openPR Logo
Press release

Automotive Tire Pressure Monitoring Systems (TPMS) Market Progress & Manufacturer Contribution Highlighted until 2024

Global market for automotive tire pressure monitoring systems is anticipated to witness moderate growth over the forecast period, 2016-2024. Increasing focus on fuel economy worldwide will continue to drive market in 2016, reaching US$ 7.5 Bn. Stringent vehicle safety regulations are also estimated to push the market. Direct TPMS will be a clear dominator globally. The global automotive TPMS market is expected to register a CAGR of 6.7% in terms of value during the forecast period (2016-2024)

Rising adoption of automotive safety systems and strict regulations by various governments regarding TPMS equipment in passenger vehicles are predicted to be the key drivers throughout the forecast period. Increasing need for reduction in number of accidents caused as a result of low tire pressure, is also a major factor influencing the automotive TPMS market growth.

Browse Sample of Full report @ https://www.researchsolutioninsights.com/report/sample/230442-Automotive-Tire-Pressure-Monitoring-Systems-(TPMS)-Market

Direct TPMS will remain the dominant segment with nearly 99% of the total market revenue share, owing to technological advancement. Moreover, direct tire pressure monitoring systems need to be replaced after regular intervals, which is a key factor fueling their demand in market. Indirect TPMS segment is estimated to witness steady growth in developing nations because of lower costs.

By vehicle type, passenger cars will remain the largest segment, accounting for nearly 79% market share in terms of revenues, in 2016. Increasing preference for luxury cars and mandatory use of TPMS in passenger cars all over the U.S., EU, and South Korea is expected to propel the demand for automotive TPMS further.

Aftermarket segment will continue contributing a major revenue share to market during the forecast period, attributed to burgeoning vehicle parc on roads.

Based on region, North America, the largest market for automotive TPMS, is expected to face strong competition from Asia Pacific. N. America will account for over 47% revenues in 2016 but may drop the top position during the forecast period. Automotive TPMS are foreseen to witness robust demand in Europe as well. China, Japan, India, and Russia will emerge as highly lucrative markets for direct TPMS, following the potential regulatory legislations regarding TPMS.

Give me Hefty discount @ https://www.researchsolutioninsights.com/report/discount/230442-Automotive-Tire-Pressure-Monitoring-Systems-(TPMS)-Market

The key players competing in the global automotive TPMS market, include Sensata Technologies Inc., Continental AG, and Pacific Industrial Co., Ltd. Leading companies are expected to continue merger and acquisition strategy, followed by the expansion of aftermarket businesses, an emerging revenue generation channel.

Research Solution Insights is a U.S. based market research and consulting company. We are the best destination for your research and analytical solutions; simply because our primary and secondary sources of information are adroit to give one stop solutions. Company provides syndicated research reports, customized research reports, and consulting services.

10 rue Pierre Grange,
Zone industrielle de la pointe,
94120 Fontenay sous Bois

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive Tire Pressure Monitoring Systems (TPMS) Market Progress & Manufacturer Contribution Highlighted until 2024 here

News-ID: 1634101 • Views: 246

More Releases from RESEARCH SOLUTION INSIGHTS

Infectious Disease Diagnosis Test Kits Market to Showcase Vigorous Demand during …
Global market for infectious disease diagnostic test kits is expected to gain a value of US$ 876.6 Mn in 2016, up from US$ 827.7 Mn in 2015. Increasing incidences of infectious diseases worldwide will continue to drive market by 2024 end. Asia Pacific is anticipated to form the most attractive market for infectious disease diagnostics. Browse Sample of Full report @ https://www.researchsolutioninsights.com/report/discount/230444-Infectious-Disease-Diagnosis-Test-Kits-Market Increasing rate of infectious diseases, including influenza, malaria,
Bone Densitometer Devices Market Expansion Projected to Gain an Uptick During 20 …
Bone densitometers are devices used for non-invasive measurement of bone mineral density in order to determine an individual’s bone health. This device has an essential role in the evaluation of patients at risk of osteoporosis and fracture. There are two types of bone densitometer devices available in the market viz. Axial Bone Densitometer and Peripheral Bone Densitometer. Several methods are available to measure bone density, but currently the most accurate
Biopsy Device Market Prime Economies Expected to Deliver Major Growth until 2026
Biopsy Device market is projected to reach US$ 2,621.4 Mn by 2026 due to the government initiatives to enhance availability of cancer diagnosis and treatment. Biopsy device market can be broadly classified into product segments such as guidance system, needles, guns, reagents & kits and others (brushes, curettes and punches etc.); by application such as medical diagnosis and scientific research; and by end users which are hospital, specialized oncology centre,
Automotive Ignition Coil Market Market Forecast Covering Growth Inclinations & D …
The long-term outlook on the global automotive ignition coil market remains positive, with market value expected to increase at a CAGR of 4.5% during the forecast period (2016 – 2026). Among product types, the pencil ignition coil segment is expected to expand at a significant CAGR in terms of value over the forecast period. Global sales of automotive ignition coil is estimated to be valued at US$ 2,460.9 Mn by

All 5 Releases


More Releases for TPMS

Battery-less TPMS Market Estimation with Key Players like Batteryless TPMS, ALPS …
Battery-less TPMS Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. Get FREE Sample Report Before Buying @ https://www.upmarketresearch.com/home/requested_sample/10252 UpMarketResearch offers a latest published report on “Global Battery-less TPMS Market Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a
Global TPMS Sensor Market Analysis, Growth, Trends & Forecast 2018-2023
June 2018, New York USA (News)- A new market study, titled “Global TPMS Sensor Market Research Report 2018”, has been featured on Research Reports Inc. This report studies the global Medical Alert Systems market status and forecast, categorizes the global Medical Alert Systems market size (value, volume) by key players, type, application The global market size of TPMS Sensor Market is $XX million in 2017 with XX CAGR from 2013 to
Tire Pressure Monitoring System (TPMS) Aftermarket | ResearchByMarkets
ResearchByMarkets / Press Release / Automotive, "Global and China Tire Pressure Monitoring System (TPMS) Industry Report, 2017-2021", 165 Pages, 16 Companies Profiled. Summary Tire Pressure Monitoring System (TPMS) is an electronic system designed to monitor the air pressure inside the pneumatic tires on various types of vehicles. Aftermarket TPMS refers to TPMS which is used in a car after the owner purchased the car. Peruse more information: https://www.researchbymarkets.com/report/global-and-regional-aftermarket-tire-pressure-monitoring-system-tpms-market-research-report-2017-11431.html Market Segment for Tire Pressure Monitoring
By 2024, Automotive TPMS Market to Value at 6.7% CAGR
By vehicle type, passenger car segment is the largest segment in the global automotive TPMS market. This segment is estimated to account for 79% value share of the market by 2016 end. Growing demand for luxury cars is expected to continue to push demand for automotive TPMS in passenger car segment. Mandatory use of TPMS in passenger vehicles in the U.S., South Korea, and the European Union is further fueling
Global Battery-less TPMS Market 2017 : Transense, VisiTyre, STE Engineering
Global Battery-less TPMS Market 2016 - 2017 A market study based on the " Battery-less TPMS Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Battery-less TPMS Market 2017’. The research report analyses the historical as well as present performance of the worldwide Battery-less TPMS industry, and makes predictions on the future status of Battery-less TPMS market on the basis of this analysis. Get Free
By 2024 Automotive TPMS Market to Rise at 6.7% CAGR
The global automotive TPMS market is expected to expand at a CAGR of 6.7% in terms of value during the forecast period. Presently, North America is the largest market for automotive TPMS, however, Asia-Pacific is expected to emerge as the largest market for automotive TPMS over the forecast period. Browse Complete Report @ http://www.persistencemarketresearch.com/market-research/tire-pressure-monitoring-systems-market.asp Stringent government regulations to equip TPMS in passenger vehicles, growing adoption of automotive safety systems and rising focus