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Allied Market Research

Automotive Tire Mounted Sensor Market by Type (Direct and Indirect), by Sensor Type (Temperature, Gas, Pressure, and Motion), by Vehicle Type (Passenger Vehicle, Commercial Vehicle, and Electric Vehicle), and by Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2027

A09138
Pages: NA
Dec 2020 | 19 Views
 
Author(s) : NA
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Automotive Tire Mounted Sensor Market Outlook – 2027 

With technological advancements in the automotive sector, customer focus has been shifted toward more advanced safety features in vehicles. Automakers are paying high attention on tires because it has a big influence on driving safety. The sensors mounted on tires provides real-time information of the wheel to the driver. Introduction of IoT has enhanced the importance of tire sensors as it enables that provide useful information like traction, tread wear, temperature, load, pressure, deformation, wheel loading, friction on a device. Moreover, installation of sensors in tires act as a preventive maintenance tool and thereby increases the durability of tires.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

 Segments covered

  Type, sensor type, vehicle type, sales channel

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

  Companies covered

Schrader, Siemens, TRW, Pacific, Lear, Continental, ZF TRW, Pacific Industrial, Denso, and Huf.

 

COVID-19 scenario analysis: 

  • The financial market has disrupted totally due to coronavirus pandemic. 
  • The halt in production of vehicles industries has impacted heavily automated tire mounted sensor industries. Although this won’t affect the aftermarket sales of the automotive tire mounted sensor.
  • Further, transportation restrictions and stringent government policies are causing a downturn in the growth scale of the automotive tire mounted sensor market.
  • However, the advanced safety offered by various sensors installed in tire will help the automotive tire mounted sensor market even in the pandemic situation.

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

The improved fuel efficiency along with enhanced tire life offered by tire mounted sensor is the major driving factor of the market. Additionally, tire mounted sensors efficiently inform driver about real-time condition of tires and consequently aids in improving ride quality and vehicle handling. Besides, with the upsurge in market of connected cars, the utilization of tire mounted sensors will escalate in vehicle. However, high prices of tire mounted sensors will hamper the market growth. Furthermore, technological advancement and growing demand for autonomous vehicles are expected to enhance the market progression.

The Automotive tire mounted sensor market trends are as follows:

Technological developments to nurture the market growth

Automakers are heavily investing in R&D of autonomous vehicles. Moreover, Internet of things has contributed enormously in the automotive sector. With the integration of tire mounted sensors and IoT, the information of tire can be controlled remotely through an application in mobile. Additionally, IoT-based platform has helped the fleet management services significantly. Besides, the manufacturers are focusing on making compact design for sensors. For instance, IntelliSens sensors by Huf Hülsbeck & Fürst GmbH & Co. KG, has designed compact design of sensors which reduces the housing and thus significantly the weight of the sensor, further aiding the sensor in efficient-working.

Surge in usage of tire pressure monitoring system in cars

Industrialization has paved its way for the rise in number of vehicles & income of people. The living standards of people have bettered in developed economies. This has led to increase in sales and production of luxury cars. TPMS being fitted in majority of luxury cars, the demand for its market has also grown simultaneously. Many manufacturers have adopted TPMS system in their cars considering consumer demand. Looking at the aftermarket sales of TPMS, economy car manufacturers would also want to equip this system in near future. 

Key segments covered:

Segments

Sub-segments

  Type

  • Direct
  • Indirect

  Sensor type

  • Temperature
  • Gas
  • Pressure
  • Motion

  Vehicle type

  • Passenger vehicle
  • Commercial vehicle
  • Electric vehicle

  Sales channel

  • OEM
  • Aftermarket

 

Key benefits of the report:

  • This study presents the analytical depiction of the automotive tire mounted sensor industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the automotive tire mounted sensor market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the automotive tire mounted sensor market research report:

  • What are the leading market players active in the Automotive tire mounted sensor market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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