Tire Pressure Monitoring Systems Market Forecast 2030 with Charts, Data Visuals & Insights
Global Tire Pressure Monitoring Systems Market Size & Insights
The Global Tire Pressure Monitoring Systems Market size was valued at around USD 6.59 billion in 2024 and is projected to reach USD 11.25 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9.32% during the forecast period, i.e., 2025-30.
The Tire Pressure Monitoring Systems Market is significantly growing due to several growth factors, including the rapidly growing gaming industry, the rising demand for electronic devices, including TVs, smartphones, monitors, wearables, etc., the infrastructural development & expansion of production facilities, and the integration of artificial intelligence in Tire Pressure Monitoring Systems.
What are the Key DROs in the Global Tire Pressure Monitoring Systems Market?
Rising Installation of Accident Preventive Safety Systems – The continuous occurrence of automobile accidents has urged manufacturers, and consumers to adapt and improve the safety features in the vehicle to prevent damage and causality by focusing on the improvement of automotive vehicles with the installation of new safety features. This has resulted in continuous research and development into the issue and coming up with more minor, complementing designs and systems, leading to the higher installation of such sensor systems, thereby driving the industry. As a solution, TMPS provides safety by improving vehicle handling, decreasing tire wear, reducing braking distance, and better fuel economy. In addition, the concerns over the higher number of accidents occurring due to tire failures have accelerated the market growth.
What are the Key Segments in the Tire Pressure Monitoring Systems Market?
The Tire Pressure Monitoring Systems is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
-By Sales Channel
OEMs
Aftermarket
-By Technology
Direct Tire Pressure Monitoring System
Indirect Tire Pressure Monitoring System
Here, Direct Tire Pressure Monitoring System is expected to gain the largest market share during the forecast period, aided by the features such as delivering exact pressure for each tire, no loss of tire pressure information, sensor batteries that last the life of the vehicle mostly and ability to monitor spare tires.
-By Vehicle Type
Passenger Vehicle
Commercial Vehicle
Between the two, Passenger Vehicle dominated the market with the largest market share during the historical period and is anticipated to follow the same trend in the forecast years.
How does geographical analysis highlight in the Saudi Arabia Online Grocery Delivery market?
-By Region
North America
South America
Europe
Middle East and Africa
Asia-Pacific
Globally, Asia-Pacific is expected to address the maximum growth in the market during the forecasting period, attributing to the adherence to strict regulatory rules concerning safety and the use of tire pressure monitoring systems in emerging nations such as China, Japan, and South Korea.
Who are the Key Players in Tire Pressure Monitoring Systems Market?
Continental AG
Denso corporation
Delphi Automotive
Sensata Technologies
Dunlop Tech Gbmh
Wabco
Bendix Commercial Vehicle systems LLC
Schrader Electronics
Pacific Industrial Co., Ltd.
Huf and Hlsbeck & Frst Gmbh & Co.
Tire Pressure Monitoring Systems Market News
2024: Continental AG expanded its Tire Pressure Monitoring System production capacity in India, doubling its capacity at Banglore plant. This expansion includes a second-generation TPMS, which enhances safety and sustainability by transmitting tire pressure, temperature, and motion data. The initiative aligns with Continental's Vision Zero commitment for safer mobility, aiming to improve vehicle safety and efficiency.
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Why This MarkNtel Advisors Research Report:
In-depth Market Analysis: Understand trends and dynamics shaping growth.
Segmented Insights: Target specific segments for focused strategies.
Geographical Performance: Assess market opportunities by geographic area.
Emerging Technologies: Discover advancements like AI integration.
Risk Identification: Pinpoint challenges to inform strategic planning.
Future Forecasts: Prepare for market changes with actionable projections.
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