Automotive Tire Pressure Monitoring System Market

The Global Automotive Tire Pressure Monitoring System Market size was estimated to be US$ 4 billion in 2019 and the expected CAGR during 2020 and 2030 is 15%. Expansion of automotive industry across emerging markets, focused research & development towards development of electric and autonomous vehicles and increased investment in development of advanced automotive electronics are the key attributes defining the growth trajectory of the global automotive tire pressure monitoring system market. Automotive tire pressure monitoring is a critical component of safety systems of an automobile. Automotive tire pressure monitoring system help in continuous monitoring of tire pressure and alerts the driver when the pressure is critically low. Integration of advanced technologies into automobiles such as advanced driver assistance system (ADAS) has led the adoption of auxiliary technologies to ensure reliability and efficiency of vehicles.

However, the automotive industry is witnessing marginal growth in year-on-year sales of vehicles, which is anticipated to hinder the growth of global automotive tire pressure monitoring system market in coming years. Additionally, due to disruption in global automotive supply chain amidst the lockdown mandated by government authorities across the globe to prevent the spread of COVID-19, the automotive industry as a whole and automotive tire pressure monitoring system market is witnessing slack in demand. Though the demand for automotive tire pressure monitoring system from automotive OEMs is anticipated to be slow, steady demand from automotive aftermarket is estimated to drive growth of market in coming years.

Asia Pacific contributed a dominating share to the global automotive tire pressure monitoring system market in 2019 and is anticipated to be the fastest growing segment during the forecast period owing to demand from expanding automotive industry across major countries. The Asia Pacific automotive industry is anticipated to witness prominent shift in manufacturing of automobiles and automotive components in coming years with leading manufacturers focusing on diversifying their supply chain to achieve agility in supply chain. This is expected to impact the growth of global automotive tire pressure monitoring system market. North America is expected to witness steady growth during the forecast period.

Automotive Tire Pressure Monitoring System Market Share Analysis, by Geography (2019)

The report titled “Automotive Tire Pressure Monitoring System Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032”, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global automotive tire pressure monitoring system market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.

The global automotive tire pressure monitoring system market is segmented on the basis of technology, vehicle type, sales channel, and geography. Based on technology, the global automotive tire pressure monitoring system market is segmented into direct and indirect tire pressure monitoring system. Based on vehicle type, the global automotive tire pressure monitoring system market is segmented into passenger vehicle and commercial vehicle. The commercial vehicles are further sub-segmented into light commercial vehicles and heavy commercial vehicles. Based on sales channel, the global automotive tire pressure monitoring system market is segmented into original equipment manufacturer (OEM) and aftermarket. Based on geography, the global Automotive Tire Pressure Monitoring System market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on automotive tire pressure monitoring system. Further, market share of prominent companies in the global automotive tire pressure monitoring system market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the automotive tire pressure monitoring system companies.

The global automotive tire pressure monitoring system market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the automotive tire pressure monitoring system business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global automotive tire pressure monitoring system market.

Major players active in the global automotive tire pressure monitoring system market include Alligator Ventilfabrik GmbH, Aptiv PLC, ATEQ TPMS, Bartec USA LLC, Bendix Commercial Vehicles Systems LLC, Continental AG, DENSO Corporation, Dunlop Tech GmbH, Hamaton Automotive Technology Co., Ltd., Hella KGaA Hueck & Co., Huf Hülsbeck & Fürst GmbH & Co. KG, NIRA Dynamics AB, NXP Semiconductors, Pacific Industrial Co.,Ltd., Schrader Electronics Ltd., Sensata Technologies, Valeo, WABCO, and ZF Friedrichshafen AG.

Segmentation:

By Technology

• Direct 
• Indirect Tire Pressure Monitoring System

By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

By Sales Channel

• Original Equipment Manufacturer (Oem)
• Aftermarket