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Global Tire Pressure Monitoring System Market Size, Share, Forecast: By Type: Direct TPMS, Indirect TPMS; By Vehicle Type: Passenger Cars, Commercial Vehicles; By Sales Channel: OEM, Aftermarket; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2023-2028
Global Tire Pressure Monitoring System Market Outlook
The global tire pressure monitoring system market size reached approximately USD 6.40 billion in 2022. The market is further projected to grow at a CAGR of 9.6% between 2023 and 2028, reaching a value of USD 10.96 billion by 2028.
Key Trends in the Market
Tire pressure monitoring systems refer to devices used by auto makers for monitoring the air pressure in tires. The system notifies the individual when the tire pressure is decreasing or going flat, improving vehicle handling and increasing passenger safety while driving. The battery-operated sensors measure the inflation pressure of the tire and send the coded information to the receiver.
- The increased preference for advanced driver assistance systems by customers due to their ability to enhance vehicular safety by incorporating major driving assistance functions is aiding the tire pressure monitoring system market growth. The sales of luxury vehicles with advanced tire pressure monitoring systems are also increasing due to their ability to improve passenger safety.
- The growing awareness about the various advantages associated with the utilisation of tire pressure monitoring systems including avoiding accidents, decreased wear in tires, and improved fuel economy, among others is boosting the market expansion.
- 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 offering lucrative growth opportunities to the market. The hike in car ownership can be attributed to the inadequacy and unavailability of public transportation in various locations and to the ease of driving.
Global Tire Pressure Monitoring System Market Analysis
On the basis of type, the market is bifurcated into direct TPMS and indirect TPMS. Based on vehicle type, the market is divided into passenger cars and commercial vehicles. On the basis of sales channel, the market is classified into OEM and aftermarket. Based on region, the tire pressure monitoring system market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- 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
Market Share by Type
Direct TPMS is anticipated to account for a significant share of the market in the coming years. These tire pressure monitoring systems have sensors in each wheel which allows them to provide instant and more accurate warnings as compared to their indirect counterparts. Their ability to detect temperature changes, individual tire conditions, and slow leaks is also boosting the tire pressure monitoring system demand. The sensors present in the direct TPMS transmit data to a central receiver wirelessly and display the information on the screen or the dashboard indicator.
Market Share by Region
The Asia Pacific is anticipated to account for a significant tire pressure monitoring system share over the forecast period. This growth can be attributed to the adoption of advanced driver-assistance systems in the region for enhancing road safety. Increased efforts of various governments in the region to promote vehicular safety by introducing new safety regulations are also supporting the market expansion as underinflated tires may lead to loss of tire without warning due to pressure and heat buildup, resulting in potentially fatal accidents while driving on busy roads and highways.
Competitive Landscape
DENSO Corporation, headquartered in Aichi, Japan, is an automotive component manufacturer that is dedicated towards the development of new technologies to create value in the field of transportation and mobility. The company was founded in 1947 and has various subsidiaries including Denso Wave and Denso Ten, among others.
Robert Bosch GmbH specialises in mobility solutions, artificial intelligence, sustainable technologies, energy and building technology, and industrial technology, among others. The company was founded 1886 and is headquartered in Gerlingen, Germany.
Continental AG was founded in 1871 and is headquartered in Hanover, Germany. The company is known for developing pioneering technologies and offering safe and efficient solutions for machines and transportation. Continental also specialises in development of tire pressure monitoring systems.
Other tire pressure monitoring system key players include Hella KGaA Hueck and Co., ZF Friedrichshafen AG, Pacific Industrial Co., Ltd., Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, and ATEQ Corp., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Vehicle Type |
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| Breakup by Sales Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Tire Pressure Monitoring System Market Analysis
8.1 Key Industry Highlights
8.2 Global Tire Pressure Monitoring System Historical Market (2018-2022)
8.3 Global Tire Pressure Monitoring System Market Forecast (2023-2028)
8.4 Global Tire Pressure Monitoring System Market by Type
8.4.1 Direct TPMS
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Indirect TPMS
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Tire Pressure Monitoring System Market by Vehicle Type
8.5.1 Passenger Cars
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Commercial Vehicles
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Tire Pressure Monitoring System Market by Sales Channel
8.6.1 OEM
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Aftermarket
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Tire Pressure Monitoring System Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Tire Pressure Monitoring System Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Tire Pressure Monitoring System Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Tire Pressure Monitoring System Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Tire Pressure Monitoring System Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Tire Pressure Monitoring System Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 DENSO Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Robert Bosch GmbH
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Hella KGaA Hueck and Co.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Continental AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 ZF Friedrichshafen AG
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Pacific Industrial Co., Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Sensata Technologies, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Huf Hülsbeck & Fürst GmbH & Co. KG
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 ATEQ Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Tire Pressure Monitoring System Market: Key Industry Highlights, 2018 and 2028
2. Global Tire Pressure Monitoring System Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Tire Pressure Monitoring System Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Tire Pressure Monitoring System Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2022
5. Global Tire Pressure Monitoring System Market Forecast: Breakup by Vehicle Type (USD Billion), 2023-2028
6. Global Tire Pressure Monitoring System Historical Market: Breakup by Sales Channel (USD Billion), 2018-2022
7. Global Tire Pressure Monitoring System Market Forecast: Breakup by Sales Channel (USD Billion), 2023-2028
8. Global Tire Pressure Monitoring System Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Tire Pressure Monitoring System Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Tire Pressure Monitoring System Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 6.40 billion in 2022.
The market is projected to grow at a CAGR of 9.6% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 10.96 billion by 2028.
The major market drivers include expansion of the automotive sector and increased emphasis on road safety.
The key trends fuelling the growth of the market include rising incorporation of advanced driver assistance systems in luxury vehicles and provision of enhanced driving experience by tire pressure monitoring systems.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant sales channels include OEM and aftermarket.
The 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.
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