Tire Pressure Monitoring System Market Growth, Trends, Size, Revenue, Scope and Future Outlook
Tire Pressure Monitoring System Market Size- By Type, By Sales Channel, By Vehicle Type, By Propulsion- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: AMIN23173 | Pages: 1 - 222 | Formats*: |
| Category : Automotive & Transportation | |||
Tire Pressure Monitoring System (TPMS) Market Introduction and Overview
According to SPER Market Research, the Global Tire Pressure Monitoring System Market is estimated to reach USD 9.40 billion by 2033 with a CAGR of 10.51%.
The report includes an in-depth analysis of the Global Tire Pressure Monitoring System market, including market size and trends, product mix, distribution channels, and supplier analysis. An electronic device called a tire pressure monitoring system (TPMS) is used to track tire air pressure. The TPMS's light-illuminating function alerts the driver of high or low tire pressure. In recent years, there has been a rise in demand for tires that maximize fuel efficiency. Tire makers have therefore concentrated on enhancing the current technology in order to increase mileage, safety, and traction. For safe driving, maximum tire life, and optimal fuel efficiency, tire pressure must be maintained. TPMS contributes to improved fuel efficiency, improved vehicle safety, and a general decrease in CO2 emissions. Additionally, it lessens the tire's total weight and rolling resistance.
- Hendrickson USA, LLC created its existing tire pressure system with TIREMAAX PRO-LB, which eliminates the guesswork of tire pressure management by monitoring the pressure in the air springs and automatically responding to changing loads.
- Bridgestone Corporation introduced smart strain sensor technology, which is capable of estimates a wheel axle load and tire wear condition by tracking tire inflation pressure and temperature and measuring the dynamic shift in strain experienced by a tire as it is being used.
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Market Opportunities and Challenges
Opportunities: The market for tire pressure monitoring systems will develop significantly as a result of road and highway rules, as well as increased government spending in active safety systems and vehicle automation. The increasing use of sensor technology in automobiles, as well as the rapid development of integrated sensor systems, are expected to increase automotive tire pressure monitoring system sales. Furthermore, the increasing use of sensor technology in automobiles, as well as the rapid development of integrated sensor systems, are expected to increase automotive tire pressure monitoring system sales.
Technological advances and rising sales of premium vehicles with new and improved safety features are propelling the tire pressure monitoring system market. The shift in customer attitude toward safety systems in passenger and light commercial vehicles presents an opportunity to deploy innovative automotive technologies.
Challenges: The sensors in TPMS are expensive, and their replacement costs are considerable, which may limit market expansion. When the sensor's battery dies on one tire, the three sensors on the other tires are likely to die as well; consequently, buyers would need to replace all four sensors, which could be a hurdle and hamper market expansion. Additional charges such as installation costs and chores such as tire balance add additional costs and functions for the consumer, leading to either delay of the installation or avoiding re-installation of sensors, which could become a safety issue and also constrain the industry.
The sensors in TPMS are expensive, and their replacement costs are considerable, which may limit market expansion.
Market Competitive Landscape
The need for excellent accuracy and durability is one of the key reasons why automakers favor goods from large producers. In addition, these companies have augmented their R&D expenditures considerably with the aim of incorporating car TPMS with further safety-related technologies. Some are the market key players are Huf Hülsbeck & Fürst GmbH & Co. KG, Pacific Industrial Co. Ltd., ROBERT BOSCH GMBH, Hitachi Automotive Ltd, Renesas Electronics Corporation, HAMATON, Delphi Automotive LLP, Hampton Automotive Technology Co. Ltd, CONTINENTAL AG, ZF Friedrichshafen AG, InnoTechRV, The Goodyear Tire & Rubber Company, Orange Electronic Co., Ltd., Sensata Technologies Inc., DENSO CORPORATION, VALEO, NIRA Dynamics AB
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Sales Channel, By Vehicle Type, By Propulsion |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Huf Hülsbeck & Fürst GmbH & Co. KG, Pacific Industrial Co. Ltd., ROBERT BOSCH GMBH, Hitachi Automotive Ltd, Renesas Electronics Corporation, HAMATON, Delphi Automotive LLP, Hampton Automotive Technology Co. Ltd, CONTINENTAL AG, ZF Friedrichshafen AG, InnoTechRV, The Goodyear Tire & Rubber Company, Orange Electronic Co., Ltd., Sensata Technologies Inc., DENSO CORPORATION, VALEO, NIRA Dynamics AB |
COVID-19 Impact on Global Tire Pressure Monitoring System (TPMS) Market
Governments everywhere were compelled by the COVID-19 pandemic to impose strict lockdowns and prohibit the import or export of goods that are necessary for raw materials for the majority of 2020 and a few months of 2021. This caused a sharp drop in the supply of crucial raw materials for car parts. The COVID-19 pandemic drastically disrupted supply chains and manufacturing schedules, which had a detrimental influence on car production and sales. Consequently, the market for tire pressure monitoring systems in 2020 was negatively impacted.
Key Target Audience
- Automotive Manufacturers
- Automotive Suppliers
- Automotive Aftermarket
- Fleet Management Companies
- Government and Regulatory Authorities
- Insurance Companies
- Automotive Enthusiasts and Consumers
- Research and Development Organizations
- Investors and Financial Institutions
Our in-depth analysis of the Tire Pressure Monitoring System Market includes the following segments:
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Key Topics Covered in the Report
- Global Tire Pressure Monitoring System Market Size (FY’2023-FY’2033)
- Overview of Global Tire Pressure Monitoring System Market
- Segmentation of Global Tire Pressure Monitoring System Market By Type (Direct Tire Pressure Monitoring System, Indirect Tire Pressure Monitoring System)
- Segmentation of Global Tire Pressure Monitoring System Market By Sales Channel (Aftermarket, OEM)
- Segmentation of Global Tire Pressure Monitoring System Market By Vehicle Type (Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles)
- Segmentation of Global Tire Pressure Monitoring System Market By Propulsion (Alternate fuel Vehicle, Electric and Hybrid, ICE)
- Statistical Snap of Global Tire Pressure Monitoring System Market
- Expansion Analysis of Global Tire Pressure Monitoring System Market
- Problems and Obstacles in Global Tire Pressure Monitoring System Market
- Competitive Landscape in the Global Tire Pressure Monitoring System Market
- Impact of COVID-19 and Demonetization on Global Tire Pressure Monitoring System Market
- Details on Current Investment in Global Tire Pressure Monitoring System Market
- Competitive Analysis of Global Tire Pressure Monitoring System Market
- Prominent Players in the Global Tire Pressure Monitoring System Market
- SWOT Analysis of Global Tire Pressure Monitoring System Market
- Global Tire Pressure Monitoring System Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Tire Pressure Monitoring System Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Tire Pressure Monitoring System Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Tire Pressure Monitoring System Market
7. Global Tire Pressure Monitoring System Market, By Type (USD Million)
7.1. Global Tire Pressure Monitoring System Market Value Share and Forecast, By Type, 2023-20337.2. Direct Tire Pressure Monitoring System7.3. Indirect Tire Pressure Monitoring System
8. Global Tire Pressure Monitoring System Market, By Sales Channel (USD Million)
8.1. Global Tire Pressure Monitoring System Market Value Share and Forecast, By Sales Channel, 2023-20338.2. Aftermarket8.3. OEM
9. Global Tire Pressure Monitoring System Market, By Vehicle Type (USD Million)
9.1. Global Tire Pressure Monitoring System Market Value Share and Forecast, By Vehicle Type, 2023-20339.2. Heavy Commercial Vehicles9.3. Light Commercial Vehicles9.4. Passenger Vehicles
10. Global Tire Pressure Monitoring System Market, By Propulsion (USD Million)
10.1. Global Tire Pressure Monitoring System Market Value Share and Forecast, By Propulsion, 2023-203310.2. Alternate fuel Vehicle10.3. Electric and Hybrid10.4. ICE
11. Global Tire Pressure Monitoring System Market Forecast, 2019-2033 (USD Million)
11.1. Global Tire Pressure Monitoring System Market Size and Market Share
12. Global Tire Pressure Monitoring System Market, By Type, 2019-2033 (USD Million)
12.1. Global Tire Pressure Monitoring System Market Size and Market Share By Type (2019-2026)12.2. Global Tire Pressure Monitoring System Market Size and Market Share By Type (2027-2033)
13. Global Tire Pressure Monitoring System Market, By Sales Channel, 2019-2033 (USD Million)
13.1. Global Tire Pressure Monitoring System Market Size and Market Share By Sales Channel (2019-2026)13.2. Global Tire Pressure Monitoring System Market Size and Market Share By Sales Channel (2027-2033)
14. Global Tire Pressure Monitoring System Market, By Vehicle Type, 2019-2033 (USD Million)
14.1. Global Tire Pressure Monitoring System Market Size and Market Share By Vehicle Type (2019-2026)14.2. Global Tire Pressure Monitoring System Market Size and Market Share By Vehicle Type (2027-2033)
15. Global Tire Pressure Monitoring System Market, By Propulsion, 2019-2033 (USD Million)
15.1. Global Tire Pressure Monitoring System Market Size and Market Share By Propulsion (2019-2026)15.2. Global Tire Pressure Monitoring System Market Size and Market Share By Propulsion (2027-2033)
16. Global Tire Pressure Monitoring System Market, By Region, 2019-2033 (USD Million)
16.1. Global Tire Pressure Monitoring System Market Size and Market Share By Region (2019-2026)16.2. Global Tire Pressure Monitoring System Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific
16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada16.6.2. Mexico16.6.3. United States
16.7. Latin America
16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17.1. CONTINENTAL AG
17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments
17.2. Delphi Automotive LLP
17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments
17.3. DENSO CORPORATION
17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments
17.4. HAMATON
17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments
17.5. Hitachi Automotive Ltd
17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments
17.6. Huf Hülsbeck & Fürst GmbH & Co. KG
17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments
17.7. InnoTechRV
17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments
17.8. NIRA Dynamics AB
17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments
17.9. Orange Electronic Co., Ltd.
17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments
17.10. Pacific Industrial Co. Ltd.
17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments
17.11. Renesas Electronics Corporation
17.11.1. Company details17.11.2. Financial outlook17.11.3. Product summary17.11.4. Recent developments
17.12. ROBERT BOSCH GMBH
17.12.1. Company details17.12.2. Financial outlook17.12.3. Product summary17.12.4. Recent developments
17.13. Sensata Technologies Inc.
17.13.1. Company details17.13.2. Financial outlook17.13.3. Product summary17.13.4. Recent developments
17.14. The Goodyear Tire & Rubber Company
17.14.1. Company details17.14.2. Financial outlook17.14.3. Product summary17.14.4. Recent developments
17.15. VALEO
17.15.1. Company details17.15.2. Financial outlook17.15.3. Product summary17.15.4. Recent developments
17.16. ZF Friedrichshafen AG
17.16.1. Company details17.16.2. Financial outlook17.16.3. Product summary17.16.4. Recent developments
17.17. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Tire Pressure Monitoring System Market is projected to reach USD 9.40 billion by 2033, growing at a CAGR of 10.51% during the forecast period.
Tire Pressure Monitoring System Market grew in market size from 2022. The Market is expected to reach USD 9.40 billion by 2033, at a CAGR of 10.51% during the forecast period.
Tire Pressure Monitoring System Market CAGR of 10.51% during the forecast period.
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Tire Pressure Monitoring System Market size is USD 9.40 billion from 2023 to 2033.
Tire Pressure Monitoring System Market Segment is covered By Type, By Sales Channel, By Vehicle Type, By Propulsion.
The North America is anticipated to have the highest market share in the Tire Pressure Monitoring System Market.
The key players in the market include Companies Covered Huf Hülsbeck & Fürst GmbH & Co. KG, Pacific Industrial Co. Ltd., ROBERT BOSCH GMBH, Hitachi Automotive Ltd, Renesas Electronics Corporation, HAMATON, Delphi Automotive LLP.
The TPMS's light-illuminating function alerts the driver of high or low tire pressure. In recent years, there has been a rise in demand for tires that maximize fuel efficiency. Tire makers have therefore concentrated on enhancing the current technology in order to increase mileage, safety, and traction.
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