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The global tire pressure monitoring system market size 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.
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 global TPMS market is driven by the increasing 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 are 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.
Increasing implementation of stringent safety regulations, rising demand for fuel-efficient vehicles, and increasing adoption of autonomous vehicles are propelling tire pressure monitoring system market growth
Date | Company | Product/Initiative | Description |
February 2024 | The Vredeveld Group | Implementation of Continental AG’s Digital Tire Monitoring Technology | 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. |
September 2023 | DENSO Corporation | Introduced “Everycool” | A commercial vehicle cooling system aimed at improving cooling efficiency. It also contributes to an environmentally conscious logistics industry. |
January 2024 | Goodyear and TDK | Partnered to Advance Intelligent Tire Technologies | To create a tire sensor system that improves vehicle efficiency, safety, and performance |
April 2023 | Continental AG | Tire Pressure Monitoring Systems | Started production of TPMS for cars in India to enhance vehicle safety through advanced tire monitoring technologies. |
Trends | Impact |
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 market growth as more consumers and governments opt for greener transportation. |
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 for TPMS as more vehicle manufacturers integrate advanced technologies and features. |
Increasing implementation of stringent safety regulations | 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. |
Expanding aftermarket segment and customer awareness | Tire pressure monitoring systems can extend the lifespan and durability of tires by reducing wear and tear. This trend will create more market opportunities as more customers seek to replace or upgrade their existing tire pressure monitoring systems. |
The increased preference for advanced driver assistance systems (ADAS) by customers due to their ability to enhance vehicular safety is aiding the tire pressure monitoring system 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.
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 tire pressure monitoring system market expansion. Additionally, the integration of TPMS with smartphones and other smart devices is creating new opportunities for the market players.
Global Tire Pressure Monitoring System Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Type | Direct TPMS, Indirect TPMS |
Vehicle Type | Passenger Cars, Commercial Vehicles |
Sales Channel | OEM, Aftermarket |
Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Direct TPMS are expected to hold a larger share in tire pressure monitoring system market due to their higher accuracy levels
Direct TPMS 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 Expert Market Research (EMR), 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 a growth during the forecast period due to its lower cost, easy installation, and reduced maintenance requirements.
Passenger cars dominates the market for TPMS due to rising sales of cars with enhanced road safety features
The passenger cars segment dominated the global tire pressure monitoring system (TPMS) market. 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.
Market players are increasing their production capacities and are engaged in partnerships to cater to the changing consumer demands
Company Name | Year Founded | Headquarters | Products/Services |
DENSO Corporation | 1949 | Kariya, Japan | Automotive components and systems, industrial products, consumer products, etc. |
Robert Bosch GmbH | 1886 | Gerlingen, Germany | Automotive parts and equipment, power tools, household appliances, security systems, etc. |
Hella KGaA Hueck and Co. | 1899 | Lippstadt, Germany | Automotive lighting, electronics, aftermarket, etc. |
Continental AG | 1871 | Hanover, Germany | Tires, brake systems, powertrain and chassis components, automotive safety, etc. |
Other tire pressure monitoring system companies are ZF Friedrichshafen AG, Pacific Industrial Co., Ltd., Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, and ATEQ Corp., among others.
North America and Europe are 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 (TPMS) market in North America. 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 fueled by the rising demand for connected car technologies and advanced driver assistance systems (ADAS).
The Asia Pacific tire pressure monitoring system market is anticipated to account for a significant share over the forecast period due to the rising vehicle production and sales in emerging economies such as Japan, China, India, and South Korea. The growing awareness among consumers about the benefits of TPMS, such as improved fuel efficiency, reduced tire wear, and enhanced road safety, are also propelling the regional market growth. Moreover, the increasing penetration of smart phones and internet of things (IoT) devices are creating opportunities for the development of innovative TPMS solutions that can communicate with the drivers through mobile applications, propelling the tire pressure monitoring system market growth.
The European tire pressure monitoring system market growth is expected to achieve significant growth due to the high adoption of TPMS in the region. The European Union (EU) has mandated the installation of TPMS in all new passenger cars since 2014, which has boosted the demand for TPMS in the region. The rising environmental concerns and the need to reduce carbon emissions are also encouraging the consumers to opt for TPMS, as it can help in optimising the tire pressure and reducing the 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.
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:
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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 (2018-2023)
8.3 Global Tire Pressure Monitoring System Market Forecast (2024-2032)
8.4 Global Tire Pressure Monitoring System Market by Type
8.4.1 Direct TPMS
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Indirect TPMS
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Tire Pressure Monitoring System Market by Vehicle Type
8.5.1 Passenger Cars
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial Vehicles
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Tire Pressure Monitoring System Market by Sales Channel
8.6.1 OEM
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Aftermarket
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Tire Pressure Monitoring System Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Tire Pressure Monitoring System Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Tire Pressure Monitoring System Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Tire Pressure Monitoring System Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Tire Pressure Monitoring System Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Tire Pressure Monitoring System Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 2032
2. Global Tire Pressure Monitoring System Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Tire Pressure Monitoring System Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Tire Pressure Monitoring System Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
5. Global Tire Pressure Monitoring System Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
6. Global Tire Pressure Monitoring System Historical Market: Breakup by Sales Channel (USD Billion), 2018-2023
7. Global Tire Pressure Monitoring System Market Forecast: Breakup by Sales Channel (USD Billion), 2024-2032
8. Global Tire Pressure Monitoring System Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Tire Pressure Monitoring System Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Tire Pressure Monitoring System Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Tire Pressure Monitoring System Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Tire Pressure Monitoring System Market Structure
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.
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