Automotive Tyre Pressure Monitoring System (TPMS) Market is expected to grow at a CAGR of 15.23% during the forecast period| Major vendors- ALLIGATOR GMBH, CONTINENTAL, DENSO, PACIFIC INDUSTRIAL, SCHRADER ELECTRONICS amongst others

Market Analysis:

TPMS is an electronic system designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. In addition, TPMS warns the driver about the number of tires that are underinflated. The increasing demand from emerging markets such as India and China as a result of the rising demand for automobiles and new TPMS regulations in China and South Korea will also positively affect the growth of the market.

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Automobile manufacturers are shifting their focus to the use of direct TPMS sensors to improve safety of consumers. The demand for and adoption of direct TPMS is constantly increasing among consumers because of the ease provided by these systems; i.e., automatically resetting as and when tires are inflated or rotated. Governments across the world are taking initiatives to introduce TPMS in as many applications as possible to increase fuel efficiency and for the rising concern for passenger and automobile safety have compelled governments across the world to implement safety regulations. However, functional errors as a result of the failure of electronic sensors, use of defective sensors and battery failure result in the failure of TPMS, resulting in accidents.

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Market Segments:
Automotive Tyre Pressure Monitoring System Market is segmented by:
1. Type: Direct TPMS, Indirect TPMS
2. End-User: OEM, Aftermarket
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market:
• January 2018: Garmin launched its GTP400KIT as an aftermarket TPMS fitment.
• November 2017: Continental Automotive showcased its latest range of TPMS which uses high-frequency signal to send coded information to the receiver.

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