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Asia Pacific Automotive TPMS Market - Forecasts and Trends (2020 - 2025)

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The Asia-Pacific automotive TPMS market is poised to grow at a CAGR of over 18.65% till 2022. The market in the countries from the Asia-Pacific region is expected to witness the highest growth rate in the global automotive TPMS market. TPMS is an electronic system designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. In addition, TPMS warns the driver about the number of tires that are underinflated.

Asia-Pacific Automotive TPMS Market- Market Dynamics

Factors such as adoption of safety regulations by governments/agencies in the Asia-Pacific countries and the increase in the vehicle sales and safety installations for each vehicle are helping to accelerate the demand for automotive TPMS and other allied safety system in the region.

Drivers

The increasing demand from the developing and emerging markets such as India, Thailand, and China, due to their increase in demand for automobiles (especially luxury vehicles) and new TPMS regulations in China and South Korea are expected to positively affect the growth of the market. In addition, in developed economies such as Australia and Singapore, the safety systems adopted in compact/mid-sized vehicles are comparable to those available in Europe and North America. For the Australian market, the TPMS systems featured in automobiles are driven significantly by the high level of safety awareness among the local population.

Tire blowouts because of underinflated and overinflated tires result in accidents and fatalities. The rising concern for passenger and automobile safety has compelled governments across the region to implement safety regulations (for instance, the weekly safety assessment program by C-NCAP). Appropriately inflated tires also help to improve the fuel efficiency of the vehicle. The demand for fuel-efficient vehicles from the Asia-Pacific countries would also help to drive the automotive TPMS market in the region.

The direct TPMS is expected to dominate the Asia- Pacific market, and would significantly help to drive the TPMS market in the region. This is due to the inherent functional advantages provided by the direct sensors. The premium segment of passenger vehicles would constitute the highest share in the automotive TPMS market. The OEMs have shifted focus to implementing more safety features, although mandatory TPMS regulations are not prevalent in Asia-Pacific countries, which is due to the means of attaining product differentiation from the other mid-segment vehicles and also exploiting the improved economic conditions of the region. However, the functional errors in TPMS deter consumers from placing faith in such types of new technology. Awareness of TPMS among consumers has been low in the region and the only installations have been in OEM-fitted vehicles. However, with the growing safety concerns among consumers, and with the development of programmable and easily configurable TPMS systems, the demand for entry-level vehicles equipped with safety features is increasing, thereby boosting the demand for electronic TPMS and TPMS sensors in Asia-Pacific region.  

The report segments the market by type, end user segment, vehicle type, and country.

 Some of the key players in the market are:

  • Delphi Automotive LLC
  • Denso
  • Omron
  • Tataka
  • Valeo
  • ZF TRW

What the Report Offers

  • Market definition along with identification of key drivers and restraints for the market.
  • Market analysis with country-specific assessments and competition analysis in the Asia-Pacific TPMS market.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on the regional scale and at the country level.
  • Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
  • Identification and analysis of the macro and micro factors that affect the industry on both global and regional scale

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