Automotive Tire Pressure Monitor System Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos
The tire pressure monitoring system is an
electronic system that monitors the air pressure and temperature in the
vehicle's tire and displays the information on the screen in real-time. This
notifies the driver if there is a risk associated with the vehicle's tire
pressure changing. There are numerous things that influence a vehicle's
pressure reduction. Reduced tire life, vehicle performance, mileage, and safety
are all key factors. The introduction of such a system onto the market has
significant benefits, including enhanced driver convenience and a reduction in
the frequency of accidents caused by the use of such gadgets. Such systems also
improved fuel mileage, tire durability, and tire alignment vehicle handling by
the driver. As per stats one of the major factors for road accidents globally
are the issues related to tires and governments are now taking suitable to
tackle the same. Growing legislation requiring the installation of TPMS in
developed nations such as North America, Europe, and China are propelling the
TPMS industry forward. Furthermore, over the projection period, robust growth
in the automotive industry would be a key driver augmenting the TPMS market
growth.
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The Tire Pressure Monitoring System is
predicted to expand greatly as a result of several severe government rules and
regulations that demand the need to reduce vehicular emissions and improve
automobile fuel efficiency. Many characteristics have now become active considerations
for automotive manufacturers. Many elements are required in the tire pressure
monitoring market presently, with the increase in demand for high-end cars,
changing government restrictions, expanding economy, and environmental
legislation. Automotive systems have progressed and gotten more efficient over
time, and this industry is leaning toward sophisticated technologies, which
will eventually play a key part in obtaining a good market share target.
According to UnivDatos Market Insights (UMI)’ research
report “Automotive Tire Pressure Monitor System Market”, the market
is expected to witness a CAGR growth of around ~10% during the forecast period
2021-2027F. Global Automotive Tire Pressure Monitor System Market is
experiencing significant growth due to the rising number of accidents and
subsequent road fatalities along with changing consumer preference toward
advanced driver assistance systems & safety.
Based on type, the market is segmented into Direct TPMS and
Indirect TPMS. The Direct TPMS segment generated revenue of USD XX billion in
2020 and is expected to grow at a CAGR XX% during the forecasted period. The
direct tire pressure monitoring system has several advantages over the indirect
system, including the ability to deliver accurate pressure for each tire, no
loss of tire pressure information due to tire rotation or replacement, sensor
batteries that typically last the life of the vehicle, and the ability to
monitor spare tires. As a result, direct tire pressure monitoring systems are
anticipated to become a market leaders. However, the segment's high price is
projected to be a major stumbling block
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Based on sales channel, the market is segmented into OEM and Aftermarket.
OEM segment generated revenue of USD XX billion in 2020 and is expected to grow
at a CAGR XX% during the forecasted period. In 2020, the OEMs sector dominated
the tire pressure monitoring system market. Various standards have been
enacted by major organizations to improve car safety systems. Because of
these obligatory standards for all OEMs, the OEMs segment will hold the
majority of the market share in 2020. TPMS batteries typically have a lifespan
of 6 to 10 years. Furthermore, if the battery dies, the complete TPMS must be
replaced, creating an opportunity for the aftermarket section
Based on vehicle type, the market is segmented into Passenger Cars and
Commercial Vehicles. The Passenger Cars segment generated revenue of USD XX
billion in 2020 and is expected to grow at a CAGR XX% during the forecasted
period. TPMS is most commonly used in passenger vehicles, where tire pressure
management is seen as a key safety feature. The automotive industry has been
stepping up its efforts to introduce features that lessen accident impact,
reduce fatalities, and improve overall vehicle safety, fueling the rise of
automotive TPMS in the passenger segment
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Asia
Pacific to Grab Lion’s Share
Based on
the estimation, during the projection period of 2021-2027, Asia-Pacific is
expected to be the fastest-growing market during the forecast period. The
greatest market for automobile TPMS is Asia-Pacific, with Japan and China
serving as significant automotive centers. The Indian automotive TPMS market is
predicted to be driven by rising customer awareness, aftermarket TPMS
installation, and rising demand for luxury vehicles. The demand for
transportation has been growing steadily over the last few decades, propelling
the automobile sector forward in nations like China, India, Japan, and South
Korea. Increased population, which has resulted in an increase in the number of
vehicle users, as well as an increase in the standard of living and the
availability of jobs with higher wages, which helps boost purchasing power, are
all major factors driving the tire pressure monitoring system market for
automotive in the Asia Pacific.
According
to UnivDatos Market Insights (UMI)’, the key players with a considerable market
share in the Global Automotive Tire Pressure Monitor System Market are includes Continental AG,
Robert Bosch GmbH, Huf Hülsbeck & Fürst Co., Aptiv PLC, Denso Corporation,
Valeo, ZF Friedrichshafen AG, Hitachi Automotive Ltd, Sensata Technologies
Inc., Pacific Industrial Co. etc.
·
In July 2018, The family-run Huf Group
from Velbert and the Chinese automotive supplier Baolong from Shanghai signed a
letter of intent to establish a joint venture in the field of tire pressure
monitoring systems (TPMS). The aim is to accelerate growth through joint
activities in the areas of development, purchasing, production and sales and to
achieve a leading market position
“Global Automotive
Tire Pressure Monitor System Market”
provides
comprehensive qualitative and quantitative insights on the industry potential,
key factors impacting sales and purchase decisions, hotspots, and opportunities
available for the market players. Moreover, the report also encompasses the key
strategic imperatives for success for competitors along with strategic
factorial indexing measuring competitor's capabilities on different parameters.
This will help companies in the formulation of go to market strategies and
identifying the blue ocean for its offerings.
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us – https://univdatos.com/report/automotive-tire-pressure-monitor-system-market/
Market Segmentation:
1.
By Type (Direct TPMS and Indirect
TPMS)
2.
By Sales Channel (OEM and Aftermarket)
3.
By Vehicle Type (Passenger Vehicle
and Commercial Vehicle)
4.
By Region (North
America (United States, Canada, Rest of North America), Europe (Germany, France,
UK, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South
Korea, Rest of APAC), and Rest of World)
5.
By Company (Continental AG,
Robert Bosch GmbH, Huf Hülsbeck & Fürst Co., Aptiv PLC, Denso Corporation,
Valeo, ZF Friedrichshafen AG, Hitachi Automotive Ltd, Sensata Technologies
Inc., Pacific Industrial Co.)
Key
questions answered in the study:
1.
What are the current and future trends
of the Global Automotive Tire Pressure Monitor System industry?
2.
How the industry has been evolving in
terms of end-user demand and product category?
3.
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
4.
What are the key growth drivers and
challenges for the Global Automotive Tire Pressure Monitor System industry?
5. What
is the customer orientation, purchase behavior, and expectations from the Global
Automotive Tire Pressure Monitor System suppliers across various countries?
Table
of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 AUTOMOTIVE TIRE PRESSURE MONITOR SYSTEM
MARKET COVID-19 IMPACT
6 AUTOMOTIVE TIRE PRESSURE MONITOR SYSTEM
MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY SALES CHANNEL
9 MARKET INSIGHTS BY VEHICLE TYPE
10 MARKET INSIGHTS BY REGION
11 AUTOMOTIVE TIRE PRESSURE MONITOR SYSTEM
MARKET DYNAMICS
12 AUTOMOTIVE TIRE PRESSURE MONITOR SYSTEM
MARKET OPPORTUNITIES
13 AUTOMOTIVE TIRE PRESSURE MONITOR SYSTEM
MARKET TRENDS
14 LEGAL & REGULATORY FRAMEWORK
15 DEMAND AND SUPPLY SIDE ANALYSIS
16 VALUE CHAIN ANALYSIS
17 COMPETITIVE SCENARIO
18 COMPANY PROFILED
19 DISCLAIMER
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Labels: Automotive
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