Global Tire Pressure Monitoring Systems Market, By Type (Direct, Indirect), End-User (OEM, Aftermarket), Vehicles (Passenger, Commercial), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2025
Market Analysis: Global Tire Pressure Monitoring Systems Market
The global tire pressure monitoring systems market is set to rise from its initial estimated value of USD 10.5 billion in 2017 to an estimated value of USD 21.7 billion by 2025 while registering a CAGR of 9.5% in the forecast period of 2018-2025. Government regulations regarding the use of tire pressure monitoring systems in vehicles is driving the market growth. Increased global sales of vehicles are also a key factor in the market growth.
Market Definition: Global Tire Pressure Monitoring Systems Market
Tire pressure monitoring system is an electronic diagnostic system installed inside tires to measure air pressure of the tires. These systems provide live information to the driver of the vehicle, via a dashboard indicator. These systems monitor the tire pressure, which help in maintaining the handling of the vehicle reduce the wear and tear of the tires and help in increase the economy of the vehicles.
Europe had the biggest market share of 37.1% in 2017. Regulations in the region regarding the tire pressure monitoring systems is also set to increase the share of the market in the forecast period.
- Improved regulations regarding the safety concerns of the vehicle have increased the demand for the system in the original equipment manufacturer sector which is driving the market growth
- Rise in sales of vehicles globally has also resulted in the market growth as the regulations set out by the authorities induce the manufacturers to install tire pressure monitoring systems market in the vehicles
- High cost of Tire Pressure Monitoring Systems has restricted the aftermarket demand of these products and this factor is restraining the market growth
- Potential chances of vehicle tracking through the tire pressure monitoring systems is a high possibility, and this factor is restricting the market growth
Segmentation: Global Tire Pressure Monitoring Systems Market
- By Type
- Direct Tire Pressure Monitoring Systems
- Indirect Tire Pressure Monitoring Systems
- By End-User
- Original Equipment Manufacturers (OEM)
- By Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Competitive Analysis: Global Tire Pressure Monitoring Systems Market
The global tire pressure monitoring systems market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of tire pressure monitoring systems market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Tire Pressure Monitoring Systems Market
Few of the major market competitors in the Tire Pressure Monitoring Systems market are ZF Friedrichshafen AG, Continental AG, Sensata Technologies Inc., DENSO CORPORATION, Pacific Industrial Co. Ltd., NXP Semiconductors, WABCO, Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, Knorr-Bremse AG, DUNLOP TECH GmbH, HAMATON AUTOMOTIVE TECHNOLOGY CO. LTD, Bartec USA LLC, ATEQ TPMS, Infineon Technologies AG, Garmin Ltd., ALLIGATOR Ventilfabrik GmbH, PressurePro, ALPS ELECTRIC CO. LTD., Aptiv, Dill Air Controls Products, Doran Manufacturing LLC., HELLA GmbH & Co. KGaA, OMRON Corporation, Valeo, Valor, GENERAL ELECTRIC, CUB ELECPARTS INC., E-LEAD ELECTRONIC CO. LTD., and STEELMATE.
Research Methodology: Global Tire Pressure Monitoring Systems Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved