About Direct Tire Pressure Monitoring System
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.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 5.1% |
Direct Tire Pressure Monitoring System is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs and preferences of consumers. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States, United Kingdom Vendors will contribute the maximum growth to Global Direct Tire Pressure Monitoring System market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 coverage are HELLA (Germany), Bartec Auto ID (United Kingdom) and DUNLOP TECH GmbH (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Direct Tire Pressure Monitoring System market by and Region.
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). If we see Market by Distribution Channel , the sub-segment i.e. OEM will boost the Direct Tire Pressure Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle , the sub-segment i.e. Light Commercial Vehicle [LCV] will boost the Direct Tire Pressure Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of HD Tire Pressure Monitoring System and Emphasizing On Development of Intelligent Tire Pressure Monitoring System
Market Growth Drivers:
Rise in Vehicle Production, Growth in the adoption of automotive safety systems and Increasing Government Regulations for Vehicle Safety
Challenges:
Lack of Awareness in the Low and Middle Income Group Countries
Restraints:
Stringent Government Regulations for Tire Pressure Monitoring System and High Cost of Direct Tire Pressure Monitoring System
Opportunities:
Growth in Automotive Sales in the Developing Economies and Rising Awareness about Maintaining Correct Tire Pressure
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.
In September 2023, Munich, Infineon Technologies AG combines its proven automotive expertise with its patented glass-silicon-glass MEMS sensor for the automotive tire pressure monitoring system (TPMS) market to launch the XENSIV™ SP49 tire pressure monitoring sensor.
“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.”
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
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.