Tire Pressure Monitoring Systems (TPMS) Market Report Growth Trends and Competitive Strategies (2020-2028)

This detailed market study focuses on data from different primary and secondary sources and is analyzed using various tools. It helps to gain insights into the market's growth potential, which can help investors identify scope and opportunities. The analysis also provides details of each segment in the global tire pressure monitoring system (TPMS).

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What is a tire pressure monitoring system (TPMS)?

A tire pressure monitoring system (TPMS) is an electronic system that is used for monitoring the air pressure and temperature of the vehicle's tire in real-time and alerting the driver as well by using an alarm and displaying the real-time pressure and temperature on an LCD. The reduction of pressure in an automobile tire results in decreased tire life, mileage, safety, and vehicle performance. Thus, the major advantages of introducing such systems are that they improve convenience during driving and also help to reduce the number of accidents. TPMS also aids to increase the fuel mileage, durability of tires and also provides proper vehicle handling.

Segmentation for better understanding of this market and its growth prospects:

The global tire pressure monitoring system (TPMS) market is segmented on the basis of technology, vehicle technology, and sales channel.

Based on, technology, it is segmented into direct and indirect TPMS. The direct TPMS technology is majorly used as it provides many advantages when compared to the indirect system such as it delivers accurate pressure for every tire and there is no leach that is caused in the tire pressure information by tire rotation or replacement, sensor batteries.

By Vehicle Technology, it is segregated into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Owing to the increasing disposable income of the people, there has been significant growth in the passenger vehicle segment.

Based on, the sales channel, it is divided into OEM and aftermarket. The OEMs are adopting various intelligent systems driven by sensors to boost car sales. The intelligent tire pressure monitoring system is expected to drive the growth of the next-gen vehicles and the tire pressure monitoring system market.

Key Factors Impacting Market Growth:
o Increasing the need for curbing vehicular emissions and improving the fuel efficiency of the vehicle.
o Increasing focus of the customers for the adoption of advanced safety systems
o Rise in traveling frequencies due to rapid urbanization and changing lifestyles

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Regional segmentation and analysis to understand growth patterns:
The market has been segmented in major regions to understand the global development and demand patterns of this market.
By region, North America, Western Europe, and the Asia Pacific dominate the tire pressure monitoring system (TPMS). In these regions, the automotive sectors have been competitive across the terms of technological advances and product shifts.

Some of these factors are expected to affect the dynamics of the North American and Western European tire pressure monitoring systems (TPMS). The US, Germany, France, Italy, UK, and Spain were some of the major economies of the tire pressure monitoring system (TPMS).

With the growth of the automotive sector the Middle East region promises a strong market potential. The Asia Pacific is estimated to be the fastest-growing region for the tire pressure monitoring system (TPMS). This region has been one of the lucrative markets for the automotive sector in the past few decades with strategic investments by global companies in the region.

This report provides:
1) An overview of the global market for tire pressure monitoring system (TPMS) and related technologies.
2) Analysis of global market trends, yearly estimates and annual growth rate projections for compounds (CAGRs).
3) Identification of new market opportunities and targeted consumer marketing strategies for the Global tire pressure monitoring system (TPMS).
4) Analysis of R&D and demand for new technologies and new applications
5) Extensive company profiles of key players in the industry.

The researchers have studied the market in-depth and have developed important segments such as product type, application, and region. Each and every segment and its sub-segments are analyzed based on their market share, growth prospects, and CAGR. Each market segment offers in-depth, both qualitative and quantitative information on market outlook.

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With an emphasis on both organic and inorganic growth strategies, there have been several primary developments done by major companies like Robert Bosch, ZF Friedrichshafen AG, Continental AG, Sensata Technologies, Inc., Denso Corporation, Pacific Industrial Co., Ltd., NXP Semiconductors, WABCO, Huf H lsbeck & FIrst GmbH & Co. KG, NIRA Dynamics AB, Bendix Commercial Vehicles Systems LLC, Dunlop Tech GmbH, Hampton Automotive Technology Co., Ltd., Bartec USA LLC, and ATEQ.

Market Segmentation:
By Technology:
Direct
Indirect

By Vehicle Type:
Passenger vehicles
Light Commercial vehicles
Heavy Commercial vehicles
By Sales Channel:
OEM
Aftermarket

By Region:
North America
By Country (US, Canada, Mexico)
By Technology
By Vehicle Type
By Sales Channel

Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Technology
By Vehicle Type
By Sales Channel

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Technology
By Vehicle Type
By Sales Channel

Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Technology
By Vehicle Type
By Sales Channel

Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Technology
By Vehicle Type
By Sales Channel

Rest of the World
By Region (South America, Africa)
By Technology
By Vehicle Type
By Sales Channel

Reasons to Buy This Report:

Market size estimation of the global tire pressure monitoring system (TPMS) market on a regional and global basis
The unique research design for market size estimation and forecast
Profiling of major companies operating in the market with key developments
Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:
By Segment
By Sub-segment
By Region/Country

Contact:
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Pune, Maharashtra 411028
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This release was published on openPR.