Singapore: Road Wheel Market 2025

Road Wheel Market Size in Singapore

The Singaporean road wheel market dropped to $X in 2022, with a decrease of -3.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Road Wheel Production in Singapore

In value terms, road wheel production reduced slightly to $X in 2022 estimated in export price. In general, production saw a slight downturn. The most prominent rate of growth was recorded in 2018 with an increase of 82%. Road wheel production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Road Wheel Exports

Exports from Singapore

In 2022, shipments abroad of road wheels increased by 2.4% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 50%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, road wheel exports expanded notably to $X in 2022. Over the period under review, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 32% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for road wheel exports from Singapore, with a 32% share of total exports. Moreover, road wheel exports to Indonesia exceeded the volume sent to the second major destination, Australia (X tons), twofold. Malaysia (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia amounted to -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+1.1% per year) and Malaysia (-17.7% per year).

In value terms, Indonesia ($X) remains the key foreign market for road wheels exports from Singapore, comprising 32% of total exports. The second position in the ranking was held by Australia ($X), with a 16% share of total exports. It was followed by Malaysia, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia stood at -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+1.0% per year) and Malaysia (-17.8% per year).

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, surging by 3.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 5.9%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per ton) and India ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+0.0%), while the prices for the other major destinations experienced a decline.

Road Wheel Imports

Imports into Singapore

In 2022, the amount of road wheels imported into Singapore declined to X tons, shrinking by -6.1% on 2021. In general, imports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by 59%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, road wheel imports expanded rapidly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 71% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of road wheel imports to Singapore, together comprising 69% of total imports. Germany, Taiwan (Chinese), India, Thailand and Italy lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +28.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) were the largest road wheel suppliers to Singapore, with a combined 68% share of total imports. Germany, India, Thailand, Taiwan (Chinese) and Italy lagged somewhat behind, together accounting for a further 21%.

India, with a CAGR of +38.0%, saw the highest growth rate of the value of imports, among 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 2022, the average road wheel import price amounted to $X per ton, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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