According to a new market report published by Credence Research Inc “Tire Pressure Gauge Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025,” the The global market for Tire Pressure Gauge is expected to witness significant growth globally with increasing sale of vehicles, number of vehicle service centers and introduction of stringent regulations related to tire pressure monitoring. The market for tire pressure gauge is expected to witness significant growth with increasing production of motor vehicles. In addition, introduction of stringent emission and vehicle repair and maintenance regulations is also expected to support the growth of tire pressure gauge market particularly in developed regions. In emerging economies increasing vehicle fleet, expansion of automotive production facilities and rising number of independent vehicle services stations and workshops. Countries across the world are introducing stringent tire inflation regulations in order to reduce greenhouse gas emission from vehicle operating with under operated tire pressure. Several countries have made mandatory for gas/fuel stations to provide free compressed air when you vehicle owner purchase gas/fuel. In addition, Automotive Service Providers are required to check and inflate each vehicle’s tires to the recommended tire pressure rating at the time of performing any automotive maintenance or repair service. Such mandatory laws are increasing the demand for tire pressure gauges across the world.
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Asia Pacific represents the largest regional market for tire pressure gauge systems followed by North America and Europe. Increasing sale of vehicle particularly in India, China and Southeast Asia are expected to drive the demand for tire pressure gauge devices in the country. China is the largest individual market for tire pressure gauge device. Introduction of stringent regulations to install tire pressure monitoring systems in high end vehicles is triggering the demand for tire pressure gauge devices in North America and Europe. Increasing sale of motor vehicles in Middle East, Latin America and major African countries also expected to increase the demand for tire pressure gauge across the world.
Based on Type, the global tire pressure gauge market is segmented into stick gauge, dial gauge and digital gauge. Dial tire pressure gauge accounted for the largest revenue share in 2016. This segment is expected to maintain its dominating position throughout the forecast period. Dial tire pressure gauge are commonly used type and increasingly used in major markets such as India, China and others. The market for digital tire pressure gauge is predicted to see the fastest growth though the forecast period. Digital gauge are easy to operate and offers most accurate reading compared to other type of gauges.
The global tire pressure gauge market is very competitive and comprise of large number of small and medium size domestic as well as multinational player. Some of the key players in the global tire pressure gauge market include Coido, Accutire Gauge, Michelin, STEEL MATE, Goodyear, G.H. Meiser & Co, Milton Industries, Longacre Racing, TEKTON, NorthONE, Craftsman, Slime and others.