CAR ELECTRONICS & GPS

Global Tire Pressure Monitoring Systems Market: North America is the largest market for global tire pressure monitoring systems market

tire pressure monitoring systems market

A tire pressure monitoring systems (TPMS) is an electronic systems designed to monitor air pressure inside pneumatic tires. It provides real-time tire-pressure information to the driver, via either via a pictogram display, a gauge, or a simple low-pressure warning light. The TPMS low tire pressure indicator is a yellow symbol that illuminates on the dashboard instrument panel in the shape of a tire cross-section with an exclamation point. A properly maintained air pressure in the tires can help in reducing accidents caused by speed and poor condition of tires.

North America is the largest market for global tire pressure monitoring systems market

Stringent government regulations for use of tire pressure monitoring systems as safety norm in vehicles is key factor driving growth of the global tire pressure monitoring systems. In addition, increasing number of vehicles, and increasing safety awareness among consumers are other factors expected to fuel growth of the global pressure monitoring systems over the forecast period.

However, high price of tire pressure monitoring systems is a key factor driving growth of the global tire pressure monitoring systems. Furthermore, the potential threat of vehicle being tracked using TPMS sensors is another factor expected to hamper growth of the global tire pressure monitoring systems over the forecast period.

The global tire pressure monitoring systems market report has been segmented on the basis of vehicle type, technology, and region. On the basis of region, the global tire pressure monitoring systems market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The market in North America accounted for highest revenue share in the global tire pressure monitoring systems market owing to increasing adoption of tire pressure monitoring systems due to mandatory rules and regulations by countries in the region. The market in Europe accounts for the second-highest revenue share contribution to the global tire pressure monitoring systems market followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness lucrative growth in terms of revenue, owing to significant increase in number of vehicles, and stringent government norms regarding use of tire pressure monitoring systems for safety in countries such as China, Japan, South Korea, and Taiwan.

Prominent players in the global tire pressure monitoring systems market include Schrader Electronics, TRW Automotive, AVE technologies, Bartec USA LLC, Continental AG, Sensata Technologies Inc., Pacific Industrial Co. Ltd, Huf Hülsbeck & Fürst GmbH & Co. KG, TRW Limited, and Infineon Technologies.

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