Tire Pressure Monitoring Systems Market Set to Experience 9.0% CAGR Growth Through 2023-2030
A Quick Overview of Tire Pressure Monitoring Systems Market
The key object of this report on the Tire Pressure Monitoring Systems Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.
MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the Tire Pressure Monitoring Systems Market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.
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Tire Pressure Monitoring Systems Market Scenario:
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.
Tire Pressure Monitoring Systems Market – Industry Dynamics, Size, And Opportunity Forecast To 2028:
Market 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:
Tire Pressure Monitoring Systems Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:
By Technology
- Direct Tire Pressure Monitoring System
- Indirect Tire Pressure Monitoring System
By Sales Channel
- OEMs
- Aftermarket
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Region
- North America
- South America
- Europe
- Middle East
- Africa
- Asia-Pacific.
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Who are the Key Market Players in the Tire Pressure Monitoring Systems Market?
In the fast-changing Tire Pressure Monitoring Systems Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top companies of the Tire Pressure Monitoring Systems market ruling the industry are:
List of Key Companies Profiled:
- 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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