Automotive Market in Singapore to grow at a CAGR of 6.08% by 2026|Passenger Cars Segment to be Significant for Revenue Generation |17000+ Technavio Reports | State
NEW YORK, Dec. 8, 2021 /PRNewswire/ — The automotive market share growth in Singapore by the passenger cars segment will be significant for revenue generation. 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. The automotive market in Singapore size is expected to increase by 22972.00 units from 2021 to 2026, registering a CAGR of 6.08%, according to the latest research report from Technavio.
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The automotive market in Singapore report offers a comprehensive analysis of the strategies adopted by vendors and the trends, drivers, and challenges affecting the market size. The report identifies growing demand for fuel-efficient and low-emission vehicles as one of the major factors driving the growth of the market. However, the factors such as insufficient charging infrastructure may impede the market growth.
The automotive market in Singapore covers the following areas:
Companies Mentioned
The automotive market in Singapore is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- 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.
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Automotive Market In Singapore Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.08% |
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Market growth 2022-2026 |
22972.00 units |
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Market structure |
Fragmented |
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YoY growth (%) |
5.78 |
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Regional analysis |
Singapore |
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Performing market contribution |
Singapore at 100% |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market |
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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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SOURCE Technavio
