Dublin, June 03, 2022 (GLOBE NEWSWIRE) — The “Global Tire Sensor Market, By Product Type, Sales Channel, Vehicle & By Region – Forecast and Analysis 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global tire sensor market was valued at USD 6,638.85 Million in 2021, and it is expected to reach a value of USD 11,381.43 Million by 2027, at a CAGR of more than 9.40% over the forecast period (2022 – 2027).
A tire-pressure monitoring system (TPMS) is an electronic system designed to monitor the air pressure inside the pneumatic tires on various types of vehicles. A TPMS reports real-time tire-pressure information to the driver of the vehicle, either via a gauge, a pictogram display, or a simple low-pressure warning light. TPMS can be divided into two different types – direct (dTPMS) and indirect (iTPMS). TPMS are provided both at an OEM (factory) level as well as an aftermarket solution. The goal of a TPMS is to avoid traffic accidents, poor fuel economy, and increased tire wear due to under-inflated tires through early recognition of the hazardous state of the tires.
With more and more people being able to afford cars all over the world, the safety of cars is a rising concern. Even in markets like India, which used to have some of the lowest safety standards, car manufacturers have started offering Tire Pressure Monitoring System (TPMS) as an optional fitment. There is a lot of innovation going on in the TPMS space. Like the case of tire maker…
