Automotive Tire Pressure Monitoring System Market 2022 Global Industry Share, Size, Future Demand, Global Research, Key Players, Emerging Trends, Region by Forecast to 2027
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The automotive tire pressure monitoring system (TPMS) market studied was valued at over USD 5 billion in 2020, and it is expected to reach a value of USD 12 billion by 2027, registering a CAGR of more than 13.3% during the forecast period.
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
Top Leading Companies:
Schrader (Sensata), Continental, ZF TRW, Lear, ACDelco, Pacific Industrial, Bendix, Huf, CUB Elecparts, Sate Auto Electronic, Denso, Baolong Automotive, NIRA Dynamics, Orange Electronic, Shenzhen Autotech
In October 2019, the European market’s move into TPMS equipment for commercial vehicles, Ateq TPMS Tools LC (which has one of its four international headquarters in France) recently launched the VT Truck, which is already “making waves” as an HGV TPMS maintenance tool for workshops.
Automotive Tire Pressure Monitoring System Market Segmentation by Type:
Indirect Tire Pressure Monitoring System
Direct Tire Pressure Monitoring System
Automotive Tire Pressure Monitoring System Market Segmentation by Application:
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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 2027. 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 and other ADAS. 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 Automotive Tire Pressure Monitoring System Market (Regional Output, Demand & Forecast by Countries)
North America (United States, Canada, Mexico)
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 additional.
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Highlights of the Automotive Tire Pressure Monitoring System Market Report:
Detailed overview of Automotive Tire Pressure Monitoring System Market
Changing the Automotive Tire Pressure Monitoring System market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Automotive Tire Pressure Monitoring System market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Automotive Tire Pressure Monitoring System Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Automotive Tire Pressure Monitoring System Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Automotive Tire Pressure Monitoring System industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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