Tyre Pressure Monitoring Systems (TPMS) Market Analysis, Development and Demand Forecast to 2020
by Vijay K. Web MarketingThe global tyre
pressure monitoring system (TPMS) market is driven by the technological
advancements and increased safety awareness among consumers. The increase in
vehicle sales as a result of growth in per capita income of consumers is another
factor, which is driving the growth of the global tyre pressure monitoring
system industry. The reduced fuel consumption, real time pressure &
temperature monitoring, and increased lifespan of tyre are some of the advantages
of tyre pressure monitoring system.
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The automotive safety systems have
become more sophisticated, advanced, and efficient. The augmented adoption rate
of automotive safety systems by the automotive industry has resulted in the
reduced number of accidents and minimizes the impact of accidents on people. Tyre
pressure monitoring systems (TPMS) is a device to control real time tyre
pressure and temperature. It is used to monitor the air pressure inside the
inflated tyres on several types of vehicles. Wireless TPMS consists of a display unit and
sensors. The display unit consists of a built in lithium ion battery in the
display unit, so that there is no need to connect a power cable with it. When the car’s tyre hits on a nail or any sharp
object, air starts to leak out from the tyre, which remains unnoticed by the
drivers. This can be dangerous, if the tyre turns out to be flat. A flat tyre
can disturb the balance of the car and may lead to accidents. A flat tyre can be dangerous, as it can
completely destroy the tyre and eventually the rim. The tyre pressure
monitoring systems alarm the driver of the vehicle in this kind of situations,
so that preventive action can be taken before any mishappening takes place.
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North America
dominated the global tyre pressure monitoring systems market in 2014. Europe is
expected to dominate the global market and witness high growth in the future.
The vehicles equipped with original equipment manufacturing accessories are more
reliable, as compared to the after-market tyre pressure monitoring systems. The
installation of safety systems, such as tyre pressure monitoring system have
been made compulsory in developed countries, while the legislation in
developing countries are creating higher growth opportunities. However, the high
prices of TPMS are a major factor obstructing the growth of the global tyre
pressure monitoring systems market.
The increasing demand for luxury
vehicles in the regions, such as Europe and Asia- Pacific, mainly in developing
economies such as India and China, is driving the growth of the global tyre
pressure monitoring system market. ZF TRW Automotive Holdings Corp., AVE
Technologies, Schrader International Inc., General Electric Company, BARTEC US
Corp. are some of the major competitors in the global tyre pressure monitoring
systems market..
Global Tyre Pressure Monitoring System
Market Segmentation:
By Vehicle Type
- Light commercial vehicle (LCV)
- Heavy commercial vehicle (HCV)
- Passenger Vehicle
By Technology
- Direct TPMS
- Indirect TPMS
By Channel Type
- OEMs
- Aftermarket
By
Region
North
America
- U.S.
- Canada
- Rest of North America
Latin
America
- Mexico
- Brazil
- Rest of Latin America
Western
Europe
- Germany
- Italy
- France
- U.K.
- Spain
- Rest of Western Europe
Eastern
Europe
- Poland
- Russia
- Rest of Eastern Europe
Asia-Pacific
- China
- India
- New Zealand
- Australia
- Rest of APAC
Middle
East & Africa
- South Africa
- Rest of MEA
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