Tire Pressure Management Systems Market
is set to grow at a significant CAGR during the forecast period. Engineering
innovations have turned tire industry to enjoy a higher competitive advantage.
Tire-pressure optimization techniques thus present a novel opportunity to offer
an all-inclusive and smart solutions to the commercial vehicle industry. The
tire pressure management systems consistently perform the system to ensure that
every tire is properly inflated to a steady pressure along with accompanying
tires.
Tire pressure management system market is driven by rise in
regulatory framework for installation of tire pressure management systems in
developed economies followed by growth in automotive industry that supplements
the market growth. Increasing adoption of tire pressure management systems by
automotive companies is more likely to create lucrative opportunities during
the forecast period.
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By type, the tire pressure management systems industry
segmentation comprises direct and indirect. Direct segment accounts for a
higher market share during the forecast period. Vehicle type segmentation for
tire pressure management system market comprises car, light commercial vehicle
and heavy commercial vehicle. Light commercial vehicle dominates the market
growth owing to increase in market value share.
By sales channel, the market segmentation comprises OEM and
aftermarket. OEM segment is estimated to rise at a higher CAGR owing to rise in
volume of demand. Aftermarket segment is expected to gain a higher traction in
the forthcoming years.
Geographical segmentation for tire pressure management
system industry spans North America, South America, Europe, Asia-Pacific,
Middle East and Africa. North America market is anticipated to rise at a higher
rate owing to presence of technological infrastructure and key players. The
rise in competitive edge between U.S. and APAC market leads the market to
witness new opportunities in this phase.
The key players profiled in the tire pressure management
systems market report are ATEQ, Continental AG, WABCO, Sensata Technologies
Inc, Pacific Industrial Co Ltd, Hamaton Automation Technology, Denso
Corporation, NIRA Dynamics AB, Bendix Commercial Vehicles Systems LLC, Dunlop
Tech GmbH, Bartec USA LLC.
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Market split by Type,
can be divided into:
• Direct TPMS
• Indirect TPMS
Market split by
Application, can be divided into:
• Passenger Car
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
Market split by Sales
Channel, can be divided into:
• Direct Channel
• Distribution Channel
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