Global Tire Pressure Monitoring System (TPMS) Market 2022 Share with CAGR 9.5% by 2028 | USD 21.6 Billion - Report by Zion Market Research
Global Tire Pressure Monitoring System (TPMS) Market

Global Tire Pressure Monitoring System (TPMS) Market 2022 Share with CAGR 9.5% by 2028 | USD 21.6 Billion - Report by Zion Market Research

Market Overview

It is anticipated that the demand for the Global Tire pressure monitoring systems (TPMS) Market will produce revenue of roughly USD 21.6 billion by the end of 2025, rising at a CAGR of approximately 9.5%% between 2019 and 2025. In 2018, the market for TPMS was valued at approximately USD 11.5 billion.

The term "tire pressure monitoring system" (TPMS) refers to an electronic method for ensuring that the tires of motor vehicles have the appropriate amount of air pressure. Direct and indirect TPMS are two of the most prevalent types of this type of monitoring systems. The Direct TPMS system monitors the tire pressure by way of a sensor that is attached to the rim of each wheel.

Indirect tire pressure monitoring systems, on the other hand, use the speed sensors from the antilock braking system (ABS) to monitor the tire pressure. They show a pictogram to the driver, who can get real-time information about the pressure in the tires via the display, and they make an alarm go off if the tires are not inflated properly. This, in turn, contributes to improvements in vehicle safety as well as fuel economy and the reduction of carbon emissions.

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Global demand for tire pressure monitoring system (TPMS) market was valued at approximately USD 11.5 billion in 2018 and is expected to generate revenue of around USD 21.6 billion by end of 2025, growing at a CAGR of around 9.5% % between 2019 and 2025.
Global Tire Pressure Monitoring System (TPMS) Market

One of the most important aspects that are producing a good outlook for the market is the significant increase that is occurring in the automobile industry all over the world. In addition, the growing demand among customers for advanced driver-assistance systems, also known as ADAS, to improve their level of protection while driving is a major factor propelling the expansion of the market.

Other growth-inducing variables include various technology improvements, such as the incorporation of energy harvesting and display systems to convey information about the state of the vehicle's health.

Additionally, there is a growing desire for direct TPMS due to the fact that it utilizes modern sensors to collect accurate pressure information from the tire valves and transmits the information in real-time.

Other factors, such as the implementation of favorable government policies mandating the installation of tire pressure monitoring systems (TPMS) in automobiles to minimize the instances of road accidents and casualties, as well as extensive research and development (R&D) activities, are some of the other factors that are anticipated to drive the market even further.

Key Market Segmentation:

  • Based on Vehicle Type Segment Analysis - Passenger Vehicle, Commercial Vehicle
  • Based on Sales Channels Segment Analysis - Original Equipment Manufacturer (OEM), Aftermarket

Based on Regional Analysis of Market Report:

  • North America ( United States)
  • Europe ( Germany, France, UK)
  • Asia-Pacific ( China, Japan, India)
  • Latin America ( Brazil)
  • The Middle East & Africa

Competitive Landscape:

大陆集团 | ZF Friedrichshafen AG | Pacific Industrial Company . | NIRA Dynamics AB | DENSO | Valor TPMS | HUF HULSBECK & FURST GMBH & CO KG | 森萨塔科技 | DUNLOP TECH GmbH | 恩智浦半导体 | Bendix Commercial Vehicle Systems LLC | Bartec TPMS | Hamaton Automotive Technology Co.,Ltd. | 威伯科 | ATEQ Group

FREQUENTLY ASKED QUESTIONS?

Q1. What are the applications of the Global Tire Pressure Monitoring System (TPMS) Market?

Q2. Who are the potential customers of the Global Tire Pressure Monitoring System (TPMS) Market?

Q3. How can I get a report sample of the Global Tire Pressure Monitoring System (TPMS) Market?

Q4. What are the key trends in the Global Tire Pressure Monitoring System (TPMS) Market?

Q5. Who are the leading players in the Global Tire Pressure Monitoring System (TPMS) Market?

Q6. How can I get statistical data on top market players in the Global Tire Pressure Monitoring System (TPMS) Market?

Q7. Which segment holds the maximum share of the Global Tire Pressure Monitoring System (TPMS) Market?

Q8. What is the total market value of the Global Tire Pressure Monitoring System (TPMS) Market?

Q9. What is the CAGR of the Global Tire Pressure Monitoring System (TPMS) Market?

Q10. Which region will provide more business opportunities for the Global Tire Pressure Monitoring System (TPMS) Market in the coming years?

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