Singapore: Market for Motorcycles and Cycles With an Auxiliary Motor 2024

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Singapore

In 2021, the Singaporean market for motorcycles and cycles with an auxiliary motor decreased by -63.1% to $X, falling for the fourth consecutive year after three years of growth. Over the period under review, consumption recorded a drastic downturn. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Motorcycles and Cycles With an Auxiliary Motor in Singapore

In value terms, production of motorcycles and cycles with an auxiliary motor shrank sharply to $X in 2021 estimated in export price. Overall, production faced a abrupt descent. The growth pace was the most rapid in 2013 when the production volume decreased by -13.4% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from Singapore

In 2021, overseas shipments of motorcycles and cycles with an auxiliary motor increased by 26% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, faced a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 191% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of motorcycles and cycles with an auxiliary motor dropped rapidly to $X in 2021. In general, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 196%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Indonesia (X units) was the main destination for exports of motorcycles and cycles with an auxiliary motor from Singapore, with a 55% share of total exports. Moreover, exports of motorcycles and cycles with an auxiliary motor to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), twofold. The third position in this ranking was held by Australia (X units), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+37.1% per year) and Australia (+51.6% per year).

In value terms, the largest markets for motorcycles and cycles with an auxiliary motor exported from Singapore were Indonesia ($X), Australia ($X) and Malaysia ($X), together accounting for 95% of total exports. These countries were followed by Thailand, Afghanistan and Pakistan, which together accounted for a further 4.2%.

In terms of the main countries of destination, Afghanistan, with a CAGR of +120.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2021, shrinking by -72.7% against the previous year. Overall, the export price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of 315% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then dropped significantly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+74.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into Singapore

In 2021, overseas purchases of motorcycles and cycles with an auxiliary motor decreased by -77.4% to X units, falling for the fourth year in a row after six years of growth. In general, imports recorded a deep downturn. The pace of growth was the most pronounced in 2017 when imports increased by 146% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of motorcycles and cycles with an auxiliary motor shrank remarkably to $X in 2021. Overall, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 when imports increased by 140%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest motorcycles and cycles with an auxiliary motor supplier to Singapore, with a 83% share of total imports. Moreover, imports of motorcycles and cycles with an auxiliary motor from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was taken by Italy (X units), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.7% per year) and Italy (+37.0% per year).

In value terms, Germany ($X), China ($X) and Italy ($X) constituted the largest motorcycles and cycles with an auxiliary motor suppliers to Singapore, together accounting for 88% of total imports.

Germany, with a CAGR of +58.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for motorcycles and cycles with an auxiliary motor amounted to $X per unit, growing by 45% against the previous year. In general, the import price, however, saw a noticeable curtailment. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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