Tire Pressure Monitoring System Market Industry Business Insights |Top Key Players - Sensata Technologies Inc, Continental AG, Schrader Electronics |Trends And Forecast Report 2018-2023.

Global Tire Pressure Monitoring System Market is predicted to grow at more than 7% by 2023 :

Market Highlights

Global tire pressure monitoring system is expected to grow significantly over the forecast period owing to the introduction of strict government regulations, which mandate the need of curbing vehicular emissions and improving the fuel efficiency of the vehicle. With the increasing adverse effects of greenhouse gases and the deteriorating air quality, the government of many countries has mandated the emission standards to be followed by automotive manufacturers. The growth of the automotive industry is majorly driven by numerous factors such as the increase in demand for high-end luxury cars, and rising economic and environmental policies. These factors are expected to increase the focus of the customers for adoption of advanced safety systems such as tire pressure indicators, anti-brake systems, and electronic stability control in the vehicles. This results in the growth of the automotive aftermarket. Further, new regulations were introduced in emerging nations, which demand the installation of tire pressure monitoring systems. This will lead to an increase in demand for the aftermarket tire pressure monitoring systems.

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Key Players

• Sensata Technologies Inc
• Continental AG
• Pacific Industrial Co. Ltd
• Huf Hülsbeck & Fürst GmbH & Co. KG
• ZF Friedrichshafen AG

Scope of the Report

This study provides an overview of the global tire pressure monitoring system market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the tire pressure monitoring system market by its technology, by vehicle type and by region.

By Technology

• Direct TPMS
• Indirect TPMS

By Vehicle Type

• Passenger
• Light Commercial
• Heavy Commercial

By Regions

• North America
• Asia Pacific
• Europe
• Rest of the World
•

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Market Research Analysis
Passenger vehicle type, expected to grow at the highest CAGR
Passenger vehicle type will dominate the tire pressure monitoring system market. The significant rise in sales of passenger vehicles, with the development of multibillion dollar luxury and semi-luxury car manufacturing industry, will be the major driver for the growth of passenger vehicle in tire pressure monitoring system market. Also, factors such as adoption of safety regulations by government agencies, along with an increase in vehicle sales, and safety installations per vehicle, are fuelling the demand for automotive tire pressure monitoring system globally.

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