The automotive tire pressure monitoring system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Tire Pressure Monitoring System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive tire pressure monitoring system market size has grown rapidly in recent years. It will grow from $8.39 billion in 2023 to $9.72 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to increase in automotive production and sales, expanding automotive aftermarket, enhanced safety and security requirements, globalization and international trade.
The automotive tire pressure monitoring system market size is expected to see rapid growth in the next few years. It will grow to $17.12 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to electrification of vehicles, autonomous vehicle development, stringent government regulations, expansion of the connected car ecosystem, rising disposable income. Major trends in the forecast period include advanced sensor technology, connected tpms, predictive maintenance, smartphone integration, data analytics and ai.
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Scope Of Automotive Tire Pressure Monitoring System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Tire Pressure Monitoring System Market Overview
Market Drivers –
The growing number of accidents is expected to propel the growth of the automotive tire pressure monitoring systems market over the coming years. Accidents are unexpected, unwanted, and sudden events that are associated with injury or loss of life. The subsequent road fatalities and accidents prompted the regulatory authorities to mandate the installation and employment of tire pressure monitoring systems in automobiles, thereby promoting the production of automotive tire pressure monitoring systems. For instance, according to the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA), in the US, about 20,000 people lost their lives in motor vehicle crashes in the first half of 2021, a 20% increase from 2020. Therefore, the growing number of accidents and subsequent road fatalities is driving the growth of the growth of the automotive tire pressure monitoring systems market.
The automotive tire pressure monitoring system market covered in this report is segmented –
1) By Type: Direct TPMS, Indirect TPMS
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
3) By Sales Channel Type: OEM, Aftermarket
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Regional Insights –
North America was the largest region in the automotive tire pressure monitoring system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive tire pressure monitoring system market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the automotive tire pressure monitoring system market include Continental AG, Sensata Technologies Holding plc, Denso Corporation, Pacific Industrial Co. Ltd., NXP Semiconductors N.V., Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, Hamaton Automotive Technology Co. Ltd., ATEQ TPMS, Alligator Ventilfabrik GmbH, ALPS ALPINE CO. LTD, Doran Manufacturing, Bartec USA LLC, Dill Air Controls Products, ZF Friedrichshafen AG, DUNLOP TECH GmbH, Schrader International Inc., WABCO Holdings Inc., ACDelco a General Motors Company, TRW Automotive Inc., Bridgestone Corporation, BorgWarner Inc., HELLA GmbH & Co. KGaA, Lear Corporation, Omron Corporation, Visteon Corporation, Transense Technologies PLC, Xensor Corporation, CUB Elecparts Inc., Sate Auto Electronic Co. Ltd., Shanghai Baolong Automotive Corporation, Paceline Electronics Inc.
Table of Contents
1. Executive Summary
2. Automotive Tire Pressure Monitoring System Market Characteristics
3. Automotive Tire Pressure Monitoring System Market Trends And Strategies
4. Automotive Tire Pressure Monitoring System Market – Macro Economic Scenario
5. Global Automotive Tire Pressure Monitoring System Market Size and Growth
…
31. Global Automotive Tire Pressure Monitoring System Market Competitive Benchmarking
32. Global Automotive Tire Pressure Monitoring System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Tire Pressure Monitoring System Market
34. Automotive Tire Pressure Monitoring System Market Future Outlook and Potential Analysis
35. Appendix
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