Global Tire Pressure Monitoring System Market

Tire Pressure Monitoring System Market Size, Share, Growth Analysis, By Type(Direct TPMS, and Indirect TPMS), By Technology (Wheel-Based TPMS, Valve-Based TPMS, and Band-Based TPMS), By Vehicle Type(Passenger Vehicles, and Commercial Vehicles), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Tire Pressure Monitoring System Market?

Global Tire Pressure Monitoring System Market size was valued at USD 6.2 billion in 2022 and is poised to grow from USD 6.83 billion in 2023 to USD 14.86 billion by 2031, growing at a CAGR of 5.52% in the forecast period (2024-2031).

Report ID: SQMIG25B2024 | Region: Global | Published Date: April, 2024
Pages: 218 | Tables: 88 | Figures: 76

Tire Pressure Monitoring System Market Regional Insights

North America is possibly to dominate the TPMS marketplace. The place has stringent rules mandating the installation of TPMS in automobiles, driving the marketplace call for. Additionally, the presence of a well-installed automotive industry, high customer cognizance concerning vehicle safety, and the adoption of superior automotive technologies make contributions to the dominance of North America inside the TPMS marketplace.

Asia-Pacific is expected to be the fastest-developing location. The vicinity's rapid financial boom, increasing automobile manufacturing, and growing attention of street protection are full-size factors contributing to the growing demand for TPMS. Moreover, regulatory traits in countries like China and India mandating TPMS installation further fuel the market's enlargement inside the Asia-Pacific region.

Tire Pressure Monitoring System Market Report Snapshots

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Tire Pressure Monitoring System Market size was valued at USD 6.2 billion in 2022 and is poised to grow from USD 6.83 billion in 2023 to USD 14.86 billion by 2031, growing at a CAGR of 5.52% in the forecast period (2024-2031).

The competitive surroundings of the Tire Pressure Monitoring System marketplace is dynamic and is characterised by a mix of established players and emerging entrants, contributing to a dynamic and competitive surroundings. Key players which include Continental AG, Delphi Automotive, and Sensata Technologies dominate the market with their big product portfolios and giant enterprise presence. These corporations attention on research and development to introduce modern TPMS solutions, emphasizing accuracy, reliability, and integration skills. Regional players additionally play a great role, catering to particular market desires. 'Continental AG', 'Delphi Automotive', 'Sensata Technologies', 'Huf Hülsbeck & Fürst GmbH & Co. KG', 'Schrader International', 'ZF Friedrichshafen AG', 'Pacific Industrial Co., Ltd.', 'Bartec Auto ID', 'ATEQ Corporation', 'NIRA Dynamics AB', 'NXP Semiconductors', 'Alligator Ventilfabrik GmbH', 'Transense Technologies plc', 'Omron Corporation', 'DUNLOP TECH GmbH', 'TPI - Troy Precision Instruments', 'Sate Auto Electronic Co., Ltd.', 'Bendix Commercial Vehicle Systems LLC', 'Orange Electronic Co., Ltd.', 'CUB Elecparts Inc.'

The increasing emphasis on vehicle safety and the need to mitigate the risks associated with underinflated tires propel the adoption of TPMS. Stringent regulatory mandates in various regions mandating the installation of TPMS in vehicles similarly drive marketplace demand.

Rising Integration Of Advanced Sensor Technologies: The growing integration of advanced sensor technology, allowing greater accurate and real-time tracking of tire stress. The marketplace is witnessing an multiplied attention on wi-fi TPMS solutions, providing more desirable connectivity and simplicity of integration with different car structures. Additionally, the emergence of smart and connected motors has propelled the adoption of TPMS as a essential element in advanced motive force-help systems. Another enormous fashion is the development of TPMS for electric motors (EVs), addressing the particular requirements of EV structures.

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Tire Pressure Monitoring System Market Size, Share, Growth Analysis, By Type(Direct TPMS, and Indirect TPMS), By Technology (Wheel-Based TPMS, Valve-Based TPMS, and Band-Based TPMS), By Vehicle Type(Passenger Vehicles, and Commercial Vehicles), By Region - Industry Forecast 2024-2031

Tire Pressure Monitoring System Market Regional Insights

Tire Pressure Monitoring System Market Report Snapshots

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