The global tire pressure management systems market is set to grow at a significant CAGR during the forecast period. Engineering innovations have turned tire industry to enjoy a higher competitive advantage. Tire-pressure optimization techniques thus present a novel opportunity to offer an all-inclusive and smart solutions to the commercial vehicle industry. The tire pressure management systems consistently perform the system to ensure that every tire is properly inflated to a steady pressure along with accompanying tires.
Tire pressure management system market is driven by rise in regulatory framework for installation of tire pressure management systems in developed economies followed by growth in automotive industry that supplements the market growth. Increasing adoption of tire pressure management systems by automotive companies is more likely to create lucrative opportunities during the forecast period.
By type, the tire pressure management systems industry segmentation comprises direct and indirect. Direct segment accounts for a higher market share during the forecast period. Vehicle type segmentation for tire pressure management system market comprises car, light commercial vehicle and heavy commercial vehicle. Light commercial vehicle dominates the market growth owing to increase in market value share.
By sales channel, the market segmentation comprises OEM and aftermarket. OEM segment is estimated to rise at a higher CAGR owing to rise in volume of demand. Aftermarket segment is expected to gain a higher traction in the forthcoming years.
Geographical segmentation for tire pressure management system industry spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America market is anticipated to rise at a higher rate owing to presence of technological infrastructure and key players. The rise in competitive edge between U.S. and APAC market leads the market to witness new opportunities in this phase.
The key players profiled in the tire pressure management systems market report are ATEQ, Continental AG, WABCO, Sensata Technologies Inc, Pacific Industrial Co Ltd, Hamaton Automation Technology, Denso Corporation, NIRA Dynamics AB, Bendix Commercial Vehicles Systems LLC, Dunlop Tech GmbH, Bartec USA LLC.
Leading players of Tire Pressure Management Systems including:
• Schrader (Sensata)
• TRW (ZF)
• Pacific Industrial
• Mahindra & Mahindra Limited
• Sunrise Instruments
Market split by Type, can be divided into:
• Direct TPMS
• Indirect TPMS
Market split by Application, can be divided into:
• Passenger Car
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA