Automotive Tire Pressure Monitoring System (TPMS) Market By Type (Direct TPMS, Indirect TPMS), By Component (Sensors, ECU (Electronic Control Unit), Alarm/Indicator), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, Electric Vehicles), By Technology (Bluetooth, Zigbee), By End-Use (OEMs (Original Equipment Manufacturers), Aftermarket), and By Region; Global Insights & Forecast (2024 - 2030)

As per Intent Market Research, the Automotive Tire Pressure Monitoring System (TPMS) Market was valued at USD 7.9 billion in 2023 and will surpass USD 13.7 billion by 2030; growing at a CAGR of 8.2% during 2024 - 2030.

The automotive tire pressure monitoring system (TPMS) market plays a crucial role in enhancing vehicle safety by continuously monitoring tire pressure and alerting drivers to any significant changes. By ensuring tires are properly inflated, TPMS reduces the risk of accidents caused by underinflated or overinflated tires, which can affect vehicle handling, braking, and fuel efficiency. With increasing safety regulations, the integration of TPMS into vehicles has become mandatory in many regions, significantly driving the market's growth.

As the automotive industry embraces more advanced technologies to improve vehicle safety and performance, the demand for TPMS systems is expected to rise. This is especially true with the increasing adoption of electric vehicles (EVs) and the growing awareness of the benefits of proper tire maintenance. The market is also witnessing advancements in TPMS technology, including the development of sensors with greater accuracy and longer lifespans, further contributing to the overall growth of the sector.

Direct TPMS Segment is Largest Owing to Enhanced Accuracy and Reliability

The direct TPMS segment is the largest in the automotive TPMS market, owing to its ability to provide more accurate and reliable real-time tire pressure readings. Direct TPMS systems use sensors mounted on each tire to monitor air pressure and transmit the data to the vehicle's onboard system. When the pressure deviates from the optimal range, the system immediately alerts the driver. This direct approach offers a higher level of precision, making it the preferred choice for both OEMs and consumers.

As tire safety continues to be a significant concern, direct TPMS offers enhanced reliability, particularly in passenger vehicles and commercial vehicles, where tire failure can have severe consequences. The increased demand for direct TPMS in newer vehicle models, especially in markets with stringent safety regulations, is expected to drive the continued growth of this segment. Furthermore, advancements in sensor technologies are improving the accuracy and durability of direct TPMS systems, making them an even more attractive option for vehicle manufacturers and consumers alike.

Electric Vehicles Segment is Fastest Growing Due to Adoption of Advanced Safety Features

The electric vehicles (EVs) segment is the fastest growing in the automotive TPMS market, driven by the increasing adoption of advanced safety technologies and the rise in EV production. With their focus on efficiency, performance, and safety, electric vehicle manufacturers are increasingly incorporating TPMS as a standard feature. EVs, with their unique powertrains and increased reliance on electronic systems, require advanced tire pressure monitoring to optimize vehicle performance and ensure the safety of both the vehicle and its occupants.

As the global shift towards electric mobility accelerates, the demand for TPMS systems in EVs is expected to rise sharply. EVs are often equipped with more sophisticated monitoring systems, and TPMS is crucial for maximizing driving range and ensuring optimal tire performance. The growing awareness of the need for tire maintenance in EVs, coupled with regulatory requirements in various regions, positions the EV segment as the fastest-growing area within the automotive TPMS market.

OEMs Sales Channel is Largest Due to Integration in New Vehicle Production

The OEMs (Original Equipment Manufacturers) sales channel is the largest in the automotive TPMS market, primarily due to the integration of TPMS systems into new vehicles during the manufacturing process. As TPMS becomes a mandatory feature in many regions, automakers are incorporating it as part of their standard vehicle packages. OEMs benefit from directly supplying TPMS systems that meet regulatory standards, offering a seamless experience for both vehicle manufacturers and consumers.

The OEMs channel dominates the market because automakers are increasingly integrating TPMS systems in response to regulatory requirements and consumer demand for enhanced safety features. This channel also provides a stable and continuous revenue stream for TPMS manufacturers, who rely on large-scale production runs for efficiency and cost-effectiveness. As vehicle production continues to grow, particularly in emerging markets, OEMs are expected to remain the primary source of demand for automotive TPMS systems.

North America Region is Largest Due to Stringent Regulatory Standards

The North America region is the largest market for automotive TPMS, driven by stringent regulatory standards that mandate the use of TPMS in all new passenger vehicles. The United States, in particular, has enforced regulations that require all passenger vehicles to be equipped with TPMS, significantly increasing the adoption of these systems. The emphasis on vehicle safety and the growing awareness of the importance of tire maintenance contribute to the robust demand for TPMS systems in this region.

The North American market also benefits from a strong automotive manufacturing industry, with both OEMs and aftermarket suppliers offering advanced TPMS solutions. As a result, the region continues to lead in terms of market size, and its regulatory environment ensures that TPMS systems remain a critical component in the design of modern vehicles. This region’s well-established automotive industry and regulatory framework position it as the largest market for automotive TPMS.

Competitive Landscape and Leading Companies

The automotive TPMS market is highly competitive, with several key players focusing on the development of innovative technologies to enhance tire safety and improve the overall driving experience. Leading companies in the market include Sensata Technologies, Continental AG, and Schrader International, which are renowned for their high-quality sensors, ECU systems, and alarm indicators. These companies dominate the OEM and aftermarket sectors, offering comprehensive solutions that meet global safety standards.

As the market evolves, competition is intensifying, with companies investing heavily in research and development to offer more accurate, durable, and cost-effective TPMS solutions. The rise of electric vehicles and the growing demand for advanced safety technologies are also encouraging companies to adapt their products to cater to the specific needs of EV manufacturers. As regulatory requirements tighten and consumer awareness of tire safety grows, the automotive TPMS market is expected to see continued innovation and fierce competition in the years ahead.

Recent Developments:

• In November 2024, Sensata Technologies launched a new advanced TPMS sensor that offers increased accuracy and improved durability for commercial vehicles.
• In October 2024, Continental AG introduced a new generation of direct TPMS with enhanced connectivity for electric vehicles.
• In September 2024, Denso Corporation announced the development of a next-gen TPMS sensor that provides real-time tire pressure data to the vehicle's control system for optimized safety.
• In August 2024, Huf Hülsbeck & Fürst GmbH & Co. KG expanded its TPMS product line to include sensors designed for high-performance sports vehicles.
• In July 2024, Schrader International, Inc. revealed an upgraded TPMS system that offers seamless integration with smartphone apps for tire management.

List of Leading Companies:

• Sensata Technologies
• Continental AG
• Denso Corporation
• Huf Hülsbeck & Fürst GmbH & Co. KG
• Pacific Industrial Co., Ltd.
• ZF Friedrichshafen AG
• Valeo SA
• Schrader International, Inc.
• Stoneridge, Inc.
• NXP Semiconductors
• Elster Group
• Michelin
• Tata Elxsi
• Autoliv Inc.
• WABCO Vehicle Control Systems

Report Scope: