In accordance with this study, the Global Tire Pressure Monitoring System Market value registered in 2021 was close to USD XX BN and is predicted to outstretch revenue by USD XX BN in 2028 with a CAGR of XX% during the period of 2022-2028.
Tire pressure monitoring system (TPMS) is a device used to control real-time tire pressure and temperature as well as air pressure inside the inflated tires on several types of vehicles. Wireless TPMS consists of a display unit and sensors and provides real-time information to alert the driver in case of a flat tire so that preventive actions could be taken.
The increasing adoption of automotive safety system such as TPMS as it reduces the chances of accidents is driving the market growth. Furthermore, the increasing advent of technology and the growing automotive industry owing to rising disposable income is boosting the market growth. However, lack of standardization and high cost associated with TPMS hinder the market growth.
The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity. These tools also serve the detailed information of each application/product segment in the global market of tire pressure monitoring system.
The study offers a decisive view of the global tire pressure monitoring system market by segmenting it in terms of vehicle type, technology, and channel type. The report analyzes these subsets with respect to the regional segmentation. This research study will prepare marketers for the evolving needs of their customers.
By Vehicle Type
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
- Passenger Vehicle
By Channel Type
- Direct TPMS
- Indirect TPMS
This section covers tire pressure monitoring system market for the regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Regional segmentation has been done based on the present and future trends in the global tire pressure monitoring system market along with the individual application segment across all the prominent region.
Global Tire Pressure Monitoring System Market Share by Region (Representative Graph)
This research report also includes profiles of major companies operating in the global market. Some of the prominent players operating in the global tire pressure monitoring system market are AVE Technologies, BARTEC US Corp, General Electric Company, Schrader International Inc., ZF TRW Automotive Holdings Corp., and others. This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.
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