openPR Logo
Press release

Automotive TPMS Market Predicted to Grow at 6.7% CAGR by 2024

Automotive TPMS Market Predicted to Grow at 6.7% CAGR by 2024

The global automotive TPMS market is expected to expand at a CAGR of 6.7% in terms of value during the forecast period. Presently, North America is the largest market for automotive TPMS, however, Asia-Pacific is expected to emerge as the largest market for automotive TPMS over the forecast period.

Stringent government regulations to equip TPMS in passenger vehicles, growing adoption of automotive safety systems and rising focus on improving fuel economy and reducing property damage as a result of accidents associated with low tire pressure are key factors expected to fuel demand for automotive TPMS over the forecast period (2016-2024).

Browse Complete Report @ http://www.persistencemarketresearch.com/market-research/tire-pressure-monitoring-systems-market.asp

Direct TPMS is estimated to account for leading market revenue share of 99% by 2016 end. Global sales of direct TPMS is estimated to increase at a CAGR of 6.7% from 2016 to 2024. This high growth is due to expected implementation of legislations related to the TPMS in countries such as China, India, Japan, and Russia.

By vehicle type, passenger car segment is the largest segment in the global automotive TPMS market. This segment is estimated to account for 79% value share of the market by 2016 end. Growing demand for luxury cars is expected to continue to push demand for automotive TPMS in passenger car segment. Mandatory use of TPMS in passenger vehicles in the U.S., South Korea, and the European Union is further fueling the growth of the passenger cars segment in the global automotive TPMS market.

A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3630

Aftermarket segment is projected to continue to account for a major market share in 2016. Direct TPMS requires replacement after a certain period of time and increasing vehicle parc is expected to drive sales through the aftermarket, especially in the U.S. and the European Union where the TPMS use mandatory for passenger vehicles.

North America is estimated to remain the largest market for automotive TPMS, accounting for 47.3% revenue share of the market by 2016 end. Demand is expected to be robust in Europe, where adoption of TPMS mandating legislation would drive the growth of the market.

Request to view table of content @ http://www.persistencemarketresearch.com/market-research/tire-pressure-monitoring-systems-market/toc

Sensata Technologies Inc., Continental AG, and Pacific Industrial Co., Ltd. are projected to continue to be the top three players in the global automotive TPMS market. Mergers & acquisitions remains a key business strategy for leading players in the global automotive TPMS market. Major players in the global TPMS market are also focusing on expanding their aftermarket businesses, as the aftermarket sales is a major revenue generation source for TPMS manufacturers.

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us

Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353

Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive TPMS Market Predicted to Grow at 6.7% CAGR by 2024 here

News-ID: 616096 • Views:

More Releases from Persistence Market Research

Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by Sustainability and Supply Chain Efficiency
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Growth - Persistence Market Research
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Healthcare Demand
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained

All 5 Releases


More Releases for TPMS

Tire Pressure Monitoring System (TPMS) (Automobile TPMS) Market to Witness Huge …
Tire Pressure Monitoring System (TPMS) (Automobile TPMS) Market uses sensors attached to the wheel speed sensors of ABS/ESC systems to monitor the tyre pressure of a vehicle. The battery-operated TPMS system has a lifespan of 6 to 10 years. Several governments have started implementing strict safety laws that call for the incorporation of cutting-edge safety features like TPMS, ABS, and lane departure warning systems. To lower the rising accident rate,
Global Tire Pressure Monitoring System (TPMS) (Automobile TPMS) Market size,Shar …
"A SWOT Analysis of Tire Pressure Monitoring System (TPMS) (Automobile TPMS), Professional Survey Report Including Top Most Global Players Analysis with CAGR and Stock Market Up and Down." Apply here for the FREE sample copy of the report @: https://www.syndicatemarketresearch.com/sample/tire-pressure-monitoring-system-tpms-automobile-tpms-market The "Tire Pressure Monitoring System (TPMS) (Automobile TPMS) Market" research report presents an all-inclusive study of the global Tire Pressure Monitoring System (TPMS) (Automobile TPMS) market. The report includes all the major
Battery-less TPMS Market Top Companies Analysis, In-Depth Insight, Business Oppo …
A thorough analysis of Battery-less TPMS Market statistics about the current as well as emerging trends offers clarity regarding the Battery-less TPMS Market dynamics. The report includes Porter's Five Forces to analyze the prominence of various features such as the understanding of both the suppliers and customers, risks posed by various agents, the strength of competition, and promising emerging businesspersons to understand a valuable resource. Also, the report spans the
Global Automobile TPMS Market | Compound Annual Growth Rate
A Tire Pressure Monitoring System (TPMS) is an electronic system designed to monitor the air pressure inside pneumatic tires on various types of vehicles. According to the Report Consultant latest document, the Automobile TPMS Market is projected to develop at a rapid pace. Therefore, during the forecast period, the report estimates market share in terms of volume. In addition, this document contains an in-depth analysis of current developments, development opportunities,
Battery-less TPMS Market Estimation with Key Players like Batteryless TPMS, ALPS …
Battery-less TPMS Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. Get FREE Sample Report Before Buying @ https://www.upmarketresearch.com/home/requested_sample/10252 UpMarketResearch offers a latest published report on “Global Battery-less TPMS Market Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a
Automotive Tire Pressure Monitoring System (TPMS) Market Report 2018: Segmentati …
Global Automotive Tire Pressure Monitoring System (TPMS) market research report provides company profile for Continental AG (Germany), Pacific Industrial Co. Ltd (Japan), Huf Hülsbeck & Fürst GmbH & Co. KG (Germany), ZF Friedrichshafen AG (Germany), Schrader Electronics (U.K) and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume,