Aftermarket Tire Pressure Monitoring System (TPMS) Market Share 2021: Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects and Forecasts to 2027 - Schrader (Sensata), Continental, ZF, Pacific Industrial, Huf, Bao

The “Aftermarket Tire Pressure Monitoring System (TPMS) Market” report provides 2021-2027 a detailed market overview based on current and future trends that will determine the profit structure. Market size, demand, supply chain, market growth factors, and future trends. It involves an in-depth study of the current trends leading to this vertical trend in different regions. The report provides important information related to components and factors such as market size, market share, market segmentation, main growth drivers, and market competition. Aftermarket Tire Pressure Monitoring systems (TPMS) market segments are highlighted by type and application, region, and major players. It provides key statistics on the market conditions of major market participants.

“The Aftermarket Tire Pressure Monitoring System (TPMS) Market is predicted to register a CAGR of 10% over the forecast period 2021 – 2027.”

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Market Overview

With the shutdown of assembly lines, social distancing norms, and stringent lockdown worldwide due to the COVID-19 pandemic, the R&D of tire pressure monitoring systems was successfully carried out, but the fabrication of materials and sensors phase had a fallback. The market took a back step. However, with more personal mobility preferences that will come up post-pandemic, the market is expected to get back into a good economic position.

The major factors driving the TPMS market are:

Consumer preference toward advanced driver assistance systems, with safety acting as a major propellant for the growth of the automotive TPMS market
Spike in the sales of luxury vehicles, with TPMS in their safety features, which further propelled the market growth of automotive TPMS
The growing number of accidents and subsequent road fatalities, which prompted the regulatory authorities of many countries to mandate the employment of TPMS in automobiles

Key Competitors of the Aftermarket Tire Pressure Monitoring System (TPMS) market is:

Schrader (Sensata), Continental, ZF, Pacific Industrial, Huf, Baolong Automotive, Bendix, Denso, NIRA Dynamics, CUB Elecparts, Steelmate, DIAS, Orange Electronic, Shenzhen Autotech, ACDelco, Nanjing Top Sun

Recent Development

Denso 

Denso has acquired 6 companies, including 2 in the last 5 years. Denso has acquired in 2 different US states, and 4 countries. The Company’s most targeted sectors include automotive (34%) and software (34%). DENSO is a supplier of advanced automotive technology, systems and components for all the world's major automakers. The Company operates in more than 35 countries and regions and is headquartered in Kariya, Japan. Denso was founded in 1949 and is based in Kariya, Japan.

DIAS

Dias Aquaculture S.A. has acquired 3 companies. The Company’s most targeted sectors include food (67%) and marine (34%). Dias Aquaculture S.A. is a sea bass and sea bream producer. Dias operates hatcheries, fish farming sites, packaging and distribution centres, and fish-processing factories.

Impact of COVID-19 on the Aftermarket Tire Pressure Monitoring System (TPMS) Market:

The rise of COVID-19 has tempered showcase improvement; anyhow, the market is consistently choosing up-tempo because of growing lockdowns. The fast increment in CAGR is thanks to the request and extension of this marketplace, which is a practicality to come to pre-pandemic ranges once the large, is gone.

Major Types covered are:

Direct TPMS
Indirect TPMS

Major Applications covered are:

Passenger Vehicle
Commercial Vehicle

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Asia-Pacific Growing at a Fast Pace

The Asia-Pacific automotive TPMS market is expected to witness a high CAGR during the forecast period. Countries from Asia-Pacific are expected to hold a significant share in the global automotive TPMS market by the end of 2026. The market in the region is driven by China and India. Factors, like increasing market penetration of premium cars and a rise in safety installations per vehicle (due to the adoption of safety regulations by governments/agencies), are accelerating the demand for TPMS. In the advanced economies of Asia-Pacific, like Japan, South Korea, and Singapore, safety systems, including automotive TPMS, featured in compact and mid-sized vehicles, are advanced in nature and usually at par with those available in Europe and North America.

Regional market Aftermarket Tire Pressure Monitoring System (TPMS) (regional production, demand and forecast by country):

South America (Brazil, Argentina, Ecuador, Chile)

Asia Pacific (China, Japan, India, Korea)

Europe (Germany, UK, France, Italy)

Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And more.

The inquire approximately record considers the past, display, and destiny execution of the global market. The record advances investigations the display aggressive situations, most important trade models, and consequently the possible headways in services with the aid of using crucial gamers inside the upcoming years.

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Key Market Trends

Increasing Adoption of TPMS in Passenger Cars

TPMS usually finds major applications in the passenger vehicle segment, where tire pressure management is considered a critical safety system. The automotive industry has been stepping up on introducing features that minimize the impact of collisions, reduce fatalities, and improve overall vehicle safety, thereby fueling the growth of the automotive TPMS market during the forecast period.

Despite the poor growth rate of the passenger vehicle segment, the market for premium luxury vehicles is expected to increase significantly in Asia-Pacific. Luxury vehicles are expected to witness an extremely high growth rate across the entire passenger vehicle segment. With TPMS fitted in a majority of these vehicles, the passenger vehicle segment is poised to drive the market for automotive TPMS significantly.

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