Automotive Market in Singapore 2023-2027
Technavio has been monitoring the automotive market in Singapore and is forecast to grow by 18191 actual units during 2022-2027, accelerating at a CAGR of 6.03% during the forecast period. Our report on the automotive market in Singapore provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for fuel-efficient and low-emission vehicles, rising penetration of downsized engines in LCVs, and emerging online marketplaces for vehicles.
Technavio's automotive market in Singapore is segmented as below:
- IC engine-based vehicles
- Electric vehicles
By Vehicle Type
- Passenger cars
- Commercial vehicles
This study identifies the technological advances in EVs as one of the prime reasons driving the automotive market growth during the next few years. Also, electric LCVs used for facilitating last-mile connectivity and the increasing popularity of semi-autonomous vehicles will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the automotive market in Singapore covers the following areas:
- Automotive market sizing
- Automotive market forecast
- Automotive market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive market vendors that include Aston Martin Lagonda Ltd., Bayerische Motoren Werke AG, Daimler AG, Ferrari spa, Honda Motor Co. Ltd., Isuzu Motors Ltd., Mazda Motor Corp., Mitsubishi Electric Corp., Porsche Automobil Holding SE, Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Suzuki Motor Corp., Tata Sons Pvt. Ltd., TC Changan Singapore Pte Ltd, Tesla Inc., Toyota Motor Corp., AB Volvo, General Motors Co., and Hyundai Motor Co. Also, the automotive market in Singapore analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.