Tire Pressure Management Systems Market to See Significant Growth in Revenue

Radiant Insights report projects growth during forecasted period to 2028

Global Tire Pressure Management Systems Market has been estimated to display a significant growth in terms of revenue generation during the forecast period. Tire pressure directly affects tire functionality and may result in catastrophic accidents in severe cases.

A tire pressure management system effectively calculates the tire pressure with the help of an onboard sensor and informs the driver about any potential threats by the means of corresponding signals. “The development of intelligent tire pressure management systems has helped in cost reduction in terms of maintenance expenses of traditional TPMS.”

In order to facilitate safe and secure driving experience, these systems have been regulated in new automobiles manufactures from 2014 in Taiwan and Europe, 2008 in the U.S.A., 2018 in China, 2015 in Japan, and 2016 in Korea. This inventive tool identifies the individual position of each tire and its pressure with maximum accuracy. Tax revision has majorly hampered the automobile sales attributed to the high price of tire pressure management systems. Based on vehicle type, the tire pressure management system market has been segmented into light commercial vehicles, passenger vehicles, and heavy commercial vehicles.

Rapid economic expansion and the growing investments made by the OEMs is enhancing the innovation and development of emerging tire pressure management systems technologies. In order to study the span of the industry, the global tire pressure management systems market has been geographically segmented into the five key regions of North America, Europe, the Asia Pacific, the Middle East, and Africa, and Latin America. The market in the United Nations is estimated to be driven by the constantly rising focus on improving safety features in modern vehicles. This has implored the incorporation of stringent manufacturing and safety norms. A succession of major road accidents in Europe and the United States has enacted the development of strict tire pressure management legislation. Over the past several years the Asia Pacific countries such as India, and Japan have realized the importance of improving tire safety features. This has implored the Asia Pacific to emerge as the fastest growing region.

The tire pressure management systems market offers a multitude of challenges for the industry participants and the gaining decisive understanding of these challenges have impelled the players to pander strategic merger & acquisition activities with their fellow contenders. Stakeholders and investors are increasing their spending on research and development activities to scale the latest technologies in their system engineering process. The competitive landscape of tire pressure management systems market encompasses an array of highly acclaimed contenders like NXP Semiconductors, Valeo, ZF Friedrichshafen AG, Robert Bosch, Continental AG, Sensata Technologies, Inc., Pacific Industrial Co., Ltd., Denso Corporation, WABCO, Motorola Mobility LLC., Huf Hülsbeck & Fürst GmbH & Co. KG, Bendix Commercial Vehicles Systems LLC, NIRA Dynamics AB, Dunlop Tech GmbH, Bartec USA LLC, Hamaton Automotive Technology Co., Ltd., and ATEQ. Motorola introduced the Intelligent Sensor MPXY8020A in the year 2011, which monitors the vehicle behavioral aspects such as fuel consumption, tire pressure, stability, and maneuverability.

Category: Featured, General Update, News, Wheels & Tires