In-Depth Tire Pressure Monitoring Systems Market Analysis: Growth Trends, Size, and Demand from 2023 to 2028

MarkNtel Advisors analyses the growth rate of the Tire Pressure Monitoring Systems market in the forecast period from 2023 to 2028. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Tire Pressure Monitoring Systems market, helping them make informed decisions.

Market Outlook – 2023-2028:

The Global Tire Pressure Monitoring Systems Market is projected to grow at a CAGR of around 9.0% during the forecast period, i.e., 2023-28. The market growth is attributed to rising safety concerns, government regulations, and the surging number of passenger commercial vehicles. Additionally, the elevating number of luxury vehicles, increasing economic and environmental policies, shifting consumer and manufacturer preference for advanced safety features, and the need to reduce vehicular emissions and improve vehicle fuel efficiency are also aiding in market expansion.

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Key Company Profiles

This report explores recent significant developments in the Tire Pressure Monitoring Systems Market, focusing on the leading companies and their innovative profiles. The major players in the Tire Pressure Monitoring Systems Market, featured in this report, include:

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.

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Market Segmentation Coverage

This research report by MarkNtel Advisors categorizes the Tire Pressure Monitoring Systems Market to forecast revenues and analyse trends across each of the following sub-markets:

By Technology
- Direct Tire Pressure Monitoring System
- Indirect Tire Pressure Monitoring System

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
By Region
- North America
- South America
- Europe
- Middle East
- Africa
- Asia-Pacific

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What are the primary factors driving the growth of the Global Tire Pressure Monitoring Systems Market?

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.

Key Questions Addressed:

Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?

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We are a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

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