According to the latest report by IMARC Group, titled “Tire Pressure Monitoring System (TPMS) Market Size : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The global tire pressure monitoring system (TPMS) market reached a value of US$ 5.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2027, exhibiting a CAGR of 9.77% during 2022-2027.
A tire pressure monitoring system (TPMS) is an electronic system that is utilized to monitor the air pressure present in a vehicle’s tire while reflecting the reading on the display screen in real-time. They are widely employed to analyze potential risks associated with the changes in the pressure as well temperature of tires while improving overall vehicle safety.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Tire Pressure Monitoring System (TPMS) Market Trends:
The global market is majorly driven by the increasing adoption of advanced driver-assistance systems (ADASs) in numerous vehicles to ensure optimum safety. Since TPMS is an essential component of the ADASs that is utilized to gather precise tire pressure information and display the same in real-time,this is providing an impetus to the market growth. Moreover, continual technological advancements, such as the integration of energy harvesting with TPMS, in the market is also creating a positive outlook for the market. Some of the other factors contributing to the market growth include the rising need for minimizing the incidences of road accidents and extensive research and development (R&D) activities conducted by several key players.
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Global Tire Pressure Monitoring System (TPMS) Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ATEQ, Bartec USA LLC, Bendix Commercial Vehicle Systems LLC (Knorr Brake Holding Corporation), Continental Aktiengesellschaft, Denso Corporation, Hamaton Automotive Technology Co. Ltd. (Hangzhou Hamaton Intelligent Control Holdings Co. Ltd.), Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, NXP Semiconductors N.V., Pacific Industrial Co. Ltd., Sensata Technologies Inc. and WABCO Holdings Inc. (ZF Friedrichshafen AG).
The report has segmented the market on the basis on region, type, technology, vehicle type and distribution channel.
Breakup by Type:
- Direct TPMS
- Indirect TPMS
Breakup by Technology:
- Intelligent TPMS
- Conventional TPMS
Breakup by Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
Breakup by Distribution Channel:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization
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