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(USGovernment-News.Com, January 28, 2016 ) The increase in vehicle sales as a result of growth in per capita income of consumers is another factor, which is driving the growth of the global tyre pressure monitoring system industry. The reduced fuel consumption, real time pressure & temperature monitoring, and increased lifespan of tyre are some of the advantages of tyre pressure monitoring system.
The automotive safety systems have become more sophisticated, advanced, and efficient. The augmented adoption rate of automotive safety systems by the automotive industry has resulted in the reduced number of accidents and minimizes the impact of accidents on people. Tyre pressure monitoring systems (TPMS) is a device to control real time tyre pressure and temperature. It is used to monitor the air pressure inside the inflated tyres on several types of vehicles.
North America dominated the global tyre pressure monitoring systems market in 2014. Europe is expected to dominate the global market and witness high growth in the future. The vehicles equipped with original equipment manufacturing accessories are more reliable, as compared to the after-market tyre pressure monitoring systems. The installation of safety systems, such as tyre pressure monitoring system have been made compulsory in developed countries, while the legislation in developing countries are creating higher growth opportunities. However, the high prices of TPMS are a major factor obstructing the growth of the global tyre pressure monitoring systems market.
Global Tyre Pressure Monitoring System Market Segmentation:
By Vehicle Type
Light commercial vehicle (LCV)
Heavy commercial vehicle (HCV)
Passenger Vehicle
By Technology
Direct TPMS
Indirect TPMS
By Channel Type
OEMs
Aftermarket
By Region
North America
U.S.
Canada
Rest of North America
Latin America
Mexico
Brazil
Rest of Latin America
Western Europe
Germany
Italy
France
U.K.
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia-Pacific
China
India
New Zealand
Australia
Rest of APAC
Middle East & Africa
South Africa
Rest of MEA
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