Tire Pressure Monitoring System Market Latest Advancements And Business Opportunities up to 2032

 Over the forecast period of 2022 to 2032, the tire pressure monitoring system market is expected to grow at a CAGR of 10.3% to reach a value of US$ 7.7 Billion by 2032.

Commercial vehicles are heavier and despite being well-equipped with tire pressure, suffer frequent tire burst due to poor road conditions. TPMS takes away the guesswork by alerting the driver when a vehicle's tires are low on air or flat. This information reduces the chances of accidents and further improves the efficiency for utilizing fuel, as optimized air pressure in a tire moves the vehicle smoothly.

Various government bodies all over the globe have imposed stringent passenger safety regulations on automobile manufacturing. The automotive industry's expansion, initiatives to adopt advanced technologies, develop structured safety features, and a growing trend of government and consumer adoption of autonomous vehicles is expected to create opportunities for growth in the market.

Request to Sample of Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-719

The global TPMS market is expected to be benefited from rising per-capita income in developing economies, as well as increasing demand for premium and luxurious features in vehicles over the forecast period. Countries with a large trucking industry plan to standardize the use of tire pressure monitoring systems (TPMS) in heavy commercial vehicles, resulting in higher sales.

TPMS is becoming an innovative component in a vehicle. Furthermore, increase in the safety standards adopted by the key manufacturers all over the globe is anticipated to benefit the growth in the market. Increasing sales of electric vehicles are also expected to propel the demand for tire pressure monitoring system in the forthcoming years.

 “The quick adaptation of technologies in the automotive sector will fuel the adoption of TPMS. The market for Advance driver assistance systems is benefiting from rising demand for safe care driving, government regulation on road safety, which is expected to have a direct impact on the TMPS market,” says an FMI analyst.

Key Takeaways:

  • Based on technology type, demand for pressure sensor is expected to increase at a CAGR of about 10% over the assessment period.
  • By region, Europe and East Asia are expected to be collectively account for a market share of more than 70.9% by 2032.
  • In terms of vehicle type, passenger vehicle segment is estimated to dominate the market holding more than 75.0% of the total market share.
  • Total sales in the U.S. market will reach a valuation of US$ 0.3 Bn in 2022.
  • China will offer an incremental opportunity of more than US$ 2.9 Bn over the forecast period.
  • Germany will account for more than 25.9% of the Europe tire pressure monitoring system market in 2022.

Competitive Landscape

Texas Instruments Incorporated, Intel Corporation, NVIDIA Corporation, Continental AG, and others are among the industry's key market participants.

Manufacturers and developers of tire pressure monitoring systems are constantly investing in improving the system's application while reducing human interference and increasing accountability.

For more info: https://www.futuremarketinsights.com/reports/tire-pressure-monitoring-systems-market

Tire Pressure Monitoring Systems Market: Segmentation

TPMS Market by Category

By Technology:

  • Ultrasonic Sensor
  • Lidar Sensor
  • Radar Sensor
  • Camera Sensor
  • Infrared Sensor
  • Pressure Sensor

By Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

Comments

Post a Comment

Popular posts from this blog

Automotive Sensors Market Study: An Emerging Hint of Opportunity by 2033

  The   automotive sensor market  demand will continue rising through 2021 with worldwide demand projected to increase by  5.5%  year over year. As per Future Market Insights (FMI), automotive sensor revenues generation will increase at a ten-year compound annual growth rate (CAGR) of  7.2% , as the automotive production recovers after bucking skepticism about how the market would perform post pandemic. NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH are identified as leading players in automotive sensor market. They will collectively account for nearly  30%  of global market share in 2021. Auto theft has emerged as a serious problem across the globe. According to a report by the National Insurance Crime Bureau, auto theft grew by 9.2% year-on-year in U.S. reaching 873,080 cases in 2020. To tackle this issue, automakers are installing modern anti-theft sensors in economic and budget cars. This development will fuel the demand for automotiv
Read more

Automotive Head-up Display Market Report: Overview With Geographical Segmentation By Revenue With Forecast By 2033

  The global   automotive head-up display market   is expected to attain a valuation of US$ 1.3 billion in 2023 and is projected to reach US$ 6.4 billion by 2033, trailing a CAGR of 17.2% during the forecast period. New projection technologies are becoming available, such as electromechanical micro mirror-based devices. These innovations offer vivid displays with a broad colour spectrum. The affordability and innovation that these display technologies offer are what are driving the market growth for display systems. Key Takeaways The United States automotive head-up display industry is projected to expand with a CAGR of 16.8% from 2023 to 2033. The demand for automotive head-up displays in China is expected to capture a CAGR of 17.1% during the forecast period. By dimension, the 3D segment is projected to expand with a CAGR of 19.6% between 2023 and 2033. Germany is expected to secure a CAGR of 17% throughout the forecast period. Increasing sales of luxury and premium vehicles are expe
Read more

Battery Swapping Charging Infrastructure Market Analysis and Market Studies To 2033

  The global   Battery Swapping Charging Infrastructure Market   is expected to surpass an impressive valuation of USD   202.07   million in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 21% from 2023 to 2033.  Infrastructure for EV charging will be more and more in demand for residential and business uses. The market for electric vehicle charging infrastructure is also anticipated to grow over the future decades as a result of improved automakers' cooperation for charging infrastructure via a monthly subscription. Reduced battery replacement infrastructure construction costs, decreased EV purchase costs, increased demand for public charging infrastructure, and supportive government subsidies are accelerating market growth. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-15888 Green energy is also anticipated to be a major factor in private and public electric vehicle charging. Owners of electric vehicles worry
Read more