Overview
The automotive tire pressure monitoring systems market size was valued at USD 8.38 billion in 2022 and is expected to grow USD 23.52 billion by 2032 at a CAGR of around 10.10% from 2023 to 2032.
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Report Highlights
- Gain access to detailed quantitative analysis covering market segments, trends, estimations, and dynamics from 2023 to 2032.
- Identify current and emerging opportunities within the tire pressure monitoring system market for strategic planning and resource allocation.
- Understand key drivers, restraints, and opportunities influencing market dynamics to anticipate shifts and adapt strategies effectively.
- Utilize Porter's five forces analysis to evaluate market competitiveness, supporting profit-oriented decision-making and supplier-buyer relationship optimization.
- Pinpoint specific market opportunities within different segments for targeted marketing efforts and product development strategies.
- Understand regional market dynamics by mapping major countries according to their revenue contribution, aiding in investment prioritization.
- Benchmark performance against competitors for a clear understanding of market position and performance evaluation.
Summary
The automotive tire pressure monitoring system (TPMS) market is dominated by key players like Sensata Technologies, Continental, and ZF TRW, offering both OEM and aftermarket solutions. TPMS technology alerts drivers to low tire pressure, enhancing safety and efficiency, although it typically activates after a 25% pressure loss. Market trends include TPMS integration in electric vehicles, direct TPMS adoption for precision, and emphasis on commercial vehicle TPMS for safety and cost savings. Key drivers include TPMS's role in vehicle safety systems and its contribution to fuel efficiency, while concerns about TPMS signal tracking and lack of standardization pose restraints. Opportunities lie in emerging markets like India and the growing electric vehicle segment. Despite COVID-19 disruptions, the Asia-Pacific region is poised for substantial TPMS market growth. Market segmentation covers product types, vehicle types, sales channels, propulsion types, and geographic regions.
Automotive Tire Pressure Monitoring System Market Overview
The vehicle TPMS market is somewhat concentrated, with many worldwide, tier 2 and 3 providers. Sensata Technologies, Huf Electronics, Continental, Infineon Technology, Lear Corporation, and ZF TRW lead the OEM supplier industry.
- For example, in June 2022, Continental, a prominent innovator and producer of OEM and aftermarket tire pressure monitoring systems and diagnostic tools, unveiled a new package design for its next-generation REDI-Sensor Multi-Application tire pressure monitoring system sensors. It was the result of Continental AG's extensive research and development in this area.
TPMS detects when the tires are running too low pressure. The advantage of this system is that it automatically warns of tire pressure. This saves time and ensures that the correct amount of tire pressure is present before leaving. It also has one disadvantage: it only acts after your tires have lost 25% of their air, which is around 0.5 bar on average.
- In November 2021, KRAIBURG Austria announced the debut of TYLOGIC, a revolutionary, web-based tire pressure monitoring system that accurately identifies gradual or abrupt pressure drop, potential mechanical damage to the truck's axles or brakes, or the impending end of the normal tire mileage.
One of the fundamental reasons why automakers select items from large manufacturers is the need for high-quality and long-lasting products. Furthermore, these major competitors expanded their R&D investment substantially to combine vehicle TPMS with other safety-related technologies.
Automotive Tire Pressure Monitoring System Market Trends
Integration of TPMS in Electric Vehicles (EVs)
- With the rise of electric vehicles (EVs), TPMS integration has become more crucial. To maximize range and battery life, electric vehicles require accurate tire pressure monitoring. Manufacturers are creating TPMS systems exclusively for EVs, which will include sophisticated features like real-time pressure monitoring and alarms suited to electric vehicle characteristics. This trend emphasizes the rising importance of TPMS in the electric vehicle category, as well as its role in improving vehicle performance and safety.
Adoption of Direct TPMS
- Through the use of sensors installed within the tire, direct TPMS systems detect tire pressure directly. Direct TPMS offers precise, real-time tire pressure readings, in contrast to indirect TPMS, which derives tire pressure estimates using wheel speed sensors. Direct TPMS is becoming more and more popular because of its exceptional accuracy and dependability. Direct TPMS integration is becoming more common among automakers in order to meet legal requirements while also improving general performance and safety.
Emphasis on Tire Pressure Monitoring in Commercial Vehicles
- Tire maintenance is crucial in the commercial vehicle industry to ensure safety and save operating expenses. As a result, commercial trucks increasingly rely on tire pressure monitoring devices. Fleet operators are investing in TPMS solutions to track tire pressure in real time, detect irregularities, and avoid tire failures. This development underscores the industry's dedication to increasing road safety and streamlining fleet operations with modern TPMS technology.
Integration of TPMS with Vehicle Telematics
- Manufacturers are connecting TPMS systems with vehicle telematics platforms to boost their functionality. Telematics-enabled TPMS systems may provide tire pressure data to a single dashboard for real-time monitoring and analysis. This interface enables fleet managers to monitor tire performance, receive notifications for low pressure or temperature abnormalities, and plan repair in advance. By integrating TPMS and telematics, manufacturers may provide comprehensive solutions that increase vehicle safety and efficiency.
Growth of Aftermarket TPMS Solutions
- As the need of tire pressure monitoring becomes more generally acknowledged, there is a high demand for aftermarket TPMS systems. Consumers are increasingly installing aftermarket TPMS systems in their vehicles to increase safety and regulatory compliance. Aftermarket TPMS systems offer a low-cost alternative to retrofitting older vehicles with sophisticated tire pressure monitoring capabilities, which is driving growth in this segment of the TPMS market.
Development of Smart TPMS Sensors
- Smart TPMS sensors have sophisticated features like Bluetooth connectivity, tire temperature monitoring, and predictive analytics. These sensors can interact with cellphones and car infotainment systems, giving drivers real-time tire information and alarms. Manufacturers are working on smart TPMS sensors to improve the user experience, improve tire care habits, and enable proactive tire pressure control.
Automotive Tire Pressure Monitoring System (TPMS) Market - Drivers
Increased Integration Of Automotive Safety Systems
- The growing integration of vehicle safety systems is a primary driving force behind the introduction of car tire pressure monitoring systems (TPMS). With driver and passenger safety being a top issue, manufacturers are putting advanced safety measures into their cars to lessen the dangers connected with tire accidents. A TPMS is critical to this integration because it continually monitors tire pressures and alerts drivers when they deviate from approved levels. By guaranteeing optimal tire performance, TPMS helps enhance vehicle control, fuel efficiency, and accident risk, all of which are aims of vehicle safety system integration. For example, Continental AG, a prominent automotive technology business, provides a broad range of security solutions, including TPMS technology. The TPMS system continually monitors tire pressure and temperature, delivering real-time information to the driver. This connection with other safety systems enhances features like stability control, anti-lock brake systems, and advanced driver assistance systems, allowing for a more comprehensive approach to vehicle safety. Continental displays industry understanding of the critical role TPMS plays in enhancing overall vehicle safety by incorporating it into its safety solutions.
Enhanced Fuel Efficiency
- TPMS closely monitors tire pressure and contributes to increased fuel efficiency by ensuring that tires are properly inflated. Low tire pressure increases rolling resistance and requires more energy to propel the vehicle, resulting in increased fuel consumption. PMS alerts the driver to low tire pressure and enables for timely changes to maintain optimal tire pressure, hence lowering fuel usage and CO2 emissions. Furthermore, TPMS helps to improve overall fuel efficiency and environmental sustainability in the vehicle sector by encouraging safer driving and reducing tire accidents. For example, Ford, a firm in automotive technology and vehicle production, is at the forefront of incorporating TPMS technology into their vehicles to increase fuel economy. Proper tire inflation may significantly improve your gas mileage. Ford has installed an innovative TPMS system inside the car, which continually monitors tire pressure and alerts the driver in real time if it falls below prescribed levels. Ford's TPMS encourages drivers to keep their tire pressures at ideal levels in order to increase fuel economy, decrease emissions, and promote environmentally friendly driving practices throughout their fleet.
Automotive Tire Pressure Monitoring System (TPMS) Market – Restraints
Vehicle Tracking Using TPMS Signal
- The Tire Pressure Monitoring System (TPMS) continually monitors each tire's real-time pressure, assuring vehicle safety and performance. These systems generally include a tire-mounted sensor that detects tire pressure and delivers a signal to a receiving device positioned on the vehicle. The receiver evaluates the sensor data and flashes the low tire pressure warning light to alert the driver. However, there is growing worry in the automobile industry that TPMS signals may be sensitive to remote eavesdropping. Each TPMS sensor generates a distinct signal that may be detected using a directional antenna. This implies that unauthorized individuals with the necessary equipment and knowledge can intercept these signals, jeopardizing the vehicle's privacy and security.
- There are general concerns regarding TPMS signal interception, however signal range constraints, the type of the data being communicated, encryption and authentication systems, and continuous attempts to better automotive cybersecurity all contribute to these issues. Cancels out To overcome these issues, the automotive industry may continue to reap the safety and performance benefits of TPMS technology while protecting vehicle owners' privacy and security.
Lack Of Standardization And Compatibility Between Vehicle Models And Regions
- The lack of a unified TPMS standard makes it difficult for manufacturers to build and apply a consistent system across their varied cars. TPMS legislation and standards may vary by location and country, resulting in differing specifications and technology. This lack of uniformity raises the difficulty and cost of developing and manufacturing his TPMS systems to meet various regional requirements. Furthermore, compatibility concerns develop when a consumer replaces or upgrades his TPMS system. Because of the absence of global standards, it might be difficult to obtain TPMS components and sensors that are fully compatible with a certain vehicle model. This might cause compatibility concerns and necessitate more effort and money to verify your TPMS system working fine.
- As standardization efforts progress, producers and users should expect increased uniformity among TPMS systems, streamlined production processes, lower costs, and a better overall user experience. By aligning rules and adopting common standards, the industry may address compatibility issues while also promoting a more accessible and consistent vehicle TPMS market.
Automotive Tire Pressure Monitoring System (TPMS) Market – Opportunity
Global Emerging Markets
- Significant market potential for the TPMS business exist in emerging regions across the world. These markets, with rising vehicle production and customer demand for sophisticated safety features, provide ideal circumstances for the introduction and growth of TPMS technology. India is an example of a promising rising market. India's enormous population and expanding middle class have resulted in a considerable growth in automobile sales in recent years. According to the Society of Indian Automobile Manufacturers (SIAM), India's passenger car sales would increase by 27% in 2023 as a chip shortage eases and demand for sport utility vehicles (SUVs) rises, statistics from the automotive trade organization SIAM revealed on Thursday.
- The Indian government is also aggressively supporting road safety efforts, such as making safety features mandatory in automobiles. TPMS systems provide a vital safety solution by providing real-time tire pressure monitoring, which improves vehicle safety and reduces the chance of accidents caused by under-inflation. As a result, TPMS manufacturers have an increased potential to join the Indian market and gain market share.
Increasing Adoption of Electric Vehicles
- As the global automotive industry shifts to electric mobility, demand for TPMS systems in electric cars is likely to skyrocket. TPMS is critical in guaranteeing optimal tire performance and efficiency, which is especially vital for electric cars that run on battery power. As EVs become more popular and demand sophisticated safety features, TPMS systems play an important role in monitoring tire pressure to assure EV safety and road performance. For example, Tesla, a prominent electric car manufacturer, has already included TPMS as a standard feature in his EV models, giving drivers with real-time tire pressure data to ensure maximum safety and economy. This trend is projected to continue as more manufacturers include EVs in their product lineups, providing a promising market opportunity for TPMS manufacturers.
Impact of COVID-19
The COVID-19 pandemic has had a substantial influence on the worldwide automobile tire pressure monitoring system industry, resulting in supply chain disruptions, manufacturing shutdowns, and reduced consumer demand. This has delayed global car production and sales, impacting the TPMS industry, as TPMS systems are often installed on new vehicles during manufacture. The epidemic has impacted worldwide supply chains, resulting in delays and shortages of TPMS components and sensors, hurting the production and installation of TPMS systems in automobiles.
Automotive Tire Pressure Monitoring System Market Key Players
- Delphi Automotive
- DENSO Corporation
- Continental AG
- ZF TRW
- Valor TPMS
- Pacific Industrial
- Schrader Electronics
- Hella KGaA Hueck & Co.
- Valeo
- ALLIGATOR Ventilfabrik GmbH
- Advantage PressurePro Enterprises Inc.
- Alps Electric Co. Ltd
- Sensata Technologies
- Huf Electronics
- Aptiv PLC
- Bartec USA LLC
- Doran Manufacturing LLC
- Dunlop Tech GmbH
- Garmin Ltd.,
- Infineon Technologies AG
- Knorr-Bremse AG
- Nira Dynamics
- NXP Semiconductors
- Pacific Industrial Co. Ltd.
- Sensata Technologies Inc.
- ZF Friedrichshafen AG
- Firestones
- Michelin
- Bridgestone
- Goodyear
Asia-Pacific Region Anticipated to Grow at Significant Level
The Asia Pacific automotive tire pressure monitoring system (TPMS) market is projected to experience substantial growth and is anticipated to hold a significant share of the global automotive TPMS market in the forecast period.
China and India are poised to lead the region in trade. Factors such as the rising market penetration of premium vehicles and heightened emphasis on vehicle safety, driven by safety regulations implemented by governments and organizations, are driving the demand for tire monitoring systems and other Advanced Driver Assistance Systems (ADAS). Safety systems like tire pressure monitoring, prevalent in large and mid-size vehicles in developed Asian economies such as Japan, South Korea, and Singapore, are advanced and comparable to those in Europe and North America.
The surge in sales of high-end and mid-range vehicles in the Asia-Pacific region serves as the primary growth catalyst for TPMS. Numerous manufacturers are ramping up passenger vehicle sales and introducing new products.
For Instance,
- In August 2022, SAIC Roewe launched the medium electric MPV iMAX8 EV, available in five models priced between 259,800 yuan and 359,800 yuanafter subsidies. The vehicle features a tire pressure monitoring system among other features.
- Similarly, in May 2022, the Geely Binrui COOL sedan coupe was introduced in China, priced at USD 14,000, positioning it as a contender in the mid-size segment. The vehicle includes safety features, tire pressure monitoring, and level 2 ADAS functionalities.
Major regional automotive OEMs such as Hyundai and Nissan are aiming to bolster their revenues through the development and integration of advanced automotive security systems. While the regional market for tire inspection is currently relatively limited, it is expected to experience significant growth over the next five years.
Surge in Demand for Fuel-efficient, Lightweight and Compact Vehicles
The increase in vehicle emissions and industrialization contributes to global warming by 1-2 degrees Celsius every year. This is due to the emission of greenhouse gases such as CO2 and methane. As a result, automakers in emerging countries are focused on producing fuel-efficient, lightweight, and small automobiles. Due to energy shortages and worries about climate change, governments are enforcing rigorous fuel economy rules. Customers are increasingly choosing fuel-efficient autos. Vehicles equipped with tire pressure monitoring technology had an average tire inflation pressure 3% higher than those without TPMS, resulting in a 0.3% reduction in fuel consumption. Applying this on all passenger cars in the EU may decrease CO2 emissions by roughly 14.5 million tons per year.
High Demand for Direct Tire Pressure Monitoring System
The direct tire pressure monitoring system category is predicted to dominate the market between 2023 and 2032, accounting for 76% of the market share in 2023. TPMS monitors tire pressure in real time and alerts drivers when it deviates from the acceptable ranges. This improves vehicle safety by lowering the chance of tire blowouts, accidents, and loss of control. Regulations in the United States, Europe, South Korea, and China require the installation of TPMS for safety and environmental reasons, increasing demand for direct TPMS systems.
Conventional Tire Pressure Monitoring System Gaining Traction
The conventional tire pressure monitoring system (TPMS) technology category is estimated to lead the tire pressure monitoring system market in 2022, accounting for 76.0%. Because of its low cost, it is available in a broader range of vehicle types and pricing ranges, making it appealing to budget-conscious customers and fleet operators. Conventional TPMS may also be applied to current cars, increasing safety without requiring large changes or expenditures in clever TPMS technology.
Automotive Tire Pressure Monitoring System Market Recent Development
- In February 2023, Continental introduced its latest TPMS technology, SmartPressure Pro, tailored for both passenger vehicles and commercial fleets. This advanced system combines real-time tire pressure and temperature monitoring with machine learning algorithms to predict tire wear and potential issues, helping drivers and fleet managers optimize vehicle performance and safety.
- In March 2023 saw the launch of Firestone's FleetGuard‚ TPMS solution, designed specifically for commercial trucking fleets. Building on Firestone's legacy of reliability, FleetGuard‚ offers comprehensive tire monitoring capabilities, including real-time pressure and temperature readings, as well as predictive maintenance insights to minimize downtime and improve operational efficiency.
- Building upon its previous SafeTire technology, Michelin introduced SafeTire Pro in June 2023. This next-generation TPMS solution incorporates advanced sensor technology and cloud-based analytics to provide drivers with enhanced tire health monitoring and predictive maintenance alerts, contributing to safer and more efficient driving experiences.
- Bridgestone unveiled TPMS Pro in August 2023, expanding upon its TPMS Plus offering. TPMS Pro integrates advanced sensor technology with artificial intelligence capabilities to deliver real-time tire performance insights and personalized maintenance recommendations, catering to the evolving needs of both consumer and commercial vehicle owners.
- In October 2023, Goodyear introduced IntelliGrip Pro, the next iteration of its smart tire monitoring platform. IntelliGrip Pro enhances fleet management capabilities by providing actionable insights into tire health, fuel efficiency, and performance optimization through advanced analytics and remote monitoring features.
Automotive Tire Pressure Monitoring System Market Segmentation
By Product Type
- Direct TPMS
- Indirect TPMS
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Buses and Coaches
- Off-road Vehicles
- Agriculture Tractors & Equipment
- Construction & Mining Equipment
- Industrial Vehicles (Forklifts, AGVs, etc.)
By Distribution Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket Retailers
- Online Retailers
- Automotive Parts Stores
- Independent Repair Shops
By Technology
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Propulsion Type
- ICE Vehicles
- Diesel
- Petrol
- CNG and LPG
- Electric Vehicle
- Battery Vehicles
- Plug-in Vehicles
- Hybrid Vehicles
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- France
- United Kindgom
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East and Africa
- UAE
- Kingdom of Saudi Arabia
- Nigeria
- Egypt
- Morocco
- South Africa
- Rest of Middle East and Africa
