The Business Research Company’s report on the Automotive Tire Pressure Monitoring System Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the automotive tire pressure monitoring system industry?
The growing number of accidents is expected to propel the growth of the automotive tire pressure monitoring systems market over the coming years. Accidents are unexpected, unwanted, and sudden events that are associated with injury or loss of life. The subsequent road fatalities and accidents prompted the regulatory authorities to mandate the installation and employment of tire pressure monitoring systems in automobiles, thereby promoting the production of automotive tire pressure monitoring systems. For instance, in July 2024, according to the National Safety Council, a US-based, nonprofit public service organization In June 2024, there were an estimated 3,820 motor vehicle deaths, reflecting a slight increase compared to the 3,780 deaths reported in June 2023. Therefore, the growing number of accidents and subsequent road fatalities is driving the growth of the automotive tire pressure monitoring systems market.
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What is the estimated market size of the automotive tire pressure monitoring system sector by 2029, based on current forecasts?
The automotive tire pressure monitoring system market size has grown rapidly in recent years. It will grow from $9.59 billion in 2024 to $11.06 billion in 2025 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to increase in automotive production and sales, expanding automotive aftermarket, enhanced safety and security requirements, globalization and international trade.
The automotive tire pressure monitoring system market size is expected to see rapid growth in the next few years. It will grow to $19.56 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to electrification of vehicles, autonomous vehicle development, stringent government regulations, expansion ofThe connected car ecosystem, rising disposable income. Major trends in the forecast period include advanced sensor technology, connected tpms, predictive maintenance, smartphone integration, data analytics and ai.
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#Who are the top players in the automotive tire pressure monitoring system market?
Major companies operating in the automotive tire pressure monitoring system market include Continental AG, Sensata Technologies Holding plc, Denso Corporation, Pacific Industrial Co. Ltd., NXP Semiconductors N.V., Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, Hamaton Automotive Technology Co. Ltd., ATEQ TPMS, Alligator Ventilfabrik GmbH, ALPS ALPINE CO. LTD, Doran Manufacturing, Bartec USA LLC, Dill Air Controls Products, ZF Friedrichshafen AG, DUNLOP TECH GmbH, Schrader International Inc., WABCO Holdings Inc., ACDelco a General Motors Company, TRW Automotive Inc., Bridgestone Corporation, BorgWarner Inc., HELLA GmbH & Co. KGaA, Lear Corporation, Omron Corporation, Visteon Corporation, Transense Technologies PLC, Xensor Corporation, CUB Elecparts Inc., Sate Auto Electronic Co. Ltd., Shanghai Baolong Automotive Corporation, Paceline Electronics Inc.
#What are the major trends in the automotive tire pressure monitoring system market?
Technological advancements have emerged as the key trend gaining popularity in the automotive tire pressure monitoring systems market. Major companies operating in the automotive TPMS sector are focused on research activities and new product innovations with advanced technologies for market growth. For instance, in June 2022, Sensata Technologies, a US-based company supplying sensing, electrical protection, control, and power management solutions, developed the Intelligent Tire Pressure Monitoring System (TPMS) with Bluetooth low energy wireless technology for improved vehicle safety and performance. This system replaces the traditional ultra-high frequency (UHF) radio with Bluetooth to allow two-way communication. It’s compatible with Over-the-Air updates, so drivers can receive updates without going to a service center, and it offers enhanced cybersecurity measures.
Which geography holds the highest automotive tire pressure monitoring system market share?
North America was the largest region in the automotive tire pressure monitoring system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive tire pressure monitoring system market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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How do different segments contribute to the overall expansion of the automotive tire pressure monitoring system market?
The automotive tire pressure monitoring system market covered in this report is segmented –
1) By Type: Direct TPMS, Indirect TPMS
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
3) By Sales Channel Type: OEM, After market
Subsegments:
1) By Direct TPMS: Battery-Powered Direct TPMS, Solar-Powered Direct TPMS, Multi-Channel Direct TPMS
2) By Indirect TPMS: ABS-Based Indirect TPMS, Wheel Speed Sensor-Based Indirect TPMS
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How is the automotive tire pressure monitoring system market defined, and what are its core characteristics?
The automotive tire pressure monitoring system (TPMS) is an electronic system that monitors the tire’s internal air pressure and gives real-time data on tire pressure. It also helps to warn the driver about the underinflated tires. These are used to monitor the pressure of tires in vehicles using pressure sensors.
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