In-Depth Exploration of the Indirect Tire Pressure Monitoring System Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2030.
Report Ocean has recently released a comprehensive research report on the global Indirect Tire Pressure Monitoring System Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
Global Indirect Tire Pressure Monitoring System Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2030.
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The Indirect Tire Pressure Monitoring System can be defined as electric sensor-based device that uses the Anti-lock Braking System to approximate tire pressure. If a tire’s pressure is low, it would roll at a different wheel speed than the other tires. In indirect TPMS this information is detected by vehicle’s computer system, which displays the information through dashboard indicator light. The rising expansion of automotive manufacturing sector and stringent government regulations regarding vehicle safety as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, as per Statista – in 2021, the global automotive manufacturing market was estimated at USD 2700 billion, and the market is projected to grow to USD 2800 billion by end of 2022.
Furthermore, leading market players are working towards strategic initiatives including partnership to leverage the growing adoption to Indirect Tire Pressure Monitoring System. iTrack specialises in development of tire pressure monitoring system (TPMS) solutions for the off-the-road (OTR) vehicle. For instance, in January 2019, Bessenbach, Germany based commercial vehicle supplier SAF-HOLLAND acquired a 51% stake in Nashville, TN, US based automatic tire pressure management company, PressureGuard LLC. This acquisition would strengthen SAF-HOLLAND product portfolio for tire pressure systems in North America region. Further, in June 2020, Tokyo, Japan based Bridgestone Corporation (Bridgestone) completed the acquisition of the London, UK based iTrack Solutions Business from UK-based Transense Technologies PLC. Also, growing technological advancements in automobile sector and increasing penetration of Electric Vehicles in emerging countries are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a low accuracy associated with indirect TPMS impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Indirect Tire Pressure Monitoring System Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing advancements in automobiles and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the growing number of safety regulations from government authorities and increasing adoption technologically advanced vehicles in the region, would create lucrative growth prospects for the global Indirect Tire Pressure Monitoring System Market across the Asia Pacific region.
Major market players included in this report are:
- Sensata Technologies Inc.
- Continental AG
- Pacific Industrial Co. Ltd
- HufHulsbeck&FurstCo
- ZF Friedrichshafen AG
- Schrader Electronics
- AVE technologies
- Bartec USA LLC
- DUNLOP TECH
- Delphi Automotive LLP
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Technology
Conventional Tire Pressure Monitoring System
Intelligent Tire Pressure Monitoring System
By Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
By Sales Channel
Original Equipment Manufacturer (OEM)
After market
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Indirect Tire Pressure Monitoring System market, including:
- What can be expected for the Indirect Tire Pressure Monitoring System market in the next decade?
- What are the primary drivers of growth in the global Indirect Tire Pressure Monitoring System market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Indirect Tire Pressure Monitoring System market vary based on the size of the end market?
- What is the breakdown of Indirect Tire Pressure Monitoring System by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Indirect Tire Pressure Monitoring System market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Indirect Tire Pressure Monitoring System Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Indirect Tire Pressure Monitoring System Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Indirect Tire Pressure Monitoring System Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Indirect Tire Pressure Monitoring System Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Indirect Tire Pressure Monitoring System Market.
Our Indirect Tire Pressure Monitoring System Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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