Automotive Tire Pressure Monitoring System Market Size, Share & Industry Analysis, By Type (Direct TPMS, Indirect TPMS), By Sales Channel Type (OEM, Aftermarket), By Vehicle Type (Passenger Vehicle, Commercial Vehicle) And Regional Forecast, 2024-2032

The main purpose of an automotive tire pressure monitoring system or (TPMS) in a vehicle is to warn or indicate to the driver that at least one or more tires are considerably under pressure, which can further create unsafe driving conditions. The TPMS low tire pressure indicator is a yellow coloured symbol that lights on the dashboard panel in the shape of a  cross tire section (that is similar to a horseshoe) with an exclamation point.

An indirect TPMS generally depends on wheel speed sensors that are used by the anti-lock brake system uses. These sensors record the rate of revolution made by each of the wheels and they are further used by onboard computer systems to compare with each other. Based on the recorded rate of revolution of each wheel, the computer then interprets the relative size of the tires on the vehicle. If the wheel starts spinning faster than estimated, the system concludes that the tire is underinflated and alerts the driver accordingly.

Some of the major factors such as the increase in preference of consumers towards automotive and advanced driver assistance systems and increase in sales of luxury vehicles with automotive TPMS features for their safety are further propelling the growth of the automotive TPMS market.

Also, with rapid growth in the number of accidents and fatalities caused due to tire pressure inflation has prompted governmental authorities in several countries to mandate the usage of automotive TPMS in automobiles, this is one of the major factors driving the growth of the market. The sensors used in automotive TPMS are comparatively costly, this is one of the major factors hindering the growth of the market.

Key Market Driver -

the increased safety on road provided by automotive TPMS and improved driving experience are some of the major factors driving the growth of the market.

Key Market Restraint -

the high cost of sensors used in the automotive TPMS is one of the major factors hampering the growth of the market.

Market Segmentation:

The automotive Tire pressure measurement system market is segmented by type, by sales channel type, by vehicle type and by geography. By type, the market is further sub-segmented into direct TPMS and indirect TPMS. Direct TPMS is projected to account for the largest market share in the global TPMS market during the forecast period increasing at a steady CAGR. Direct TPMS have sensors in each wheel, they provide more accurate and instant warnings as compared to indirect TPMS which is one of the major factors responsible for the growth of the market. Based on sales channel type, the market is segmented into OEM and aftermarket. The OEM segment is expected to dominate the global TPMS market during the forecast period.

On the basis of vehicle type, the market is sub-segmented into passenger vehicles and commercial vehicles. Among these, the passenger car sub-segment is projected to dominate the market and it is expected to account for the largest market share during the forecast period. Due to the increase in demand for passenger vehicles in the automotive market and safety features offered by TPMS at a reasonable price, the market is expected to grow rapidly in the near future.

Key Players:

Major players operating in the global automotive Tire pressure measurement system market include Continental AG, Denso Corporation, Sensata Technologies, Inc., ZF Friedchschafen AG, NXP Semiconductors, Pacific Industrial, WABCO, ATEQ, DUNLOP Tech GmbH, NIRA Dynamics AB, Bartec USA LLC among others.

Key Insights

• New Advancements in automotive Tire pressure monitoring system market


• Number of Products, Key Countries, 2020


• New Product Launches, Key Players

Regional Analysis:

Geographically, the automotive Tire pressure monitoring system market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia-Pacific automotive TPMS market is anticipated to experience a high CAGR during the forecast period. Countries from the Asia-Pacific region such as China, India, Japan, and Australia are expected to hold a considerable share in the global automotive TPMS market. The market is majorly driven by China and India, the factors such as the increase in production of premium cars and a rise in safety installation per vehicle are expected to boost the growth of the market in the region.

Further, Europe is expected to be the second-largest region in the global automotive TPMS market and it is anticipated to grow rapidly over the forecast period. The presence of major companies such as Continental AG and Valeo aims to increase their revenue by manufacturing and implementing advanced automotive TPMS technology with safety systems in the region.

North America is considered to be a steadily growing region for the market during the forecast period. Factors such as an increase In demand for luxury vehicles, and different initiatives taken by the USA government such as the development of a federal motor vehicle safety standard that requires the installation of TPMS are expected to drive the growth of the market.

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Segmentation