Global Automotive TPMS Market is segmented BY PRODUCT TYPE (Direct TPMS, Indirect TPMS), BY VEHICLE TYPE (Passenger vehicle, Commercial vehicle, Heavy duty vehicle), BY SALES CHANNEL (OEM, Aftermarket), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Market Overview

[150 Pages Report] The Global Automotive TPMS Market is expected to grow at a High CAGR during the forecasting period (2022-2029).

Automotive TPMS Market - Strategic Insights

Metrics	Details
Market CAGR	High
Segments Covered	By Product Type, By Vehicle Type, By Sales Channel, and By Region
Report Insights Covered	Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.
Fastest Growing Region	Asia Pacific
Largest Market Share	North America

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Tire pressure monitoring systems (TPMS) may warn you if your tires are under or over-inflated, helping increase your fuel economy and even potentially preventing a tire blowout.
There are two main types of TPMS sensors. Direct sensors are small, wireless devices inside each tire, which report the tire’s pressure reading to your dashboard.
Indirect sensors work by measuring wheel spin and can only tell if a tire’s pressure is low.
The United States Department of Transportation (DOT) National Highway Traffic Safety Administration (NHTSA) has developed a Federal Motor Vehicle Safety Standard that requires the installation of tire pressure monitoring systems (TPMS).
The standard applies to passenger cars, trucks, multipurpose passenger vehicles, and buses with a gross vehicle weight rating of 10,000 pounds or less, except those vehicles with dual wheels on an axle. The NHTSA estimates that TPMS saves 660 lives per year, as well as preventing 3300 injuries and saving USD 511 million worth of gas.

Market Drivers

Tire pressure maintenance is an important safety issue throughout the automotive industry and caused the U.S. government to pass legislation mandating tire pressure monitoring systems.
TPMS can increase your safety on the road by improving your vehicle’s handling, decreasing tire wear, reducing braking distance, and bettering fuel economy.
The high number of accidents occurring worldwide due to tire failures has increased the need for advanced safety systems, such as TPMS in automobiles.

Market Restraints

The sensors used in TPMS have colossal replacement costs, which are restraining the growth of the global TPMS market.
For instance, OEM sensors are still dealer-only items that can cost USD 80-USD 140 per piece. While aftermarket replacements are beginning to enter the market, for now replacing a sensor can be an expensive proposition.

Market Segmentation

By Product Type

Direct tire pressure monitoring systems measure, identify, and warn the driver of low pressure. Because direct systems have a sensor in each wheel, they generate accurate warnings and can alert the driver instantly if the pressure in any one tire falls below a predetermined level due to rapid air loss caused by a puncture. It can also detect gradual air loss over time.
Indirect systems use the vehicle’s anti-lock braking system’s wheel speed sensors to compare the rotational speed of one tire to that in another position on the car. If one tire is low on pressure, its circumference changes enough to roll at a slightly different number of revolutions per mile than the other three tires, thus providing the tire pressure information to the driver.

Geographical Share

North America accounted for the largest market share of the global TPMS market in 2017, followed by Europe and the Asia Pacific. The increasing demand from emerging markets, such as India and China, is a result of the rising demand for automobiles (especially luxury vehicles).
Many regions are making continued progress toward TPMS adoption. Primarily for environmental reasons, European countries (via United Nations regulation UNECE-R64) have adopted legislation for new models beginning in November 2012, and for all vehicles starting in November 2014. South Korea has taken similar TPMS legislation to that of Europe. Likewise, countries such as Japan, China, and India are in the process of investigating TPMS technology as well.

Competitive Landscape

Companies are undergoing new product launches in TPMS is driving the market competitiveness. For instance, In January 2018, Garmin launched its GTP400KIT as an aftermarket TPMS fitment.
In November 2017, Continental Automotive showcased its latest range of TPMS, which uses a high-frequency signal to send coded information to the receiver.
In 2016, Pacific Industrial Co. Ltd. has introduced a new plant in China, which was founded in anticipation of legislation mandating the installation of Tire Pressure Monitoring Systems (TPMS) in vehicles; and new aluminum dies cast plant in Korea, which has been expanded to meet increasing market demand.
In July 2018, TireStamp announced TireVigil Cloud 2.0, a tire pressure monitoring system that checks each hardware component’s health and detects problems with tire sensors, external TPMS receivers, and in-cab electronic equipment.
In July 2018 Xiaomi has launched the ‘Smart Tire Pressure Monitoring System,’ which is a Mi ecosystem device.

Why purchase the report?

• Visualize the composition of the automotive TPMS market across each indication, regarding the product type, vehicle type, and sales channel highlighting the vital commercial assets and players.

• Identify business opportunities in the automotive TPMS market by analyzing trends and co-development deals.

• Excel data sheet with thousands of data points of the automotive TPMS market-level 4/5 segmentation

• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

• Product mapping in excel for the automotive TPMS products of all major market players

Target Audience

• Raw Material Suppliers/ Buyers

• Product Suppliers/ Buyers

• Industry Investors/Investment Bankers

• Education & Research Institutes

• Research Professionals

• Emerging Companies

• Manufacturer

FAQ

What is the Automotive TPMS Market growth?

The market is growing at a High CAGR.

What is the Automotive TPMS Market size in 2021?

The Market size was valued at USD YY million in 2021.

Automotive TPMS Market

Market Overview