Singapore Tire Market Size, Share, Trends, Growth Insights 2032

Singapore Tire market size was USD 1.18 billion in 2023 and the market is projected to reach roughly USD 1.7 billion by 2032, at a CAGR of 4.2% during the forecast period.
An automotive tire refers to a compact circular component which is encircled by rubber material and fittingly placed over the rim of a wheel with the main focus being on protecting the rim and ensuring there are forces acting on the wheel and underlying surface. Besides that, the tire acts as a resilient member which minimizes stresses and resistance on the road surface. using materials such as synthetic rubber, carbon black and fabric along with tread, jointless cap heaps, and beads, the tire provides stability and lessens strains when in use thus contributing to improving the performance of the automobile and also the comfort of the passenger.