Views: 86 Author: Site Editor Publish Time: 2020-04-01 Origin: Site
With the development of the trend of global intelligence, sensors have been widely used and their markets in various fields have soared. According to the forecasting, from 2019 to 2024, the market of automotive tire and tire pressure monitor system and so on will grow at a compound annual rate of 7.44% -8.88%.
The market of smart tire and the tire pressure monitor system is driven by a number of factors, such as the government's policies for new energy and the development of smart car to ensure safety on road. Consumers are increasingly expecting the intelligence to achieve the goal of easy and safe driving.
In addition, the use of sensors to detect vehicles can effectively money, such as the maintenance of tires and other need of data collection, which has accelerated the expansion of the market of automotive sensor and tire pressure monitor system.
In the global market of automotive tire and sensor market in 2018, the market in U.S. occupies the largest share in the world with a ratio of 22.45%. What is more, the industry is expected to grow at a compound annual rate of 1.54% during the period 2019-2024.
It is predicted that by 2024 China will become the world's largest market of automotive sensors, with a share of 38.51%. During 2019-2024, China's markets of automotive tire and the automotive sensors are expected to grow at a compound annual rate of 15.06%.
The Chinese market of automotive sensors is mainly driven by a large number of domestic sales of cars. Recently, China has mandated the regulation of the sensor of TPMS in all new cars. In addition, there are various manufacturers and suppliers of TPMS in China, as well as various suppliers of components of tire sensor, which has promoted the development of TPMS sensors in China.
The global market of smart tires and sensors in cars can be segmented by their model, such as passenger cars and commercial vehicles. In 2018, the market of passenger car dominated the market of global tire and sensor of vehicles and gained the largest market share. It is expected to grow at a stable compound annual rate in the next few years.
In terms of channels for distribution, OEMs dominated the global market of automotive tire and sensor in 2018 and are expected to maintain the dominance throughout the forecast period.
Geographically, the market in US accounted for the largest share of the global market of automotive tire and sensor in 2018. However, by 2024, China is expected to gain the largest market share and become the largest market worldwide.
Currently, major players in the global market of smart tire and sensor include Bridgestone, Continental, Hankook Tire, Michelin Tire, Pirelli & CSPA, Infineon, NXP Semiconductors, and Schrader Electronics.
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