Direct Tire Pressure Monitoring System Market Scope
Direct tire pressure monitoring system (TPMS) refers to the use of a pressure sensor directly mounted on the tires of a vehicle. The increasing number of accidents driving the demand for the direct tire pressure monitoring system as it increases the tire life. Further, increasing sales of automobiles and rise in demand from emerging economies and technological advancement in the direct tire pressure monitoring system expected to drive the demand for a direct tire pressure monitoring system over the forecasted period.
The market study is being classified and major geographies with country level break-up. According to AMA, the Global Direct Tire Pressure Monitoring System market is expected to see growth rate of 5.1%
Research Analyst at AMA predicts that United States, United Kingdom Vendors will contribute to the maximum growth of Global Direct Tire Pressure Monitoring System market throughout the predicted period.
Sensata Technologies Inc. (United States), Continental AG (Germany), Pacific Industrial Co. Ltd (Japan), Huf Hülsbeck & Fürst GmbH & Co. KG (Germany), ZF Friedrichshafen AG (Germany), Schrader Electronics (United Kingdom), AVE technologies (Australia), Bartec USA LLC (United States), Delphi Automotive LLP. (United Kingdom) and Bendix Commercial Vehicles Systems LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are HELLA (Germany), Bartec Auto ID (United Kingdom) and DUNLOP TECH GmbH (Germany).
AdvanceMarketAnalytics has segmented the market of Global Direct Tire Pressure Monitoring System market by Type, Application and Region.
On the basis of geography, the market of Direct Tire Pressure Monitoring System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel , the sub-segment i.e. OEM will boost the Direct Tire Pressure Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle , the sub-segment i.e. Light Commercial Vehicle [LCV] will boost the Direct Tire Pressure Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
20th May 2019, Sumitomo Rubber Industries, Ltd, a tire and rubber company entered a basic business alliance agreement with Taiwan based TPMS maker Sysgration and Japanese IoT specialist Tripod Works to enhance their direct TPMS solutions and air pressure control systems.
“According to the Federal Motor Vehicle Safety Standards installation of tire pressure monitoring systems (TPMSs) that warn the driver when a tire is significantly under-inflated is mandatory. The standard applies to passenger cars, trucks, multipurpose passenger vehicles, and buses with a gross vehicle weight rating of 10,000 pounds or less, except those vehicles with dual wheels on an axle.”
- Emergence of HD Tire Pressure Monitoring System
- Emphasizing On Development of Intelligent Tire Pressure Monitoring System
- Rise in Vehicle Production
- Growth in the adoption of automotive safety systems
- Increasing Government Regulations for Vehicle Safety
- Growth in Automotive Sales in the Developing Economies
- Rising Awareness about Maintaining Correct Tire Pressure
- Stringent Government Regulations for Tire Pressure Monitoring System
- High Cost of Direct Tire Pressure Monitoring System
- Lack of Awareness in the Low and Middle Income Group Countries
Key Target AudienceManufacturers of Direct Tire Pressure Monitoring System, Suppliers of Direct Tire Pressure Monitoring System, Traders, Distributors, and Dealers of Direct Tire Pressure Monitoring System, Industry Associations, Research and Consulting Firms, Government Agencies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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