Key Market Indicators
Singapore's vehicle registration is projected to hit approximately 100,500 units by 2028, marking a modest growth from around 97,200 units in 2023. This represents an annual compound growth rate of 0.6%. Since 2010, the Singaporean market has seen an average annual increase of 0.4%. In the global rankings for 2023, Singapore was positioned at number 58, with Algeria surpassing it by registering around 97,200 units. Leading the rankings were Canada, China, and Austria, taking the second, third, and fourth spots, respectively.
