Global And China Tyre Pressure Monitoring System (TPMS) Market Size 2014, Industry Analysis, growth, Trends and Forecast Report 2014-2017: MarketResearchReports.Biz
Albany, NY (PRWEB) October 20, 2014 -- Following the United States that enforced TPMS installation laws and regulations on September 1, 2007, the EU and South Korea have also introduced similar legislations to accelerate the development of TPMS market. In 2013, the global demand for TPMS reached 29.39 million sets, with the assembly rate of up to 33.67%. With the growing prevalence of TPMS products in the EU and other regions, the global TPMS demand will hit 54.77 million sets in 2017, with the average annual growth rate of 16.83% and the assembly rate of over 50%.
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China’s recommended technical standards for TPMS came into effect on July 1, 2011 formally, but mandatory installation regulations have not been enforced. In recent years, the practical demonstration in western countries, the propaganda of manufacturers concerned and the intensified awareness of some consumers stimulated more attention to TPMS and higher market demand. The demand for OEM TPMS jumped 32.8% year on year to 2.47 million sets in 2013, with the assembly rate of 11.18% which was 1.53 percentage points higher than the figure in 2012.
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At present, Chinese TPMS is mainly installed in medium and upscale passenger cars, including all models of BMW and Audi as well as more than 80% of the models of Mercedes-Benz and Volkswagen. With the future development of the market, the assembly rate and demand will gradually increase, reaching over 20% and more than 6 million sets in 2017.
Major global TPMS suppliers include Schrader, Continental, TRW, Beru, Lear, Pacific Industrial and Hitachi Automotive Systems, especially Lear and Pacific Industrial have set up TPMS production bases in China. In July 2014, Pacific Industrial invested RMB180 million in establishing a subsidiary -- Pacific Auto Parts Technology (Changshu) Co., Ltd. to produce TPMS. The production is expected to be attained in April 2016.
In China, local enterprises such as Kysonix, Baolong, Topsystm, Top Sun, Hangsheng, Steelmate, Autotech and Sate Auto play leading roles. Kysonix introduces technology from LIONAX INC. and TYRESONIC INC. in the United States, with the annual capacity of 100,000 sets. Baolong can produce 60,000 TPMS transmitters and 40,000 sets of TPMS system annually, primarily serving Tesla Motors and Dongfeng Nissan.
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