Tire pressure monitoring systems include pressure sensors that monitor the vehicle’s tire pressure. These sensors are active safety systems. As the name indicates, the pressure monitoring systems provide real-time information on air pressure level of tires. The systems display real-time tire pressure in the form of pictograms.
European Union made mandatory, the installation of tire pressure monitoring systems from 2012 for all the new vehicles. This measure is envisioned to improve vehicle safety and reduce CO2 emissions. The maximum fuel efficiency is achieved when the tire is correctly inflated tires delivering maximum fuel efficiency. Tire pressure monitoring system became mandatory for vehicle safety and protection of the environment in 2012.
The MarkNtel Advisors’ research report on “Global Tire Pressure Monitoring System Industry Analysis, 2019”, the CAGR is estimated to be around 9% during 2020-25 due to the growing focus towards road safety. Asia-Pacific region is growing at a robust rate on account of the rising demand for high-end luxury cars. Also, certain key players operating in middle income and upper middle-income group has already introduced a tire pressure monitoring system as a key differentiator and improving customer experience. However, North America and Europe are the global leader in the sales and installation of tire pressure monitoring systems in vehicles.
With the increasing concerns about passenger safety, the OEMs are taking initiative for the installation of various safety driving systems such as anti-lock braking systems, driver traction control, tire pressure monitoring and, navigation systems. Thus, the demand for pressure monitoring systems is projected to surge during 2020-25.
The passenger car segment dominated the market by the highest share due to a rise in the production of high-end cars. Cars formed more than 70% market share in global auto sales, with a growing composition of upper middle income and high-end cars. This swelling luxury car fleet is expected to drive the global TPMS market.
China has a comparatively larger market share in the global production of TPMS owing to the presence of manufacturers such as Shanghai Baolong Automotive, Schrader and Continental. OEMs are merging or acquiring different businesses due to make advancements in the product. In 2019, Shanghai Baolong Automotive Corporation and Huf Hülsbeck & Fürst GmbH & Co. KG entered into a joint venture BH SENS and launched universal sensors for bus and trucks. With IntelliSens UVS01HD offers tire pressure monitoring for commercial vehicles. The technology includes other sensor manufacturer applications on all Mercedes Benz trucks and buses. Moreover, Maruti Suzuki now offers tire pressure monitoring systems in its economy vehicle models such as Swift, Dzire and Vitara, Brezza in the aftermarket. Maruti dealers fit tire pressure monitoring systems in all the cars sold by the company.
According to MarkNtel Advisors’ research report on “Global Tire Pressure Monitoring System Industry Analysis, 2019”, the major leaders in the market of tire pressure monitoring systems are Continental AG, Denso Corporation, Delphi Automotive, Sensata Technologies, Dunlop Tech Gbmh, Wabco, Bendix Commercial Vehicle Systems LLC, Schrader Electronics, Pacific Industrial Co., Ltd., Huf, and Hlsbeck & Frst Gmbh & Co.
“Global Tire Pressure Monitoring System Industry Analysis, 2019”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive ventilation seats providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
Industry Segmentation:
1. By Vehicle Type (Passenger cars and Commercial vehicles)
2. By Technology (Direct Pressure monitoring and Indirect Pressure Monitoring)
3. By Sales Channel (OEMs and Aftermarket)
4. By Regions (North America, Latin America, Europe, Middle East and, Asia-Pacific)
5. By Countries (US, Canada, Mexico, Brazil, Spain, France, Germany, Italy, United Kingdom, Saudi Arabia, UAE, South Africa China, India, Japan, South Korea, Australia and New Zealand)
6. By Competitors (Continental AG, Denso corporation, Delphi Automotive, Sensata Technologies, Dunlop Tech Gbmh, Wabco, Bendix Commercial Vehicle systems LLC, Schrader Electronics, Pacific Industrial Co., Ltd., Huf and Hlsbeck & Frst Gmbh & Co.)
Key questions answered in the study:
1. What are the current and future trends of the global tire pressure monitoring systems market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global tire pressure monitoring systems industry?
6. What are the customer orientation, purchase behavior, and expectations from global tire pressure monitoring systems suppliers across various regions?
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