Tire Pressure Monitoring Systems (TPMS): A Global Strategic Business Report
San Jose, California (PRWEB) March 04, 2015
Follow us on LinkedIn – Given the rise in automobile accidents either due to error in judgment on part of the driver or due to mechanical failures caused by poor maintenance, automotive safety technologies are rising in popularity. The growing consumer emphasis on safety and the renewed focus of automobile manufacturers on enhancing safety features are catalyzing the growth of automotive safety technologies. Also, adherence to international safety standards has received due importance from auto OEM majors as they strive to achieve customer satisfaction. Over the years, safety technologies have evolved from passive safety techniques designed to react and mitigate effects after the occurrence of accident to active safety measures that aim at proactively preventing accidents. As an active safety system designed to prevent accidents caused by over-inflated and under-inflated tires, Tire Pressure Monitoring Systems have been growing in prominence in the automotive industry.
In the United States, the TREAD Act has played an instrumental role in shaping growth. In Europe, a similar legislation that imposes mandatory adoption of TPMS in M1 category of vehicles is helping foster demand for TPMS in the OEM market. Growing consumer emphasis on fuel efficiency, compounded by the government’s push towards reducing vehicular emissions will also continue to spur growth in demand for TPMS. Low tire pressure results in millions of gallons of fuel wastages each year. Under inflated tires tend to increase both wear and tear of the tire and fuel consumption. The quest for fuel efficiency therefore offers a strong business case for TPMS. In addition, technology innovation involving the development of programmable and configurable TPMS systems will also benefit market growth.
Primarily a regulatory driven market, demand for TPMS will grow strongly supported by the expected improvement in auto production after a period of slowdown between 2013 & 2014. Improving economic climate in the United States and Europe, growth in developing markets such as India, and predominance of Chinese economy despite relative slowdown in recent times, will help revive the automotive industry in the coming years. The growing demand for new automobiles, particularly in India and other developing markets in Asia-Pacific will fuel growth in automotive production thus lending traction to TPMS integration in the coming years. Although mandatory TPMS legislations are yet to be implemented in most parts of Asia-Pacific, proactive integration of TPMS by auto OEMs as a means to achieve product differentiation will drive demand in the coming years.
TPMS has enjoyed high OE installation rates in the United States since 2007. Future growth in the country is forecast to come from the huge replacement demand, supported by the fact that the average life of TPMS ranges from 5-10 years. Direct TPMS will continue 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 drawbacks 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.
As stated by the new market research report on Tire Pressure Monitoring Systems, the United States represents the largest regional market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 13.9% over the analysis period, led by new TPMS regulations in South Korea, and the growing demand for full featured, high-end luxury cars in countries such as China and India.
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 click here
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