(2020 - 2023) Global Automotive Tyre Pressure Monitoring System (TPMS) Market is Anticipated to Reach US$ 15.23% Billion by 2023

Automotive Tyre Pressure Monitoring System (TPMS) Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Automotive Tyre Pressure Monitoring System (TPMS) market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Automotive Tyre Pressure Monitoring System (TPMS) Market report is anticipated to register a CAGR of 15.23% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Automotive Tyre Pressure Monitoring System (TPMS) Market are –

  • Dill Air Control Products
  • Freescale Semiconductor
  • Doran Manufacturing Llc
  • Hella
  • Huf Electronics Bretten Gmbh
  • Omron Corporation
  • ZF Trw
  • Valor TPMS
  • Schrader Electronic
  • Continental
  • Pacific Industrial
  • Denso
  • Alligator Ventilfabrik Gmbh
  • Alps Electric
  • Bartec
  • Bendix

The market is expected to grow at a CAGR of 15.23% during the forecast period. North America was the largest market in 2017, accounting for a share of over 39%, followed by the European countries and Asia-Pacific countries. TPMS is an electronic system designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. In addition, TPMS warns the driver about the number of tires that are underinflated. The increasing demand from emerging markets such as India and China as a result of the rising demand for automobiles (especially luxury vehicles) and new TPMS regulations in China and South Korea will also positively affect the growth of the market.

In terms of technology, TPMS is classified into two categories: direct TPMS and indirect TPMS. Direct TPMS provides real-time information on the tire pressure by using pressure monitoring sensors in the tires. As a result, automobile manufacturers are shifting their focus to the use of direct TPMS sensors to improve safety of consumers. The demand for and adoption of direct TPMS is constantly increasing among consumers because of the ease provided by these systems; i.e., automatically resetting as and when tires are inflated or rotated (with the presence of pressure sensors). Indirect TPMS do not use any physical pressure sensors unlike direct TPMS but measure air pressure by monitoring individual wheel rotational speeds and other signals available outside the tire.

Rising safety concerns to promote growth

Tire blowouts because of underinflated and overinflated tires result in accidents and human fatalities. The rising concern for passenger and automobile safety has compelled governments across the world to implement safety regulations such as TPMS (for instance, the TREAD Act by the US Congress). In addition, the high number of accidents occurring worldwide because of tire failures has increased the need for advanced safety systems such as TPMS in automobiles. Appropriately inflated tires also improve the fuel efficiency of the vehicle. Governments across the world are taking initiatives to introduce TPMS in as many applications as possible to increase fuel efficiency (and hence, reduce carbon emissions).

Technical restrictions still holding the market

However, functional errors as a result of the failure of electronic sensors, use of defective sensors and battery failure result in the failure of TPMS, resulting in accidents. For instance, unexpected turning off of the ignition disables the engine and thus the TPMS system. These functionality errors deter consumers from placing faith in such types of new technology. Awareness of TPMS among consumers has been low in the past, and the only installations have been in OEM-fitted vehicles. This is the reason why the TPMS aftermarket has not seen much growth in the past years. However, with the growing safety concerns among consumers in the emerging markets, the demand for entry-level vehicles equipped with safety features is increasing, thereby boosting the demand for electronic TPMS and TPMS sensors.
The market is segmented by type, end-user segment, vehicle type, and geography.

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Scope of the Report:

The report analyses Automotive Tyre Pressure Monitoring System (TPMS) market, which includes –

  • Analysis of the growth of Automotive Tyre Pressure Monitoring System (TPMS) market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Automotive Tyre Pressure Monitoring System (TPMS) market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Automotive Tyre Pressure Monitoring System (TPMS) market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Automotive Tyre Pressure Monitoring System (TPMS) market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Automotive Tyre Pressure Monitoring System (TPMS) Market Report:

  • Varying dynamics of the Automotive Tyre Pressure Monitoring System (TPMS) industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Automotive Tyre Pressure Monitoring System (TPMS) market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Automotive Tyre Pressure Monitoring System (TPMS) market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Automotive Tyre Pressure Monitoring System (TPMS) Market Report:

  • The report analyses how stringent emission control norms will drive the global Automotive Tyre Pressure Monitoring System (TPMS) market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Automotive Tyre Pressure Monitoring System (TPMS) market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Automotive Tyre Pressure Monitoring System (TPMS):

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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