Global Tire Pressure Monitoring System Market by Vehicle (Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV) & Passenger Vehicle) by Technology (Direct TPMS & Indirect TPMS) by Sales Chanel Type (OEMs & Aftermarket) and by region (North America, Europe, Asia Pacific, Middle East & Africa & South America) Global Tire Pressure Monitoring System Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during a forecast period.
Driving factors for the Tire Pressure Monitoring System Market are the rise in number of commercial vehicles as well as passenger vehicle are increasing over the years. New trends in the global automotive industry has led the automotive OEMs and component manufacturers to innovate and develop advanced solutions in order to be up to the performance of the vehicles. Fuel efficiency of any vehicle is much dependent on tire pressure, manufacturers are installing advanced tire pressure monitoring systems on the vehicles with an objective to meet the surging demand for improved fuel efficiency. Changing Technology and High cost will act as a restraint to the market.
Direct TPMS is leading the Tire Pressure Monitoring System Market.
Direct TPMS is helping in avoiding traffic accidents, poor fuel economy, and increased tire wear due to under-inflated tires. Direct TPMS is largely due to the new systems utilizing better wheel speed sensors and modules in order to perform more accurate calculations than ever before. Direct TPMS helping to keep drivers aware if their tires have decreased 25 percent below the recommended inflation level. Aftermarket Direct TPMS units not only transmit while vehicles are moving or parked, but also provide users with numerous advanced monitoring options including data logging, remote monitoring options and more.
In Sales Channel, OEMs is also expected to lead the market growth.
Asia Pacific is the leading regional market for Tire Pressure Monitoring System Market.
Asia-Pacific trade has dominated trading activities in Asia Pacific over long period of time, while the share of Asia Pacific in total world trade has been increasing. The developing countries in Asia Pacific have also become major players in international trade. Foreign direct investment (FDI) from and into Asia Pacific economies has also grown significantly in recent years. The strong performance of manufacturing export has been the source of growth in Asia Pacific, especially the East Asian region. Growing economic interdependence and market integration, Asia Pacific economies realizing the need for stronger economic cooperation in the region
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as are Alligator Gmbh, Continental, Denso, Pacific Industrial, Schrader Electronics, Delphi Automotive LLP, Huf Hulsbeck & Furst GmbH & Co. KG, ZF Friedrichshafen, Sensata Technologies Inc., Bartec USA LLC, Delphi Automotive LLP., General Electric, TRW Automotive. NIRA Dynamics AB.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Tire Pressure Monitoring System Market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Tire Pressure Monitoring System Market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Tire Pressure Monitoring System Market positioning of competitors.
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