Tire Pressure Monitoring System Market : Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Tire Pressure Monitoring System is used to monitor tire pressure accurately and continue to enhance fleet safety and efficiency. Presently, there are two types of tire pressure monitoring systems are existing including direct and indirect system. The market for tire pressure monitoring system is growing constantly over the years and was totaled at a value of USD XXX Million in 2020. The global tire pressure monitoring system market is expected to thrive at a CAGR of 4.1% during the forecast period to reach a valuation of USD XXX Million by 2025. The tire pressure monitoring system (TPMS) consists of sensors, software, control units, and a display unit.
Growth Drivers & Restraints:
The tire pressure monitoring system today is of great use in the automotive industry. The automakers are installing direct and indirect tire pressure monitoring systems into the vehicles in order to reduce the risk of blowouts & unplanned downtime. The tire pressure monitoring system offers other benefits to the vehicle owners including improved tire life, a lower total cost of ownership, improved fuel economy & safety and reduces CO2 emissions. Such advanced benefits of tire pressure monitoring system are poised to bolster the growth of the overall tire pressure monitoring system market in the coming years.
Over the years, the tire pressure monitoring system has gone through numerous advancements. Today, the tire pressure monitoring system is more precise, durable, easily installable and retrofit. The automobile industry is growing rapidly across the globe. The number of vehicles on road has grown remarkably and it is expected that these number will grow in upcoming years. The rising production and sales of new vehicles are augmenting the need for automotive parts and accessories including a tire pressure monitoring system. The automakers these days are more concerned about the safety level of their vehicles and are installing every potential technology in order to achieve that goal. Also, government initiatives to make such safety technologies essential in every vehicle are backing the growth of the global market of TPMS.
However, advanced technologies such as indirect tire pressure monitoring system increase the overall cost of the vehicle and due to this these technologies are generally found in premium vehicles. The indirect TPMS system is relatively low price and is not as precise as direct measurement systems, are generally found in economy cars. Further, the Asia Pacific region is likely to emerge as the largest market for tire pressure monitoring systems as the sales and production of new vehicles in Asian countries such as China, India, South Korea, and Japan is rising at a remarkable rate. In addition to this, growing automotive aftermarket across the globe is also aiding the growth of the global tire pressure monitoring system market.
The research offers a comprehensive analysis of tire pressure monitoring system market with respect to following sub-markets:
- Direct Tire Pressure Monitoring System
- Indirect Tire Pressure Monitoring System
- Conventional Tire Pressure Monitoring System
- Intelligent Tire Pressure Monitoring System
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel
- Online Sales Channel
- Offline Sales Channel
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as:
- HELLA GmbH & Co. KGaA
- Bridgestone Americas Tire Operations, LLC.
- The Yokohama Rubber Co., Ltd.
- Continental AG
- Huf Hülsbeck & Fürst GmbH & Co. KG
- ZF Friedrichshafen AG
- Robert Bosch Oy
- Sensata Technologies, Inc.
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in tire pressure monitoring system market.
Timeline Considered for Analysis:
- 2019- Base Year
- 2020 – Estimated Year
- 2020 to 2025 – Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global tire pressure monitoring system market by the following segments:
- Vehicle Type
- Sales Channel
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Tire Pressure Monitoring System Industry Report:
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?