New York, June 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global and China Tire Pressure Monitoring System (TPMS) Industry Report, 2020-2026" - https://www.reportlinker.com/p04539089/?utm_source=GNW
The world TPMS installations are expected to drop to 58.35 million units in 2020 when the global output of automobiles has taken a tumble as a result of the COVID-19 pandemic.
Europe is still the largest TPMS market around the globe, followed by China already staying ahead of the United States. In 2019, China made up 27.9% of the world TPMS OEM market, only second to Europe 31.6% but expectedly surpassing Europe to be the laureate.
Although with a late start, China’s TPMS installations are on a steady rise amid the enforcement of mandatory policy on TPMS. In 2019, TPMS penetration rate was up to 64% and OEM installations hit 16.49 million units, the figures projected to soar to 79% and 25.16 million units respectively in 2026 as the passenger cars in production across China must be equipped with TMPS from January 1, 2020 on.
The global TPMS market is ruled by giants like Schrader, Continental, Pacific, ZF TRW and HUF, among which Schrader takes a lion’s share, 45.2% in 2019.
In China, the foreign companies represented by Schrader firmly hold at least 50% share of the Chinese TPMS market through establishing joint ventures, while the Chinese counterparts like the leading one Shanghai Baolong Automotive Corporation seize roughly 19.5% shares. In 2019, Shanghai Baolong Automotive Corporation partnered with HUF to set up a joint venture for business expansion and it accessed via HUF to the supply chains of world-renowned carmakers like BMW and Mercedes-Benz.
The policy on mandatory configuration of TPMS produces a huge market space into which the entrants like Jiangsu Yunyi Electric Co., Ltd., DIAS Automotive Electronic Systems Co., Ltd, and Xiaomi (MI) are allured. Fiercer competition will occur in future TPMS market in China.
Highlights of this report:
Global TPMS market (development environment, status quo, market size and structure, competitive landscape and key markets);
Chinese TPMS market (development environment, status quo, technologies, market demand, structure and penetration, competition pattern;
8 foreign, 25 Mainland Chinese and 6 Taiwanese TPMS companies as well as 5 TPMS sensor chip makers.
Read the full report: https://www.reportlinker.com/p04539089/?utm_source=GNW
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Global and China Tire Pressure Monitoring System (TPMS) Industry Report, 2020-2026
TPMS OEM prevails across the world, with its market size reaching 59. 2 million units and the installation rate at 64. 5% (an increase of 4. 9 points from a year ago) in 2019 as TMPS needs to be installed compulsorily in EU, South Korea, Taiwan (China), China, among others.
| Source: ReportLinker