Automotive Tire Pressure Monitoring System Market is valued at USD 5.91 Billion in 2021 and expected to reach USD 11.38 Billion by 2028 with a CAGR of 9.81% over the forecast period.
ATPMS equipped tires to charge a little more to maintain than non–equipped tires due to the necessity of proper care requires extra parts and labor. The valve service kit, which includes the valve core, cap, nut and o–ring (seal), must always be replaced when a tire is dismounted for service or replacement. A special ATPMS tool and additional time are also needed to check and reset the sensor system.
ATPMS notifies user when vehicle’s tire pressure is low or is going flat. By helping maintain proper tire pressure, ATPMS can increase safety on the road by improving vehicle’s handling, decreasing tire wear, reducing braking distance and bettering fuel economy, most of vehicles made after 2006 to be ATPMS–equipped. Automotive Tire Pressure Monitoring System (ATMPS) is an electronic system in vehicle that monitors tire air pressure and alerts user when it falls dangerously low.
The report classifies and defines the automotive tire pressure monitoring system market volume and value. The report also gives a comprehensive review of the market drivers, restraints, opportunities, challenges, and key issues in automotive tire pressure monitoring system market. The key players in the market have been identified and profiled.
Automotive Tire Pressure Monitoring System Market 2022-2028: The forecast period is expected to show significant growth in the Global Automotive Tire Pressure Monitoring System Market. There will be a new resurgence in the sales and utilization of Automotive Tire Pressure Monitoring System. Are you ready to cope up with growing market? No, then have a look at our report overview and send your query to us. Along with these leading players, there are Schrader Electronics, Infineon Technologies, Pacific Industrial and other small, mid-sized players who are coming with huge investment and innovative product launch in the automotive tire pressure monitoring system industry.
The report covers the markets for Automotive Tire Pressure Monitoring System in terms of volume and value. The market volume is provided in terms of thousand units; whereas the value for the market is provided in terms of USD Billion from 2022-2028. The geography (Asia-Pacific, Europe, America& ROW) focusing on key countries in each region.
The future of the global Automotive Tire Pressure Monitoring System market looks good with opportunities in the segments of commercial vehicle and passenger car. The major drivers of growth for this market are increasing vehicle production, increasing demand for driving safety and reliability, reduction in fuel consumption.
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 5.91 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 11.38 Billion
|Tables, Charts & Figures:
|Autoliv, Inc., Robert Bosch GMBH, Continental Ag, Delphi Automotive PLC, Denso Corporation, Omron Corporation, Takata Corporation, TRW Automotive, Valeo S.A., Magna International Inc., Hamaton Automotive Technology Co., Ltd., Hitachi Astemo,Ltd., InnotechRV (WiPath Communications LLC.), Pacific Industrial Co. Ltd., Renesas Electronics Corporation, Sensata Technologies Inc., The Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, and others.
|By Type, By Application
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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