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(Transportation-News.com, January 28, 2016 ) The increase in vehicle sales as a result of growth in per capita income of consumers is another factor, which is driving the growth of the global tyre pressure monitoring system industry. The reduced fuel consumption, real time pressure & temperature monitoring, and increased lifespan of tyre are some of the advantages of tyre pressure monitoring system.
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The automotive safety systems have become more sophisticated, advanced, and efficient. The augmented adoption rate of automotive safety systems by the automotive industry has resulted in the reduced number of accidents and minimizes the impact of accidents on people. Tyre pressure monitoring systems (TPMS) is a device to control real time tyre pressure and temperature. It is used to monitor the air pressure inside the inflated tyres on several types of vehicles.
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North America dominated the global tyre pressure monitoring systems market in 2014. Europe is expected to dominate the global market and witness high growth in the future. The vehicles equipped with original equipment manufacturing accessories are more reliable, as compared to the after-market tyre pressure monitoring systems. The installation of safety systems, such as tyre pressure monitoring system have been made compulsory in developed countries, while the legislation in developing countries are creating higher growth opportunities. However, the high prices of TPMS are a major factor obstructing the growth of the global tyre pressure monitoring systems market.
Global Tyre Pressure Monitoring System Market Segmentation:
By Vehicle Type
• Light commercial vehicle (LCV)
• Heavy commercial vehicle (HCV)
• Passenger Vehicle
By Technology
• Direct TPMS
• Indirect TPMS
By Channel Type
• OEMs
• Aftermarket
By Region
North America
• U.S.
• Canada
• Rest of North America
Latin America
• Mexico
• Brazil
• Rest of Latin America
Western Europe
• Germany
• Italy
• France
• U.K.
• Spain
• Rest of Western Europe
Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
Asia-Pacific
• China
• India
• New Zealand
• Australia
• Rest of APAC
Middle East & Africa
• South Africa
• Rest of MEA
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