Global Indirect Tire Pressure Monitoring System (iTPMS) Market by Type (Sensor-Type, ECU-Type), By Application (Passenger Vehicle, Commercial Vehicle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global indirect tire pressure monitoring system (iTPMS) market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger vehicles and commercial vehicles, and the rising awareness about vehicle safety among consumers. The global indirect tire pressure monitoring system (iTPMS) market is segmented on the basis of type, application, and region. On the basis of type, it is divided into sensor-type and ECU-type segments. The sensor-type segment dominates the global iTPMS market owing to its low cost and easy installation process as compared to ECU-type sensors. However, ECU-type sensors are expected to witness higher growth during the forecast period due to their high accuracy levels in detecting underinflated tires. On the basis of application, it is classified into passenger vehicle and commercial vehicle segments. Passenger vehicles account for a larger share in terms of revenue in this market owing to an increase in sales across developed countries such as North America and Europe . However, commercial vehicles are projectedto grow at a higher CAGR duringthe forecast period due tot he increasing demand for these vehicles across developing countries such as Chinaand India .



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Product Definition:

An indirect tire pressure monitoring system (iTPMS) is a system that uses the anti-lock braking system (ABS) or wheel speed sensors to monitor the rotational speed of each wheel. If a significant change in rotational speed is detected, it could be caused by a loss of air pressure in the tire. The iTPMS would then activate and warn the driver of an issue with one or more tires.

Sensor-Type:

The global sensor-type market size was valued at USD 3.6 billion in 2015 and is expected to witness significant growth over the forecast period. The increasing demand for automobiles, stringent government regulations, and growing awareness of tire pressure monitoring system (TPMS) are some factors that will drive the industry growth over the next seven years.

ECU-Type:

ECU-type is a standard design used in indirect tire pressure monitoring system. It is designed to measure the total pressure as well as the inflation level of tires with an accuracy of 2%. ECU-types are compact and can be easily installed on vehicle. They consist of two sensors, one for measuring tread temperature and other for measuring inflation level. The data obtained from these sensors are processed by microcomputer that provides accurate reading along with visual warning indicator lights to display the status of tires.

Application Insights:

Passenger vehicle application segment led the global market in 2017. The growth of this segment can be attributed to the rising demand for passenger vehicles in developing countries such as India, China and Brazil. Moreover, increasing penetration of TPMS-enabled tires coupled with growing awareness about safety is also expected to drive the demand for these systems over the forecast period.

Commercial vehicle application segment is anticipated to witness significant growth over the forecast period owing to increased deployment of commercial vehicles in developing countries such as India and China on account of favorable government policies promoting investments by foreign companies along with technological support from various international organizations like ADI. For instance, Automotive Development India Pvt Ltd., a joint venture between Mahindra & Mahindra Ltd.

Regional Analysis:

Asia Pacific dominated the global market in terms of revenue in 2017. The region is expected to maintain its dominance over the forecast period as well owing to increasing sales of passenger and commercial vehicles. In addition, rising disposable income levels and changing lifestyles are fueling demand for automobiles, thereby propelling regional growth.

Europe accounted for a significant share of the overall industry revenue due to high demand from countries such as Germany, France, Italy and U.K., among others. North America also contributed significantly towards industry growth owing to growing adoption by consumers preferring comfort while driving along with stringent safety norms mandated by government organizations such as NHTSA (National Highway Traffic Safety Administration) and IIHS (Insurance Institute for Highway Safety).

Growth Factors:

Increasing demand for fuel-efficient and low-emission vehicles: The global automotive market is witnessing a shift towards the production of fuel-efficient and low-emission vehicles. This is driving the demand for iTPMS, as they are essential for monitoring the tire pressure of such vehicles.
Stringent safety norms: Stringent safety norms across different countries are compelling automakers to install iTPMS in their vehicles as a standard fitment. This is further propelling the growth of the market.
Rising consumer awareness about vehicle safety: There has been a rise in consumer awareness about vehicle safety in recent years, which is boosting demand for iTPMS systems globally.
Technological advancements: The development of new technologies that can help improve accuracy and reliability of iTPMS systems is aiding market growth significantly. For instance, wireless sensors are being increasingly adopted owing to their advantages over traditional sensors such as reduced installation time and cost savings on wiring harnesses etcetera .  5) Growing number of luxury car owners: The increasing adoption of luxury cars by consumers across different regions is fuelling demand for premium quality iTPMS systems


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Scope Of The Report
Report Attributes
Report Details
Report Title
Indirect Tire Pressure Monitoring System (iTPMS) Market Research Report
By Type
Sensor-Type, ECU-Type
By Application
Passenger Vehicle, Commercial Vehicle
By Companies
Schrader (Sensata), Continental, ZF, Pacific Industrial, Huf, Baolong Automotive, Bendix, Denso, NIRA Dynamics, CUB Elecparts, Steelmate, Shenzhen Autotech, Nanjing Top Sun
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
160
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.

Global Indirect Tire Pressure Monitoring System (iTPMS) Market Report Segments:
The global Indirect Tire Pressure Monitoring System (iTPMS) market is segmented on the basis of:
Types
Sensor-Type, ECU-Type
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicle, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Schrader (Sensata)
Continental
ZF
Pacific Industrial
Huf
Baolong Automotive
Bendix
Denso
NIRA Dynamics
CUB Elecparts
Steelmate
Shenzhen Autotech
Nanjing Top Sun



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Highlights of The Indirect Tire Pressure Monitoring System (iTPMS) Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Sensor-Type
ECU-Type
By Application:
Passenger Vehicle
Commercial Vehicle
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Indirect Tire Pressure Monitoring System (iTPMS) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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Correctly Positioning New Products
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Consumer Insights
Understanding Competition Scenario
Product & Brand Management
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8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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