Automotive Tire Pressure Monitoring System (TPMS) Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

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. The Report Offers Market Size and Forecast for the Automotive Tire Pressure Monitoring System (TPMS) Market in Value (USD billion) for the Above-mentioned Segmentation.

Market Snapshot

Automotive Tire Pressure Monitoring System (TPMS) Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >13.3 %

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Market Overview

The automotive tire pressure monitoring system (TPMS) market studied was valued at over USD 5 billion in 2020, and it is expected to reach a value of USD 12 billion by 2026, registering a CAGR of more than 13.3% during the forecast period.

With the shutdown of assembly lines, social distancing norms, and stringent lockdown worldwide due to the COVID-19 pandemic, the R&D of tire pressure monitoring systems was successfully carried out, but the fabrication of materials and sensors phase had a fallback. The market took a back step. However, with more personal mobility preferences that will come up post-pandemic, the market is expected to get back into a good economic position.

The major factors driving the TPMS market are:

  • Consumer preference toward advanced driver assistance systems, with safety acting as a major propellant for the growth of the automotive TPMS market
  • Spike in the sales of luxury vehicles, with TPMS in their safety features, which further propelled the market growth of automotive TPMS
  • The growing number of accidents and subsequent road fatalities, which prompted the regulatory authorities of many countries to mandate the employment of TPMS in automobiles

Asia-Pacific is the largest market for automotive TPMS, with Japan and China as the major automotive hubs. The growing consumer awareness, aftermarket installation of TPMS, and increasing demand for luxury vehicles are expected to drive the Indian automotive TPMS .market

Scope of the Report

TPMS is an electronic system designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. The TPMS also warns the driver about the number of tires that are underinflated.

The automotive TPMS market has been segmented by type, sales channel type, vehicle type, and geography. The report offers market size and forecast for the automotive tire pressure monitoring system (TPMS) market in value (USD billion) for the above-mentioned segmentation.

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
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
United Arab Emirates
Other Countries

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Key Market Trends

Increasing Adoption of TPMS in Passenger Cars

TPMS usually finds major applications in the passenger vehicle segment, where tire pressure management is considered a critical safety system. The automotive industry has been stepping up on introducing features that minimize the impact of collisions, reduce fatalities, and improve overall vehicle safety, thereby fueling the growth of the automotive TPMS market during the forecast period.

Despite the poor growth rate of the passenger vehicle segment, the market for premium luxury vehicles is expected to increase significantly in Asia-Pacific. Luxury vehicles are expected to witness an extremely high growth rate across the entire passenger vehicle segment. With TPMS fitted in a majority of these vehicles, the passenger vehicle segment is poised to drive the market for automotive TPMS significantly.

Companies, like Dill Air Control are now producing TPMS systems for high-end models of automakers, such as Toyota, Lexus, BMW, Volkswagen, Hyundai, Chrysler, Jeep, and Rolls Royce. The sports-, premium-, and luxury segment passenger cars from major automakers are now employing TPMS as a standard, with the tire pressure displayed in the instrument panel display. With the growing consumer demand for vehicles with advanced safety features, TPMS is highly anticipated to be available as a standard in C-segment hatchbacks, Sedans, and SUVs.

Automotive Tire Pressure Monitoring System (TPMS) Market Revenue Share

Asia-Pacific Growing at a Fast Pace

The Asia-Pacific automotive TPMS market is expected to witness a high CAGR during the forecast period. Countries from Asia-Pacific are expected to hold a significant share in the global automotive TPMS market by the end of 2026.

The market in the region is driven by China and India. Factors, like increasing market penetration of premium cars and a rise in safety installations per vehicle (due to the adoption of safety regulations by governments/agencies), are accelerating the demand for TPMS and other ADAS. In the advanced economies of Asia-Pacific, like Japan, South Korea, and Singapore, safety systems, including automotive TPMS, featured in compact and mid-sized vehicles, are advanced in nature and usually at par with those available in Europe and North America.

The automotive OEMs in the region, such as Hyundai and Nissan, aim to increase their revenue by strategically manufacturing and integrating advanced automotive TPMS technology with safety systems. Although the regional market for TPMS is quite limited at present, it is expected to grow at a very high rate during the next five years.

Global players, such as Continental AG and Valeo, have their presence in Asia-Pacific, and their aggressive marketing strategies are expected to influence the market demand for automotive TPMS in the region during the forecast period.

Automotive Tire Pressure Monitoring System (TPMS) Market Growth Rate By Region

Competitive Landscape

The market for automotive TPMS is fairly fragmented, in terms of tier-2 and tier-3 supplies. However, regarding the supply to OEMs, companies, like Sensata Technologies, Huf Electronics, Continental, Infineon Technology, Lear Corporation, and ZF TRW, dominate the market.

The demand for products with high accuracy and durability was one of the main reasons for automakers to prefer products from major manufacturers. Additionally, these big players increased their R&D spending exponentially to integrate automotive TPMS with other safety-related solutions. This resulted in better TPMS-based advanced driver assistance systems for automotive applications.

Recent Developments

In October 2019, the European market’s move into TPMS equipment for commercial vehicles, Ateq TPMS Tools LC (which has one of its four international headquarters in France) recently launched the VT Truck, which is already “making waves” as an HGV TPMS maintenance tool for workshops.

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 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    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 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 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 United Arab Emirates

        3. 5.4.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Continental AG

      2. 6.2.2 Pacific Industrial

      3. 6.2.3 Schrader Electronics

      4. 6.2.4 Delphi Automotive

      5. 6.2.5 Hella KGaA Hueck & Co.

      6. 6.2.6 ZF TRW

      7. 6.2.7 Valor TPMS

      8. 6.2.8 Valeo

      9. 6.2.9 DENSO Corporation

      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

**Subject to Availability
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Frequently Asked Questions

The Automotive TPMS Market market is studied from 2018 - 2026.

The Automotive TPMS Market is growing at a CAGR of >13.3% over the next 5 years.

The Automotive TPMS Market is valued at 5 Billion USD in 2018.

The Automotive TPMS Market is valued at 12 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

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

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