PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1389753
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1389753
Tire Pressure Monitoring System (TPMS) Market Introduction and Overview
According to SPER Market Research, 'Tire Pressure Monitoring System Market Size- By Type, By Sales Channel, By Vehicle Type, By Propulsion - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Global Tire Pressure Monitoring System Market is predicted to reach USD 9.40 billion by 2033 with a CAGR of 10.51%.
A tire pressure monitoring system (TPMS) is an electrical device that monitors tire air pressure. By using the light-illuminating feature of the TPMS, the driver is alerted of high or low tire pressure. In recent years, the market for tires that improve fuel efficiency has expanded. To increase traction, safety, and mileage, tire producers have therefore concentrated on enhancing currently available technologies. Maintaining tire pressure is essential for safe driving, extending tire life, and optimizing fuel efficiency.
Global governments were driven by the COVID-19 pandemic to impose strict lockdowns and prohibit the import or export of goods needed for raw materials for the majority of 2020 and a few months of 2021. The supply of essential raw materials for auto parts consequently fell off a cliff. Auto sales and output suffered as a result of the COVID-19 pandemic's severe disruption of supply chains and manufacturing schedules. As a result, in 2020, the market share of tire pressure monitoring devices decreased.
Scope of the Report:
Report Metric Details
Market size available for years 2019-2033
Base year considered 2022
Forecast period 2023-2033
Segments covered By Type, By Sales Channel, By Vehicle Type, By Propulsion
Regions covered North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
Companies Covered Huf Hulsbeck & Furst GmbH & Co. KG, Pacific Industrial Co. Ltd., Hitachi Automotive Ltd, Renesas Electronics Corporation, HAMATON, Delphi Automotive LLP, ZF Friedrichshafen AG, InnoTechRV, The Goodyear Tire & Rubber Company.
Automotive TPMS Market Segmentation:
By Type: Based on the Type, Global Tire Pressure Monitoring System Market is segmented as; Direct Tire Pressure Monitoring System, Indirect Tire Pressure Monitoring System.
By Sales Channel: Based on the Sales Channel, Global Tire Pressure Monitoring System Market is segmented as; Aftermarket, OEM.
By Vehicle Type: Based on the Vehicle Type, Global Tire Pressure Monitoring System Market is segmented as; Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles.
By Propulsion: Based on the Propulsion, Global Tire Pressure Monitoring System Market is segmented as; Alternate fuel Vehicle, Electric and Hybrid, ICE.