According to the latest report by IMARC Group, titled “Tire Pressure Monitoring System (TPMS) Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”The global tire pressure monitoring system market size reached a value of US$ 5.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2027, exhibiting a CAGR of 9.77% during 2022-2027.
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.
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.
Base Year: 2021
Forecast Year: 2022-2027
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:
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 Hülsbeck & Fürst 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:
Breakup by Technology:
Breakup by Vehicle Type:
Breakup by Distribution Channel:
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
Comprehensive Mapping of the Competitive Landscape
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TOC for the Report:
Scope and Methodology
Value Chain Analysis
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