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Automotive Tire Pressure Monitoring System Market: Demand, Growth Challenges And Forecasts To 2032
Automotive Tire Pressure Monitoring System Market
The Business Research Company's Automotive Tire Pressure Monitoring System Global Market Report 2023 identifies growing number of accidents as the major driver for the Automotive Tire Pressure Monitoring System market's growth in the forecast period. Accidents are unexpected, unwanted, and sudden events that are associated with injury or loss of life. The subsequent road fatalities and accidents prompted the regulatory authorities to mandate the installation and employment of tyre pressure monitoring systems in automobiles, thereby promoting the production of automotive tyre pressure monitoring systems
The global automotive tyre pressure monitoring system market size grew from $7.25 billion in 2022 to $8.6 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the automotive tyre pressure monitoring system is expected to grow to $15.74 billion in 2027 at a CAGR of 16.3%.
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Major competitors in the Automotive Tire Pressure Monitoring System market are Continental AG, Sensata Technologies Inc., Denso Corporation, Pacific Industrial Co. Ltd., NXP Semiconductors, Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, Hamaton Automotive Technology Co. Ltd., ATEQ TPMS, Alligator Ventilfabrik GmbH, Alps Alpine Co. Ltd., Doran Manufacturing, Bartec USA LLC, Dill Air Controls Products, ZF Friedrichshafen AG, and DUNLOP TECH GmbH
A key trend in the Automotive Tire Pressure Monitoring System market includes Technological advancements. Major companies operating in the automotive TPMS sector are focused on research activities and new product innovations with advanced technologies for market growth.
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The Automotive Tire Pressure Monitoring System market is segmented -
1) By Type: Direct TPMS, Indirect TPMS
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
3) By Sales Channel Type: OEM, Aftermarket
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Automotive Tire Pressure Monitoring System market.
The Business Research Company's "Global Automotive Tire Pressure Monitoring System Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Tire Pressure Monitoring System Market Include:
1. Executive Summary
2. Automotive Tire Pressure Monitoring System Market Characteristics
3. Automotive Tire Pressure Monitoring System Market Trends And Strategies
4. Automotive Tire Pressure Monitoring System Market - Macro Economic Scenario
5. Automotive Tire Pressure Monitoring System Market Size And Growth
.......
26. Africa Automotive Tire Pressure Monitoring System Market
27. Automotive Tire Pressure Monitoring System Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Tire Pressure Monitoring System Market
29. Automotive Tire Pressure Monitoring System Market Future Outlook and Potential Analysis
30. Appendix
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