Global Automotive Tire Pressure Monitoring System Market Overview:
The Automotive Tire Pressure Monitoring System Market Size was estimated at 22.07 (USD Billion) in 2022. The Automotive Tire Pressure Monitoring System Market Industry is expected to grow from 23.99(USD Billion) in 2023 to 50.7 (USD Billion) by 2032. The Automotive Tire Pressure Monitoring System Market CAGR (growth rate) is expected to be around 8.67% during the forecast period (2024 - 2032).
Key Automotive Tire Pressure Monitoring System Market Trends Highlighted
The automotive tire pressure monitoring system market is growing steadily because of the increasing safety regulations, rise in consumer enlightenment, and technological progress. Tire pressure monitoring systems for new vehicles are compulsory worldwide to help reduce road accidents resulting from tires that are either underinflated or overinflated. Besides, consumers have become more aware of the importance of these systems, including better vehicle handling, fuel economy, and prolonged tire life.
The shift has been towards advanced systems with real-time tire pressure monitoring, temperature sensing, and other features. These systems rely on wireless technology and provide drivers with alerts and diagnostic information to make driving safer and easier. As this moves along into infotainment as well as smartphone applications, one can monitor it remotely by integrating it with a mobile phone application. The next stage for the growth of the automotive tyre pressure control system market is increased adoption and advancement in technology.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Tire Pressure Monitoring System Market Drivers
Rising Safety Concerns and Government Regulations
The increasing number of road accidents and fatalities has prompted governments worldwide to implement stringent regulations mandating the installation of TPMS in new vehicles. TPMS provides real-time tire pressure monitoring, alerting drivers to potential issues, such as underinflation or overinflation, which can significantly impact vehicle handling, stability, and braking performance. By ensuring optimal tire pressure, TPMS enhances overall vehicle safety, reduces the risk of accidents, and promotes passenger well-being.
Moreover, government initiatives, such as the European Union's General Safety Regulation and the U.S. National Highway Traffic Safety Administration's (NHTSA) Tire Pressure Monitoring System Rule, have played a pivotal role in driving the adoption of TPMS in the automotive industry. These regulations have established minimum performance standards and requirements for TPMS, ensuring the accuracy and reliability of the systems installed in vehicles.
Technological Advancements and Innovation
The Automotive Tire Pressure Monitoring System Market Industry has witnessed significant technological advancements in recent years. The integration of advanced sensors, wireless connectivity, and data analytics has revolutionized the capabilities of TPMS. Modern TPMS systems utilize a variety of sensors, including strain gauges, piezoelectric sensors, and capacitive sensors, to measure tire pressure with high accuracy and precision. These sensors are compact, durable, and can withstand harsh operating conditions, ensuring reliable performance in real-time applications.
Additionally, the advent of wireless technologies, such as Bluetooth and Zigbee, has enabled TPMS systems to communicate with other vehicle components, providing real-time data on tire pressure, temperature, and other vital parameters. Advanced TPMS systems also leverage data analytics and machine learning algorithms to detect potential tire issues and predict maintenance needs, enhancing overall vehicle performance and safety.
Growing Demand for Electric Vehicles
The increasing popularity of electric vehicles (EVs) is another key driver of growth in the Automotive Tire Pressure Monitoring System Market Industry. EVs place unique demands on tires due to their heavier weight and higher torque, making tire pressure monitoring even more critical for ensuring optimal performance and safety. TPMS systems in EVs play a vital role in maintaining proper tire pressure, which is essential for maximizing battery range, reducing rolling resistance, and enhancing overall vehicle efficiency.As the adoption of EVs continues to accelerate, the demand for advanced TPMS systems specifically designed for these vehicles is expected to rise significantly.
Automotive Tire Pressure Monitoring System Market Segment Insights:
Automotive Tire Pressure Monitoring System Market System Type Insights
The Automotive Tire Pressure Monitoring System Market is segmented by System Type into Direct and Indirect systems. Direct TPMS utilizes individual tire pressure sensors mounted on each tire, providing real-time and precise tire pressure data to the vehicle's ECU. Indirect TPMS, on the other hand, estimates tire pressure based on changes in wheel speed detected by the vehicle's ABS sensors. In 2023, the Direct TPMS segment held a dominant market share, accounting for approximately 60% of the Automotive Tire Pressure Monitoring System Market revenue.This dominance is attributed to its higher accuracy, faster response time, and ability to provide individual tire pressure readings. The Indirect TPMS segment, however, is expected to witness significant growth in the coming years due to its cost-effectiveness and simpler installation process. The market growth for both Direct and Indirect TPMS is driven by increasing government regulations mandating TPMS in new vehicles, rising consumer awareness about tire safety, and technological advancements leading to enhanced system capabilities.
The growing adoption of electric vehicles, which require precise tire pressure monitoring for optimal performance and range, is also contributing to market expansion.Key players in the Automotive Tire Pressure Monitoring System Market include Continental AG, Robert Bosch GmbH, Denso Corporation, TRW Automotive, and Schrader International. These companies are investing in research and development to enhance system performance, reliability, and connectivity features. The market is expected to continue its growth trajectory, with the Direct TPMS segment maintaining its dominance while the Indirect TPMS segment gains traction due to its cost-effectiveness and ease of implementation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Tire Pressure Monitoring System Market Vehicle Type Insights
The Automotive Tire Pressure Monitoring System Market is segmented by Vehicle Type into Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles. Among these segments, Passenger Vehicles are projected to hold the largest market share of around 65% in 2023, driven by increasing production and sales of passenger cars globally. Light Commercial Vehicles are estimated to witness a significant growth rate during the forecast period due to rising demand for these vehicles in various commercial applications. Heavy Commercial Vehicles are expected to contribute a notable share to the overall market, owing to the increasing adoption of TPMS in heavy-duty vehicles for safety and efficiency purposes.The growth of the Automotive Tire Pressure Monitoring System Market is attributed to rising safety concerns, increasing vehicle production, and stringent government regulations worldwide.
Automotive Tire Pressure Monitoring System Market Component Type Insights
The Automotive Tire Pressure Monitoring System Market is segmented by component type into sensors, transmitters, receivers, display units, and control units. Among these, the sensors segment held the largest market share in 2023, accounting for over 40% of the Automotive Tire Pressure Monitoring System Market revenue. The growth of this segment can be attributed to the increasing demand for accurate and reliable tire pressure monitoring systems in vehicles. Sensors play a crucial role in detecting tire pressure and transmitting the data to the other components of the system.The increasing adoption of advanced sensors, such as MEMS (microelectromechanical systems) sensors, is also driving the growth of this segment. The Automotive Tire Pressure Monitoring System Market for sensors is projected to grow at a CAGR of 8.5% during the forecast period, reaching a market size of USD 10.5 billion by 2032.
Automotive Tire Pressure Monitoring System Market Display Type Insights
The Display Type segment of the Automotive Tire Pressure Monitoring System Market is segmented into Analog, Digital, and Integrated. Among these, the Digital Display Type segment is anticipated to garner a significant market share during the forecast period. The increasing adoption of digital displays in vehicles, owing to their user-friendly interface, enhanced visibility, and ability to display a wider range of information, is driving the growth of this segment. Digital displays provide real-time tire pressure data, alerts, and warnings, enabling drivers to monitor tire pressure more effectively and respond promptly to any issues.The convenience and safety benefits offered by digital displays are expected to fuel their adoption in the coming years, contributing to the growth of the Digital Display Type segment within the Automotive Tire Pressure Monitoring System Market.
Automotive Tire Pressure Monitoring System Market Application Insights
The Automotive Tire Pressure Monitoring System Market segmentation by Application into OEM and Aftermarket provides crucial insights into the industry dynamics. The OEM segment held a larger market share in 2023, driven by the increasing production of new vehicles equipped with TPMS as standard features. Government regulations mandating TPMS installation in new vehicles also contribute to the growth of the OEM segment. On the other hand, the Aftermarket segment is projected to grow at a higher CAGR during the forecast period.
This growth can be attributed to the rising demand for TPMS replacements in existing vehicles, increasing vehicle ownership, and growing awareness about tire pressure safety.The aftermarket segment provides opportunities for aftermarket TPMS manufacturers, distributors, and service providers to cater to the growing demand for TPMS maintenance and repair services. The availability of affordable aftermarket TPMS solutions is further fueling the growth of this segment.
Automotive Tire Pressure Monitoring System Market Regional Insights
The Automotive Tire Pressure Monitoring System Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is expected to continue to dominate the market during the forecast period. The growth in the region can be attributed to the increasing adoption of advanced driver assistance systems (ADAS) and the rising demand for safety features in vehicles. Europe is the second-largest market for automotive tire pressure monitoring systems, followed by APAC. The APAC region is expected to witness significant growth in the coming years due to the increasing production and sales of automobiles in the region.South America and MEA are relatively smaller markets for automotive tire pressure monitoring systems but are expected to grow at a steady pace in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Tire Pressure Monitoring System Market Key Players And Competitive Insights:
Major players in the Automotive Tire Pressure Monitoring System Market industry are continuously focusing on developing innovative products and technologies to cater to the evolving needs of customers. Leading Automotive Tire Pressure Monitoring System Market players are investing heavily in research and development activities to stay ahead of the competition. The Automotive Tire Pressure Monitoring System Market industry is characterized by intense competition, with key players vying for market share.
The competitive landscape is expected to remain fragmented in the coming years, with numerous local and regional players operating in the market. Strategic partnerships, mergers, and acquisitions are common in the Automotive Tire Pressure Monitoring System Market industry as companies seek to expand their global reach and product portfolio.Continental AG is a prominent player in the Automotive Tire Pressure Monitoring System Market. The company offers a wide range of tire pressure monitoring systems, including direct and indirect systems. Continental AG has a strong presence in the European and North American markets and is expanding its reach in emerging markets. The company focuses on providing innovative and reliable tire pressure monitoring solutions to meet customers' safety and efficiency requirements. Continental AG collaborates with leading automotive manufacturers to integrate its tire pressure monitoring systems into new vehicle models.
Another key player in the Automotive Tire Pressure Monitoring System Market is TRW Automotive. The company offers a comprehensive range of tire pressure monitoring systems, including direct and indirect systems, as well as advanced features such as real-time tire pressure monitoring and leak detection. TRW Automotive has a global presence, with manufacturing facilities in Europe, North America, and Asia. The company focuses on providing high-quality tire pressure monitoring solutions to meet customers' safety and regulatory requirements. TRW Automotive collaborates with leading automotive manufacturers to supply tire pressure monitoring systems for new vehicle models.
Key Companies in the Automotive Tire Pressure Monitoring System Market Include:
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Sensata Technologies Holding plc
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TRW Automotive Holdings Corp.
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Alps Alpine Co., Ltd.
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ZF Friedrichshafen AG
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Robert Bosch GmbH
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Schrader International
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Denso Corporation
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NXP Semiconductors N.V.
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TDK Corporation
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Continental AG
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Infineon Technologies AG
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Tire Pressure Monitoring Systems (TPMS) International Ltd.
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Analog Devices, Inc.
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Lear Corporation
Automotive Tire Pressure Monitoring System Market Industry Developments
Recent developments in the global Automotive Tire Pressure Monitoring System (TPMS) market include the growing adoption of advanced technologies, increasing demand for safety features, and government regulations mandating TPMS in new vehicles. Key players are investing in research and development to enhance TPMS capabilities, such as real-time tire pressure monitoring, predictive maintenance, and integration with other vehicle systems. Furthermore, strategic partnerships and acquisitions are shaping the market landscape, with companies seeking to expand their product offerings and gain market share.
The rising popularity of electric vehicles is also driving demand for TPMS, as these vehicles require accurate monitoring of tire pressure for optimal performance and range. Overall, the Automotive TPMS market is poised for significant growth in the coming years, driven by technological advancements, safety concerns, and regulatory mandates.
Automotive Tire Pressure Monitoring System Market Segmentation Insights
Automotive Tire Pressure Monitoring System Market System Type Outlook
Automotive Tire Pressure Monitoring System Market Vehicle Type Outlook
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Automotive Tire Pressure Monitoring System Market Component Type Outlook
- Sensors
- Transmitters
- Receivers
- Display Units
- Control Units
Automotive Tire Pressure Monitoring System Market Display Type Outlook
- Analog
- Digital
- Integrated
Automotive Tire Pressure Monitoring System Market Application Outlook
Automotive Tire Pressure Monitoring System Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
22.07(USD Billion) |
| Market Size 2023 |
23.99(USD Billion) |
| Market Size 2032 |
50.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.67% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Sensata Technologies Holding plc, TRW Automotive Holdings Corp., Alps Alpine Co., Ltd., ZF Friedrichshafen AG, Robert Bosch GmbH, Schrader International, Denso Corporation, NXP Semiconductors N.V., TDK Corporation, Continental AG, Infineon Technologies AG, Tire Pressure Monitoring Systems (TPMS) International Ltd., Analog Devices, Inc., Lear Corporation |
| Segments Covered |
System Type, Vehicle Type, Component Type, Display Type, Application, Regional |
| Key Market Opportunities |
Increased focus on vehicle safetyGrowing adoption of electric vehiclesRising demand for connected carsGovernment regulations and mandatesTechnological advancements |
| Key Market Dynamics |
1 Rising safety concerns2 Increasing vehicle production3 Government regulations4 Technological advancements |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Tire Pressure Monitoring System Market is expected to reach 50.7 billion USD by 2032, growing at a CAGR of 8.67% from 2024 to 2032.
North America is expected to dominate the Automotive Tire Pressure Monitoring System Market, accounting for a share of over 40% in 2023.
The growth of the Automotive Tire Pressure Monitoring System market is primarily driven by increasing safety concerns, rising demand for fuel-efficient vehicles, and stringent government regulations.
Automotive Tire Pressure Monitoring Systems are primarily used in passenger cars, commercial vehicles, and off-road vehicles to monitor and maintain optimal tire pressure.
Some of the key competitors in the Automotive Tire Pressure Monitoring System market include Continental AG, Robert Bosch GmbH, TRW Automotive Holdings Corp., and Sensata Technologies.
Key trends affecting the Automotive Tire Pressure Monitoring System market include the adoption of advanced technologies such as wireless TPMS and integration with other vehicle systems.
The Automotive Tire Pressure Monitoring System Market is expected to grow at a CAGR of 8.67% from 2024 to 2032.
Challenges faced by the Automotive Tire Pressure Monitoring System market include cost concerns and the need for skilled technicians for installation and maintenance.
The COVID-19 pandemic had a negative impact on the Automotive Tire Pressure Monitoring System market due to disruptions in supply chains and reduced vehicle production.
The future prospects of the Automotive Tire Pressure Monitoring System market are positive due to increasing safety regulations, technological advancements, and growing demand for fuel-efficient vehicles.
