TPMS Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Automotive Tire Pressure Monitoring System (TPMS) Market is segmented by type (direct TPMS and indirect TPMS), sales channel type (OEM and aftermarket), vehicle type (passenger cars and commercial vehicles), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Size and Forecast for the Automotive Tire Pressure Monitoring System (TPMS) Market in value (USD billion) for the Segmentation mentioned above.

Automotive TPMS Market Size

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Automotive TPMS Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 13.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Automotive TPMS Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Automotive TPMS Market Analysis

The Automotive Tire Pressure Monitoring System (TPMS) Market was valued at USD 5.67 billion. It is expected to reach a value of USD 13.60 billion over the next five years, registering a CAGR of more than 13% during the forecast period.

The COVID-19 pandemic resulted in the shutdown of assembly lines, social distancing norms, and stringent lockdowns worldwide. The market took a step back and saw a decline in demand. However, following the pandemic, rising vehicle sales are expected to support market demand over the forecast period. Major players are forming strategic alliances and focusing on developing new products. For instance,

  • October 2022: Volvo Group, Qamcom Group, and the inventor Roman Lustin formed a new start-up company, Fyrqom AB. It will provide an automated system for calibrating heavy-duty vehicles' tire pressure monitoring systems (TPMS).

Over the long term, consumer preference for advanced driver assistance systems is expected to play a significant role in the automotive TPMS market growth. Furthermore, a surge in the sales of luxury vehicles equipped with TPMS will propel the automotive TPMS growth during the forecast period. Though demand for TPMS was initially driven by the luxury and premium car segments, well-equipped with this monitoring system, mid-segment one-tire vehicles meet market demand. For instance,

  • June 2022: Volkswagen debuted the 2022 Virtus with a 1-tire TSI Comfortline variant. More than 40 features and sensors are available in the sedan segment, including a tire pressure monitoring system.

The Asia-Pacific region is expected to be the largest market for automotive TPMS, with Japan, India, and China serving as major automotive hubs. The Indian automotive TPMS market is expected to be driven by rising consumer awareness, aftermarket TPMS installation, and rising demand for luxury vehicles. For instance,

  • September 2022: Chongqing Livan Automotive Technology Co., Ltd. (Livan Auto), a battery-swappable car brand supported by Geely Automobile and Lifan Technology, introduced two new models. It includes a central console screen with an 8-inch LCD, a Tire Pressure Monitoring System (TPMS), and a Hill Hold Control (HHC) system.

Automotive TPMS Market Trends

This section covers the major market trends shaping the Automotive TPMS Market according to our research experts:

Increasing Adoption of TPMS in Vehicles to Enhance Growth of Market

TPMS is most commonly used in passenger vehicles, where tire pressure management is regarded as a critical safety system. The automotive industry is stepping up its efforts to introduce features that reduce the collision's impact, reduce fatalities, and improve overall vehicle safety. It will fuel the growth of the automotive TPMS market during the forecast period.

Dill Air Control, for example, is now producing TPMS systems for high-end models from Toyota, Lexus, BMW, Volkswagen, Hyundai, Chrysler, Jeep, and Rolls Royce. Significant automakers' sports, premium, and luxury segment passenger cars now include TPMS as standard equipment, with tire pressure displayed in the instrument panel display. With increasing consumer demand for vehicles with advanced safety features, TPMS is expected to become standard in C-segment hatchbacks, Sedans, and SUVs.

Furthermore, due to this system's numerous benefits, several automakers in the passenger car segment are offering the installed TPMS in their proposed fleet. For instance:

  • May 2022: the newly released Audi A6 2022 model includes a sophisticated tire pressure monitoring system. This feature was introduced in the 2022 model A6 but was unavailable in the 2021 models.
  • May 2022: Compared to the older model, the newly launched 2022 hybrid premium midsize sedan Honda City includes a tire pressure monitoring system (TMPS).

Due to these additions to automakers' newly launched fleets, demand for passenger vehicles in the market is expected to remain positive throughout the forecast period.

Automotive TPMS Market : Market Size of the Tire Pressure Monitoring System Worldwide from 2018 to 2021 (In Million USD)

Asia-Pacific Region Anticipated to Grow at Significant Level During the Forecast Period

The Asia-Pacific automotive TPMS market is expected to grow and hold a significant share of the global automotive TPMS market during the forecast period.

China and India are expected to be the region's market leaders. Factors such as rising premium car market penetration and increased safety installations per vehicle (due to the safety regulations adopted by governments/agencies) drive up demand for TPMS and other ADAS. Safety systems, such as automotive TPMS, found in compact and mid-sized vehicles in advanced Asian economies such as Japan, South Korea, and Singapore, are progressive and typically on par with those found in Europe and North America.

Growth in premium and mid-segment car sales in Asia-Pacific is a critical growth factor for TMPS adoption. Several automakers are pushing the pace of passenger vehicle sales even faster and launching new products. For instance:

  • August 2022: The iMAX8 EV, a mid-sized electric MPV from SAIC Roewe, was unveiled. It is available in five variants, with prices ranging from CNY 259,800 (USD 37316.32) to CNY 359,800 (USD 51679.80) after subsidies. Tire Pressure Monitoring System is one of the vehicle's features.
  • May 2022: Geely Binrui COOL Sedan Coupe was launched in China for USD 14,000 and is considered the racing storm in the mid-sedan segment. The car includes active safety features, a tire pressure monitoring system, and Level 2 ADAS functions.

Furthermore, critical regional automotive OEMs such as Hyundai and Nissan intend to increase revenue by strategically manufacturing and integrating advanced automotive TPMS technology with safety systems. Although the regional market for TPMS is currently quite limited, it is expected to increase over the next five years.

Automotive TPMS Market : Growth Rate by Region (2022 2027)

Automotive TPMS Industry Overview

The automotive TPMS is moderately consolidated due to several global, tier-2, and tier-3 suppliers. However, regarding OEM supply, companies like Sensata Technologies, Huf Electronics, Continental, Infineon Technology, Lear Corporation, and ZF TRW dominate the market.

  • June 2022: Continental, a leading innovation and supplier of OE and aftermarket for tire pressure monitoring systems, TPMS diagnostic tools, and replacement parts, introduced a new packaging design for its next generation of REDI-Sensor Multi-Application TPMS Sensors. It came from the exhaustive research and development conducted by Continental AG in this segment.
  • November 2021: KRAIBURG Austria announced the launch of a new, web-based tire pressure monitoring system called TYLOGIC, which reliably detects gradual or abrupt pressure loss, possible mechanical damage to axles or brakes of the truck, or the imminent end of the regular tire mileage.

Furthermore, one of the primary reasons that automakers prefer products from major manufacturers is the demand for high-quality and durable products. Moreover, these significant players increased R&D spending exponentially to integrate automotive TPMS with other safety-related solutions.

Automotive TPMS Market Leaders

  1. Delphi Automotive

  2. DENSO Corporation

  3. Continental AG

  4. ZF TRW

  5. Valor TPMS

*Disclaimer: Major Players sorted in no particular order

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Automotive TPMS Market News

  • May 2022: Continental unveiled an advanced combine-tire monitoring system for its CombineMaster and CombineMaster VF tires. The system is called ContiPressureCheck, designed to monitor tire pressure and temperature.
  • February 2022: Continental AG announced its plan to strengthen the safety solution for India. India is the world's largest two-wheeler market, and Continental is committed to delivering affordable and intelligent safety technologies, including ADAS, TPMS, and others.
  • February 2022: Fleeca India Private Limited, a Jaipur-based start-up, launched Fleeca Kawach, India's first AI-driven smart truck tire-pressure monitoring system. This TPMS (Tyre Pressure Monitoring System) is a rim-mounted electronic system that monitors the wheel's rotational speed and other signals outside the tires.
  • December 2021: Tire maker Sumitomo Rubber began proof-of-concept testing for a new type of tire pressure management solutions (TPMS) service. It allows remote monitoring of tire pressure and temperature. The concept is part of a joint project undertaken with Shin-Idemitsu, a group subsidiary of IDEX Auto Japan, partners at Tripod Works, and Sumitomo's tire sales subsidiary Dunlop.

Automotive TPMS Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size in Value USD Billion)

    1. 5.1 Type

      1. 5.1.1 Direct TPMS

      2. 5.1.2 Indirect TPMS

    2. 5.2 Sales Channel Type

      1. 5.2.1 OEM

      2. 5.2.2 Aftermarket

    3. 5.3 Vehicle Type

      1. 5.3.1 Passenger Cars

      2. 5.3.2 Commercial Vehicles

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of the South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Rest of the Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Delphi Automotive

      2. 6.2.2 DENSO Corporation

      3. 6.2.3 Continental AG

      4. 6.2.4 ZF TRW

      5. 6.2.5 Valor TPMS

      6. 6.2.6 Pacific Industrial

      7. 6.2.7 Schrader Electronics

      8. 6.2.8 Hella KGaA Hueck & Co.

      9. 6.2.9 Valeo

      10. 6.2.10 ALLIGATOR Ventilfabrik GmbH

      11. 6.2.11 Advantage PressurePro Enterprises Inc.

      12. 6.2.12 Alps Electric Co. Ltd

      13. 6.2.13 Sensata Technologies

      14. 6.2.14 Huf Electronics

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Automotive TPMS Industry Segmentation

The Tire Pressure Monitoring System is an electronic system that provides real-time information about tire pressure by monitoring the air pressure inside the tires. The TPMS also warns the driver about the number of underinflated tires.

The Automotive Tire Pressure Monitoring System (TPMS) Market is segmented by type (direct TPMS and indirect TPMS), sales channel type (OEM and aftermarket), vehicle type (passenger cars and commercial vehicles), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Size and Forecast for the Automotive Tire Pressure Monitoring System (TPMS) Market in value (USD billion) for the Segmentation mentioned above.

Type
Direct TPMS
Indirect TPMS
Sales Channel Type
OEM
Aftermarket
Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
United Kingdom
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of the South America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of the Middle-East and Africa
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Automotive TPMS Market Research FAQs

The Automotive TPMS Market is projected to register a CAGR of greater than 13% during the forecast period (2024-2029)

Delphi Automotive, DENSO Corporation, Continental AG, ZF TRW and Valor TPMS are the major companies operating in the Automotive TPMS Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Automotive TPMS Market.

The report covers the Automotive TPMS Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive TPMS Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automotive Tire Pressure Monitoring System Industry Report

Statistics for the 2024 Automotive Tire Pressure Monitoring System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Tire Pressure Monitoring System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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TPMS Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)