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According to the latest report by IMARC Group, titled “Tire Pressure Monitoring System (TPMS) Market Size : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″ the global tire pressure monitoring system (TPMS) market exhibited strong growth during 2015-2020 and expects the market to grow at a CAGR of around 9% during 2021-2026.
Tire Pressure Monitoring System (TPMS) Industry Definition and Application:
A tire pressure monitoring system (TPMS) represents an electronic system that is used to maintain adequate air pressure in the tires of vehicles. The commonly used monitoring systems include direct and indirect TPMS. The former uses a sensor mounted on the wheels to measure the pressure in each tire, while the latter works with the antilock braking system (ABS) speed sensors to monitor the air pressure. A tire pressure monitoring system provides real-time information about the tire pressure to the driver via a pictogram display or a simple low-pressure warning light. It is extensively utilized across the globe to analyze potential risks associated with the changes in the pressure and temperature of the tires while improving overall vehicle safety.
Report Metric
Historical: 2016-2021
Base Year: 2020
Forecast Year: 2022-2027
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Tire Pressure Monitoring System (TPMS) Market Trends:
The expanding automotive sector is one of the key factors driving the tire pressure monitoring system market. Additionally, the shifting preferences among consumers towards advanced driver-assistance systems (ADASs) for ensuring optimum safety on the road are further catalyzing the market growth. In line with this, several technological advancements, such as the integration of energy harvesting and display systems to offer insights and data regarding the health of the vehicle, are acting as significant growth-inducing factors. Furthermore, the launch of favorable initiatives by government bodies aimed at minimizing the instances of road accidents and casualties is anticipated to fuel the tire pressure monitoring system market over the forecasted period.
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Global Tire Pressure Monitoring System (TPMS) Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ATEQ, Bartec USA LLC, Bendix Commercial Vehicle Systems LLC (Knorr Brake Holding Corporation), Continental Aktiengesellschaft, Denso Corporation, Hamaton Automotive Technology Co. Ltd. (Hangzhou Hamaton Intelligent Control Holdings Co. Ltd.), Huf Hulsbeck & Furst GmbH & Co. KG, Nira Dynamics AB, NXP Semiconductors N.V., Pacific Industrial Co. Ltd., Sensata Technologies Inc. and WABCO Holdings Inc. (ZF Friedrichshafen AG).
The report has segmented the market on the basis on region, type, technology, vehicle type and distribution channel.
Breakup by Type:
Direct TPMS
Indirect TPMS
Breakup by Technology:
Intelligent TPMS
Conventional TPMS
Breakup by Vehicle Type:
Passenger Vehicles
Commercial Vehicles
Breakup by Distribution Channel:
OEMs
Aftermarket
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization
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