Global Tire Pressure Monitoring System Market 2016-2020
About Tire Pressure Monitoring System
TPMS is an electronic system that is designed to provide real-time information about tire pressure by monitoring the air pressure inside tires. The system basically has a tire pressure monitor sensor that consists of a sensor chip. The sensor chip comes with an integrated µ-controller and a transmitter that are designed to send alert signals to the driver in case of low pressure. Lithium-ion batteries usually power these sensors. TPMS help increase fuel efficiency by actively monitoring the tire pressure, which plays a key role in vehicle efficiency. In terms of technology, TPMS can be classified into two categories: direct and indirect TPMS. Direct TPMS provide real-time information on the tire pressure by using pressure monitoring sensors within tires; whereas, indirect TPMS measure and monitor the tire pressure by receiving inputs from the speed sensors installed in anti-lock braking system (ABS) of the vehicle.
Technavio’s analysts forecast the global tire pressure monitoring system market to grow at a CAGR of 14.94% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global tire pressure monitoring system market for 2016-2020. To calculate the market size, the report considers analysis of three geographic regions and explicitly states key leading countries in the respective regions as per the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tire Pressure Monitoring System Market 2016-2020
Technavio recognizes the following companies as the key players in the global tire pressure monitoring system market: Continental, DENSO, NXP, WABCO, and ZF TRW.
Other prominent vendors in the market are: Infineon Technologies, Pacific Industrial, and Schrader Electronics.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is development of powerful MEMS sensors and speed sensing instruments for accuracy and precision. Sensor technology has played a crucial role in the design and development of ADAS as they form a fundamental part of the systems. Sensors and processors are the primary system components that perform the function of monitoring and processing of the vehicle data. A few automotive players are working on new tire pressure monitoring technologies that use micro-electromechanical systems (MEMS) sensors that are designed to accurately measure the pressure and temperature in the tire.”
According to the report, one of the primary drivers in the market is reduction in fuel consumption and carbon emissions from vehicles. Advance automotive technologies are aimed at making the driving experience safer, comfortable, and convenient in addition to making them eco-friendly in nature. Rolling resistance from tires plays a crucial role in delivering the optimum fuel efficiency and level of exhaust emission from the vehicle. It has been found that low pressure in the tire leads to high rolling resistance. According to industry experts, with every 1 bar pressure drop in the tire from the stipulated value, the rolling resistance of tire increases by 20%-25% in passenger vehicles. A higher rolling resistance leads to increased fuel consumption by the engine, which results in significant reduction of the vehicle’s fuel efficiency. In addition to this, an underinflated tire also leads to more carbon emissions from the exhausts. According to experts, an improperly inflated tire can lead to 5%-10% increase in carbon emissions on an average, depending upon the type of vehicle.
Further, the report states that one major challenge in the market is inaccuracy of electronic sensors and functional failure of the system. Various TPMS-related issues have led to the failure of the automotive safety systems in critical situations. The failure of electronic sensors and sometimes the use of defective electronic sensors often cause fatal accidents. For instance, the sudden turning off of the ignition disables the engine and thus TPMS. There have been occurrences of functional errors, in which the automobile manufacturers have had to recall their vehicles, in turn damaging their brand image. For instance, Chrysler recalled its Dodge Charger SRT8s and Chrysler 300 SRT8s in 2012 because of technical and electronic defects with the TPMS. According to NHTSA, the TPMS of the affected vehicles failed to meet the requirements of the Federal Motor Vehicle Safety Standard No. 138 (i.e., the system did not warn the driver when the tire pressure was below 25% of the recommended pressure).
Continental, DENSO, NXP, WABCO, ZF TRW, Infineon Technologies, Pacific Industrial, Schrader Electronics.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook