New Report Available: Car Rental in Singapore

From: Fast Market Research, Inc.
Published: Mon Oct 12 2015

Throughout 2014, the price for the Certificate of Entitlement (COE) required for every new registered vehicle declined progressively. In January 2014, the COE price was listed at an average of almost S$80,000 per car for categories A and B, which most consumer cars belong to. However, the price continued to drop over the following six months, fluctuating between S$60,000 and S$65,000 for the remaining months of 2014. This price slash of more than S$10,000 in a year resulted in an influx of car purchases in Singapore. As such, the Land Transport Authority (LTA) reported almost 29,000 new cars registered in 2014, compared to the 22,000 new cars registered in 2013, which represents an increase in the region of 30%. Consequently, the traffic on Singapore roads is expected to increase in upcoming years.

Industry Prospects

Full Report Details at

Car rental sales are poised to grow at a CAGR of 2% at constant 2014 prices over the forecast period, a flat positive growth, due to the maturity of the industry in Singapore. With stable MICE, business travel and ongoing leisure travel, car rentals will continue to be in demand in the future, although consumers are better able to afford air travel. Due to Singapore’s small size, consumers’ holiday options via car are limited to overseas trips to neighbouring Malaysia, and they hardly rent cars for domestic use.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Car Rental industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Car Rental in Singapore market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth  
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Car Rental in Singapore?
* What are the major brands in Singapore?
* Is there a shift from airport car rental to non-airport?
* Is leisure car rental outpacing business car rental?
* Is insurance replacement recession-resistant?

Reasons to Get this Report

* Gain competitive intelligence about market leaders
* Track key industry trends, opportunities and threats

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