MarkNtel Advisors recently published a detailed industry analysis of the Global Tire Pressure Monitoring Systems Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Tire Pressure Monitoring Systems, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Tire Pressure Monitoring Systems Market is projected to grow at a CAGR of around 9.0% during the forecast period, i.e., 2023-28.
Key Findings in Global Tire Pressure Monitoring Systems Market:
- Historical Analysis: 2018 –2021
- Base Year: 2022
- Forecast Period: 2023-2028
Leading Market Players- Continental AG, Denso corporation, Delphi Automotive, Sensata Technologies, Dunlop Tech Gbmh, Wabco, Bendix Commercial Vehicle systems LLC, Schrader Electronics, Pacific Industrial Co., Ltd., Huf and Hlsbeck & Frst Gmbh & Co.
Key Highlights of the Report
- Market Dimensions And Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Tire Pressure Monitoring Systems industry?
Rising Installation of Accident Preventive Safety Systems- The continuous occurrence of automobile accidents has urged manufacturers, and consumers to adapt and improve the safety features in the vehicle to prevent damage and causality by focusing on the improvement of automotive vehicles with the installation of new safety features. This has resulted in continuous research and development into the issue and coming up with more minor, complementing designs and systems, leading to the higher installation of such sensor systems, thereby driving the industry. As a solution, TMPS provides safety by improving vehicle handling, decreasing tire wear, reducing braking distance, and better fuel economy. In addition, the concerns over the higher number of accidents occurring due to tire failures have accelerated the market growth.
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What segments define the Global Tire Pressure Monitoring Systems Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Technology
- Direct Tire Pressure Monitoring System
- Indirect Tire Pressure Monitoring System
According to report, Here, Direct Tire Pressure Monitoring System is expected to gain the largest market share during the forecast period, aided by the features such as delivering exact pressure for each tire, no loss of tire pressure information, sensor batteries that last the life of the vehicle mostly, and the ability to monitor spare tires.
By Sales Channel
- OEMs
- Aftermarket
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
According to report, Between the two, Passenger Vehicle dominated the market with the largest market share during the historical period and is anticipated to follow the same trend in the forecast years.
Explore the Complete Global Tire Pressure Monitoring Systems Market Analysis Report – https://www.marknteladvisors.com/research-library/global-tire-pressure-monitoring-system.html
Geographical Analysis: Global Tire Pressure Monitoring Systems Market
By Region
- North America
- South America
- Europe
- Asia-Pacific
- Rest of World
Global Tire Pressure Monitoring Systems Industry Recent Development:
- In May 2022, Continental AG unveiled an advanced combine-tire monitoring system for its CombineMaster and CombineMaster VF tires called ContiPressureCheck, designed to monitor tire pressure & temperature.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Global Tire Pressure Monitoring Systems?
- How is the Global Tire Pressure Monitoring Systems expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, And data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial And varied client base, including multinational corporations, financial institutions, governments, And individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing And forecasting, And trend analysis, among others, for 15 diverse industrial verticals.
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