Tire Pressure Monitoring Devices Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2027

The Tire Pressure Monitoring System Market studied was valued at over USD 5 billion in 2020, and it is expected to reach a value of USD 12 billion by 2027 while registering a CAGR of more than 13% during the forecast period 2021-2027.

A tire pressure monitoring system is an electronic system used to monitor the pressure and temperature of a vehicle’s tires and display the pressure and temperature on the screen in real-time. This warns the driver if there is a risk from pressure changes in the car’s tires. There are many factors involved in reducing the pressure in a vehicle. Some of the main factors are reduced tire life, vehicle performance, mileage, and safety. Batteries used in TPMS typically have a lifespan of 6 to 10 years.

 
Market Segments

By Type

• Single Function
• Multi-function

By Application

• Passenger Vehicle
• Commercial Vehicle

Key Players

• Schrader (Sensata)
• Continental
• ZF TRW
• Pacific Industrial
• Sate Auto Electronic
• Huf
• Lear
• NIRA Dynamics

Scope of the Report

The research study analyzes the global Tire Pressure Monitoring System industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Tire Pressure Monitoring System Market Report

1. What was the Tire Pressure Monitoring System Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027).

2. What will be the CAGR of the Tire Pressure Monitoring System Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Tire Pressure Monitoring System Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.