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Direct Tire Pressure Monitoring System Market by Technology (Conventional Tire Pressure Monitoring System and Intelligent Tire Pressure Monitoring System), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Sales Channel (Original Equipment Manufacturer (OEM) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027

A07752
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Dec 2020 | 112 Views
 
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Direct tire pressure monitoring system (TPMS) uses pressure detection sensors installed inside tires which sense the air pressure of the tire. Additionally, the direct TPMS analyses the tire temperature by sending the data to a centralized control module which interprets the reading and a warning is displayed on the drivers’ infotainment display if the air pressure is less than the required pressure. Furthermore, a direct TPMS is considerably sensitive when compared to indirect system which actually monitors the air pressure inside the tire. Moreover, low air-pressure of an automobile tire has a negative impact on tire life, safety, mileage and performance of the vehicle. Thereby, properly inflated tires help in reducing the number of accidents which are caused by poor condition of tires. Therefore, rise in innovative technology to detect low-air pressure in vehicles is expected to boost the market growth for the direct tire pressure monitoring system.

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

  Technology, Vehicle Type, Sales Channel and Region

  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

Sensata Technologies Inc., Continental AG, Pacific Industrial Co. Ltd, HufHülsbeck&FürstCo., ZF Friedrichshafen AG, Schrader Electronics, AVE technologies, Bartec USA LLC, DUNLOP TECH and Delphi Automotive LLP.

 

COVID-19 scenario Analysis: 

  • The automotive industry across the globe is majorly affected due to the restrictions on travel and the government declared lockdown across the affected countries, which in turn affects the direct tire pressure monitoring system manufacturers worldwide.
  • Global direct tire pressure monitoring system is an evolving sector which is hampered due to coronavirus and has caused issues such as low liquidity & unavailability of workforce for the direct tire pressure monitoring system manufacturers across the affected countries owing to the pandemic.
  • A major disruption has been experienced by the direct tire pressure monitoring system manufacturers owing to the COVID-19 pandemic which in turn has caused all the production and installation process to be shut down in the affected countries.
  • Majority of direct tire pressure monitoring system manufacturers are facing issues such as security risks and closure of factories due to the government declared lockdowns owing to the coronavirus pandemic.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Stringent government regulations regarding safety & security such as compulsion for manufacturers to equip the vehicles with a TPMS, growth in global automotive industry and increase in adoption of direct TPMS in vehicles are driving the growth of the market. However, lack of road maintenance and increasing deterioration due to climatic changes & unsafe driving conditions is expected to hamper the growth of the market. Contrarily, increasing penetration of tire pressure monitoring systems in automobiles across the globe can be seen as an opportunity for the market investments.

The direct tire pressure monitoring systems market trends are as follows:

Increase in adoption of direct TPMS in vehicles

The direct tire pressure monitoring system (TPMS) is commonly found in the passenger vehicle, light commercial vehicle and even in heavy commercial vehicle segments of an automotive industry. The direct tire pressure management is considered to be a critical safety system for the vehicles. Furthermore, the automotive industry is introducing safety features which help in minimizing the impact of vehicle collisions, reduce fatalities, and improve overall vehicle safety. Various automakers such as BMW, Volkswagen and Daimler AG are installing the TPMS while producing the vehicle. For instance, Daimler is producing TPMS for the Mercedes-Benz fleet since the year 2000. Therefore, the increase in adoption of direct tire pressure monitoring system in vehicles is anticipated to boost the market growth for the global direct tire pressure monitoring system.

Key segments covered:

                 Segments

                                Sub-segments

  Technology

  • Conventional Tire Pressure Monitoring System
  • Intelligent Tire Pressure Monitoring System

  Vehicle Type

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

  Sales Channel

  • Original Equipment Manufacturer (OEM)
  • After market

  Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Turkey
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the direct tire pressure monitoring systems 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 challenges of the direct tire pressure monitoring systems market.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the direct tire pressure monitoring systems market growth scenario.
  • We can also determine TPMS will remain a significant revenue shareholder in the global direct tire pressure monitoring systems market through the predictable future.

Questions answered in the global direct tire pressure monitoring systems market research report:

  • Which are the leading market players active in the global direct tire pressure monitoring systems 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?
 
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