Commercial Vehicle Tire Pressure Management System Market to Grow by USD 207.23 Million in 2021-2025, AB SKF and Bendix Commercial Vehicle Systems LLC to Emerge as Key Contributors to Market Growth | Technavio
NEW YORK, July 23, 2021 /PRNewswire/ -- The Commercial Vehicle Tire Pressure Management System Market report has been added to Technavio's offering. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Our client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
The commercial vehicle tire pressure management system market is poised to grow by USD 207.23 million during 2021-2025, progressing at a CAGR of 6.77% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a Low impact on the commercial vehicle tire pressure management system market.
Frequently Asked Questions:
- Based on segmentation by end-user, which is the leading segment in the market?
The OEMs segment is expected to be the leading segment based on end-user in the global market during the forecast period.
- What are the major trends in the market?
Rising accidents related to improperly inflated tires, leading to growing awareness about TPMS are some of the major trends in the market.
- At what rate is the market projected to grow?
Growing at a CAGR of 6.77%, the incremental growth of the market is anticipated to be USD 207.23 million.
- Who are the top players in the market?
AB SKF, Bendix Commercial Vehicle Systems LLC, Continental AG, Dana Inc., Doran Manufacturing LLC, FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG, NXP Semiconductors NV, SENSATA TECHNOLOGIES HOLDING PLC, The Goodyear Tire & Rubber Company, and ZF Friedrichshafen AG are some of the major market participants.
- What are the key market drivers and challenges?
Discount in insurance premium for adoption of vehicle safety system like TPMS is one of the major factors driving the market. However, the high cost associated with direct TPMS.restraints the market growth.
- How big is the North America market?
The North America region will contribute to 32% of market growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB SKF, Bendix Commercial Vehicle Systems LLC, Continental AG, Dana Inc., Doran Manufacturing LLC, FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG, NXP Semiconductors NV, SENSATA TECHNOLOGIES HOLDING PLC, The Goodyear Tire & Rubber Company, and ZF Friedrichshafen AG are some of the major market participants.
The discount in insurance premium for adoption of vehicle safety system like TPMS will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this commercial vehicle tire pressure management system market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Commercial Vehicle Tire Pressure Management System Market 2021-2025: Segmentation
Commercial Vehicle Tire Pressure Management System Market is segmented as below:
- End-user
- OEMs
- Aftermarket
- Type
- LCVs
- HCVs
- Geography
- North America
- Europe
- APAC
- South America
- MEA
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Commercial Vehicle Tire Pressure Management System Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The commercial vehicle tire pressure management system market report covers the following areas:
- Commercial Vehicle Tire Pressure Management System Market Size
- Commercial Vehicle Tire Pressure Management System Market Trends
- Commercial Vehicle Tire Pressure Management System Market Analysis
This study identifies rising accidents related to improperly inflated tires, leading to growing awareness about TPMS as one of the prime reasons driving the commercial vehicle tire pressure management system market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Commercial Vehicle Tire Pressure Management System Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist commercial vehicle tire pressure management system market growth during the next five years
- Estimation of the commercial vehicle tire pressure management system market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the commercial vehicle tire pressure management system market across North America, Europe, APAC, South America, and MEA
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of commercial vehicle tire pressure management system market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- OEMs - Market size and forecast 2020-2025
- Aftermarket - Market size and forecast 2020-2025
- Market opportunity by End-user
Market Segmentation by Vehicle type
- Market segments
- Comparison by Vehicle type
- LCVs - Market size and forecast 2020-2025
- HCVs - Market size and forecast 2020-2025
- Market opportunity by Vehicle type
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AB SKF
- Bendix Commercial Vehicle Systems LLC
- Continental AG
- Dana Inc.
- Doran Manufacturing LLC
- FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG
- NXP Semiconductors NV
- SENSATA TECHNOLOGIES HOLDING PLC
- The Goodyear Tire & Rubber Company
- ZF Friedrichshafen AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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