Legislation of Safety Mandates Drives the Global Tire Pressure Monitoring Systems Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Tire Pressure Monitoring Systems (TPMS) markets. The global market for Tire Pressure Monitoring Systems (TPMS) is projected to reach US$2.6 billion by 2018, driven by legislations mandating the installation of TPMS in passenger cars and increasing awareness over benefits offered such as fuel efficiency, and protection against premature wear and tear of tires.

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Tire Pressure Monitoring Systems (TPMS): A Global Strategic Business Report

San Jose, CA (PRWEB) November 25, 2013

Follow us on LinkedIn – Against the backdrop of an era of intelligent mobility and unrelenting pursuit of vehicle safety, poised to gain are intelligent automotive technologies that revolve around safety, comfort and convenience. Primary among them is Tire Pressure Monitoring Systems (TPMS) which possess the potential to avert accidents caused by over-inflated and under-inflated tires. Several legislations already in place like in the United States and in Europe have helped shape growth patterns in the TPMS market, over the last couple of years. Governments around the world are focusing on legislating active road safety measures, given the rise in the number of road accidents worldwide. TPMS in the United States has witnessed substantial growth following the enforcement of TREAD Act legislation that mandate installation of TPMS in all new cars. The market in Europe has also been witnessing robust growth following the strict implementation of TPMS installations in high-end and middle range vehicle models. The latest enforcement of the directive proposal imposing mandatory adoption of TPMS in M1 category of vehicles is fostering growth in the market.

Growing consumer emphasis on fuel efficiency, compounded by government push towards reducing vehicular emissions is also throwing the spotlight on TPMS. Rising fuel prices has additionally brought the focus of vehicle owners squarely on fuel efficiency. Low tire pressure results in millions of gallons of fuel wastages each year. Under inflated tires create excess pressure on the casing of the tire, increasing the rolling resistance of vehicles, and increasing both wear and tear of the tire and fuel consumption. The quest for fuel efficiency therefore offers a strong business case for TPMS.

Direct TPMS is forecast to witness strong gains in the market as compared to Indirect TPMS. Most indirect TPMS which are factory fitted are designed to detect tire deflation using the vehicle’s anti-lock braking system (ABS). Although cheaper than direct TPMS, indirect TPMS have numerous pitfalls, such as inability to measure the actual drop in tire pressure and pinpoint the specific wheel with low air pressure. Direct TPMS, in comparison, are expensive and are designed to be directly installed on the wheel. The sensor mounted onto the valve of each tire identifies low tire pressure, and sends a dashboard alert when pressure dips below 25% of manufacturer recommended levels. Direct TPMS systems are also more capable of meeting the stringent NHTSA requirements. Despite its higher cost, direct TPMS dominates the market supported largely by stringent legislations, which has in effect changed the market from a value proposition business to a commodity business.

Also, concerns over fatal crashes triggered by inadequate tire inflation is bringing into the spotlight TPMS for aircraft. TPMS for aircraft tires is attracting immense interest, given that properly inflated tires help save fuel, absorb static and dynamic stresses and shocks during landing and take offs, and prevent hazardous failures. Tire failures can result in loss of aircraft control, and can heighten the risk of failure of the entire wheel assembly. Technology innovation currently ranks high in the aircraft TPMS market with current innovations revolving around the development of wireless sensors for direct integration into the tire system. These wireless pressure sensors are being engineered as battery-free passive RFID wireless sensing system architectured around ASIC (Application Specific Integrated Circuit).

As stated by the new market research report on Tire Pressure Monitoring Systems (TPMS), the United States represents the largest regional market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with revenues from the region poised to grow at a CAGR of about 8.4% over the analysis period. Changing societal values, and priorities, against a backdrop of new environmental and economic realities will drive the automotive industry’s broader vision of accident-free driving, thus providing ample opportunities for growth of TPMS systems.

Major players in the market include Advantage PressurePro LLC, ALLIGATOR Ventilfabrik GmbH, Bartec USA LLC, Bendix Commercial Vehicle Systems LLC, Bosch Automotive Technology, Continental AG, Delphi Automotive LLP, Dill Air Control Products, Doran Manufacturing LLC., Dunlop Tech GmbH, GE Measurement and Control, Hella Ireland Limited, Huf Electronics Bretten GmbH, Johnson Controls Inc., Murata Electronics Oy, NIRA Dynamics AB, Orange Electronic North America, Pacific Industrial Co. Ltd., Schrader Electronics Ltd., Silicon Microstructures Inc., Standard, Transense Technologies Plc., and TRW Automotive Holdings Corp.

The research report titled “Tire Pressure Monitoring Systems (TPMS): A Global Strategic Business Report” announced by Global Industry Analysts Inc. provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for Tire Pressure Monitoring Systems in US dollars for all major geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, South Korea, and Rest of Asia-Pacific), and Rest of World.

For more details about this comprehensive market research report, please visit http://www.strategyr.com/Tire_Pressure_Monitoring_Systems_TPMS_Market_Report.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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