The global automotive tire pressure monitoring systems market is anticipated to grow at a considerable CAGR during the forecast period. The presence of key players in the automotive tire pressure monitoring systems market such as Continental AG, Bridgestone Americasinc., Tire Operations LLC,DENSO Corp., Delphi Automotive LLP, Valor, ALLIGATOR Ventilfabrik GmbH, Advantage PressurePro Enterprises Inc., Huf Group, Ruia Group, NIRA Dynamics AB, Bartec USA LLC, and Advanced Vehicle Electronic Technology Co., Ltd. among others is anticipated to make a huge contribution towards the growth of the global market.
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These market players are actively engaged in adopting different growth strategies such as new product launch, expansion of product portfolio, collaboration, and mergers & expansion to promote the growth of the global automotive tire pressure monitoring market during the forecast period.
For instance,in August 2019, JK Tyre and Industries Ltd. launched India’s first ‘Smart Tyre’ technology equipped with TREEL sensors for smart monitoring and maintenance of tires. The product launch marks JK Tyre’s entry into the arena of connected mobility for both commercial and passenger vehicles. This has been possible after the company’s recent acquisition of TREEL Mobility Solutions Pvt Ltd. The company has introduced a Tyre Pressure Monitoring System that is based on smart tire technology. The data collected from the pressure sensors is sent to the owner’s mobile phone via Bluetooth and can be accessed easily through the use of a mobile phone for the easy rectification of any issues before they lead to a mishap on the road.
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In January 2018, Bridgestone Americas, Inc. launched PressureStat, a tire pressure monitoring system launched for off-the-road (OTR) tires in the construction, quarry, underground hard rock, and port industries. With this product launch the company intends to expand the company’s product portfolio of automotive solutions. The PressureStat system is easy to use pressure monitoring system. The use of the PressreStat system provides timely access to important tire pressure and temperature data. Thus, in this way it facilitates the customers to accurately manage tire pressure on a real-time basis.
In April 2017, Pressure Systems International acquired Truck System Technologies, a provider of tire pressure monitoring and mobile asset management systems technology. This acquisition was done by the company to enhance the capabilities of the company in producing the automotive tire pressure monitoring system market. As a result of this acquisition, in November 2018, Pressure Systems International had launched Tire View. Tire View is a robust tire pressure monitoring system designed for the utility in the commercial vehicle segment.
Global Automotive Tire Pressure Monitoring System Market
By Technology
- Indirect Tire Pressure Monitoring
- Direct Tire Pressure Monitoring
By Type of Vehicle
- Commercial Vehicle
- Passenger Cars
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