Global Market Study on Automotive Tire Pressure Monitoring System (TPMS): Regulatory Mandates in Est

Krazymedia25 Jan, 2023Business

Automotive Tire Pressure Monitoring Systems (TPMS) are active safety systems that help monitor the tire pressure of vehicles by using pressure sensors or through the wheel speed sensors of ABS/ESC systems. Batteries used in TPMS generally have a lifespan of 6 to 10 years. Moreover, the entire TPMS has to be replaced if the battery dies. The global TPMS market is estimated to be valued at US$ 11,651.2 Mn by the end of 2018 and reach US$ 23,620.5 Mn by the end of 2026, at a CAGR of 9.2% over the forecast period. The global TPMS market is anticipated to represent an incremental opportunity of US$ 11,969.3 Mn between 2018 and 2026.