The report “Global Automotive TPMS Market, By Type (Direct TPMS, and Indirect TPMS), By Sales Channel Type(OEM, and Aftermarket), By Vehicle Type(Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Region – Global Forecast to 2030″ global automotive TPMS market is projected to grow from US$ 1.02 billion in 2019. The major drivers of growth for this market are increasing vehicle production, increasing demand for driving safety and reliability, reduction in fuel consumption. Consumer preference toward advanced driver assistance systems, with safety acting as a major propellant for the growth of the automotive TPMS market. Whereas, the emergence of sales is expected to offer lucrative growth opportunities to the target market
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- In February 2019, Continental AG introduced the VDO TPMS Go device, which can be programmed for all common sensors for cars.
- In September 2019, Bartec USA launched its latest TPMS, RITE-SENSOR.
Key Market Insights from the report:
The global automotive TPMS market accounted for US$ 1.02 billion in 2019 and is projected to register a moderate CAGR of 15.25% over the forecast period. The market report has been segmented on the type, sales channel type, vehicle type, and region.
- By type, the direct TPMS is dominating in this segment as it delivers accurate pressure for every tire.
- By sales channel type, the aftermarket is expected to account the highest revenue due to increasing awareness of the TPMS.
- By vehicle type, passenger type is expected to dominate in this segment. With TPMS fitted in a majority of these vehicles, the passenger vehicle segment is poised to drive the market.
- By region, Asia-Pacific is projected to lead the global automotive TPMS market and is expected to remain dominant during the forecast period, due to the increased adoption rate of such systems.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Automotive TPMS Market”, By Type (Direct TPMS, and Indirect TPMS), By Sales Channel Type (OEM, and Aftermarket), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and by Region – global forecast till 2030
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The prominent player operating in the global automotive TPMS market includes ZF Friedrichshafen AG, Continental AG, Bartec USA, Sensata Technologies, Inc., Huf Hulsbeck & Furst GmbH & Co. KG, Automotive Technology Co. ltd., Rivigo Services, Denso Corporation, Dunlop Tech GmbH, Pacific Industrial CO. Ltd.
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