Markntel Advisors’ report, Tire Pressure Monitoring Systems Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Tire Pressure Monitoring Systems presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Tire Pressure Monitoring Systems Market Research Report & Market Summary:

The Global Tire Pressure Monitoring Systems Market is projected to grow at a CAGR of around 9.0% during the forecast period, i.e., 2023-28. The market growth is attributed to rising safety concerns, government regulations, and the surging number of passenger & commercial vehicles. Additionally, the elevating number of luxury vehicles, increasing economic and environmental policies, shifting consumer and manufacturer preference for advanced safety features, and the need to reduce vehicular emissions and improve vehicle fuel efficiency are also aiding in market expansion.

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Tire Pressure Monitoring Systems Market Dynamics:

Key Driver-

Rising Installation of Accident Preventive Safety Systems - The continuous occurrence of automobile accidents has urged manufacturers, and consumers to adapt and improve the safety features in the vehicle to prevent damage and causality by focusing on the improvement of automotive vehicles with the installation of new safety features. This has resulted in continuous research and development into the issue and coming up with more minor, complementing designs and systems, leading to the higher installation of such sensor systems, thereby driving the industry. As a solution, TMPS provides safety by improving vehicle handling, decreasing tire wear, reducing braking distance, and better fuel economy. In addition, the concerns over the higher number of accidents occurring due to tire failures have accelerated the market growth.

Tire Pressure Monitoring Systems Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Technology

  • Direct Tire Pressure Monitoring System
  • Indirect Tire Pressure Monitoring System

Here, Direct Tire Pressure Monitoring System is expected to gain the largest market share during the forecast period, aided by the features such as delivering exact pressure for each tire, no loss of tire pressure information, sensor batteries that last the life of the vehicle mostly, and the ability to monitor spare tires.

By Sales Channel

  • OEMs
  • Aftermarket

By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

Between the two, Passenger Vehicle dominated the market with the largest market share during the historical period and is anticipated to follow the same trend in the forecast years. It is attributed to the fact that TPMS is primarily found in passenger vehicles, as tire pressure is a critical safety feature. Besides, the increase in demand for passenger vehicles in the automotive market and the affordable safety feature through tire pressure sensors add to the market growth.

By Region

  • North America
  • South America
  • Europe
  • Middle East
  • Africa
  • Asia-Pacific.

Globally, Asia-Pacific is expected to address the maximum growth in the market during the forecasting period, attributing to the adherence to strict regulatory rules concerning safety and the use of tire pressure monitoring systems in emerging nations such as China, Japan, and South Korea.

As indicated in the latest market research report published by Markntel Advisors, “Tire Pressure Monitoring Systems Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Tire Pressure Monitoring Systems industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/global-tire-pressure-monitoring-system.html

Top Companies Operating in the Tire Pressure Monitoring Systems Market:

  • Continental AG
  • Denso corporation
  • Delphi Automotive
  • Sensata Technologies
  • Dunlop Tech Gbmh
  • Wabco
  • Bendix Commercial Vehicle systems LLC
  • Schrader Electronics
  • Pacific Industrial Co., Ltd.
  • Huf and Hlsbeck & Frst Gmbh & Co.

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  • Market Dimensions & Projections
  • Pricing Evaluation,
  • Recent Strategic Moves by Companies,
  • Primary Stakeholders,
  • Analysis of Import and Export Trends,
  • Competitive Landscape Assessment,
  • Emerging Opportunities,
  • Market Trends and Indicators

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