Irving, TX, September 22, 2016 --(PR.com
)-- According to a new market report published by Lucintel, the future of the global automotive TPMS market looks attractive with opportunities in the passenger car and light commercial vehicle. The global automotive TPMS market is expected to reach an estimated $3.4 billion by 2021 at a CAGR of 12.6% from 2016 to 2021. The major drivers of growth for this market are increasing passenger car production and government regulations on vehicle safety systems.
By product type, direct and indirect TPMS are used. Direct TPMS uses pressure monitoring sensors within each tire of the vehicle, while indirect TPMS measures air pressure using the wheel speed sensor. Direct TPMS is the major segment by product type of global automotive TPMS market. On the basis of its comprehensive research, Lucintel forecasts that indirect TPMS is expected to show above average growth during the forecast period due to low installation cost.
Within the global automotive TPMS market, the mid-size car segment is expected to remain as the largest market during the forecast period. Increase in passenger car production is expected to spur growth for this segment over the forecast period.
North America is expected to remain the largest region due to high penetration of TPMS in passenger car and light commercial vehicle.
Asia Pacific is expected to witness significant growth over the forecast period because of government regulations which will enforce TPMS in all passenger cars in China and India.
For business expansion, report suggests innovation and new product development to produce low cost universal TPMS sensor. The report further suggests the development of closer partnerships with customers and the development of low-cost solutions.
Emerging trends, which have a direct impact on the dynamics of the industry, includes development of universal TPMS sensor and introduction of integrated direct TPMS. Sensata Technologies Inc, Continental AG, Pacific Industrial Co. Ltd, ZF TRW Automotive Holding Corporation and Huf Electronics are the major TPMS suppliers in the global automotive TPMS market. Some companies are also pursuing mergers and acquisitions as strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive tire pressure monitoring system market by product type, vehicle type, by end user, and region, and has come up with a comprehensive research report, “Growth Opportunities in the Global Automotive TPMS Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive tire pressure monitoring system market by product type, vehicle type, by end user, and region, as follows:
By Product Type [Volume (Million Sets) and $M shipment analysis for 2010 – 2021]
· Direct TPMS
· Indirect TPMS
By Vehicle Type (Million Sets from 2010 to 2021)
· Small Car
· Mid-size Car
· Large Car
· Light Commercial Vehicle
By End User [Volume (Million Sets) and $M shipment analysis for 2010 – 2021]
By region [Volume (Million Sets) and $M shipment analysis for 2010 – 2021]
· North America
· Asia Pacific
· Rest of the World
This 169-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Capital Investment Analysis, Strategic Growth Consulting and Due Diligence.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q. 1 What are some of the most promising, high-growth opportunities for automotive TPMS market by product type (Direct and Indirect TPMS), vehicle type (Small car, Mid-size car, Large car, Sports/Unclassified and Light Commercial Vehicle), end user (OEM and Aftermarket), and region (North America, Europe, APAC and Rest of the World)?
Q. 2. Which segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats of this market?
Q.6. What are emerging trends in this market and reasons behind them?
Q.7. What are some changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. How is the competitive rivalry and threat of substitution in this market?
Q.11. What are M&A activities in the last 5 years in this market? What reasons to these activities and how have they impacted the industry?