The global demand for Tire Sensors Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Tire Sensor refers to a tire pressure monitoring system, an electronic system used to monitor the air pressure and temperature of the tire and notifying the driver using an alarm and displaying the real time pressure and temperature on the screen. The decrease in the pressure of an automobile's time results in reduced tire life, safety, mileage, and vehicle overall performance. The significant benefit of introducing such a system is that it enhances convenience while driving and reduces the number of accidents. The use of such sensor also increases the durability of tires, fuel mileage and improve vehicle performance.
Market Dynamics
The strict impose on safety norms in developed countries and the technological advancements that allow real-time updates are fuelling the growth of the market. The growing automotive sector coupled with rising disposable income in developing countries is encouraging the demand. In addition to this, increasing health and safety awareness among consumers and rising research and development activities will bolster the market growth. However, lack of standardization and high prices is likely to restrict the market growth over the forecast period. An increase in demand for high-end luxury cars in emerging countries will create an opportunity over the forecast period.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of tire sensors. The growth and trends of tire sensors industry provide a holistic approach to this study.
Market Segmentation
This section of the tire sensors market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Technology
- Direct TPMS
- Indirect TPMS
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Sales Channel
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Tire Sensors market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Tire Sensors Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the tire sensors market include ATEQ, Bartec USA LLC, Bendix Commercial Vehicles Systems LLC, Continental AG, Denso Corporation, Dunlop Tech GmbH, Hamaton Automotive Technology Co., Ltd., Huf Hülsbeck & Fürst GmbH & Co. KG, NIRA Dynamics AB, NXP Semiconductors, Pacific Industrial Co., Ltd., Sensata Technologies, Inc., WABCO, ZF Friedrichshafen AG. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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