Global Motorcycle Tire Pressure Management System (MTPMS) Market 2017-2021

Overview of the global motorcycle tire pressure management system (MTPMS) market

Technavio's market research report predicts that the global motorcycle tire pressure management system market will grow at an impressive CAGR of more than 29% during the forecast period. The increasing number of accidents across the globe due to tire failures result in a rise in demand for advanced safety systems such as TPMS in automobiles. The recent years witnessed a rapid growth in the awareness among the customers regarding the driving dynamics of motorcycles. Also, customers are also becoming increasingly aware of the consequences of underinflated tires on the stability and handling abilities of the motorcycle and on the increase in operational costs due to the need for quicker replacement. According to this market research report, this increasing awareness on safe riding dynamics will be one of the primary factors that will drive the growth of the motorcycle TPMS market in the coming years.

With the steady growth of the automotive sector, the developing countries around the world such as China, India, and Mexico are witnessing an increase in the demand for safety systems. Additionally, the continuous economic growth of the developing markets that enhances the financial status of consumers will also increase the expenditure of customers on safety features such as TPMS, anti-braking system (ABS), and electronic speed control (ESC). Due to the rise in demand for heavy weight or premium motorcycles, APAC will witness a rise in the sales of motorcycles in the next few years, which will in turn, augment the growth prospects of the motorcycle tire pressure monitor system market.

Competitive analysis and key vendors