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.
According to AMA, the Global Direct Tire Pressure Monitoring System market is expected to see growth rate of 5.1%
Research Analyst at AMA estimates 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 that are part of study coverage. Additionally, the Vendors which are also part of the research are HELLA (Germany), Bartec Auto ID (United Kingdom) and DUNLOP TECH GmbH (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Direct Tire Pressure Monitoring System market and Region with country level break-up.
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).
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.”
Market Trend
- Emergence of HD Tire Pressure Monitoring System
- Emphasizing On Development of Intelligent Tire Pressure Monitoring System
Market Drivers
- Rise in Vehicle Production
- Growth in the adoption of automotive safety systems
- Increasing Government Regulations for Vehicle Safety
Opportunities
- Growth in Automotive Sales in the Developing Economies
- Rising Awareness about Maintaining Correct Tire Pressure
Restraints
- Stringent Government Regulations for Tire Pressure Monitoring System
- High Cost of Direct Tire Pressure Monitoring System
Challenges
- Lack of Awareness in the Low and Middle Income Group Countries
Key Target Audience
Manufacturers 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