Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Tire Pressure Monitoring System Market PR 130319

Global Tire Pressure Monitoring System Market projected to increase at 7%
CAGR between 2017 and 2023 due to growing demand for vehicle safety
Tire Pressure Monitoring System (TPMS) Share, Size, Trends, And Business Opportunity
Analysis Report 2019 include historic data, with forecast data to 2023. Tire Pressure Monitoring
System (TPMS) Market report is helpful for future strategy development, and to know about
Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key
players forecast to 2023.
Tire Pressure Monitoring System (TPMS) is growing due to the automotive industry going for
better safety measures in vehicles. Market Research Future (MRFR) has published a research
report about the global tire pressure monitoring system market that projects increase for this
market at 7% CAGR (Compound Annual Growth Rate) between 2017 and 2023.
The vital factor pushing the tire pressure monitoring system market growth is the introduction of
some strict government regulations. Such regulations mandate the need for curbing vehicular
emissions and improving the fuel efficiency of the vehicle. Other factors aiding the progress of
the market include increasing adverse effects of greenhouse gases and deteriorating air quality.
The growth of the automotive industry is also playing an important role in the growth of the
TPMS market. Factors aiding the automotive industry include an increase in demand for high-
end luxury cars, and rising economic as well as environmental policies.
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Finally, the market for TPMS is growing due to the growth of the automotive aftermarket that is
a result of customers for the adoption of advanced safety systems such as anti-brake systems,
electronic stability control, and tire pressure indicators.
The global tire pressure monitoring system market has been segmented on the basis of
technology, sales channel, vehicle type, and lastly, region. The technology-based segmentation
segments this market into direct TPMS and indirect TPMS. Direct TPMS is defined as the use of
a pressure sensor directly mounted on the tires of a vehicle. Indirect TPMS do not have air
pressure sensors inside the tires, and they detect a low tire by comparing relative wheel speeds
via the anti-lock brake system (ABS) wheel speed sensors.
Regarding sales channels, the market has been segmented into the original equipment
manufacturer (OEM) and aftermarket. the market for accessories, components, and spare parts
for motor vehicles is defined as aftermarket. By vehicle type, the market can be segmented into
passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Light
commercial vehicles are used for transferring lightweight raw materials for the production of
goods or finished goods to the retailers. Heavy commercial vehicles are used for transferring
heavy items. The passenger vehicle is useful for traveling and commuting.
The regional segmentation of the global tire pressure monitoring system market can segment the
market into the regional markets known as North America, Asia Pacific, Europe, and the rest of