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P&S Market Research - Automotive and Transportation

07-04-2018 08:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Market Research

Tyre Pressure Monitoring Systems (TPMS) Market

Tyre Pressure Monitoring Systems (TPMS) Market

The global tyre pressure monitoring system (TPMS) market is driven by the technological advancements and increased safety awareness among consumers. The increase in vehicle sales as a result of growth in per capita income of consumers is another factor, which is driving the growth of the global tyre pressure monitoring system industry.

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The reduced fuel consumption, real time pressure & temperature monitoring, and increased lifespan of tyre are some of the advantages of tyre pressure monitoring system.

The automotive safety systems have become more sophisticated, advanced, and efficient. The augmented adoption rate of automotive safety systems by the automotive industry has resulted in the reduced number of accidents and minimizes the impact of accidents on people. Tyre pressure monitoring systems (TPMS) is a device to control real time tyre pressure and temperature. It is used to monitor the air pressure inside the inflated tyres on several types of vehicles. Wireless TPMS consists of a display unit and sensors. The display unit consists of a built in lithium ion battery in the display unit, so that there is no need to connect a power cable with it.

North America dominated the global tyre pressure monitoring systems market in 2014. Europe is expected to dominate the global market and witness high growth in the future. The vehicles equipped with original equipment manufacturing accessories are more reliable, as compared to the after-market tyre pressure monitoring systems.

Explore Research Report At: https://www.psmarketresearch.com/market-analysis/tyre-pressure-monitoring-systems-market

The increasing demand for luxury vehicles in the regions, such as Europe and Asia- Pacific, mainly in developing economies such as India and China, is driving the growth of the global tyre pressure monitoring system market. ZF TRW Automotive Holdings Corp., AVE Technologies, Schrader International Inc., General Electric Company, BARTEC US Corp. are some of the major competitors in the global tyre pressure monitoring systems market.

About P&S Market Research

P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

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