Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Tire Pressure Monitoring Systems (TPMS): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Tire Pressure Monitoring Systems (TPMS) estimated at US$15.1 Billion in the year 2022, is projected to reach a revised size of US$39.4 Billion by 2030, growing at a CAGR of 12.8% over the analysis period 2022-2030.
Direct, one of the segments analyzed in the report, is projected to record 13.1% CAGR and reach US$35.8 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Indirect segment is readjusted to a revised 9.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.8 Billion, While China is Forecast to Grow at 23.8% CAGR
The Tire Pressure Monitoring Systems (TPMS) market in the U.S. is estimated at US$3.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$16.4 Billion by the year 2030 trailing a CAGR of 23.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.7% and 8.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.
Select Competitors (Total 76 Featured) -
- ATEQ
- Bartec USA LLC
- Bendix Commercial Vehicles Systems LLC
- Continental AG
- DENSO Auto Parts
- Hamaton Automotive Technology Co., Ltd.
- Huf Hulsbeck & Furst GmbH & Co. KG
- NIRA Dynamics AB
- NXP Semiconductors NV
- Pacific Industrial Co., Ltd.
- Sensata Technologies, Inc.
- Wabco Holdings Inc.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 313 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $15.1 Billion |
| Forecasted Market Value (USD) by 2030 | $39.4 Billion |
| Compound Annual Growth Rate | 12.7% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- As Part of the Automotive Electronification Trend, Electronic Tires Grow in Prominence
- Against the Backdrop of Growing Penetration of Electronics in an Average Automobile, Modern Tires Today Run Not Only on Air But Also on Data: % Breakdown of the Total Cost of Electronics in an Automobile for the Years 1970, 1980, 2000, 2017, 2020 and 2030
- Tire Pressure Monitoring Systems (TPMS) - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Stringent Safety Legislations Provide Regulation-Driven Stability to Growth
- The Growing Commercial Value of Safety Technologies Encourages OEM & Aftermarket Fitment of TPMS: Global Passenger Car Safety Systems Market (In US$ Billion) for the Years 2016, 2018 and 2022
- Ever-Present Threat of Accidents Underlines the Importance of TPMS
- With Millions Continuing to Die in Preventable Road Accidents, the Focus on Automobile Safety Has Never Been Higher: Number of Deaths Caused by Road Accidents Worldwide by Region for the Years 2017 & 2030
- Growing Vehicle Population (PARC) to Drive Fitments of TPMS in the Aftermarket
- Rising Passenger Car Density Expands the Addressable Market for TPMS in the Aftermarket: Global Passenger Car Population by Type (in Million Units) for the years 2017 and 2035
- Auto Production Trends Dictates Growth in the OEM Market
- China Brings Stability to Global Automobile Production Trends
- Busy Assembly Line Especially in Asia Keeps the Automotive Supply Chain Well Oiled With New Opportunities: Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
- Falling Sensor Costs Bring the Technology to the Mainstream Market
- Special Focus on Acoustic Wave Sensors
- With the Future of all Automotive Innovations Driven by Electronics, Falling Sensor Prices Ranks as a Key Catalyst for the Proliferation of TPMS in Cars: Global Average Price of Sensors (In US$ Per Unit) for the Years 2010, 2015, 2018 and 2020
- Reliability Benefits Drive the Popularity of Direct TPMS
- Progressive Advancements in Autonomous Cars Step Up the R&D Focus on TPMS
- Efforts to Develop Safer Autonomous Cars Requires Robust Tire Information Systems: Autonomous Vehicles Worldwide in 2043 (In Million Units)
- Evolution of Mobility as a Service & the Ensuing Focus on TPMS Enabled Predictive Tire Maintenance to Benefit Market Growth
- IOT and Cloud Services Transform the TPMS Space
- Technology Innovations Remain Crucial to Future Growth
- New Generation TPMS Leverage AI Capabilities to Facilitate Real-Time Monitoring and Prevent Expensive Tire Breakdowns
- R&D Underway for TPMS Based on Bluetooth Low Energy (BLE) Communication Standards
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/5jmq44
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