Global Tire Pressure Monitoring System Market is expected to experience significant growth during the forecast period:
Market research future published a raw research report Global Tire Pressure Monitoring System Market that contains the information from 2018 to 2023. The Global Tire Pressure Monitoring System Market is expected to grow at~ 7% CAGR from 2018 to 2023.
Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Tire Pressure Monitoring System market Information from 2018 to 2023”
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Global tire pressure monitoring system has witnessed gradual growth, in recent years and is expected to witness steady growth in the forecast period. The tire pressure monitoring system market is primarily driven due to the strict government regulations, which mandate the need to curb vehicular emissions and increase fuel efficiency as one of the primary growth factors.
A study conducted by World Health Organization (WHO) in 2015 stated that, the road traffic fatality rate per 100,000 population was 17.4. This clearly indicates the increasing need for automobile safety & security technologies to reduce increasing incidence of road accidents. Innovative technologies such as electronic stability control (ESC), anti-lock braking systems (ABS), lane departure warning system (LDWS), and tire pressure monitoring system (TPMS) are gaining traction due to increasing safety concerns worldwide.
The global tire pressure monitoring system market is forecast to witness a significant growth during the forecast period, with a growth rate of more than 7%. The Tire Pressure Monitoring System (TPMS) market is segmented by technology as, direct TPMS and indirect TPMS, and by vehicle type as, passenger, light commercial and heavy commercial.
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North American Tire Pressure Monitoring System market, expected to grow at the highest CAGR
Tire Pressure Monitoring System market in the North-American region is currently leading, and is followed by Europe and Asia-Pacific market. North-America is expected to grow at the highest CAGR, owing to increasing concerns about vehicle safety, over the forecast years in countries such as U.S and Canada. Increasing demand and sales in vehicles along with their safety installations, and adoption of safety regulations by government agencies, are driving the demand for automotive tire pressure monitoring system. These factors will drive the market for tire pressure monitoring system market in North American region during the forecast period.
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The key players of global tire pressure monitoring system market are Sensata Technologies Inc. (U.S), Continental AG (Germany), Pacific Industrial Co. Ltd (Japan), Huf Hülsbeck & Fürst GmbH & Co. KG (Germany), ZF Friedrichshafen AG (Germany), Schrader Electronics (U.K), AVE technologies (Australia), Bartec USA LLC (U.S), DUNLOP TECH GmbH (Germany) and Delphi Automotive LLP. (U.K)
This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global tire pressure monitoring system market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.
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