Tire Pressure Monitoring System Market

The Global Tire Pressure Monitoring System Market Industry is projected to experience substantial growth over the next decade. With a market value anticipated to reach 8.2 USD Billion in 2024 and further expanding to 28.6 USD Billion by 2035, the industry is on a trajectory of significant development. The compound annual growth rate of 12.04% from 2025 to 2035 suggests a robust market environment, driven by various factors including regulatory changes, technological advancements, and consumer preferences. This growth is indicative of the increasing importance of tire pressure monitoring systems in enhancing vehicle safety and efficiency.

The Global Tire Pressure Monitoring System Market Industry is poised for growth due to the increasing production of vehicles globally. As automotive manufacturers ramp up production to meet rising consumer demand, the incorporation of TPMS becomes essential. This trend is particularly evident in emerging markets where vehicle ownership is on the rise. For example, countries in Asia-Pacific are witnessing a surge in automotive production, leading to a higher demand for TPMS. The market is projected to reach 28.6 USD Billion by 2035, reflecting the correlation between vehicle production rates and TPMS adoption.

Technological advancements are significantly influencing the Global Tire Pressure Monitoring System Market Industry. Innovations such as direct TPMS, which provides real-time tire pressure data, and integration with vehicle infotainment systems enhance user experience and functionality. Furthermore, the development of smartphone applications that allow users to monitor tire pressure remotely is gaining traction. These advancements not only improve the effectiveness of TPMS but also encourage adoption among consumers who value convenience and technology. As these technologies continue to evolve, the market is expected to expand, with projections indicating a market value of 8.2 USD Billion in 2024.

Growing awareness regarding fuel efficiency is a key driver for the Global Tire Pressure Monitoring System Market Industry. Proper tire inflation is crucial for optimal fuel consumption, as under-inflated tires can lead to increased rolling resistance and, consequently, higher fuel usage. As consumers become more environmentally conscious and seek ways to reduce fuel costs, the demand for TPMS is likely to rise. This trend is further supported by studies indicating that maintaining correct tire pressure can improve fuel efficiency by up to 3.3 percent, making TPMS an attractive solution for both consumers and manufacturers.

The Global Tire Pressure Monitoring System Market Industry is experiencing growth due to stringent vehicle safety regulations being implemented worldwide. Governments are mandating the installation of tire pressure monitoring systems in new vehicles to enhance road safety and reduce accidents caused by tire blowouts. For instance, the European Union has established regulations requiring all new passenger cars to be equipped with TPMS. This regulatory push is expected to drive the market significantly, as manufacturers adapt to comply with these standards, thereby increasing the adoption of TPMS in the automotive sector.

Consumer preferences are shifting towards vehicles equipped with advanced safety and convenience features, driving the Global Tire Pressure Monitoring System Market Industry. As consumers increasingly prioritize safety, manufacturers are responding by integrating TPMS into their vehicles. This trend is evident in the growing number of vehicles that come standard with TPMS, as consumers view it as a necessary feature for modern vehicles. The expected compound annual growth rate of 12.04% from 2025 to 2035 indicates a robust market response to this consumer demand, further solidifying the role of TPMS in the automotive landscape.

By Region, the study provides market insights into North America, US, Europe, Asia-Pacific, Middle East & Africa, and South America. Europe, consisting of the Germany, UK, France, Italy, Spain, and rest of Europe, stands at the forefront of technological innovation in Tire Pressure Monitoring System Market.

The European TPMS market is expanding as a result of rising safety regulations implemented by both governments and automotive manufacturers. TPMS is an electronic system that monitors tire pressure and alerts drivers when the pressure falls below a specified level, mitigating the risk of accidents.

The European Union has required TPMS in all new vehicles, leading to an increase in TPMS installations in passenger vehicles, which comprise a significant portion of the European automotive market. TPMS has also been integrated into commercial vehicles, such as trucks and buses, owing to their high mileage and the need for better fuel efficiency. The rising demand for safety features in vehicles is one of the main drivers of the European TPMS market.

Figure 3: Tire Pressure Monitoring System Market Size By Region 2022&2032

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, South Korea, South Africa, UAE, Saudi Arabia, Argentina and Brazil.

The North American market for tire pressure monitoring systems (TPMS) is predicted to experience a moderate rate of growth in the forthcoming years, fueled by various factors. These include heightened safety concerns, government regulations mandating the use of TPMS in vehicles, and the increasing prevalence of connected cars. The trend of connected cars is expected to have an even greater impact on the adoption of TPMS, as these systems can be integrated with other vehicle sensors and connected to the internet to enable real-time monitoring.

Furthermore, the adoption of TPMS in the country is expected to be driven by rising safety concerns and the growing trend of connected cars. In summary, the North American TPMS market is projected to grow at a moderate pace in the near future, driven by a combination of government regulations, safety concerns, and the increasing prevalence of connected cars.

The Asia Pacific TPMS market is expected to experience several key trends in the coming years, including rising awareness about the benefits of TPMS among drivers and fleet owners, increasing government regulations mandating the installation of TPMS in new vehicles, growing demand for passenger cars and light commercial vehicles in the region, and technological advancements in TPMS systems, such as the development of wireless TPMS systems.

Japan and South Korea are also expected to be major markets, due to the presence of established automotive industries and high levels of consumer awareness about vehicle safety. Some of the key players operating in the Asia Pacific TPMS market include Continental AG, Denso Corporation, NXP Semiconductors, Robert Bosch GmbH, Schrader International, and ZF Friedrichshafen AG, among others. These players are focusing on product innovation and strategic partnerships to gain a competitive edge in the market.

With a strong presence across different verticals and geographies, the Tire Pressure Monitoring System Market is highly competitive and dominated by established, pure-play vendors. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Tire Pressure Monitoring System Market is highly competitive, with many vendors offering similar products and services.

The major players in the market include NXP Semiconductors, The Goodyear Tire & Rubber Company, ZF, Friedrichshafen Ag, Shanghai Baolong Automotive Corporation, Bh Sens Group, Cub Elecparts Inc.  and Others. ZF Friedrichshafen AG is focused on leveraging business opportunities in the global market. The company develops innovative products and solutions by investing extensively in R&D to increase its global market share.

Further, the company spent around USD 3,645 million on research & development expenditure which also includes the growth of commercial vehicle segment up to 17% in 2022. It also focuses on strategic contracts, and partnerships with other players in the value chain to offer combined solutions to increase its regional presence.