The tyre pressure monitoring system is an electronic system that monitors the air pressure and temperature in the vehicle's tyre and displays the information on the screen in real time. This notifies the driver if there is a risk associated with the vehicle's tyre pressure changing. There are numerous factors that influence a vehicle's pressure reduction. Reduced tyre life, vehicle performance, mileage, and safety are all major factors. The introduction of such a system into the market had significant benefits, including increased driver convenience and a reduction in the number of injuries caused by the use of such systems. Such systems have improved fuel mileage, tyre longevity, and driver vehicle handling.
MARKET SCOPE
The "Global Tire Pressure Monitoring System Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the tire pressure monitoring system market with detailed market segmentation by system type, technology, vehicle type, distribution channel and geography. The report provides key statistics on the market status of the leading tire pressure monitoring system players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
? Based on system type, the global Tire pressure monitoring system market is segmented into direct TPMS, and indirect TPMS.
? On the basis of technology, the market is segmented into intelligent TPMS, and conventional TPMS.
? On the basis of vehicle type, the market is segmented into passenger car, and commercial vehicle.
? On the basis of distribution channel, the market is segmented into OEM, and aftermarket.
MARKET DYNAMICS
Drivers:
? the features like tire pressure indicators, anti-brake systems, and electronic stability of the vehicle have regulated the growth.
? The change in mindsets and increased concerns about the safety of the consumers
Restraints
? lack of standardization and high prices associated with the tire-pressure monitoring system
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The tire pressure monitoring system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Tire pressure monitoring system market in these regions.
IMPACT OF COVID-19 ON TIRE PRESSURE MONITORING SYSTEM MARKET
During the Covid-19 outbreak, the market has seen a downfall in terms of manufacturing and production. Most of the industries have been hampered by the pandemic and are still recovering. The Global Tire Pressure Monitoring System market has witnessed a negative impact in the demand for these systems as the entire globe was under lockdown and all the major countries have been impacted due to this reason. However, now life is coming back on a normal track so the demand for the products is anticipated to lift in the usual manner. The Tire Pressure Monitoring System market was at a halt for a while but now several governments have given leverage for the import-export trades. The supply-demand chain will be back in service and the market will maintain the pace in the coming times.
MARKET PLAYERS
The report covers key developments in the Tire pressure monitoring system market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from tire pressure monitoring system market are anticipated to lucrative growth opportunities in the future with the rising demand for tire pressure monitoring system market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the tire pressure monitoring system market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
? Continental AG
? Robert Bosch GmbH
? ZF Friedrichshafen AG
? VALEO
? NXP Semiconductor
? Denso Corporation
? Sensato Technologies Inc.
? Harman automotive technology co. Ltd.
? Bendix Commercial Vehicle Systems LLC
? Dunlop Tech GmbH
The Insight Partner?s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.