TPMS is an electronic system, designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. TPMS warns the driver about the number of underinflated tires. TPMS is classified into two categories: direct TPMS and indirect TPMS. Direct TPMS provides real-time information of the tire pressure using pressure monitoring sensors in the tires. As a result, automotive manufacturers are shifting their focus on the usage of direct TPMS sensors to improve the safety of the consumers.
The main factors driving the demand for automotive TPMS are strict safety norms, increasing health and safety awareness among consumers, technology advancement and high disposable income. Agencies such as New Car Assessment Program (NCAP) are also encouraging manufacturers by awarding safety ratings to cars based on safety performance. Growth in automotive safety systems market such as TPMS is largely driven by strict legislation and norms related to safety. Safety systems such as TPMS is obligatory in developed countries, while legislation in developing countries are creating higher growth opportunities.Although the overall automotive active safety systems market is growing significantly, challenges such as lack of standardization and high prices of TPMS is hindering the growth for TPMS market.Test conducted by one of the leading tire and rubber company have shown that almost 15% under-inflation tires can result an 8% drop in expected tire life and 2.5% decrease in fuel efficiency.
The global TPMS market is expected to register healthy CAGR during the forecast period. North America is the largest market for TPMS followed by Europe and Asia Pacific. Increasing demand for luxury vehicles in regions like Europe and Asia Pacific, mainly in developing economies such as China and India is driving the TPMS market. Factors such as adoption of safety regulations by government agencies along with an increase in vehicle sales and safety installations per vehicle, are fuelling the demand for automotive TPMS globally.
The global Tire Pressure Monitoring System (TPMS) market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Tire Pressure Monitoring System (TPMS) volume and value at global level, regional level and company level. From a global perspective, this report represents overall Tire Pressure Monitoring System (TPMS) market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan
Key companies profiled in Tire Pressure Monitoring System (TPMS) Market report are Schrader, Pacific Industrial, Lear, Visteon, Denso, Huf Hülsbeck & Fürst, ACDelco, Sate Auto Electronic and more in term of company basic information, Product Introduction, Application, Specification, Production, Revenue, Price and Gross Margin (2014-2019), etc.
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Table of Content
1 Tire Pressure Monitoring System (TPMS) Market Overview
2 Global Tire Pressure Monitoring System (TPMS) Market Competition by Manufacturers
3 Global Tire Pressure Monitoring System (TPMS) Production Market Share by Regions
4 Global Tire Pressure Monitoring System (TPMS) Consumption by Regions
5 Global Tire Pressure Monitoring System (TPMS) Production, Revenue, Price Trend by Type
6 Global Tire Pressure Monitoring System (TPMS) Market Analysis by Applications
7 Company Profiles and Key Figures in Tire Pressure Monitoring System (TPMS) Business
8 Tire Pressure Monitoring System (TPMS) Manufacturing Cost Analysis
9 Marketing Channel, Distributors and Customers
10 Market Dynamics
11 Global Tire Pressure Monitoring System (TPMS) Market Forecast
12 Research Findings and Conclusion
13 Methodology and Data Source