Global Tire Pressure Monitoring System Market

Tire Pressure Monitoring System Market Size, Share, Growth Analysis, By Type (Direct, Indirect), By Technology (Wheel-Based, Valve-Based), By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Sales Channel (OEM, Aftermarket) By Region - Industry Forecast 2025-2032

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

Tire Pressure Monitoring System Market Dynamics

Tire Pressure Monitoring System Market Drivers

Increasing Emphasis On Vehicle Safety And The Need To Mitigate The Risks

  • 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.

Increasing Attention Amongst Clients

  • The growing attention amongst clients regarding the importance of maintaining finest tire strain for gasoline efficiency and prolonged tire existence boosts the marketplace. 

Tire Pressure Monitoring System Market Restraints

High Cost Associated with Implementing TPMS Technology

  • One of the main marketplace restraints is the value related to enforcing TPMS era in automobiles stays a sizable barrier, specially for customers in emerging markets or the ones driving older cars.

High Complexity of TPMS Systems

  • The complexity of TPMS systems and the need for periodic maintenance ought to pose challenges in terms of o.E.M adoption. Moreover, problems related to sensor accuracy and capability fake alarms may result in driver dissatisfaction, impacting the overall market recognition. 
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FAQs

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). 

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.   'ZF Friedrichshafen AG ', 'Continental AG ', 'Sensata Technologies, Inc. ', 'DENSO Corporation ', 'Delphi Technologies (Phinia Inc.) ', 'NXP Semiconductors ', 'Pacific Industrial Co., Ltd. ', 'Schrader Electronics ', 'Bartec USA LLC ', 'HELLA GmbH & Co. KGaA ', 'Valeo ', 'Huf Hülsbeck & Fürst GmbH & Co. KG ', 'Dunlop Tech GmbH ', 'Magna International ', 'Alligator Valves ', 'NIRA Dynamics AB ', 'Bendix Commercial Vehicle Systems ', 'WABCO ', 'Autel Intelligent Technology ', 'Steelmate Automotive '

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.

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.

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Global Tire Pressure Monitoring System Market

Report ID: SQMIG25B2024

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