Registering a CAGR of 7.1% over the forecast period, The Tyre Pressure Monitoring System (TPMS) market value of TPMS market over the forecast period 2022 to 2027.
The TPMS is an electronic system which is used to monitor the temperature and air pressure for the vehicle’s tire and display the real-time temperature and pressure on the screen. This gives an alert to the driver regarding the change in the pressure on the tire of the vehicle. Some of the major factors which are related to the reduction of pressure of vehicle are vehicle performance, safety, mileage and decreased tire life. The device like TPMS has helped in reducing the number of accidents along with helping in increasing the fuel milage, durability of tires and better handling of vehicle by the driver. The batteries used in TPMS can last from 6 to 10 years. Because of pandemic, the market saw a decrease in the manufacturing of the device. However, now the market is coming back to normal and hence it is expected that the demand will be higher again in the future. The TPMS market was halted for a while but now numerous governments have given leverage for the import-export trades.
The global Tyre Pressure Monitoring System (TPMS) market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Schrader (Sensata), Continental, Baolong Automotive, Steelmate, DIAS, Shenzhen Autotech, Pacific Industrial, Topsystem, Nanjing Top Sun, Sata Auto, CUB Elecparts, Orange Electronic, and others.
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Due to the Pandemic, the supply-chain problems were complicating their businesses, by a freak weather, pore blockages and the continued impact of Covid-19 combine to disrupt global supply chains of Parts and Components in Regular, Electric and Hydrogen Vehicles Toyota Motor Corp., Honda Motor Co. and Samsung Electronics Companies said Sources. Ford warned that the chip shortage alone could reduce earnings by $1 billion to $2.5 billion this year. General Motors put its number at $2 billion. While Honda didn't put out a dollar figure, it warned last month that it expects to sell about 100,000 fewer vehicles worldwide this year solely because of the chip shortages. Google and Ford are teaming up in an alliance to meet “reinvent” virtually The Android-based operating system while, will be able to monitor a vehicle once it’s out on the road, warning owners if there’s a mechanical problem developing — while also advising them if it’s time for service, even automatically setting up a dealer appointment.
Sensata Technologies Promotes Electrification Approach with Acquisition of Spear Power Systems
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Tyre Pressure Monitoring System (TPMS) market is segmented based on the type, applications, companies and regions.
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Application-
The report offers in-depth assessment of the growth and other aspects of the Automotive Actuator market in important regions, including the global growth aspects.
As per the regional analysis, Europe is one of the leading regions in the Tire Pressure Monitoring System market owing to the government rules in the developed economies. Out of the other region, APAC is expected to grow more during the forecast period as the adoption of such systems has increased in this region and the automotive sector is booming in this region as the production of automobiles is increasing rapidly. The 60% revenue in the market is generated by the APAC region and is projected to grow at 8.6% in the forecast period. There is an increased demand for the Tire Pressure Monitoring System in automobile developing economies such as China, Japan, and South Korea. Most of the industry players are majorly focusing on the safety and security of the consumer.
Report Attributes | Report Details |
Report Title | Tyre Pressure Monitoring System (TPMS) Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players - Schrader (Sensata), Continental, Baolong Automotive, Steelmate |
Forecast Period 2022 to 2027 CAGR | CAGR of 7.1 % over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Schrader (Sensata), Continental, Baolong Automotive, Steelmate, DIAS, Shenzhen Autotech, Pacific Industrial, Topsystem, Nanjing Top Sun, Sata Auto, CUB Elecparts, Orange Electronic |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 122 |
Customization Available | Yes, the report can be customized as per your needs |
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Who are the key players in Tyre Pressure Monitoring System (TPMS) Market?
Schrader (Sensata), Continental, Baolong Automotive, Steelmate, DIAS, Shenzhen Autotech, Pacific Industrial, Topsystem, Nanjing Top Sun, Sata Auto, CUB Elecparts, Orange Electronic
What regions does this Tyre Pressure Monitoring System (TPMS) Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Tyre Pressure Monitoring System (TPMS) Market?
Direct TPMS, Indirect TPMS
What are the major end-use applications of the Tyre Pressure Monitoring System (TPMS) Market?
OEM, Aftermarket, Other
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