Automotive & Transportation / Commercial Vehicle Tire Pressure Management Systems Market - Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Lear (NYSE: LEA), Sensata Technologies (NYSE: ST), NXP Semiconductors (NasdaqGS: NXPI)
Commercial Vehicle Tire Pressure Management Systems Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Lear (NYSE: LEA), Sensata Technologies (NYSE: ST), NXP Semiconductors (NasdaqGS: NXPI)
Over the next five years the Commercial Vehicle Tire Pressure Management Systemsmarket will register an 13.5% CAGR in terms of revenue, the global market size will reach USD 26.5 billion by 2027.
Commercial Vehicle Tire Pressure Management Systems Market Overview
A Commercial Vehicle Tire Pressure Management Systems is an electrical device that helps keep the tires on automobiles inflated to the proper pressure. Direct and indirect TPMS are two of the most often utilized Commercial Vehicle Tire Pressure Management Systems. The pressure in each tire is measured by a sensor installed on the wheels in a direct Commercial Vehicle Tire Pressure Management system. Indirect TPMS, on the other hand, uses speed sensors in the antilock braking system (ABS) to monitor the air pressure. Through a pictogram display, they give the driver up-to-the-minute tire pressure information and sound an alert if the tires are underinflated. In turn, this helps to increase fuel efficiency, reduce carbon emissions, and improve vehicle safety.
One of the main elements fostering a favorable outlook for the market is the significant expansion the automobile industry has experienced globally. Additionally, the growing customer preference for advanced driver-assistance systems (ADASs) for increased road safety is boosting market expansion. Other growth-promoting aspects include a number of technological developments, such as the incorporation of energy harvesting and display systems that show data on the health of the vehicle. Direct Commercial Vehicle Tire Pressure Management Systems is also becoming more popular as it uses sophisticated sensors to accurately collect pressure information from tire valves and communicate it in real time. Some of the additional factors anticipated to propel the market forward include the implementation of supportive government policies mandating the installation of Commercial Vehicle Tire Pressure Management Systems in cars to reduce the likelihood of traffic accidents and casualties, as well as significant research and development (R&D) activities.
Who are the Major Players in Commercial Vehicle Tire Pressure Management Systems Market?
The Commercial Vehicle Tire Pressure Management Systems Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market Schrader (Sensata), DENSO, Continental, TRW (ZF), Pacific Industrial, Lear, Ryder Fleet Products, Sensata Technologies, NXP Semiconductors, WABCO, Datanet, Bendix Commercial Vehicles Systemsand others.
Industry News:
Tire Service for all Classes: Continental’s TPMS Pro can now also be Used on Commercial Vehicles
March 24, 2022: According to the European Union’s General Safety Regulation, heavy commercial vehicles such as trucks and their trailers or buses must be gradually equipped with TPMS (tire pressure monitoring system) sensors, as early as July 2022 for all newly homologated vehicle models. From 2024 on, all new vehicles must be equipped with TPMS. Therefore, the technology company Continental expands its commercial vehicle servicing product range with TPMS Update Plus Transport for tire pressure monitoring and maintenance of tire pressure monitoring systems on tractor units and semitrailers.
Commercial Vehicle Tire Pressure Management Systems Market provides details by vendors, including company total revenue (financials), company overview, market potential, global presence, his business report briefly talks about market performance of each business sector covering growth factors and sales volume. this analysis provides the This Commercial Vehicle Tire Pressure Management Systems Market analysis report provides recent trends, granular level data covering market size and share. It provides all the recent updates about CORONA virus and its impact on world economy and human health. By getting this data, key players can obtain profit making and right business opportunities for future growth. Its further guides to increase the product demand and business expansion.
What are the major Applications, Types and Regions for Commercial Vehicle Tire Pressure Management Systems Market?
By Type, it is segmented into
Detecting System
Alarm System
Other
By Applications it is segmented into
Aftermarket
OEMs
Commercial Vehicle Tire Pressure Management Systems Market Regional Analysis
Due to the government regulations in the developed economies, Europe is one of the top areas in the Commercial Vehicle Tire Pressure Management Systems market, according to the regional research. Out of the other region, APAC is anticipated to develop more over the forecast period due to growing use of such systems there and a booming automotive industry there due to a rise in vehicle manufacturing. The APAC region is expected to increase at an 8.6% annual pace during the forecast period and accounts for 60% of market revenue. Commercial Vehicle Tire Pressure Management Systems are in higher demand in emerging vehicle markets including China, Japan, and South Korea. The majority of industry participants are primarily concentrating on the safety and security of the customer.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
The Commercial Vehicle Tire Pressure Management Systems Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Commercial Vehicle Tire Pressure Management Systems Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Commercial Vehicle Tire Pressure Management Systems Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 13.5% during the review period (2022 to 2027).
Yes, the report can be customized as per your needs
Key Takeaways from this Commercial Vehicle Tire Pressure Management Systems Report
Evaluate Commercial Vehicle Tire Pressure Management Systems market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Commercial Vehicle Tire Pressure Management Systems market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Commercial Vehicle Tire Pressure Management Systems Market is studied from 2017 - 2027.
What is the growth rate of Commercial Vehicle Tire Pressure Management Systems Market?
The Commercial Vehicle Tire Pressure Management Systems Market is growing at a CAGR of 13.5% over the next 5 years.
Who are the key players in Commercial Vehicle Tire Pressure Management Systems Market?
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
