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:

Report Features

Description

Market Size (2023)

USD 7.9 billion

Forecasted Value (2030)

USD 13.7 billion

CAGR (2024 – 2030)

8.2%

Base Year for Estimation

2023

Historic Year

2022

Forecast Period

2024 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

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)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major 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

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

 

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Automotive Tire Pressure Monitoring System (TPMS) Market, by Type (Market Size & Forecast: USD Million, 2022 – 2030)

   4.1. Direct TPMS

   4.2. Indirect TPMS

5. Automotive Tire Pressure Monitoring System (TPMS) Market, by Component (Market Size & Forecast: USD Million, 2022 – 2030)

   5.1. Sensors

   5.2. ECU (Electronic Control Unit)

   5.3. Alarm/Indicator

   5.4. Others

6. Automotive Tire Pressure Monitoring System (TPMS) Market, by Vehicle Type (Market Size & Forecast: USD Million, 2022 – 2030)

   6.1. Passenger Vehicles

   6.2. Commercial Vehicles

   6.3. Electric Vehicles

7. Automotive Tire Pressure Monitoring System (TPMS) Market, by Technology (Market Size & Forecast: USD Million, 2022 – 2030)

   7.1. Bluetooth

   7.2. Zigbee

   7.3. Others

8. Automotive Tire Pressure Monitoring System (TPMS) Market, by End-Use (Market Size & Forecast: USD Million, 2022 – 2030)

   8.1. OEMs (Original Equipment Manufacturers)

   8.2. Aftermarket

9. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030)

   9.1. Regional Overview

   9.2. North America

      9.2.1. Regional Trends & Growth Drivers

      9.2.2. Barriers & Challenges

      9.2.3. Opportunities

      9.2.4. Factor Impact Analysis

      9.2.5. Technology Trends

      9.2.6. North America Automotive Tire Pressure Monitoring System (TPMS) Market, by Type

      9.2.7. North America Automotive Tire Pressure Monitoring System (TPMS) Market, by Component

      9.2.8. North America Automotive Tire Pressure Monitoring System (TPMS) Market, by Vehicle Type

      9.2.9. North America Automotive Tire Pressure Monitoring System (TPMS) Market, by Technology

      9.2.10. North America Automotive Tire Pressure Monitoring System (TPMS) Market, by End-Use

      9.2.11. By Country

         9.2.11.1. US

               9.2.11.1.1. US Automotive Tire Pressure Monitoring System (TPMS) Market, by Type

               9.2.11.1.2. US Automotive Tire Pressure Monitoring System (TPMS) Market, by Component

               9.2.11.1.3. US Automotive Tire Pressure Monitoring System (TPMS) Market, by Vehicle Type

               9.2.11.1.4. US Automotive Tire Pressure Monitoring System (TPMS) Market, by Technology

               9.2.11.1.5. US Automotive Tire Pressure Monitoring System (TPMS) Market, by End-Use

         9.2.11.2. Canada

         9.2.11.3. Mexico

    *Similar segmentation will be provided for each region and country

   9.3. Europe

   9.4. Asia-Pacific

   9.5. Latin America

   9.6. Middle East & Africa

10. Competitive Landscape

   10.1. Overview of the Key Players

   10.2. Competitive Ecosystem

      10.2.1. Level of Fragmentation

      10.2.2. Market Consolidation

      10.2.3. Product Innovation

   10.3. Company Share Analysis

   10.4. Company Benchmarking Matrix

      10.4.1. Strategic Overview

      10.4.2. Product Innovations

   10.5. Start-up Ecosystem

   10.6. Strategic Competitive Insights/ Customer Imperatives

   10.7. ESG Matrix/ Sustainability Matrix

   10.8. Manufacturing Network

      10.8.1. Locations

      10.8.2. Supply Chain and Logistics

      10.8.3. Product Flexibility/Customization

      10.8.4. Digital Transformation and Connectivity

      10.8.5. Environmental and Regulatory Compliance

   10.9. Technology Readiness Level Matrix

   10.10. Technology Maturity Curve

   10.11. Buying Criteria

11. Company Profiles

   11.1. Sensata Technologies

      11.1.1. Company Overview

      11.1.2. Company Financials

      11.1.3. Product/Service Portfolio

      11.1.4. Recent Developments

      11.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   11.2. Continental AG

   11.3. Denso Corporation

   11.4. Huf Hülsbeck & Fürst GmbH & Co. KG

   11.5. Pacific Industrial Co., Ltd.

   11.6. ZF Friedrichshafen AG

   11.7. Valeo SA

   11.8. Schrader International, Inc.

   11.9. Stoneridge, Inc.

   11.10. NXP Semiconductors

   11.11. Elster Group

   11.12. Michelin

   11.13. Tata Elxsi

   11.14. Autoliv Inc.

   11.15. WABCO Vehicle Control Systems

12. Appendix

A comprehensive market research approach was employed to gather and analyze data on the Automotive Tire Pressure Monitoring System (TPMS) Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Automotive Tire Pressure Monitoring System (TPMS) Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Automotive Tire Pressure Monitoring System (TPMS) Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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