The global automotive tyre pressure monitoring systems market is anticipated to grow at a significant CAGR during the forecast period. The major factor propelling the growth of the global automotive tyre pressure monitoring systems market includes the growing number of road accidents prompting the government authorities to impose safety regulations and norms globally. As per the Global Status Report on Road Safety, by World Health Organization (WHO) in 2018, around 1.35 million died due to road traffic accidents. In addition to this, the growing consumer preference towards safety and advanced driving systems will drive the growth of the market.
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Tyre Pressure Monitoring System (TPMS) is an electric-oriented system that observes the air pressure inside the tyres and provides real-time information. Tyre Pressure Monitoring System (TPMS) has the key purpose of warning the driver when at least one or more tyres are significantly under-inflated, which will possibly create unsafe driving conditions.
The key players contributing to the growth of the global automotive tyre pressure monitoring systems market by adopting various strategies such as product launches & developments, mergers and acquisition, partnerships, and agreements, including Continental AG, Bridgestone Americasinc., Tyre Operations LLC, DENSO Corp., Delphi Automotive LLP, Ltd. among others. For instance, India’s first ‘smart Tyre’ technology was launched by JK Tyre and Industries Ltd. in August 2019, which is equipped with TREEL sensors for smart maintenance and monitoring of tyres. The product is launched after the acquisition of TREEL Mobility Solutions Pvt Ltd. The TPMS of the company provides the data on the owner's mobile phones via Bluetooth collected from the pressure sensors.
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Market Coverage
- Segment Covered-
o By Technology
o By Type of Vehicle
- Competitive Landscape- Continental AG, Bridgestone Americasinc., Tyre Operations LLC, DENSO Corp., Delphi Automotive LLP, Valor, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Tyre Pressure Monitoring System Market by Segment
By Technology
• Indirect Tyre Pressure Monitoring
• Direct Tyre Pressure Monitoring
By Type of Vehicle
• Commercial Vehicle
• Passenger Cars
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