Global Tire Pressure Monitoring Systems Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global tire pressure monitoring systems market in its upcoming report titled, “Global Tire Pressure Monitoring Systems Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global tire pressure monitoring systems market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global tire pressure monitoring systems market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global tire pressure monitoring systems market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global tire pressure monitoring systems market report has been segmented on the basis of vehicle type, technology, and region.

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A tire pressure monitoring systems (TPMS) is an electronic systems designed to monitor air pressure inside pneumatic tires. It provides real-time tire-pressure information to the driver, via either via a pictogram display, a gauge, or a simple low-pressure warning light. The TPMS low tire pressure indicator is a yellow symbol that illuminates on the dashboard instrument panel in the shape of a tire cross-section with an exclamation point. A properly maintained air pressure in the tires can help in reducing accidents caused by speed and poor condition of tires.

Stringent government regulations for use of tire pressure monitoring systems as safety norm in vehicles is key factor driving growth of the global tire pressure monitoring systems. In addition, increasing number of vehicles, and increasing safety awareness among consumers are other factors expected to fuel growth of the global pressure monitoring systems over the forecast period.

However, high price of tire pressure monitoring systems is a key factor driving growth of the global tire pressure monitoring systems. Furthermore, the potential threat of vehicle being tracked using TPMS sensors is another factor expected to hamper growth of the global tire pressure monitoring systems over the forecast period.

The market in North America accounted for highest revenue share in the global tire pressure monitoring systems market owing to increasing adoption of tire pressure monitoring systems due to mandatory rules and regulations by countries in the region. The market in Europe accounts for the second-highest revenue share contribution to the global tire pressure monitoring systems market followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness lucrative growth in terms of revenue, owing to significant increase in number of vehicles, and stringent government norms regarding use of tire pressure monitoring systems for safety in countries such as China, Japan, South Korea, and Taiwan.

Global Tire Pressure Monitoring Systems Market Segmentation:

Global tire pressure monitoring systems segmentation by of vehicle type:

• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

Global tire pressure monitoring systems segmentation by technology:

• Direct TPMS
• Indirect TPMS

Global tire pressure monitoring systems segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa