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Automotive Tyre Pressure Monitoring System (TPMS) Market 2021-2024 Covid 19 Impact on Top countries data,Industry Size, Share, Future Challenges, Revenue, Demand, Industry Growth and Top Players Analysis and forecast
Posted on Dec 18 2020 7:02 AM
"COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The Automotive Tyre Pressure Monitoring System (TPMS) Market is expected to register a CAGR of 15.23%, during 2020-2024.
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Global ' Automotive Tyre Pressure Monitoring System (TPMS) Market Report 2020 Provides Complete company profiles covering the product offerings, key financial information, current developments, SWOT analysis and strategies employed by the major Automotive Tyre Pressure Monitoring System (TPMS) market players. Also Provides Industry position and viewpoint of main regions based on major key players, country, product types, and end industries Automotive Tyre Pressure Monitoring System (TPMS) Market reports offer a detailed assessment of the Automotive Tyre Pressure Monitoring System (TPMS) including enabling technologies, current market situation, market assumptions, restraining factors.
Automotive Tyre Pressure Monitoring System (TPMS) Market Report Segmented by Regions : North America, Europe, Asia-Pacific (APAC), Middle East and Africa, Rest of World (ROW). This XYZ market research report focuses on the Key Manufacturers Profiles in Detail with Granular Analysis of the Market Share, Production Technology, Market Entry Strategies, Revenue Forecasts and Regional Analysis of the Market.
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The market is expected to grow at a CAGR of 15.23% during the forecast period. North America was the largest market in 2017, accounting for a share of over 39%, followed by the European countries and Asia-Pacific countries. TPMS is an electronic system designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. In addition, TPMS warns the driver about the number of tires that are underinflated. The increasing demand from emerging markets such as India and China as a result of the rising demand for automobiles (especially luxury vehicles) and new TPMS regulations in China and South Korea will also positively affect the growth of the market.
In terms of technology, TPMS is classified into two categories: direct TPMS and indirect TPMS. Direct TPMS provides real-time information on the tire pressure by using pressure monitoring sensors in the tires. As a result, automobile manufacturers are shifting their focus to the use of direct TPMS sensors to improve safety of consumers. The demand for and adoption of direct TPMS is constantly increasing among consumers because of the ease provided by these systems; i.e., automatically resetting as and when tires are inflated or rotated (with the presence of pressure sensors). Indirect TPMS do not use any physical pressure sensors unlike direct TPMS but measure air pressure by monitoring individual wheel rotational speeds and other signals available outside the tire.
Rising safety concerns to promote growth
Tire blowouts because of underinflated and overinflated tires result in accidents and human fatalities. The rising concern for passenger and automobile safety has compelled governments across the world to implement safety regulations such as TPMS (for instance, the TREAD Act by the US Congress). In addition, the high number of accidents occurring worldwide because of tire failures has increased the need for advanced safety systems such as TPMS in automobiles. Appropriately inflated tires also improve the fuel efficiency of the vehicle. Governments across the world are taking initiatives to introduce TPMS in as many applications as possible to increase fuel efficiency (and hence, reduce carbon emissions).
Technical restrictions still holding the market
However, functional errors as a result of the failure of electronic sensors, use of defective sensors and battery failure result in the failure of TPMS, resulting in accidents. For instance, unexpected turning off of the ignition disables the engine and thus the TPMS system. These functionality errors deter consumers from placing faith in such types of new technology. Awareness of TPMS among consumers has been low in the past, and the only installations have been in OEM-fitted vehicles. This is the reason why the TPMS aftermarket has not seen much growth in the past years. However, with the growing safety concerns among consumers in the emerging markets, the demand for entry-level vehicles equipped with safety features is increasing, thereby boosting the demand for electronic TPMS and TPMS sensors.
The market is segmented by type, end-user segment, vehicle type, and geography.
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Here is the Top-List of Key-players of Automotive Tyre Pressure Monitoring System (TPMS) Market 2020:-
- Dill Air Control Products
- Freescale Semiconductor
- Doran Manufacturing Llc
- Hella
- Huf Electronics Bretten Gmbh
- Omron Corporation
- ZF Trw
- Valor TPMS
- Schrader Electronic
- Continental
- Pacific Industrial
- Denso
- Alligator Ventilfabrik Gmbh
- Alps Electric
- Bartec
- Bendix
The report focuses on the global market, especially in the United States, Europe, China, Japan, South Korea, North America, and India.
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Also, the Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.
The Global Automotive Tyre Pressure Monitoring System (TPMS) market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The global Automotive Tyre Pressure Monitoring System (TPMS) market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Highlighted points of Automotive Tyre Pressure Monitoring System (TPMS) Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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Key Developments in the Automotive Tyre Pressure Monitoring System (TPMS) Market:
- January 2018: Garmin launched its GTP400KIT as an aftermarket TPMS fitment.
- November 2017: Continental Automotive showcased its latest range of TPMS which uses high-frequency signal to send coded information to the receiver.
Reasons to Purchase this Report:
- The report analyses how the increasing government regulations will drive the global automotive tire pressure monitoring system market.
- Analyzing various perspectives of the market with the help of Porter's five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
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Finally, the report Global Automotive Tyre Pressure Monitoring System (TPMS) Market 2020 describes the Automotive Tyre Pressure Monitoring System (TPMS) industry expansion game plan, the Automotive Tyre Pressure Monitoring System (TPMS) industry knowledge supply, appendix, analysis findings, and the conclusion.
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