germany, Thailand, and Japan—due to no domestic manufacturing
• Government policies and trade agreements are favorable toward foreign investors. Reduced tariffs and incentives are paving the way for potential tire production investments .
• Growth in light commercial vehicles linked to public infrastructure projects—airports, malls, hotels—is increasing demand for commercial-grade tires
• The aftermarket segment, especially all‑season radial tires, continues to dominate market share, supported by heightened consumer awareness around safety and regular replacements
• In passenger vehicle categories, radial tire adoption is the preferred trend, aligning with global performance and durability standards .
• Launch of high‑performance and EV‑centric tires (e.g. Triangle’s EffeX Sport TH202) reflects innovation and evolving consumer expectations
• Government incentives for EV adoption are fuelling demand for specialized tires suited to electric vehicles—wet-handling, low rolling resistance
• Regional trade pacts (ASEAN, EU‑Singapore FTA) continue to streamline tire imports, reducing cost barriers and enhancing supply chain efficiency.

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Key Takeaways from Market Research Report

• Rise in passenger vehicle registrations driving demand.
• Expansion of light commercial vehicle fleets tied to infrastructure growth.
• Increasing EV uptake, requiring specialized tire solutions.
• Heightened aftermarket tire replacement frequency.
• Progression toward radial and all‑season tire preferences.
• Government trade incentives encouraging inbound tire production investment.

Singapore Tire Market Leading Players

The market is competitive and innovation-driven, with prominent brands steering industry growth:

• Michelin Asia
• Continental AG
• Pirelli Tyre S.p.A
• Hankook
• Bridgestone
• Goodyear
• Giti Tire (Singapore‑based global player)
• Toyo
• Stamford Tyres Corporation

Additionally, Omni United Pte. Ltd, headquartered in Singapore, designs and distributes global tire brands like Radar, Patriot, Timberland, and RoadLux—sourcing from production hubs in Thailand, Indonesia, China, and India

Singapore Tire Market Segmentation Analysis

By Type of Vehicles

o   Passenger Car

o   Light Commercial Vehicle

o   Medium and Heavy Commercial Vehicles

o   Off the Road (OTR)

o   Two Wheelers

o   Three Wheeler

By Demand Category

o   OEM

o   Aftermarket

By Type of Tire

o   Radial

o   Bias

By Sales Channel

o   Dealer/Exclusive Outlets

o   Online

o   Others

By Season

o   All-season

o   Summer

By Price Category

o   Budget

o   Economy

o   Premium

By Rim Diameter

o   Upto 12”

o   12.1” to 15”

o   15.1.” to 18”

o   18.1” to 20”

o   20.1” to 22.5”

o   22.6” to 26”

o   26.1” to 35”

o   35.1” to 47”

o   Above 47”

Spotlight on EV‑Specific Tire Opportunity

The escalating adoption of electric vehicles in Singapore 32% of new car registrations in early 2024 and policy targets for 80% EV sales by 2040 heralds a major opportunity. EVs require tires with low rolling resistance to maximize battery life, enhanced wet grip for regenerative braking, and reduced road noise. Tire manufacturers focusing on these attributes—such as Triangle Tyre’s EffeX Sport series—are uniquely positioned to capture the growing EV segment. As Singapore accelerates its sustainability goals, tire innovation aligning with EV performance standards presents a compelling growth pathway.

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Leading Market Segment: Aftermarket Radial Tires

Aftermarket radial tires lead Singapore’s tire landscape, capturing the lion’s share. Their popularity stems from a combination of factors—enhanced fuel efficiency, improved safety, and versatile all‑season performance. With Singapore’s high vehicle turnover (due to the Certificate of Entitlement system) and regular replacement cycles, motorists demand dependable, long‑lasting tires. This trend boosts imported radial inventory from quality-conscious manufacturers in Germany, Japan, and Korea, reinforcing the aftermarket’s dominance in passenger and commercial vehicle segments.

Conclusion & Future Outlook

With the growing trends the industry is projected to grow and expand during the forecasting years i.e., 2025‑30 as the above‑stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the National level.

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