Impact of COVID-19 Outbreak on Tire Pressure Monitoring Systems Market 2022

Tire Pressure Monitoring Systems Market 2022

According to the analysis, direct TPMS will dominate the market and account for more than 95% of market value. By the conclusion of the projected period, a CAGR (Value) of 9.3% is anticipated (2018 – 2026). The global TPMS market is now anticipated to be worth more than US$ 11,651.2 Mn in 2018, and by the end of 2026, it is expected to grow at a CAGR of 9.2% to reach US$ 23,620.5 Mn.

Persistence Market Research digs deep into the global TPMS market and fetches key information through structured market research in the report titled "TPMS Market Global Industry Analysis 2013–2017 and Forecast 2018–2026" which studies the market and predicts future demographics and changes.

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Key Players:

The report has profiled some of the Important players prevalent in the global like – ZF Friedrichshafen AG, Continental AG, Sensata Technologies, Inc., Denso Corporation, Pacific Industrial Co., Ltd., NXP Semiconductors, WABCO, Huf Hülsbeck & Fürst GmbH & Co. KG, NIRA Dynamics AB, Bendix Commercial Vehicles Systems LLC, Dunlop Tech GmbH, Hamaton Automotive Technology Co., Ltd., Bartec USA LLC and ATEQ and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Tire Pressure Monitoring Systems.

Global TPMS Market Dynamics

The global TPMS market is estimated to be driven by the increasing production of vehicles across the globe. Healthy growth in the automotive industry will also be a prime factor supplementing market growth. Growing regulations that mandate the installation of TPMS in developed regions, such as North America, Europe and China, will act as a catalyst in the overall growth of the TPMS market. Moreover, increasing adoption of automotive safety systems is the key factor driving the growth of the tire pressure monitoring systems (TPMS) market over the forecast period. Furthermore, increasing demand for direct tire pressure monitoring systems (TPMS) from dedicated automotive OEMs will also give traction to the growth of the TPMS market in the coming decade.

On the other hand, one of the major challenges faced by TPMS manufacturers is that TPMS sensors help in tracking vehicles, which is also expected to hinder the growth of the TPMS market in near future. Moreover, inaccurate results of indirect TPMS will also act as a restraining factor for the growth of the market. Leading players in the market are observed to use research & development as a major part of their strategy to launch new and innovative products.

Global TPMS Market Forecast

Market insights suggests that the overall width of the global TPMS market will expand during the forecast period. Several positive changes are expected to fuel the growth of the market. The market is relatively small and each portion has a crucial role to play. By type, the direct type segment will play a pivotal role in building market revenue and is expected to occupy a major share of the market. The report hints that the passenger car segment, by vehicle type, will account for a value share of 80.0% in the global TPMS market by 2018. Amongst the major markets, North America will show promising results during the forecast period. The region is estimated to hold 42.2% market value share in 2018 and the market will expand at a CAGR of 8.5% during the stipulated time period. The sales revenue of Europe will reach US$ 8,162.4 Mn by the end of 2026 while growing at a CAGR of 9.6%. The markets globally will remain fertile and vibrant during the forecast period.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):

North America (U.S., Canada, Mexico)

Europe (Germany, U.K., France, Italy, Russia, Spain etc.)

Asia-Pacific (China, India, Japan, Southeast Asia etc.)

South America (Brazil, Argentina etc.)

Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders

Tire Pressure Monitoring Systems Market Manufacturers

Tire Pressure Monitoring Systems Market Distributors/Traders/Wholesalers

Tire Pressure Monitoring Systems Market Subcomponent Manufacturers

Industry Association

Downstream Vendors

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Key Questions Answered in This Report.

• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
• What are sales, revenue, and price analysis by regions of industry?

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