Tire Pressure Monitoring System Market Opportunities 2031
The Tire Pressure Monitoring System market is expected to register a CAGR of 6.2% during 2023–2031. The integration of advanced technologies in automotive active belt systems in vehicle applications is likely to remain a key trend in the market.
Tire Pressure Monitoring System Market Analysis
- The factors that are anticipated to drive the Tire Pressure Monitoring System market are stringent safety regulations, increasing consumer awareness about vehicle safety, and advancements in automotive electronics technology. Airbag electronics play a crucial role in enhancing the overall safety and reliability of modern vehicles. As per the National Highway Traffic Safety Administration (NHTSA), seatbelts and airbags can reduce the chances of death from a head-on collision by 61%. Due to this, several manufacturers are producing their vehicles with advanced technology-based safety measures.
- An airbag is designed to inflate at the time of collision in an automobile. Stringent government rules and regulations for vehicle safety and road safety drive the Tire Pressure Monitoring System market growth. The rising demand for safer and enhanced automotive driving systems has impacted market growth. The automotive industry is adopting technological advancements to improve vehicle safety. Also, the rising adoption of the Industrial Internet of Things (IIoT) automotive automation with advanced sensors in airbag systems is driving the market growth. The Tire Pressure Monitoring System market is expected to grow exponentially because of an increase in demand for electric vehicles and increasing passenger car sales in developing and developed countries.
Tire Pressure Monitoring System Market Overview
- The increasing use of AI and machine learning algorithms in ECUs influences market growth. The integration of these technologies into automotive ECUs is causing a revolution in the market. These advancements allow to development of sophisticated and adaptable airbag deployment systems that can react to real-time data, which improves passenger safety. To illustrate, cutting-edge ECUs can evaluate the intensity and nature of a crash by examining sensor data from accelerometers, gyroscopes, and car cameras. They can tell the difference between rollovers, side impacts, and front-end collisions and set off airbags as needed.
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Tire Pressure Monitoring System Market: Strategic Insights
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Tire Pressure Monitoring System Market: Strategic Insights
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Tire Pressure Monitoring System Market Drivers and Opportunities
Increase in demand for safety measures in automobiles
- Airbags are supplemental for automobile safety. The market for Tire Pressure Monitoring System market has increased with strict government safety regulations and an increase in awareness of vehicle safety among customers. The growing awareness for driver safety and enhancing the driving experience has been driving the Tire Pressure Monitoring System market.
- Development of the automotive industry in developing countries
- The automotive industry is experiencing remarkable growth in developing countries like China, India, Brazil, and others because of the rising economies, increase in disposable income, and changing customer preferences. This expansion is beneficial for the growth of the Tire Pressure Monitoring System market.
Increased Sales of Luxury Vehicles
- Luxury automobile manufacturers are increasingly driving the evolution by integrating sophisticated automatic safety technologies, including Tire Pressure Monitoring System, into their vehicles to ensure passenger safety and comply with the stringent automotive safety regulations. As per the latest Automotive Industry Associations report, in India, more than 47,000 luxury vehicles were sold in 2023, which increased by 21% compared to 2022. BMW and Mercedes-Benz announced increased sales in 2023 by 10-15% compared to 2022.
- Tire Pressure Monitoring System technology has a high potential market in the luxury automobile segment, which has a significant share in the global passenger automobile market, owing to increased awareness about safety aspects in automobiles and increased government policies and norms related to vehicular safety.
Increased Adoption of AI and Machine Learning for Automotive Safety is Driving Trend in the Market Growth
- The increasing utilization of machine learning and AI algorithms in automotive safety has increased demand for the Tire Pressure Monitoring System market growth. The integration of AI technology into automotive airbag control units is growing at a rapid pace in the market. These advancements in airbag deployment safety systems create real-time data, which improves the passenger’s safety. To evaluate the intensity of a crash, automotive electronics sensors use data from gyroscopes, accelerometers, and car cameras. These automotive electronics in airbags can tell the difference between side impacts, rollovers, and front-end collisions and set off airbags as required.
Tire Pressure Monitoring System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Tire Pressure Monitoring System market analysis are component and application.
- Based on vehicle type, the market is divided into Compact Cars, Mid-Sized Cars, Premium Cars, Luxury cars, Light Commercial Vehicles, and Heavy Commercial Vehicles.
- Depending on the components, the market is divided into sensors, airbag control units, inflators, and communication modules, among others.
Tire Pressure Monitoring System Market Share Analysis by Geography
- Tire Pressure Monitoring System market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Tire Pressure Monitoring System market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Tire Pressure Monitoring System market in these regions.
Tire Pressure Monitoring System Market Report Scope
Tire Pressure Monitoring System Market News and Recent Developments
The Tire Pressure Monitoring System market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Tire Pressure Monitoring System market are listed below:
- ZF Friedrichshafen AG has developed LIFETEC a dual contour airbag for the passenger side, which can be inflated in two different sizes, depending on the seating position. ZF LIFETEC is also developing a dual contour airbag for the driver's side for the next generation of partially or fully automated vehicles. (Source: ZF Friedrichshafen AG, Company Website, June 2024)
- ZF Friedrichshafen AG launched The ACR8 seat belt system. This connected belt from ZF actively enhances occupant seating position to help mitigate injury in a crash. (Source: ZF Friedrichshafen AG, Company Website, March 2024)
Tire Pressure Monitoring System Market Report Coverage and Deliverables
The “Tire Pressure Monitoring System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Tire Pressure Monitoring System market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Tire Pressure Monitoring System market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Tire Pressure Monitoring System market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Tire Pressure Monitoring System market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global Tire Pressure Monitoring System market is expected to grow at a CAGR of 8.2% during the forecast period 2023 - 2031.
The increasing sales of luxury cars with the surge in demand for safety in the automotive industry are the major factors driving the Tire Pressure Monitoring System market.
The integration of advanced technologies such as AI and machine learning in automotive safety systems is the key future trend in the global Tire Pressure Monitoring System market in the coming years.
The leading players operating in the Tire Pressure Monitoring System market include Autoliv, Inc., Continental AG, DENSO Corporation, Hyundai Mobis Co., Ltd., Takata Corporation, ZF Friedrichshafen AG, and Far Europe Holding Limited. Calsonic Kansei Corporation (Mareli), Delphi Automotive, Hella GmbH & Co. KGaA, Hyundai Mobis Co. Ltd, INVISTA, Joyson Safety Systems, Magna International.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and a country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Truck Refrigeration Unit Market - By Type
1.3.2Truck Refrigeration Unit Market - By Application
1.3.3Truck Refrigeration Unit Market - By Industry Vertical
1.3.4Truck Refrigeration Unit Market - By Vehicle Type
1.3.5Truck Refrigeration Unit Market - By Region
1.3.5.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.TRUCK REFRIGERATION UNIT MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.TRUCK REFRIGERATION UNIT MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.TRUCK REFRIGERATION UNIT MARKET - GLOBAL MARKET ANALYSIS
6.1.TRUCK REFRIGERATION UNIT - GLOBAL MARKET OVERVIEW
6.2.TRUCK REFRIGERATION UNIT - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING
7.TRUCK REFRIGERATION UNIT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.SPLIT SYSTEM
7.3.1.Overview
7.3.2.Split System Market Forecast and Analysis
7.4.ROOF MOUNT SYSTEM
7.4.1.Overview
7.4.2.Roof Mount System Market Forecast and Analysis
8.TRUCK REFRIGERATION UNIT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.FROZEN
8.3.1.Overview
8.3.2.Frozen Market Forecast and Analysis
8.4.CHILLED
8.4.1.Overview
8.4.2.Chilled Market Forecast and Analysis
9.TRUCK REFRIGERATION UNIT MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1.OVERVIEW
9.2.INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3.FOOD AND BEVERAGES
9.3.1.Overview
9.3.2.Food and Beverages Market Forecast and Analysis
9.4.PHARMACEUTICALS AND CHEMICALS
9.4.1.Overview
9.4.2.Pharmaceuticals and Chemicals Market Forecast and Analysis
9.5.AMBULANCE
9.5.1.Overview
9.5.2.Ambulance Market Forecast and Analysis
9.6.PASSENGER TRANSPORT
9.6.1.Overview
9.6.2.Passenger Transport Market Forecast and Analysis
10.TRUCK REFRIGERATION UNIT MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
10.1.OVERVIEW
10.2.VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
10.3.TRAILERS
10.3.1.Overview
10.3.2.Trailers Market Forecast and Analysis
10.4.MEDIUM AND HEAVY COMMERCIAL VEHICLES
10.4.1.Overview
10.4.2.Medium and Heavy Commercial Vehicles Market Forecast and Analysis
11.TRUCK REFRIGERATION UNIT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1.NORTH AMERICA
11.1.1North America Truck Refrigeration Unit Market Overview
11.1.2North America Truck Refrigeration Unit Market Forecasts and Analysis
11.1.3North America Truck Refrigeration Unit Market Forecasts and Analysis - By Type
11.1.4North America Truck Refrigeration Unit Market Forecasts and Analysis - By Application
11.1.5North America Truck Refrigeration Unit Market Forecasts and Analysis - By Industry Vertical
11.1.6North America Truck Refrigeration Unit Market Forecasts and Analysis - By Vehicle Type
11.1.7North America Truck Refrigeration Unit Market Forecasts and Analysis - By Countries
11.1.7.1United States Truck Refrigeration Unit Market
11.1.7.1.1United States Truck Refrigeration Unit Market by Type
11.1.7.1.2United States Truck Refrigeration Unit Market by Application
11.1.7.1.3United States Truck Refrigeration Unit Market by Industry Vertical
11.1.7.1.4United States Truck Refrigeration Unit Market by Vehicle Type
11.1.7.2Canada Truck Refrigeration Unit Market
11.1.7.2.1Canada Truck Refrigeration Unit Market by Type
11.1.7.2.2Canada Truck Refrigeration Unit Market by Application
11.1.7.2.3Canada Truck Refrigeration Unit Market by Industry Vertical
11.1.7.2.4Canada Truck Refrigeration Unit Market by Vehicle Type
11.1.7.3Mexico Truck Refrigeration Unit Market
11.1.7.3.1Mexico Truck Refrigeration Unit Market by Type
11.1.7.3.2Mexico Truck Refrigeration Unit Market by Application
11.1.7.3.3Mexico Truck Refrigeration Unit Market by Industry Vertical
11.1.7.3.4Mexico Truck Refrigeration Unit Market by Vehicle Type
11.2.EUROPE
11.2.1Europe Truck Refrigeration Unit Market Overview
11.2.2Europe Truck Refrigeration Unit Market Forecasts and Analysis
11.2.3Europe Truck Refrigeration Unit Market Forecasts and Analysis - By Type
11.2.4Europe Truck Refrigeration Unit Market Forecasts and Analysis - By Application
11.2.5Europe Truck Refrigeration Unit Market Forecasts and Analysis - By Industry Vertical
11.2.6Europe Truck Refrigeration Unit Market Forecasts and Analysis - By Vehicle Type
11.2.7Europe Truck Refrigeration Unit Market Forecasts and Analysis - By Countries
11.2.7.1Germany Truck Refrigeration Unit Market
11.2.7.1.1Germany Truck Refrigeration Unit Market by Type
11.2.7.1.2Germany Truck Refrigeration Unit Market by Application
11.2.7.1.3Germany Truck Refrigeration Unit Market by Industry Vertical
11.2.7.1.4Germany Truck Refrigeration Unit Market by Vehicle Type
11.2.7.2France Truck Refrigeration Unit Market
11.2.7.2.1France Truck Refrigeration Unit Market by Type
11.2.7.2.2France Truck Refrigeration Unit Market by Application
11.2.7.2.3France Truck Refrigeration Unit Market by Industry Vertical
11.2.7.2.4France Truck Refrigeration Unit Market by Vehicle Type
11.2.7.3Italy Truck Refrigeration Unit Market
11.2.7.3.1Italy Truck Refrigeration Unit Market by Type
11.2.7.3.2Italy Truck Refrigeration Unit Market by Application
11.2.7.3.3Italy Truck Refrigeration Unit Market by Industry Vertical
11.2.7.3.4Italy Truck Refrigeration Unit Market by Vehicle Type
11.2.7.4United Kingdom Truck Refrigeration Unit Market
11.2.7.4.1United Kingdom Truck Refrigeration Unit Market by Type
11.2.7.4.2United Kingdom Truck Refrigeration Unit Market by Application
11.2.7.4.3United Kingdom Truck Refrigeration Unit Market by Industry Vertical
11.2.7.4.4United Kingdom Truck Refrigeration Unit Market by Vehicle Type
11.2.7.5Russia Truck Refrigeration Unit Market
11.2.7.5.1Russia Truck Refrigeration Unit Market by Type
11.2.7.5.2Russia Truck Refrigeration Unit Market by Application
11.2.7.5.3Russia Truck Refrigeration Unit Market by Industry Vertical
11.2.7.5.4Russia Truck Refrigeration Unit Market by Vehicle Type
11.2.7.6Rest of Europe Truck Refrigeration Unit Market
11.2.7.6.1Rest of Europe Truck Refrigeration Unit Market by Type
11.2.7.6.2Rest of Europe Truck Refrigeration Unit Market by Application
11.2.7.6.3Rest of Europe Truck Refrigeration Unit Market by Industry Vertical
11.2.7.6.4Rest of Europe Truck Refrigeration Unit Market by Vehicle Type
11.3.ASIA-PACIFIC
11.3.1Asia-Pacific Truck Refrigeration Unit Market Overview
11.3.2Asia-Pacific Truck Refrigeration Unit Market Forecasts and Analysis
11.3.3Asia-Pacific Truck Refrigeration Unit Market Forecasts and Analysis - By Type
11.3.4Asia-Pacific Truck Refrigeration Unit Market Forecasts and Analysis - By Application
11.3.5Asia-Pacific Truck Refrigeration Unit Market Forecasts and Analysis - By Industry Vertical
11.3.6Asia-Pacific Truck Refrigeration Unit Market Forecasts and Analysis - By Vehicle Type
11.3.7Asia-Pacific Truck Refrigeration Unit Market Forecasts and Analysis - By Countries
11.3.7.1Australia Truck Refrigeration Unit Market
11.3.7.1.1Australia Truck Refrigeration Unit Market by Type
11.3.7.1.2Australia Truck Refrigeration Unit Market by Application
11.3.7.1.3Australia Truck Refrigeration Unit Market by Industry Vertical
11.3.7.1.4Australia Truck Refrigeration Unit Market by Vehicle Type
11.3.7.2China Truck Refrigeration Unit Market
11.3.7.2.1China Truck Refrigeration Unit Market by Type
11.3.7.2.2China Truck Refrigeration Unit Market by Application
11.3.7.2.3China Truck Refrigeration Unit Market by Industry Vertical
11.3.7.2.4China Truck Refrigeration Unit Market by Vehicle Type
11.3.7.3India Truck Refrigeration Unit Market
11.3.7.3.1India Truck Refrigeration Unit Market by Type
11.3.7.3.2India Truck Refrigeration Unit Market by Application
11.3.7.3.3India Truck Refrigeration Unit Market by Industry Vertical
11.3.7.3.4India Truck Refrigeration Unit Market by Vehicle Type
11.3.7.4Japan Truck Refrigeration Unit Market
11.3.7.4.1Japan Truck Refrigeration Unit Market by Type
11.3.7.4.2Japan Truck Refrigeration Unit Market by Application
11.3.7.4.3Japan Truck Refrigeration Unit Market by Industry Vertical
11.3.7.4.4Japan Truck Refrigeration Unit Market by Vehicle Type
11.3.7.5South Korea Truck Refrigeration Unit Market
11.3.7.5.1South Korea Truck Refrigeration Unit Market by Type
11.3.7.5.2South Korea Truck Refrigeration Unit Market by Application
11.3.7.5.3South Korea Truck Refrigeration Unit Market by Industry Vertical
11.3.7.5.4South Korea Truck Refrigeration Unit Market by Vehicle Type
11.3.7.6Rest of Asia-Pacific Truck Refrigeration Unit Market
11.3.7.6.1Rest of Asia-Pacific Truck Refrigeration Unit Market by Type
11.3.7.6.2Rest of Asia-Pacific Truck Refrigeration Unit Market by Application
11.3.7.6.3Rest of Asia-Pacific Truck Refrigeration Unit Market by Industry Vertical
11.3.7.6.4Rest of Asia-Pacific Truck Refrigeration Unit Market by Vehicle Type
11.4.MIDDLE EAST AND AFRICA
11.4.1Middle East and Africa Truck Refrigeration Unit Market Overview
11.4.2Middle East and Africa Truck Refrigeration Unit Market Forecasts and Analysis
11.4.3Middle East and Africa Truck Refrigeration Unit Market Forecasts and Analysis - By Type
11.4.4Middle East and Africa Truck Refrigeration Unit Market Forecasts and Analysis - By Application
11.4.5Middle East and Africa Truck Refrigeration Unit Market Forecasts and Analysis - By Industry Vertical
11.4.6Middle East and Africa Truck Refrigeration Unit Market Forecasts and Analysis - By Vehicle Type
11.4.7Middle East and Africa Truck Refrigeration Unit Market Forecasts and Analysis - By Countries
11.4.7.1South Africa Truck Refrigeration Unit Market
11.4.7.1.1South Africa Truck Refrigeration Unit Market by Type
11.4.7.1.2South Africa Truck Refrigeration Unit Market by Application
11.4.7.1.3South Africa Truck Refrigeration Unit Market by Industry Vertical
11.4.7.1.4South Africa Truck Refrigeration Unit Market by Vehicle Type
11.4.7.2Saudi Arabia Truck Refrigeration Unit Market
11.4.7.2.1Saudi Arabia Truck Refrigeration Unit Market by Type
11.4.7.2.2Saudi Arabia Truck Refrigeration Unit Market by Application
11.4.7.2.3Saudi Arabia Truck Refrigeration Unit Market by Industry Vertical
11.4.7.2.4Saudi Arabia Truck Refrigeration Unit Market by Vehicle Type
11.4.7.3U.A.E Truck Refrigeration Unit Market
11.4.7.3.1U.A.E Truck Refrigeration Unit Market by Type
11.4.7.3.2U.A.E Truck Refrigeration Unit Market by Application
11.4.7.3.3U.A.E Truck Refrigeration Unit Market by Industry Vertical
11.4.7.3.4U.A.E Truck Refrigeration Unit Market by Vehicle Type
11.4.7.4Rest of Middle East and Africa Truck Refrigeration Unit Market
11.4.7.4.1Rest of Middle East and Africa Truck Refrigeration Unit Market by Type
11.4.7.4.2Rest of Middle East and Africa Truck Refrigeration Unit Market by Application
11.4.7.4.3Rest of Middle East and Africa Truck Refrigeration Unit Market by Industry Vertical
11.4.7.4.4Rest of Middle East and Africa Truck Refrigeration Unit Market by Vehicle Type
11.5.SOUTH AND CENTRAL AMERICA
11.5.1South and Central America Truck Refrigeration Unit Market Overview
11.5.2South and Central America Truck Refrigeration Unit Market Forecasts and Analysis
11.5.3South and Central America Truck Refrigeration Unit Market Forecasts and Analysis - By Type
11.5.4South and Central America Truck Refrigeration Unit Market Forecasts and Analysis - By Application
11.5.5South and Central America Truck Refrigeration Unit Market Forecasts and Analysis - By Industry Vertical
11.5.6South and Central America Truck Refrigeration Unit Market Forecasts and Analysis - By Vehicle Type
11.5.7South and Central America Truck Refrigeration Unit Market Forecasts and Analysis - By Countries
11.5.7.1Brazil Truck Refrigeration Unit Market
11.5.7.1.1Brazil Truck Refrigeration Unit Market by Type
11.5.7.1.2Brazil Truck Refrigeration Unit Market by Application
11.5.7.1.3Brazil Truck Refrigeration Unit Market by Industry Vertical
11.5.7.1.4Brazil Truck Refrigeration Unit Market by Vehicle Type
11.5.7.2Argentina Truck Refrigeration Unit Market
11.5.7.2.1Argentina Truck Refrigeration Unit Market by Type
11.5.7.2.2Argentina Truck Refrigeration Unit Market by Application
11.5.7.2.3Argentina Truck Refrigeration Unit Market by Industry Vertical
11.5.7.2.4Argentina Truck Refrigeration Unit Market by Vehicle Type
11.5.7.3Rest of South and Central America Truck Refrigeration Unit Market
11.5.7.3.1Rest of South and Central America Truck Refrigeration Unit Market by Type
11.5.7.3.2Rest of South and Central America Truck Refrigeration Unit Market by Application
11.5.7.3.3Rest of South and Central America Truck Refrigeration Unit Market by Industry Vertical
11.5.7.3.4Rest of South and Central America Truck Refrigeration Unit Market by Vehicle Type
12.INDUSTRY LANDSCAPE
12.1.MERGERS AND ACQUISITIONS
12.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3.NEW PRODUCT LAUNCHES
12.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13.TRUCK REFRIGERATION UNIT MARKET, KEY COMPANY PROFILES
13.1.CARRIER CORPORATION (UNITED TECHNOLOGIES CORP.)
13.1.1.Key Facts
13.1.2.Business Description
13.1.3.Products and Services
13.1.4.Financial Overview
13.1.5.SWOT Analysis
13.1.6.Key Developments
13.2.DAIKIN
13.2.1.Key Facts
13.2.2.Business Description
13.2.3.Products and Services
13.2.4.Financial Overview
13.2.5.SWOT Analysis
13.2.6.Key Developments
13.3.DENSO
13.3.1.Key Facts
13.3.2.Business Description
13.3.3.Products and Services
13.3.4.Financial Overview
13.3.5.SWOT Analysis
13.3.6.Key Developments
13.4.KLINGE CORPORATION
13.4.1.Key Facts
13.4.2.Business Description
13.4.3.Products and Services
13.4.4.Financial Overview
13.4.5.SWOT Analysis
13.4.6.Key Developments
13.5.MITSUBISHI HEAVY INDUSTRIES, LTD.
13.5.1.Key Facts
13.5.2.Business Description
13.5.3.Products and Services
13.5.4.Financial Overview
13.5.5.SWOT Analysis
13.5.6.Key Developments
13.6.MOBILE CLIMATE CONTROL
SCHMITZ CARGOBULL
13.6.1.Key Facts
13.6.2.Business Description
13.6.3.Products and Services
13.6.4.Financial Overview
13.6.5.SWOT Analysis
13.6.6.Key Developments
13.7.SUBROS LIMITED
13.7.1.Key Facts
13.7.2.Business Description
13.7.3.Products and Services
13.7.4.Financial Overview
13.7.5.SWOT Analysis
13.7.6.Key Developments
13.8.THERMO KING (INGERSOLL RAND PLC.)
13.8.1.Key Facts
13.8.2.Business Description
13.8.3.Products and Services
13.8.4.Financial Overview
13.8.5.SWOT Analysis
13.8.6.Key Developments
13.9.WEBASTO THERMO AND COMFORT
13.9.1.Key Facts
13.9.2.Business Description
13.9.3.Products and Services
13.9.4.Financial Overview
13.9.5.SWOT Analysis
13.9.6.Key Developments
14.APPENDIX
14.1.ABOUT THE INSIGHT PARTNERS
14.2.GLOSSARY OF TERMS
The List of Companies
1.Carrier Corporation (United Technologies Corp.)
2.Daikin
3.Denso
4.Klinge Corporation
5.MITSUBISHI HEAVY INDUSTRIES, LTD.
6.Mobile Climate Control
Schmitz Cargobull
7.Subros Limited
8.Thermo King (Ingersoll Rand Plc.)
9.Webasto Thermo and Comfort
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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