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Report Overview

The global tire pressure monitoring system market was valued at USD 7.01 billion in 2023. The market is further projected to grow at a CAGR of 9.4% between 2024 and 2032, reaching a value of USD 15.81 billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Tire Pressure Monitoring System Market Insights

  • 4.58 million passenger cars were produced in India in 2023.
  • In 2023, India produced over a million commercial vehicles.
  • In 2019, commercial vehicles worth over EUR 65 million were imported by the European Union from India. India exported medium- and heavy-duty commercial vehicles in addition to light-duty vehicles.
  • China continues to be the largest market in the world for passenger cars, with a rising demand for electric vehicles (EVs).
Global Tire Pressure Monitoring System Market Summary Description Value
Base Year USD Billion 2023
Historical period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 7.01
Market Size 2032 USD Billion 15.81
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 9.4%
CAGR 2024-2032 - Market by Region Asia Pacific 10.8%
CAGR 2024-2032 - Market by Country India 12.4%
CAGR 2024-2032 - Market by Country China 10.4%
CAGR 2024-2032 - Market by Type Direct TPMS 10.5%
CAGR 2024-2032 - Market by Vehicle Type Passenger Cars 10.7%
Market Share by Country 2023 UK 3.5%

Tire Pressure Monitoring System Market Overview

A tire pressure monitoring system (TPMS) is a technology that keeps track of the air pressure in tires and notifies the driver when the pressure is too high or low. A TPMS can improve fuel efficiency, safety and vehicle performance, and tire life by preventing under-inflation or over-inflation of tires.

The tire pressure monitoring system market value is fuelled by rising demand for automobiles across the globe, especially in emerging economies such as India, China, Mexico, and Brazil. The rising awareness among consumers about the benefits of TPMS and the stringent regulations imposed by various governments to ensure road safety is also contributing to the tire pressure monitoring system market growth.

Moreover, the wide adoption of advanced driver assistance systems (ADAS), the emergence of smart tires, and the development of wireless, solar-powered, and battery less TPMS are some of the factors that are likely to create new opportunities for the tire pressure monitoring system market development.

Tire Pressure Monitoring System Market Trends

Growing Demand for Fuel-Efficient and Eco-Friendly Vehicles

Tire pressure monitoring systems can improve fuel efficiency and reduce greenhouse gas emissions by maintaining optimal tire pressure. This trend will boost the tire pressure monitoring system market revenue as more consumers and governments opt for greener transportation. The U.S. Environmental Protection Agency (EPA) indicates that maintaining optimal tire pressure can improve fuel efficiency by approximately 1%, which is equal to annual fuel savings of around 100 gallons for long-haul trucks. Additionally, this practice can prevent the release of nearly one metric ton of CO2 emissions each year, underscoring the significance of Tire Pressure Monitoring Systems (TPMS) in promoting sustainability initiatives. 

Research conducted by the International Council on Clean Transportation (ICCT) further supports the idea that improperly inflated tires contribute to increased fuel consumption and, consequently, increased greenhouse gas emissions. In regions such as the European Union, the implementation of TPMS is anticipated to aid in the reduction of CO2 emissions from passenger vehicles, aligning with broader regulatory efforts aimed at minimising the environmental impact of the transportation sector.

Rising Adoption of Autonomous And Connected Vehicles

Tire pressure monitoring systems can enhance the safety and performance of autonomous and connected vehicles by providing real-time data and alerts. This trend will increase the demand of tire pressure monitoring system market as more vehicle manufacturers integrate advanced technologies and features.

For instance, Goodyear and Gatik have partnered to integrate Goodyear's SightLine technology into Gatik's autonomous delivery vehicles. This high-end technology enables ongoing monitoring of tire health and road conditions, transmitting real-time data to the vehicle's control system. As a result, the autonomous fleet can modify various parameters, including braking, cornering, and tire load, in response to road conditions and payload, thereby improving safety and operational reliability. The use of real-time tire data has further helped Gatik reduce downtime, enhance delivery efficiency, and boost safety in their autonomous logistics operations across North America.

Industry News

February 2024

The Vredeveld Group implemented Continental AG’s Digital Tire Monitoring Technology which allows for 24/7 monitoring of vehicles and offers features such as tracking the location of drivers and reducing breakdowns, fuel consumption, and CO2 emissions.

January 2024

Goodyear and TDK established a partnership to advance intelligent tire technologies to create a tire sensor system that improves vehicle efficiency, safety, and performance.

Opportunities in Tire Pressure Monitoring System Market

Increasing implementation of stringent safety regulations is a crucial trend of tire pressure monitoring system market. Tire pressure monitoring systems can prevent tire blowouts and accidents caused by underinflated or overinflated tires. This trend will drive the market value as more countries and regions mandate the installation of tire pressure monitoring systems in new vehicles. The increased preference for advanced driver assistance systems (ADAS) by customers due to their ability to enhance vehicular safety is aiding the market growth because TPMS helps to lower the risk of accidents and breakdowns. The sales of luxury vehicles with advanced tire pressure monitoring systems are also increasing due to their ability to improve passenger safety.

For instance, In the European Union, the upcoming implementation of the second phase of the General Safety Regulation (GSR II), set to take effect in July 2024, requires that all newly manufactured vehicles, including commercial trucks, be equipped with tire pressure monitoring Systems (TPMS) to enhance road safety.

Tire Pressure Monitoring System Market Restraints

The costs associated with TPMS technology can pose a significant obstacle, particularly for consumers in price-sensitive markets. While direct TPMS systems are recognised for their high accuracy, they also come with higher production and installation expenses. This price sensitivity often leads consumers, especially in the aftermarket sector, to opt for cheaper alternatives that may not comply with safety standards, potentially hindering the growth of premium TPMS products and affecting the tire pressure monitoring system demand forecast.

TPMS sensors depend on batteries that have a limited lifespan, typically requiring replacement every few years. For older vehicles, maintaining these sensors can be both expensive and inconvenient, which may deter consumers from adopting or keeping TPMS in the long run. This challenge could slow the continued adoption of TPMS, particularly in markets where vehicles are used for extended periods.

Market Dynamics

Tire pressure monitoring systems can extend the lifespan and durability of tires by reducing wear and tear. This trend will create more tire pressure monitoring system market opportunities as more customers seek to replace or upgrade their existing tire pressure monitoring systems.  A report from AAA indicates that proper tire pressure management through Tire Pressure Monitoring Systems (TPMS) can significantly increase tire life span. Underinflated tires often experience uneven wear and are at a higher risk of punctures. By preventing underinflation, TPMS is essential for extending tire life and improving vehicle safety. Additionally, research has demonstrated that vehicles equipped with TPMS exhibit superior tire performance, leading to fewer tire replacements and ultimately saving money for vehicle owners over time.

The expansion of the automotive sector and growing vehicle ownership due to increased reliance on mobility solutions for commuting coupled with rising disposable incomes are resulting in system market expansion. Additionally, the integration of TPMS with smartphones and other smart devices is creating new opportunities for the market players.

Tire Pressure Monitoring System Industry Segmentation

Global Tire Pressure Monitoring System Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Based on type, the market is divided into:

  • Direct TPMS
  • Indirect TPMS

On the basis of vehicle type, the market is classified into:

  • Passenger Cars
  • Commercial Vehicles

Based on sales channel, the market is categorised into:

  • OEM
  • Aftermarket

Based on region, the market is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
CAGR 2024-2032 - Market by Country
India 12.4%
China 10.4%
UK 8.6%
USA 8.4%
Germany 7.7%
Canada XX%
France XX%
Italy XX%
Japan 6.5%
Australia XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

Tire Pressure Monitoring System Market Share

By Type Insights

Direct TPMS are expected to grow at a CAGR of 10.5% in the forecast period. It uses pressure sensors in each tire to measure the air pressure and transmit the data to a central control unit. The indirect TPMS compares the rotational speed of the tires to determine the tire pressure using the wheel speed sensors of anti-lock braking system. According to tire pressure monitoring system industry analysis, the direct TPMS segment accounts for a larger tire pressure monitoring system market share due to its higher accuracy, reliability, and compatibility with various vehicle models.

Direct TPMS have sensors in each wheel which allows them to provide instant and more accurate warnings as compared to indirect TPMS. Their ability to detect temperature changes, individual tire conditions, and slow leaks is also boosting the demand for tire pressure monitoring systems. The indirect TPMS segment, however, is expected to witness growth during the forecast period due to its lower cost, easy installation, and reduced maintenance requirements.

By Vehicle Type Insights

The passenger cars segment dominated the global tire pressure monitoring system (TPMS) market share and is expected to grow at a CAGR of 10.7% between 2024 to 2032. This segment is expected to maintain its leading position throughout the forecast period, as more countries are mandating the installation of TPMS in passenger cars to enhance road safety and reduce greenhouse gas emissions. Some of the key factors driving the demand for TPMS in passenger cars are the rising consumer awareness, the increasing disposable income, and the growing preference for luxury and smart vehicles.

The commercial vehicles segment, on the other hand, is expected to register a promising CAGR in the TPMS market. The segment’s growth can be attributed to the benefits of TPMS in improving the fuel efficiency, performance, and lifespan of commercial vehicles, such as trucks, buses, and trailers. TPMS can also help prevent tire blowouts, rollovers, and skidding, which are common causes of accidents and fatalities involving commercial vehicles. Moreover, the rising demand for commercial vehicles in emerging markets, such as China, India, and Brazil, is expected to boost the adoption of TPMS in this segment.

By Sales Channel Insights

OEM TPMS solutions are tailored for specific vehicle models, ensuring seamless integration with the vehicle's onboard systems. This often includes the vehicle's dashboard, enabling drivers to receive real-time tire pressure alerts. As per the tire pressure monitoring system market dynamics and trends, OEM-installed TPMS adheres to regulatory standards in regions with strict safety requirements, such as the United States, the European Union, and certain parts of Asia. The growing demand for OEM TPMS is primarily driven by stricter safety regulations that require TPMS in new vehicles. Furthermore, automakers are adding advanced features like real-time monitoring and compatibility with advanced driver assistance systems (ADAS), enhancing both safety and the overall user experience.

Tire Pressure Monitoring System Market Regional Analysis

North America Tire Pressure Monitoring System Market Drivers

North America is one of the leading regions due to the presence of leading market players. The government's strict regulations aimed at ensuring vehicle safety and reducing fuel consumption are expected to drive significant growth in the tire pressure monitoring system industry in North America. The USA market is expected to depict a CAGR of 8.4% in the forecast period. According to the National Highway Traffic Safety Administration (NHTSA), TPMS became mandatory for all passenger vehicles sold in the USA since 2008. The adoption of TPMS in the region is also being fuelled by the rising demand for connected car technologies and advanced driver assistance systems (ADAS).

Asia Pacific Tire Pressure Monitoring System Market Trends

The Asia Pacific is anticipated to grow at a CAGR of 10.8% over the forecast period due to the rising vehicle production and sales in emerging economies such as Japan, China, India, and South Korea. India and China are expected to grow at a CAGR of 12.4% and 10.4% respectively between 2024 and 2032, boosting the tire pressure monitoring system demand growth.

The growing awareness among consumers about the benefits of TPMS, such as improved fuel efficiency, reduced tire wear, and enhanced road safety, is also propelling regional market growth. Moreover, the increasing penetration of smartphones and Internet of Things (IoT) devices are creating opportunities for the development of innovative TPMS solutions that can communicate with drivers through mobile applications, propelling the tire pressure monitoring system market growth.

Europe Tire Pressure Monitoring System Market Growth

The market growth in the region is boosted by the high adoption of TPMS in the region with countries such as the UK and Germany expected to witness CAGRs of 8.6% and 7.7%. The European Union (EU) has mandated the installation of TPMS in all new passenger cars since 2014, which has boosted the tire pressure monitoring system demand in the region. The rising environmental concerns and the need to reduce carbon emissions are also encouraging consumers to opt for TPMS, as it can help in optimising tire pressure and reducing fuel consumption. Furthermore, the rise in research and development activities and the presence of leading players such as Robert Bosch GmbH, Denso Corporation, and Huf Hülsbeck & Fürst GmbH & Co. KG are increasing the tire pressure monitoring system market size in Europe.

Middle East and Africa Tire Pressure Monitoring System Market Outlook

The market in the Middle East and Africa (MEA) is experiencing steady growth, driven by several factors including rising vehicle sales, the introduction of new safety regulations, and increased awareness of vehicle maintenance, which can increase tire pressure monitoring system industry revenue.

In this region, countries like Saudi Arabia and the United Arab Emirates are leading the way, with government policies emphasising the significance of road safety. For instance, Saudi Arabia has prioritized road safety by integrating TPMS to monitor tire conditions, reduce accident risks, and improve fuel efficiency as part of its broader sustainability efforts.

Latin America Tire Pressure Monitoring System Market Drivers

The market growth in Latin America is fuelled by a rise in vehicle manufacturing, enhanced economic conditions, and the establishment of new safety regulations. Brazil and Mexico are leading this demand, as both countries witness advancements in their automotive sectors, fuelling the tire pressure monitoring system market expansion. Brazil has enacted safety regulatory standards that mandate the incorporation of TPMS across different vehicle categories. This initiative aims to address the growing incidence of road accidents linked to tire malfunctions, as TPMS plays a crucial role in maintaining proper tire inflation and providing real-time monitoring.

Innovative Tire Pressure Monitoring System Startups

Several new startups are increasingly focusing on the development of smart tire technology that can provide insights into road conditions and tire performance metrics. For instance, some of these companies are exploring smart tires equipped with sensors that can detect factors like road friction and load, which are crucial for autonomous vehicles. These technological advancements improve driving safety by allowing vehicles to adjust their operations based on tire data and real-time environmental information.

Aperia Technologies

Aperia, located in California, has introduced the Halo Connect i3, a comprehensive tire monitoring and self-inflation system tailored for medium and heavy-duty trucks. This innovative system delivers real-time data on tire health and predictive maintenance insights through advanced machine learning techniques, enabling fleet managers to enhance both uptime and fuel efficiency.

Uptake

This startup based in Chicago in tire pressure monitoring system market has developed a range of tire management solutions that can enhance fuel efficiency by as much as 5% while facilitating the early detection of tire leaks. Uptake’s software is designed to monitor fluctuations in tire pressure and identify sensor irregularities, thereby assisting fleets in preserving tire integrity and preventing expensive breakdowns. Their predictive analytics platform is specifically engineered to identify potential issues at an early stage, providing actionable insights that significantly mitigate the risk of tire-related failures.

Competitive Landscape

Market players are increasing their production capacities and are engaged in partnerships to cater to the changing consumer demands. The transition to electric mobility is making the Tire Pressure Monitoring System (TPMS) increasingly essential for electric vehicles (EVs), as it plays a vital role in maintaining tire efficiency and safety which are key considerations for battery-powered vehicles. Several companies now incorporate TPMS as a standard feature, offering real-time tire pressure information that contributes to enhanced safety and operational efficiency. This trend is anticipated to expand as additional automotive manufacturers adopt TPMS within their EV platforms, thereby generating significant market opportunities.

Key Industry Players

DENSO Corporation

Founded in 1949 and based in Kariya, Japan, the company is known for its range of automotive components and systems, industrial products, and consumer products, among others.

Robert Bosch GmbH

Founded in 1886 and based in Gerlingen, Germany, the company is known for its automotive parts and equipment, power tools, household appliances, security systems, etc.

Hella KGaA Hueck and Co.

Founded in 1899 and based in Lippstadt, Germany, this company is known for its automotive lighting, electronics, and aftermarket, among others.

Continental AG

Founded in 1871 and based in Hanover, Germany, the company is known for its tires, brake systems, powertrain and chassis components, and automotive safety, among others.

Other tire pressure monitoring system market companies are ZF Friedrichshafen AG, Pacific Industrial Co., Ltd., Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, and ATEQ Corp., among others.

Recent Developments

September 2023

DENSO Corporation introduced “Everycool”, a commercial vehicle cooling system aimed at improving cooling efficiency. It also contributes to an environmentally conscious logistics sector.

April 2023

Continental AG announced Tire Pressure Monitoring Systems which started production of TPMS for cars in India to enhance vehicle safety through advanced tire monitoring technologies.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the tire pressure monitoring system market reached an approximate value of USD 7.01 billion.

The market is expected to grow at a CAGR of 9.4% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 15.81 billion by 2032.

Dramatic changes in weather, driving, and tire age can affect tire pressure. Sudden cold can cause low pressure readings as the air inside the tire contracts. Hot weather temperatures can cause tire pressure to rise as the air inside the tire expands.

The batteries that power TPMS sensors have a lifespan of five to ten years, where the amount of driving and the road conditions affects the sensor battery life.

Direct TPMS uses sensors within each tire to monitor pressure and temperature. It is more accurate and provides real-time information. Indirect TPMS measures wheel rotation to estimate tire pressure.

The major market drivers include expansion of the automotive sector and increased emphasis on road safety.

Key trends aiding market expansion include rising incorporation of advanced driver assistance systems in luxury vehicles and provision of enhanced driving experience by tire pressure monitoring systems.

Major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

OEM and aftermarket are the main sales channels for TPMS.

Key players in the market are DENSO Corporation, Robert Bosch GmbH, Hella KGaA Hueck and Co., Continental AG, ZF Friedrichshafen AG, Pacific Industrial Co., Ltd., Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, and ATEQ Corp., among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Vehicle Type
  • Sales Channel
  • Region
Breakup by Type
  • Direct TPMS
  • Indirect TPMS
Breakup by Vehicle Type
  • Passenger Cars
  • Commercial Vehicles
Breakup by Sales Channel
  • OEM
  • Aftermarket
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • DENSO Corporation 
  • Robert Bosch GmbH 
  • Hella KGaA Hueck and Co. 
  • Continental AG 
  • ZF Friedrichshafen AG 
  • Pacific Industrial Co., Ltd. 
  • Sensata Technologies, Inc. 
  • Huf Hülsbeck & Fürst GmbH & Co. KG 
  • ATEQ Corp. 
  • Others

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