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Automotive Tire Pressure Monitoring System Market Size By Type (Direct TPMS, Indirect TPMS), By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Automotive Tire Pressure Monitoring System Market Valuation – 2024-2031

So, what's making the automotive tire pressure monitoring system (TPMS) market tick? Well, a few things are coming together. First off, governments are getting serious and requiring TPMS in all new cars – all because keeping the right tire pressure makes driving safer. Plus, people are catching on! They're realizing that keeping an eye on tire pressure isn't just about safety; it can save them money at the pump too. That's why more and more folks want TPMS, whether they're buying a new car or adding it to their old one. The market was worth USD 6.74 Billion in 2024, and get this, it's expected to hit USD 12.28 Billion by 2031, growing at a CAGR of 8.60% from 2024 to 2031.

The Asia-Pacific region, particularly China and India, is poised for the most significant growth in the TPMS market. This growth is attributed to rising disposable income, a surge in vehicle sales, and a growing emphasis on safety features in these markets. With increasing government regulations, rising consumer awareness, and ongoing technological advancements, the market is anticipated to witness substantial growth in the coming years.

Automotive Tire Pressure Monitoring System MarketDefinition/ Overview

Automotive safety relies on a network of technologies, and the tire pressure monitoring system (TPMS) plays a critical role in this ecosystem.  These systems are tasked with continuously monitoring the air pressure within a vehicle’s tires and alerting the driver to any significant under-inflation.

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What are the emerging trends in TPMS technology, such as integration with vehicle communication systems or self-healing sensors?

The world of TPMS technology is transforming. One key trend involves the integration of TPMS with existing vehicle communication systems.  Previously, TPMS data was displayed in a separate light. Now, this data can be seamlessly incorporated into the instrument cluster or infotainment screen, offering drivers a more user-friendly experience and easier access to vital tire information.

So, things are really moving beyond simple tire pressure monitoring! These new "smart" TPMS sensors are doing so much more. I mean, they're not just checking pressure anymore; they're keeping an eye on tire temperature too, which can warn you about potential problems way ahead of time. And get thissome are even looking at battery-less designs, powered by vibrations or rotations – imagine never having to replace a battery again! But the coolest part is probably the predictive analytics. These sensors can analyze all that pressure and temperature data and actually predict when a tire issue might pop up. Think about itpreventative maintenance to avoid blowouts! Looking ahead, cloud connectivity is also becoming a thing. Imagine real-time tire data going straight to fleet management apps or your phone. That's a game-changer, especially for commercial vehicles, allowing for remote monitoring and way better fleet maintenance.

Security is a growing concern as TPMS becomes more sophisticated and integrated with vehicle communication systems. To address this, manufacturers are developing new protocols and encryption methods to safeguard TPMS data from hacking and manipulation.

Despite safety benefits, is there a gap between consumer awareness of TPMS and its actual use?

A potential gap exists between consumer awareness of tire pressure monitoring systems (TPMS) and their actual use.  Studies indicate that while many drivers are aware their vehicle possesses TPMS, a full understanding of its significance and how to respond to warning signals may be lacking.

So, why aren't people taking TPMS warnings seriously? Well, a lot of folks just don't really understand what TPMS does or what can happen if they ignore those low-pressure alerts. It's easy to see the light and think, "Oh, just another car thing," instead of realizing it's specifically about your tires. Even if they do know, some drivers might just brush it off – you know, thinking it's not a big deal, or wanting to put off getting it fixed because of the cost or hassle. And, let's be honest, sometimes the TPMS itself messes up! If that happens, people might just stop trusting the whole system. That's why we really need to do a better job of teaching people about TPMS. If everyone understood how it works, why keeping the right tire pressure is so important, and what the warning lights actually mean, the TPMS would be way more effective in keeping us safe.

Category-Wise Acumens

How Does Growth in Direct TPMS Propel the Demand in the Market?

The direct TPMS segment is estimated to dominate the market during the forecast period. Direct TPMS measures pressure directly with individual sensors on each tire. This gives highly accurate and real-time data on individual tire pressure, allowing drivers to respond quickly to even minor pressure fluctuations. Indirect TPMS, which is based on wheel speed sensor data, can be less precise and may not detect slow leaks as soon.

Many countries, including the United States, Europe, and South Korea, have adopted rules requiring TPMS in new automobiles. These requirements are motivated by safety considerations, as appropriate tire inflation lowers the risk of blowouts, increases fuel efficiency, and improves vehicle control. Direct TPMS, with its improved precision, is more suited to meeting these regulatory criteria.

Furthermore, Direct TPMS technology is always improving.  Sensors are becoming smaller and more energy-efficient, including functionality such as pressure and temperature monitoring. Also, direct TPMS can be used with ADAS features such as automated tire pressure adjustment systems to improve vehicle safety and performance.  These developments make direct TPMS an increasingly appealing alternative for automakers.

What are the Drivers Bolstering the Growth of the Passenger Vehicles?

The passenger vehicle segment is estimated to dominate the market during the forecast period. Many wealthy countries have adopted legislation requiring TPMS in new passenger automobiles. This governmental drive, combined with improved consumer knowledge of the safety benefits of TPMS, has resulted in much higher adoption rates in passenger cars.

Passenger vehicles are a substantially larger market segment than light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and other specialty vehicles. This correlates to the increased production volume of TPMS-equipped passenger vehicles, resulting in a larger market share for this sector. Also, as these vehicles age, there is a significant replacement market for TPMS sensors and components, which contributes to passenger vehicles’ dominance in the TPMS market.

Furthermore, the passenger car segment has a broader selection of TPMS systems and features available. This offers both direct TPMS (pressure sensors in each tire) and indirect TPMS (wheel speed sensor data), which cater to a variety of budgets and vehicle models. Passenger vehicles have a wider range of TPMS alternatives than other categories, which helps them maintain their market dominance.

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Country/Region-wise Acumens

Are there potential policy changes or incentives that could further encourage the adoption of advanced TPMS technology?

The potential for further encouraging the adoption of advanced TPMS technology in North America rests on several potential policy changes and incentives. Current TPMS mandates in North America might be limited to newly manufactured passenger vehicles.  Policy changes could expand these requirements to encompass Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), or even trailers. This would necessitate TPMS adoption in segments that currently lack them.  Furthermore, regulations could go beyond basic pressure monitoring and mandate the inclusion of advanced features like temperature monitoring or real-time data transmission within TPMS systems.

Hey, imagine if you got a tax break or a rebate just for putting a fancy new TPMS in your older car – that could get more people interested! And what if the government helped out trucking companies and other fleet operators by giving them subsidies to upgrade to advanced TPMS tech? That would make our roads safer and even save fuel. Plus, a government-sponsored campaign could really get the word out about how much safer advanced TPMS systems are, especially since they can catch those sneaky slow leaks that the basic ones miss. If we could just show folks all the cool things these advanced systems can do (like monitoring tire temperature or connecting to your smartphone!), they’d totally see why they're worth choosing over the cheapo versions.

Furthermore, collaboration between policymakers and TPMS manufacturers could lead to the development of cost-effective and standardized advanced TPMS technology, making it more accessible to consumers. Public-private partnerships between government agencies and tire safety organizations could promote educational initiatives focused on the importance of proper tire maintenance and the role of advanced TPMS technology. By implementing a combination of these approaches, policymakers and industry stakeholders can foster an environment that encourages the adoption of advanced TPMS technology. This would ultimately lead to a safer and more fuel-efficient transportation landscape in North America.

What are the key factors influencing consumer decisions regarding aftermarket TPMS installation in Asia Pacific?

Consumer decisions regarding aftermarket TPMS installation in the Asia Pacific region are influenced by a complex interplay of factors, with cost sensitivity often being the primary consideration. In many Asia Pacific markets, consumers are highly price-sensitive. The initial cost of aftermarket TPMS, encompassing sensor purchase and installation, can be a significant barrier, particularly for budget-conscious buyers.  However, the availability of affordable aftermarket TPMS options is crucial. This empowers consumers to choose a system that aligns with their budget, potentially making TPMS technology more accessible across the region.

Okay, so some folks really care about safety, right? If that's you, and you want super-accurate tire pressure readings and longer-lasting tires, you might be happy to pay extra for a really good TPMS. But hey, if you just want a warning when your tire's low, a basic TPMS might be just fine, especially if it's way cheaper after you buy the car. Now, over in Asia Pacific, some people really trust the big, global TPMS brands – they think those brands mean quality and that they can really count on them, even if they cost more. But things are changing! You've got local TPMS companies popping up in Asia Pacific that can save you some money. They might need to work on building that trust factor, but their lower prices could be tempting!

Okay, so in Asia Pacific, not everyone's clued in about TPMS and what it does, unlike places that are more developed. To get more people on board, we need to run some educational campaigns. These campaigns should show how TPMS is actually worth the investment. Thing is, Asia Pacific's a big, diverse place, so we gotta tailor those campaigns to fit different cultures. Pointing out how TPMS can save you money on gas and make your tires last longer, along with keeping you safe, might work better in some areas. TPMS makers and retailers? They need to figure out exactly what customers need and worry about. That's what'll get people to think about getting TPMS installed after they buy their car in the ever-changing Asia Pacific market.

Competitive Landscape

The automotive tire pressure monitoring system market thrives on a dynamic interplay between established industry leaders, innovative startups, and technology providers. This diverse landscape caters to the evolving needs of automakers and consumers alike, with a shared focus on safety and fuel efficiency.

Some of the prominent players operating in the automotive tire pressure monitoring system market include

  • SENSATA TECHNOLOGIES INC.
  • Continental AG
  • Goodyear Tire & Rubber Company
  • VALEO
  • Pacific Industrial Co. Ltd
  • Huf Hülsbeck & Fürst Co.
  • ZF Friedrichshafen AG
  • Schrader Electronics
  • NIRA Dynamics AB
  • Renesas Electronics Corporation Ltd.
  • Delphi Automotive LLP
  • Hampton Automotive Technology Co. Ltd
  • Orange Electronic Co Ltd
  • Denso Corporation
  • Bosch Gmbh
  • Hitachi Automotive Ltd
  • Hamaton
  • InnoTechRV

Latest Developments

  • In October 2022, Volvo Group, Qamcom Group, and inventor Roman Lustin established Fyrqom AB, a start-up providing automated TPMS calibration for heavy-duty vehicles.
  • In May 2022, Continental introduced an improved tire monitoring system, ContiPressureCheck, for its CombineMaster and CombineMaster VF tires, designed to monitor tire pressure and temperature.
  • In February 2022, Continental AG revealed its intention to improve India’s safety solution. India is the largest two-wheeler market in the world, and Continental is committed to providing ADAS, TPMS, and other intelligent and cost-effective safety solutions there.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Growth Rate

CAGR of 8.60% from 2024 to 2031

Base Year for Valuation

2024

Historical Period

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Type
  • Vehicle Type
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

SENSATA TECHNOLOGIES INC., Continental AG, Goodyear Tire & Rubber Company, VALEO, Pacific Industrial Co. Ltd, Huf Hülsbeck & Fürst Co., ZF Friedrichshafen AG, Schrader Electronics, NIRA Dynamics AB, Renesas Electronics Corporation Ltd., Delphi Automotive LLP, Hampton Automotive Technology Co. Ltd, Orange Electronic Co Ltd, Denso Corporation, Bosch Gmbh, Hitachi Automotive Ltd, Hamaton, InnoTechRV

Customization

Report customization along with purchase available upon request

Automotive Tire Pressure Monitoring System Market, By Category

Type

  • Direct TPMS
  • Indirect TPMS
  • Others

Vehicle Type

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Others

Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

We'll take a close look at the market using both qualitative and quantitative analysis, diving deep with segmentation based on economic and non-economic factors. You'll get market value data (in USD Billion) for every segment and sub-segment. We'll pinpoint the region and segment poised for the fastest growth and market dominance. Expect a geographical breakdown showing where the product/service is being used most and what's influencing the market in each region. Plus, we'll map out the competitive landscape, ranking the big players and highlighting recent launches, partnerships, expansions, and acquisitions. Our company profiles are packed with insightscompany overviews, product benchmarking, and SWOT analysis for major players. We'll give you the current and future market outlook, covering growth opportunities, drivers, challenges, and restraints in both emerging and developed regions. We'll even analyze the market from different angles using Porter’s five forces and provide a look at the market's Value Chain. Finally, we’ll lay out the market dynamics and future growth opportunities, and you'll get 6 months of post-sales analyst support to help you make the most of it.

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.

Pivotal Questions Answered in the Study

Some of the key players leading in the market Include Sensata Technologies Inc., Continental Ag, Goodyear Tire & Rubber Company, Valeo, Pacific Industrial Co. Ltd, Huf Hülsbeck & Fürst Co., Zf Friedrichshafen Ag, Schrader Electronics, Nira Dynamics Ab, Renesas Electronics Corporation Ltd., Delphi Automotive Llp, Hampton Automotive Technology Co. Ltd, Orange Electronic Co Ltd, Denso Corporation, Robert Bosch Gmbh, Hitachi Automotive Ltd, Hamaton, And Innotechrv.
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