Singapore: Tyre Market 2025

Tyre Market Size in Singapore

In 2022, the Singaporean tyre market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption continues to indicate a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tyre Exports

Exports from Singapore

For the third year in a row, Singapore recorded decline in shipments abroad of tyres, which decreased by X% to X units in 2022. In general, exports saw a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tyre exports reached $X in 2022. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units), Malaysia (X units) and the United Arab Emirates (X units) were the main destinations of tyre exports from Singapore, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tyre exported from Singapore were Malaysia ($X), Indonesia ($X) and the Netherlands ($X), with a combined X% share of total exports. China, the United Arab Emirates, Taiwan (Chinese), Australia, Hong Kong SAR, Thailand, Japan, Pakistan, Cambodia and Bangladesh lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw 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

In 2022, the average tyre export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2018 an increase of X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Tyre Imports

Imports into Singapore

Tyre imports into Singapore fell to X units in 2022, declining by X% on the year before. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, tyre imports expanded notably to $X in 2022. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Thailand (X units) were the main suppliers of tyre imports to Singapore, with a combined X% share of total imports. Germany, Indonesia, Romania, South Korea, the Netherlands and Malaysia lagged somewhat behind, together comprising a further X%.

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

In value terms, Japan ($X), China ($X) and Thailand ($X) appeared to be the largest tyre suppliers to Singapore, with a combined X% share of total imports. Germany, Romania, the Netherlands, South Korea, Indonesia and Malaysia lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average tyre import price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt downturn. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the Netherlands ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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