Singapore: Snow Motor Vehicle Market 2024

Snow Motor Vehicle Market Size in Singapore

The Singaporean snow motor vehicle market expanded rapidly to $X in 2022, rising by X% against the previous year. Over the period under review, consumption recorded resilient growth. Snow motor vehicle consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Snow Motor Vehicle Production in Singapore

In value terms, snow motor vehicle production stood at $X in 2022 estimated in export price. In general, production saw a sharp downturn. The growth pace was the most rapid in 2015 when the production volume increased by X,400% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

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Snow Motor Vehicle Exports

Exports from Singapore

In 2022, exports of motor vehicles for travelling on snow or golf cars from Singapore dropped markedly to X units, which is down by X% compared with the previous year. Overall, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, snow motor vehicle exports shrank dramatically to $X in 2022. In general, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X units), Malaysia (X units) and Indonesia (X units) were the main destinations of snow motor vehicle exports from Singapore, together comprising X% of total exports. The Netherlands and New Zealand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X) remains the key foreign market for motor vehicles for travelling on snow or golf cars exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and New Zealand (X% per year).

Export Prices by Country

The average snow motor vehicle export price stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price recorded a perceptible contraction. The pace of growth appeared the most rapid in 2019 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a 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 New Zealand ($X per unit), while the average price for exports to Italy ($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 New Zealand (X%), while the prices for the other major destinations experienced mixed trend patterns.

Snow Motor Vehicle Imports

Imports into Singapore

In 2022, overseas purchases of motor vehicles for travelling on snow or golf cars increased by X% to X units, rising for the second year in a row after three years of decline. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, snow motor vehicle imports dropped rapidly to $X in 2022. Overall, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest snow motor vehicle supplier to Singapore, with a X% share of total imports. Moreover, snow motor vehicle imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Thailand (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

In value terms, China ($X), the United States ($X) and Thailand ($X) constituted the largest snow motor vehicle suppliers to Singapore, with a combined X% share of total imports.

Thailand, with a CAGR of X%, saw 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 snow motor vehicle import price amounted to $X per unit, waning by X% against the previous year. Overall, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Thailand ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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