Tire Pressure Monitoring System Market Growth, Size, Trends, 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

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.
Tire Pressure Monitoring System Market
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.

Tire Pressure Monitoring System Market


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 coveredBy Type, By Sales Channel, By Vehicle Type, By Propulsion
 Regions coveredNorth America, Asia-Pacific, Latin America, Middle East & Africa and Europe
 Companies CoveredHuf 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:
By Type:
  • Direct Tire Pressure Monitoring System
  • Indirect Tire Pressure Monitoring System
  • By Sales Channel:
  • Aftermarket
  • OEM
  • By Vehicle Type:
  • Heavy Commercial Vehicles
  • Light Commercial Vehicles
  • Passenger Vehicles
  • By Propulsion:
  • Alternate fuel Vehicle
  • Electric and Hybrid
  • ICE
  • By Region:
  • Asia-Pacific
  • Europe
  • Middle East & Africa
  • North America
  • Latin America
  • 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 report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. 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. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. 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. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. Global Tire Pressure Monitoring System  Market Manufacturing Base Distribution, Sales Area, Product Type 
    6.2. 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, 2023-2033
    7.2. Direct Tire Pressure Monitoring System
    7.3. 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, 2023-2033
    8.2. Aftermarket
    8.3. 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, 2023-2033
    9.2. Heavy Commercial Vehicles
    9.3. Light Commercial Vehicles
    9.4. 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, 2023-2033
    10.2. Alternate fuel Vehicle
    10.3. Electric and Hybrid
    10.4. 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. Australia
    16.3.2. China
    16.3.3. India
    16.3.4. Japan
    16.3.5. South Korea
    16.3.6. Rest of Asia-Pacific
    16.4. Europe
    16.4.1. France
    16.4.2. Germany
    16.4.3. Italy
    16.4.4. Spain
    16.4.5. United Kingdom
    16.4.6. Rest of Europe
    16.5. Middle East and Africa
    16.5.1. Kingdom of Saudi Arabia 
    16.5.2. United Arab Emirates
    16.5.3. Rest of Middle East & Africa
    16.6. North America
    16.6.1. Canada
    16.6.2. Mexico
    16.6.3. United States
    16.7. Latin America
    16.7.1. Argentina
    16.7.2. Brazil
    16.7.3. Rest of Latin America

    17. Company Profile
    17.1. CONTINENTAL AG
    17.1.1. Company details
    17.1.2. Financial outlook
    17.1.3. Product summary 
    17.1.4. Recent developments
    17.2. Delphi Automotive LLP
    17.2.1. Company details
    17.2.2. Financial outlook
    17.2.3. Product summary 
    17.2.4. Recent developments
    17.3. DENSO CORPORATION
    17.3.1. Company details
    17.3.2. Financial outlook
    17.3.3. Product summary 
    17.3.4. Recent developments
    17.4. HAMATON
    17.4.1. Company details
    17.4.2. Financial outlook
    17.4.3. Product summary 
    17.4.4. Recent developments
    17.5. Hitachi Automotive Ltd
    17.5.1. Company details
    17.5.2. Financial outlook
    17.5.3. Product summary 
    17.5.4. Recent developments
    17.6. Huf Hülsbeck & Fürst GmbH & Co. KG
    17.6.1. Company details
    17.6.2. Financial outlook
    17.6.3. Product summary 
    17.6.4. Recent developments
    17.7. InnoTechRV
    17.7.1. Company details
    17.7.2. Financial outlook
    17.7.3. Product summary 
    17.7.4. Recent developments
    17.8. NIRA Dynamics AB
    17.8.1. Company details
    17.8.2. Financial outlook
    17.8.3. Product summary 
    17.8.4. Recent developments
    17.9. Orange Electronic Co., Ltd.
    17.9.1. Company details
    17.9.2. Financial outlook
    17.9.3. Product summary 
    17.9.4. Recent developments
    17.10. Pacific Industrial Co. Ltd.
    17.10.1. Company details
    17.10.2. Financial outlook
    17.10.3. Product summary 
    17.10.4. Recent developments
    17.11. Renesas Electronics Corporation
    17.11.1. Company details
    17.11.2. Financial outlook
    17.11.3. Product summary 
    17.11.4. Recent developments
    17.12. ROBERT BOSCH GMBH
    17.12.1. Company details
    17.12.2. Financial outlook
    17.12.3. Product summary 
    17.12.4. Recent developments
    17.13. Sensata Technologies Inc.
    17.13.1. Company details
    17.13.2. Financial outlook
    17.13.3. Product summary 
    17.13.4. Recent developments
    17.14. The Goodyear Tire & Rubber Company
    17.14.1. Company details
    17.14.2. Financial outlook
    17.14.3. Product summary 
    17.14.4. Recent developments
    17.15. VALEO
    17.15.1. Company details
    17.15.2. Financial outlook
    17.15.3. Product summary 
    17.15.4. Recent developments
    17.16. ZF Friedrichshafen AG
    17.16.1. Company details
    17.16.2. Financial outlook
    17.16.3. Product summary 
    17.16.4. 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.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    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.
    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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