Tire Pressure Monitoring System Market: Poised for Significant Growth, Expected to Reach $12.32 billion by 2031

Increase in sales of automobiles to drive the growth of the global tire pressure monitoring system market

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, June 28, 2024 /EINPresswire.com/ -- The 𝐓𝐢𝐫𝐞 𝐏𝐫𝐞𝐬𝐬𝐮𝐫𝐞 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market. The global tire pressure monitoring system market was valued at $5.32 billion in 2021, and is projected to reach $12.32 billion by 2031, growing at a CAGR of 8.6% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A07166

The report offers detailed segmentation of the global tire pressure monitoring system market based on type, sales channel, vehicle type, propulsion, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

There are prominent key factors that drive growth of the tire pressure monitoring system market, such as increase in demand for safety features, growth in implementation of electronic systems in vehicles, and technological advancements related to tire pressure management. The market economy is also responsible for growth of the TPMS market. Countries such as China, India, Brazil, and South Africa are growing economies. Thus, the manufacturing sector witnesses prominent growth in these countries, which is expected to provide lucrative opportunities for growth of the automotive industry and is expected fuel the automotive TPMS market.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

𝐇𝐢𝐭𝐚𝐜𝐡𝐢 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐭𝐝, 𝐒𝐞𝐧𝐬𝐚𝐭𝐚 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐈𝐧𝐜., 𝐙𝐅 𝐅𝐫𝐢𝐞𝐝𝐫𝐢𝐜𝐡𝐬𝐡𝐚𝐟𝐞𝐧 𝐀𝐆, 𝐃𝐞𝐥𝐩𝐡𝐢 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐋𝐋𝐏, 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐂𝐨. 𝐋𝐭𝐝., 𝐑𝐞𝐧𝐞𝐬𝐚𝐬 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐇𝐮𝐟 𝐇ü𝐥𝐬𝐛𝐞𝐜𝐤 & 𝐅ü𝐫𝐬𝐭 𝐆𝐦𝐛𝐇 & 𝐂𝐨. 𝐊𝐆, 𝐕𝐀𝐋𝐄𝐎, 𝐈𝐧𝐧𝐨𝐓𝐞𝐜𝐡𝐑𝐕, 𝐎𝐫𝐚𝐧𝐠𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜 𝐂𝐨., 𝐋𝐭𝐝., 𝐇𝐚𝐦𝐩𝐭𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐂𝐨. 𝐋𝐭𝐝, 𝐍𝐈𝐑𝐀 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐀𝐁, 𝐃𝐄𝐍𝐒𝐎 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐇𝐀𝐌𝐀𝐓𝐎𝐍, 𝐂𝐎𝐍𝐓𝐈𝐍𝐄𝐍𝐓𝐀𝐋 𝐀𝐆, 𝐑𝐎𝐁𝐄𝐑𝐓 𝐁𝐎𝐒𝐂𝐇 𝐆𝐌𝐁𝐇, 𝐓𝐡𝐞 𝐆𝐨𝐨𝐝𝐲𝐞𝐚𝐫 𝐓𝐢𝐫𝐞 & 𝐑𝐮𝐛𝐛𝐞𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐲

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/8ceee926bc302e7a91f6a72b5432efe4

Based on vehicle type, the passenger vehicles segment held the largest market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The heavy commercial vehicles segment, on the other hand, is expected to cite the fastest CAGR of 9.3% during the forecast period.

Based on sales channel, the OEM segment held the largest market share in 2021, holding nearly 90% of the global market, and is expected to maintain its leadership status during the forecast period. The aftermarket segment, on the other hand, is expected to cite the fastest CAGR of 11.8% during the forecast period.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, the market across Europe held the dominating Tire Pressure Monitoring System Market share in 2021, holding more than one-third of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 9.5% during the forecast period. The report also includes regions such as North America, Asia-Pacific, and LAMEA.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A07166

Based on type, the Direct Tire Pressure Monitoring System segment held the largest market share in 2021, holding more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 9.0% during the forecast period. The market also analyses other segments such as the Indirect Tire Pressure Monitoring System.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Utility Vehicle Market - https://www.alliedmarketresearch.com/utility-vehicle-market-A12422

Body Control Modules (BCM) Market - https://www.alliedmarketresearch.com/body-control-modules-bcm-market

Electric Vehicle Motor Market - https://www.alliedmarketresearch.com/electric-vehicle-motor-market

Automotive Diagnostics Market - https://www.alliedmarketresearch.com/automotive-diagnostics-market-A13069

Advanced Driver Assistance Systems (ADAS) Market - https://www.alliedmarketresearch.com/ADAS-market

David Correa
Allied Market Research
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