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Automotive Market in Singapore by Propulsion Type and Vehicle Type - Forecast and Analysis 2022-2026

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71518
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The automotive market share in Singapore is expected to increase by 22972.00 units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.08%.

This automotive market in Singapore research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by propulsion type (IC engine-based vehicles and electric vehicles) and vehicle type (passenger cars and commercial vehicles). The automotive market report in Singapore also offers information on several market vendors, including Aston Martin Lagonda Ltd., BMW Group, Daimler AG, Ferrari NV, General Motors Co., Honda Motor Co. Ltd., Scania AB, Tata Motors Ltd., Tesla Inc., and Toyota Motor Corp. among others.

What will the Automotive Market Size in Singapore be During the Forecast Period?

Download the Free Report Sample to Unlock the Automotive Market Size in Singapore for the Forecast Period and Other Important Statistics

 

Automotive Market in Singapore: Key Drivers and Trends

The growing demand for fuel-efficient and low-emission vehicles is notably driving the automotive market growth in Singapore, although factors such as insufficient charging infrastructure may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive industry in Singapore. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Market Driver in Singapore

One of the key factors driving growth in the automotive market in Singapore is the growing demand for fuel-efficient and low-emission vehicles. The harmful effects of emissions caused by fossil fuel-operated vehicles have alarmed people across the world, and, hence, there has been growth in the demand for low-emission vehicles. Furthermore, with the rapid fluctuation in oil and gas prices, consumers are focusing on more fuel-efficient vehicles. The adoption of EVs is on the rise as it increases energy security, improves fuel economy, and reduce fuel emissions.  The increase in fuel prices has resulted in consumers shifting from conventional vehicles to EVs. The growth in demand for EVs has been boosted by dynamic developments in policies, the implementation of guidelines, and advances in technology. The growing consensus among governments and consumers to reduce emissions will boost the growth of the market in the country.

Key Automotive Market Challenge in Singapore

The insufficient charging infrastructure will be a major challenge for the automotive market vendors in Singapore during the forecast period. As the demand for EVs is expected to increase among consumers in the coming years, governments and vendors together need to work toward providing the necessary infrastructure, which is lacking in most countries. The high cost of the establishment of charging stations is the biggest hurdle in increasing the electricity infrastructure.  Without major support through funding and investments from the government and other companies, it is difficult for the EV charger market to grow its network, which, in turn, will restrict the growth of the market in focus.

This automotive market in Singapore analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Automotive Market Vendors in Singapore?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aston Martin Lagonda Ltd.
  • BMW Group
  • Daimler AG
  • Ferrari NV
  • General Motors Co.
  • Honda Motor Co. Ltd.
  • Scania AB
  • Tata Motors Ltd.
  • Tesla Inc.
  • Toyota Motor Corp.

 

This statistical study of the automotive market in Singapore encompasses successful business strategies deployed by the key vendors. The automotive market in Singapore is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive market in Singapore forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Vehicle Type Segments in the Automotive Market in Singapore?

To gain further insights on the market contribution of various segments Request for a FREE sample

The automotive market share growth in Singapore by the passenger cars segment will be significant during the forecast period. The passenger cars segment dominates the automotive market in Singapore. The passenger car segment is expected to grow substantially as compared to the commercial vehicle segment. Such a trend may stem from factors such as the rising awareness of the use of biofuels and the impact of pollution on climate among consumers and government efforts to promote the integration of technology in passenger cars.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive market size in Singapore and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Market Scope in Singapore

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.08%

Market growth 2022-2026

22972.00 units

Market structure

Fragmented

YoY growth (%)

5.78

Regional analysis

Singapore

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aston Martin Lagonda Ltd., BMW Group, Daimler AG, Ferrari NV, General Motors Co., Honda Motor Co. Ltd., Scania AB, Tata Motors Ltd., Tesla Inc., and Toyota Motor Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive Market Report in Singapore?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive automotive market growth in Singapore during the next five years
  • Precise estimation of the automotive market size in Singapore and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive industry in Singapore
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive market vendors in Singapore

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Propulsion type

    • Market segments
    • Comparison by Propulsion type
    • IC engine-based vehicles - Market size and forecast 2021-2026
    • Electric vehicles - Market size and forecast 2021-2026
    • Market opportunity by Propulsion type

    Market Segmentation by Vehicle type

    • Market segments
    • Comparison by Vehicle type
    • Passenger cars - Market size and forecast 2021-2026
    • Commercial vehicles - Market size and forecast 2021-2026
    • Market opportunity by Vehicle type

    Customer landscape

    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Aston Martin Lagonda Ltd.
    • BMW Group
    • Daimler AG
    • Ferrari NV
    • General Motors Co.
    • Honda Motor Co. Ltd.
    • Scania AB
    • Tata Motors Ltd.
    • Tesla Inc.
    • Toyota Motor Corp.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The automotive market growth will increase by $22972.00 units during 2021-2026.
    The automotive market is expected to grow at a CAGR of 6.08% during 2021-2026.
    Technavio has segmented the automotive market by geographic (Singapore).
    Aston Martin Lagonda Ltd., BMW Group, Daimler AG, Ferrari NV, General Motors Co., Honda Motor Co. Ltd., Scania AB, Tata Motors Ltd., Tesla Inc., Toyota Motor Corp. are a few of the key vendors in the automotive market.
    Singapore will register the highest growth rate of 100.00% among the other regions. Therefore, the automotive market in Singapore is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the automotive market growth are:
    • Growing demand for fuel-efficient and low-emission vehicles
    The automotive market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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