Global Automotive Tyre Pressure Monitoring System Market on a Rapid Growth Trajectory
Automotive Tire Pressure Monitoring System Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, GREATER LONDON, UK, November 23, 2023 /EINPresswire.com/ -- The global automotive tyre pressure monitoring system market experienced substantial growth, ascending from $7.25 billion in 2022 to $8.6 billion in 2023, registering an impressive Compound Annual Growth Rate (CAGR) of 18.6%. Projections suggest a continued upward trend, with the market size expected to reach $15.74 billion by 2027, boasting a CAGR of 16.3%.
Rising Accidents Drive Demand for Tyre Pressure Monitoring Systems
The surge in accidents globally is anticipated to fuel the growth of the automotive tyre pressure monitoring systems market in the years to come. Accidents, characterized by unexpected and unwanted events resulting in injury or loss of life, have prompted regulatory authorities to mandate the installation of tyre pressure monitoring systems in automobiles.
Explore comprehensive insights into the global automotive tyre pressure monitoring system market with our detailed sample report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5829&type=smp
Key Players Shaping the Market Landscape
Major players influencing the automotive tyre pressure monitoring system market include Continental AG, Sensata Technologies Inc., Denso Corporation, Pacific Industrial Co. Ltd., NXP Semiconductors, Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, Hamaton Automotive Technology Co. Ltd., ATEQ TPMS, Alligator Ventilfabrik GmbH, Alps Alpine Co. Ltd., Doran Manufacturing, Bartec USA LLC, Dill Air Controls Products, ZF Friedrichshafen AG, and DUNLOP TECH GmbH.
Technological Advancements Steer Market Trends
Technological advancements emerge as a pivotal trend in the automotive tyre pressure monitoring systems market, with major companies focusing on research and innovation. Continental, a Germany-based automotive parts manufacturing company, introduced the ContiConnect Live system in December 2020. This cloud-based tyre monitoring system, equipped with sensor technology, provides real-time data on tyre pressure and temperature, enhancing overall safety. In a significant move, Sensata Technologies, a U.S.-based sensor solutions provider, acquired Xirgo Technologies LLC in April 2021 for $400 million, expanding its presence in transportation and logistics markets.
Regional Dynamics and Market Segmentation
In 2022, North America claimed the top spot as the largest region in the automotive tyre pressure monitoring system market. However, Asia-Pacific is poised to be the fastest-growing region in the forecast period. The market analysis report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global automotive tyre pressure monitoring system market is segmented -
1) By Type: Direct TPMS, Indirect TPMS
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
3) By Sales Channel Type: OEM, Aftermarket
Access the complete report for an in-depth analysis and strategic insights into the automotive tyre pressure monitoring system market:
https://www.thebusinessresearchcompany.com/report/automotive-tire-pressure-monitoring-system-global-market-report
Automotive Tire Pressure Monitoring System Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Tire Pressure Monitoring System Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive tire pressure monitoring system market size, automotive tire pressure monitoring system market drivers and trends, automotive tire pressure monitoring system market major players, automotive tire pressure monitoring system market competitors' revenues, automotive tire pressure monitoring system market positioning, and automotive tire pressure monitoring system market growth across geographies. The automotive tire pressure monitoring system market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Green Tires Market Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/green-tires-global-market-report
Tire Machinery Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/tire-machinery-global-market-report
Winter Tire Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/winter-tire-global-market-report
About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 6500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Check out our:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
Twitter
LinkedIn
YouTube
Sports Market Growth Forecast 2023-2027
Distribution channels: Automotive Industry, Business & Economy, Companies, Technology, World & Regional
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release