Global Tire Pressure Monitoring System report from Global Insight Services is the single authoritative source of intelligence on Tire Pressure Monitoring System market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A tire pressure monitoring system (TPMS) is an electronic system designed to monitor the air pressure inside the pneumatic tires on various types of vehicles. TPMS typically uses wireless technology to transmit tire pressure readings to a receiver located inside the vehicle, and it may also include visual and/or audible alerts to notify the driver when a tire’s inflation pressure is low.
There are two types of TPMS systems: direct and indirect. Direct TPMS uses sensors mounted inside the tires to measure air pressure, while indirect TPMS monitors air pressure indirectly using the vehicle’s anti-lock braking system (ABS) or wheel speed sensors.
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Market Segments
The Tire Pressure Monitoring System Market is segmented on the technology, vehicle type, sales channel, and region. Based on technology, the market is divided into direct TPMS and indirect TPMS. On the basis of vehicle type, it is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Based on the sales channel, the market is classified into OEM and aftermarket. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Tire Pressure Monitoring System Market report includes players such as Continental AG, ZF Friedrichshafen AG, DENSO Corporation, Mobileye, Aptiv Plc, Veoneer Inc., Autoliv Inc., Valeo SA, Magna International, Aisin Seiki Co., Ltd. and Panasonic Corporation.
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Key Drivers
The key drivers of Tire Pressure Monitoring System market are as follows:
1. Increasing vehicle safety concerns: With the increasing number of road accidents and fatalities, there is a growing need for vehicle safety features such as TPMS. This is expected to drive the growth of the TPMS market.
2. Stringent government regulations: Government regulations mandating the installation of TPMS in vehicles are expected to fuel the growth of the TPMS market.
3. Technological advancements: The development of advanced TPMS systems with features such as real-time monitoring and wireless connectivity is expected to drive the growth of the TPMS market.
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