Tire Pressure Monitoring Systems Market Geographical Breakdown: Which Area is Leading the Market?

How Big is the Tire Pressure Monitoring Systems Market?

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.

Market Statistics

Market Growth Rate (CAGR): 9.0% from 2023-2028

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Tire Pressure Monitoring Systems Market Insight:

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:

The report has segmented the market 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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Competitive Landscape:

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.

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key Highlights of the Report:

Market Performance (2023-2028)
Strategic Recommendations
Current, Historical and Future Market Trends
Market Drivers and Leading Competitor
SWOT Analysis
Structure of the Market
Comprehensive Mapping and Recent Advancement

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