Tire Pressure Monitoring System (TPMS) Market size is anticipated to witness escalating gains from 2019 to 2027. Increased emphasis on reducing vehicular emissions while enhancing vehicle fuel efficiency is expected to boost market demand in the future years. Numerous automakers in the growing automotive industry have been strictly adhering to legislative rules pertaining to the effects of greenhouse emissions and worsening air quality, providing a boost to overall market growth. Furthermore, new laws governing the installation of TPMS would increase demand for these systems.
Considering the system bifurcation, the automative tire pressure monitoring system market has been sub-divided into direct TPMS and indirect TPMS. The direct TPMS segment is likely to amass significant gains in the upcoming years on the grounds of its robust features including ability to detect absolute pressure management, need for additional sensors with snow tires, and display of tire pressure on each wheel. Although the segment is growing at a prodigious pace, high cost associated with its installation due to periodic replacement of sensor batteries is expected to limit the use of this system. Meanwhile indirect TPMS would also gradual growth over the foreseeable period.
The passenger vehicle category dominates the TPMS market in terms of vehicle type. This increase can be attributed to the introduction of severe regulatory laws pertaining to passenger safety and security. Furthermore, growing advanced driver assistance systems combined with established anti-lock braking systems are projected to boost vehicle safety by lowering accidents, propelling segmental expansion. According to reports, the Porsche 959 was the first passenger vehicle to have TPMS in 1985.
Key players operating in the global automotive tire pressure monitoring system (TPMS) market are ZF Friedrichshafen AG, ATEQ, Continental AG, Bartec USA LLC, Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, AUTOMOTIVE TECHNOLOGY CO., LTD., Rivigo Services, Denso Corporation, DUNLOP TECH GmbH, Pacific Industrial Co., Ltd., Bendix Commercial Vehicles Systems LLC, NXP Semiconductors, NIRA Dynamics AB, WABCO, and HAMATON AUTOMOTIVE TECHNOLOGY CO., LTD.
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