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Global TPMS Battery Market Is Expected to Reach USD 793.00 million by 2025

01-29-2020 11:26 AM CET | Energy & Environment

Press release from: Market Research Place

Global TPMS Battery Market Is Expected to Reach USD 793.00

As per the report published by Market Research Place, the global TPMS battery market is expected to grow from USD 457.88 million in 2018 and expected to reach USD 793.00 million by 2025, growing at a CAGR of 8.01% over the forecast period 2019-2025.

In response to a surge in accidents due to underinflated tires, many government have put the strict regulation for the usage of TPMS. One of the outcomes of this legislation is that most vehicles sold in the world since 2007 include a tire pressure monitoring system of some kind.

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TPMS is one of the system specifically used for measuring and monitoring the pressure inside the tires of vehicles. TPMS batteries are mounted inside a tire assembly on wheel rims or valve stems, and the sensors are usually powered by 1.25-volt nickel metal hydride batteries or 3-volt lithium ion batteries. TPMS sensors utilises radio frequency technology to monitor and measure the tire pressure readings and warn drivers of a 25% or more under-inflation level of tires.

Global TPMS battery market is growing rapidly, owing to strict regulation for the usage of TPMS across the globe. However, TPMS batteries average lifespan is more than 10 years. Thus, many customers does not change or replace the batteries until it got damage. Therefore, this is one of main challenge hindering the market growth of TPMS batteries.

Key players operating in the global TPMS battery market includeDuracell Inc., The Swatch Group (Renata SA), BE-POWER GmbH, EVE Energy Co., Ltd., ., Panasonic Corporation, Maxell, Ltd., Guangzhou Mai Sheng Energy Technology Co Ltd, and Murata Manufacturing Co., Ltdamong others.To enhance their market position in the global auto injectors market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

o In May 2018, Maxell announced the launch of heat-resistant battery for a tyre-pressure monitoring system for digitalised cars.

The CR type battery segment held largest market share of 79.82% in 2018

The battery type segment is classified into CR type and BR type. The CR type battery segment held largest market share of 79.82% in 2018, owing to their higher usage in the TPMS battery market. This batteries have a lower self-discharge rate and broad temperature operating range. The CR type battery is capable of operation in a various temperature range for TPMS application from -40? to +125?. These batteries are further classified into CR2320, CR2032, and CR2430. These batteries delivers a voltage of 3 V and are cylindrical, coin and soft pack in shape.

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The Lithium ion held the largest market share and valued at USD 414.61 million in 2018

Type segment is divided into lithium ion and nickel metal hydride.The Lithium ion held the largest market share and valued at USD 414.61 million in 2018.Most tire pressure sensors use Lithium (Li)-ion batteries as the power source for monitoring the pressure inside the tire. A small Li-ion battery shows a distinguished energy capacity that refers to the higher operating temperature range, as well asweight ratio with an output voltage of about 3.7-4.8 V (open-circuit). The lithium ion batteries lasts up to 10 years in the TPMS application.

The up to 350 mA held the largest market share of 86.99% in 2018

The capacity segment is divided into up to 350Ma and above 350ma. The Up to 350 mA held the largest market share of 86.99% in 2018. Coin cells of size 2050 and type 2030 generally have capacity of 350 mA. This type of batteries are thin, lightweight and powerful in terms of performance. Therefore, many vendors installs the 350 Ma batteries than above 350 mA.

Offline sales channel is expected to grow at CAGR 7.18% during the forecast period

The application classified into online and offline sales channel. Offline Sales channel is expected to grow at CAGR 7.18% during the forecast period. Offline sales channels become the primary sales medium for TPMS batteries in geographies where internet reach is a challenge such as emerging regions including Africa. Online retail is continuing to grow at an astounding rate, yet the majority of customers still actually prefer to shop in-store, so there are still great opportunities for TPMS battery vendors to offer battery offline.

OES segment hold the largest market share and valued at USD 364.36 million in 2018.

By distribution channel, market is divides into OES and aftermarket.OES segment held the market share and valued at USD 364.36 million in 2018. OEM TPMS sensors generally comes with 5-7 year battery life, and have minimum failure rate, further boosting the growth of market.

RegionalSegment Analysis of the TPMS battery Market
o North America (U.S. , Canada, Mexico)
o Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
o Asia-Pacific (China, Japan India, Rest of APAC)
o South America (Brazil and Rest of South America)
o Middle East and Africa (UAE, South Africa, Rest of MEA)

The market has been divided into North America, Europe, South America, Asia Pacific, and Middle East and Africa. U.S and Europe held a significant share of 37.51% and 28.46% respectively in the global TPMS battery market, owing to the presence of strict government regulations regarding vehicle safety. In addition to this, Asia Pacific region is expected to grow at significant growth rate, owing to increasing demand from countries such as India and China.

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About the report:
The global TPMS battery market is analysed on the basis of value (USD Million), volume (Units), consumption (Units), imports (Units) and exports (Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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