Automotive Tire Pressure Monitoring System (TPMS) Market - Segmented by Type, End-user, Vehicle Type, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Automotive Tire Pressure Monitoring System (TPMS) Market - Segmented by Type, End-user, Vehicle Type, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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The market is expected to register a CAGR of 15.23% during the forecast period. North America was the largest market in 2017, accounting for a share of over 39%, followed by the European countries and Asia-Pacific countries. TPMS is an electronic system designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. In addition, TPMS warns the driver about the number of tires that are underinflated. The increasing demand from emerging markets, such as India and China, as a result of the rising demand for automobiles (especially luxury vehicles), and new TPMS regulations in China and South Korea will also positively affect the growth of the market.

In terms of technology, TPMS is classified into two categories: direct TPMS and indirect TPMS. Direct TPMS provides real-time information on the tire pressure by using pressure monitoring sensors in the tires. As a result, automobile manufacturers are shifting their focus to the use of direct TPMS sensors to improve safety of consumers. The demand for and adoption of direct TPMS is constantly increasing among consumers because of the ease provided by these systems; i.e., automatically resetting as and when tires are inflated or rotated (with the presence of pressure sensors). Indirect TPMS do not use any physical pressure sensors unlike direct TPMS but measure air pressure, by monitoring individual wheel rotational speeds and other signals available outside the tire.


                         Source: Statista, Mordor Intelligence Analysis

Rising Safety Concerns to Promote Growth

Tire blowouts because of underinflated & overinflated tires result in accidents and human fatalities. The rising concern for passenger and automobile safety has compelled governments across the world to implement safety regulations, such as TPMS (for instance, the TREAD Act by the US Congress). In addition, the high number of accidents occurring worldwide due to tire failures has increased the need for advanced safety systems, such as TPMS in automobiles. Appropriately inflated tires also improve the fuel efficiency of the vehicle. Governments across the world are taking initiatives to introduce TPMS in as many applications as possible to increase fuel efficiency (and hence, reduce carbon emissions).

Technical Restrictions Still Holding the Market

However, functional errors as a result of the failure of electronic sensors use of defective sensors and battery failure result in the failure of TPMS, resulting in accidents. For instance, unexpected turning off of the ignition disables the engine, and thus, the TPMS system. These functionality errors deter consumers from placing faith in such types of new technology. Awareness of TPMS among consumers has been low in the past, and the only installations have been in OEM-fitted vehicles. This is the reason why the TPMS aftermarket has not seen much growth in the past years. However, with the growing safety concerns among consumers in the emerging markets, the demand for entry-level vehicles equipped with safety features is increasing, thereby boosting the demand for electronic TPMS and TPMS sensors.

The market is segmented by type, end-user segment, vehicle type, and geography.

Key Developments in the Market

  • January 2018: Garmin launched its GTP400KIT as an aftermarket TPMS fitment.
  • November 2017: Continental Automotive showcased its latest range of TPMS, which uses high-frequency signal to send coded information to the receiver.

Key Players: Alligator Gmbh, Continental, Denso, Pacific Industrial, Schrader Electronics

Reasons to Purchase this Report                                                    

  • The report analyses how the increasing government regulations will drive the global automotive tire pressure monitoring system market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Study on the product type that is expected to dominate the market
  • Study on the regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

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1. Introduction

            1.1 Study Deliverables

            1.2 General Study Assumptions

2. Research Methodology

            2.1 Introduction

            2.2 Analysis Methodology

            2.3 Study Phases

            2.4 Econometric Modeling

3. Executive Summary

4. Market Overview and Trends

            4.1 Introduction

            4.2 Market Trends

            4.3 Porter’s Five Forces Framework

                        4.3.1 Bargaining Power of Suppliers

                        4.3.2 Bargaining Power of Consumers

                        4.3.3 Threat of New Entrants

                        4.3.4 Threat of Substitute Products and Services

                        4.3.5 Competitive Rivalry within the Industry

5. Market Dynamics

            5.1 Drivers

                        5.1.1 Government Regulations

                        5.1.2 Increasing Preference for Electronics in Automobiles

                        5.1.3 Innovations in TPMS Technology

            5.2 Restraints
                        5.2.1 Less Known Reliability and Operation Failure

                        5.2.2 High Costs for Replacement

            5.3 Opportunities

                        5.3.1 Growing Demand in Developing Nations

                        5.3.2 Awareness of Aftermarket TPMS

6. Automotive TPMS Market, Segmentation by Type

            6.1 Direct TPMS

            6.2 Indirect TPMS

7. Automotive TPMS Market, Segmentation by End-user

            7.1 OEM

            7.2 Aftermarket

8. Automotive TPMS Market, Segmentation by Vehicle

            8.1 Passenger Vehicles

            8.2 Light Commercial Vehicles

            8.3 Heavy Commercial Vehicles

9. Automotive TPMS Market, Segmentation by Geography

            9.1 North America

                        9.1.1 United States

                        9.1.2 Canada

                        9.1.3 Mexico

                        9.1.4 Rest of North America

            9.2 South America

                        9.2.1 Brazil

                        9.2.2 Argentina

                        9.2.3 Rest of South America

            9.3 Asia-Pacific

                        9.3.1 China

                        9.3.2 Japan

                        9.3.3 India

                        9.3.4 Rest of Asia-Pacific

            9.4 Europe

                        9.4.1 United Kingdom

                        9.4.2 Germany

                        9.4.3 France

                        9.4.4 Rest of Europe

            9.5 Middle-East and Africa

                        9.5.1 UAE

                        9.5.2 South Africa

                        9.5.2 Saudi Arabia

                        9.5.4 Rest of Middle-East and Africa

10. Competitive Landscape

            10.1 Introduction

            10.2 Market Share Analysis**

            10.3 Developments of Key Players

11. Key Vendor Analysis (Overview, Products & Services, Strategies)

            11.1 Continental

            11.2 Pacific Industrial

            11.3 Schrader Electronics

            11.4 Denso

            11.5 ALLIGATOR Ventilfabrik GmbH

            11.6 Advantage PressurePro Enterprises Inc.

            11.7 Alps Electric Co. Ltd.

            11.8 Bartec

            11.9 Bendix Commercial Vehicle Systems LLC

            11.10 Delphi Automotive LLP

            11.11 Dill Air Control Products

            11.12 Freescale Semiconductor

            11.13 Doran Manufacturing LLC

            11.14 Takata

            11.15 Hella

            11.16 Huf Electronics Bretten GmbH

            11.17 Omron

            11.18 Valeo

            11.19 ZF TRW

            11.20 Valor TPMS

12. Future Outlook of the Market

13. Disclaimer

**Subject to Availability on Public Domain

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