Global Tyre Pressure Monitoring System (Tpms) Market Size, Share, Analysis Report - Forecast 2032

Tyre Pressure Monitoring System (Tpms) Market Insights

A latest report by Market Research Store estimates that the Global Tyre Pressure Monitoring System (Tpms) Market was valued at USD 2.37 Billion in 2023 and is expected to reach USD 4.36 Billion by 2032, with a CAGR of 7% during the forecast period 2024-2032. The report Tyre Pressure Monitoring System (Tpms) Market overview, growth factors, restraints, opportunities, segmentation, key developments, competitive landscape, consumer insights, and market growth forecast in terms of value or volume. These structured details offer an all-inclusive market overview, providing valuable insights for investment decisions, business decisions, strategic planning, and competitive analysis.

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Tyre Pressure Monitoring System (Tpms) Market: Overview

The growth of the tyre pressure monitoring system (TPMS) market is fueled by rising global demand across various industries and applications. The report highlights lucrative opportunities, analyzing cost structures, key segments, emerging trends, regional dynamics, and advancements by leading players to provide comprehensive market insights. The tyre pressure monitoring system (TPMS) market report offers a detailed industry analysis from 2024 to 2032, combining quantitative and qualitative insights. It examines key factors such as pricing, market penetration, GDP impact, industry dynamics, major players, consumer behavior, and socio-economic conditions. Structured into multiple sections, the report provides a comprehensive perspective on the market from all angles.

Key sections of the tyre pressure monitoring system (TPMS) market report include market segments, outlook, competitive landscape, and company profiles. Market Segments offer in-depth details based on Vehicle Type, Type, Sales Channel, and other relevant classifications to support strategic marketing initiatives. Market Outlook thoroughly analyzes market trends, growth drivers, restraints, opportunities, challenges, Porter’s Five Forces framework, macroeconomic factors, value chain analysis, and pricing trends shaping the market now and in the future. The Competitive Landscape and Company Profiles section highlights major players, their strategies, and market positioning to guide investment and business decisions. The report also identifies innovation trends, new business opportunities, and investment prospects for the forecast period.

Key Highlights:

• As per the analysis shared by our research analyst, the global tyre pressure monitoring system (TPMS) market is estimated to grow annually at a CAGR of around 7% over the forecast period (2024-2032).
• In terms of revenue, the global tyre pressure monitoring system (TPMS) market size was valued at around USD 2.37 Billion in 2023 and is projected to reach USD 4.36 Billion by 2032.
• The market is projected to grow at a significant rate due to stringent vehicle safety regulations, increasing awareness of fuel efficiency, and rising adoption of advanced automotive safety technologies.
• Based on the Vehicle Type, the Passenger Vehicle segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• On the basis of Type, the Direct TPMS segment is anticipated to command the largest market share.
• In terms of Sales Channel, the OEM segment is projected to lead the global market.
• Based on region, Europe is projected to dominate the global market during the forecast period.

Tyre Pressure Monitoring System (Tpms) Market: Report Scope

This report thoroughly analyzes the tyre pressure monitoring system (TPMS) market, exploring its historical trends, current state, and future projections. The market estimates presented result from a robust research methodology, incorporating primary research, secondary sources, and expert opinions. These estimates are influenced by the prevailing market dynamics as well as key economic, social, and political factors. Furthermore, the report considers the impact of regulations, government expenditures, and advancements in research and development on the market. Both positive and negative shifts are evaluated to ensure a comprehensive and accurate market outlook.

Tyre Pressure Monitoring System (Tpms) Market: Dynamics

Key Growth Drivers

The Tyre Pressure Monitoring System (TPMS) market in India is experiencing significant growth, primarily driven by the increasing awareness among vehicle owners about the safety and economic benefits of maintaining optimal tyre pressure, such as improved fuel efficiency, extended tyre lifespan, and enhanced vehicle handling. The growing emphasis on vehicle safety regulations and the potential mandate of TPMS in new vehicles by regulatory bodies in India, aligning with global trends, is a major driver. Furthermore, the rising number of road accidents caused by tyre-related issues is highlighting the importance of TPMS in preventing such incidents. The decreasing cost of TPMS sensors and electronic components is making the technology more accessible across different vehicle segments. Additionally, the integration of TPMS with other vehicle systems and the increasing adoption of connected car technologies are further propelling market growth.

Restraints

Despite the strong growth drivers, the Tyre Pressure Monitoring System (TPMS) market in India faces certain restraints. The higher initial cost of vehicles equipped with TPMS can be a barrier for price-sensitive consumers, particularly in the high-volume, entry-level segments. A lack of widespread awareness and understanding among some vehicle owners about the functionality and benefits of TPMS can limit its perceived value. Furthermore, the complexity of replacing or recalibrating TPMS sensors during tyre changes or maintenance can lead to reluctance among some vehicle owners and mechanics. The potential for sensor malfunction and the need for periodic battery replacements in direct TPMS systems can also be a concern. The presence of a large unorganized aftermarket offering potentially lower-quality or incompatible TPMS components can also pose challenges for established players.

Opportunities

The Tyre Pressure Monitoring System (TPMS) market in India presents numerous opportunities for innovation and expansion. The increasing demand for enhanced vehicle safety features across all vehicle segments provides a large potential market for TPMS. The development of more cost-effective and reliable TPMS solutions tailored to the specific needs and price points of the Indian market can drive wider adoption. Furthermore, the integration of TPMS with mobile apps and telematics platforms can provide real-time tyre pressure information and alerts to drivers, enhancing convenience and safety. The potential for offering aftermarket TPMS kits for older vehicles that are not factory-equipped can tap into a significant existing vehicle parc. The development of advanced TPMS functionalities, such as tyre temperature monitoring and proactive maintenance alerts, can offer added value.

Challenges

The Tyre Pressure Monitoring System (TPMS) market in India faces challenges related to ensuring the reliability and accuracy of TPMS sensors under diverse and often harsh Indian road and weather conditions. Educating vehicle owners and mechanics about the importance of proper TPMS maintenance and calibration is crucial for its effective functioning. Furthermore, standardizing TPMS protocols and ensuring interoperability across different vehicle makes and models can be complex. Addressing the cost sensitivity of the market while offering high-quality and reliable TPMS solutions requires efficient manufacturing and sourcing strategies. Combating the sale of counterfeit or low-quality TPMS components that may not meet safety standards is also essential. Finally, navigating the evolving regulatory landscape and ensuring compliance with potential future mandates for TPMS in India requires proactive engagement with government bodies.

Tyre Pressure Monitoring System (Tpms) Market: Segmentation Insights

The global tyre pressure monitoring system (TPMS) market is segmented based on Vehicle Type, Type, Sales Channel, and Region. All the segments of the tyre pressure monitoring system (TPMS) market have been analyzed based on present & future trends and the market is estimated from 2024 to 2032.

Based on Vehicle Type, the global tyre pressure monitoring system (TPMS) market is divided into Passenger Vehicle, Commercial Vehicle.

On the basis of Type, the global tyre pressure monitoring system (TPMS) market is bifurcated into Direct TPMS, Indirect TPMS.

In terms of Sales Channel, the global tyre pressure monitoring system (TPMS) market is categorized into OEM, Aftermarket.

Tyre Pressure Monitoring System (Tpms) Market: Regional Insights

Asia-Pacific (APAC) dominates the global Tyre Pressure Monitoring System (TPMS) market, holding the largest revenue share (32.3% in 2024) and projected to maintain its lead through 2035, driven by rapid vehicle production, stringent safety regulations, and growing adoption in emerging economies like China and India. The region benefits from government mandates (e.g., China’s 2023 TPMS regulations for vehicles under 3.5 tonnes) and OEM integration by automakers such as SAIC and Geely, which embed TPMS in mid-range EVs and sedans.

North America follows as the second-largest market, fueled by early FMVSS 138 regulations (mandating TPMS since 2007) and high penetration in passenger vehicles, with the U.S. accounting for 87% of regional demand. Europe ranks third, with E.U. General Safety Regulations (2014) driving TPMS adoption, particularly in Germany and France, where integration with ADAS is accelerating.

APAC’s dominance is reinforced by cost-effective manufacturing hubs, rising disposable incomes, and EV expansion, with TPMS becoming critical for battery efficiency in electric vehicles. Meanwhile, North America and Europe focus on smart TPMS innovations, such as Bluetooth-enabled sensors (e.g., Sensata’s BLE kits) and IoT integration for fleet management.

Tyre Pressure Monitoring System (Tpms) Market: Competitive Landscape

The tyre pressure monitoring system (TPMS) market report offers a thorough analysis of both established and emerging players within the market. It includes a detailed list of key companies, categorized based on the types of products they offer and other relevant factors. The report also highlights the market entry year for each player, providing further context for the research analysis.

The "Global Tyre Pressure Monitoring System (Tpms) Market" study offers valuable insights, focusing on the global market landscape, with an emphasis on major industry players such as;

• ZF Friedrichshafen AG
• Delphi Technologies (Phinia Inc.)
• DENSO CORPORATION
• Continental AG
• Valor (TPMS)
• HELLA GmbH & Co. KGaA
• VALEO
• Alligator Valves
• Sensata Technologies Inc.
• Huf Hülsbeck & Fürst GmbH & Co. KG

The Global Tyre Pressure Monitoring System (Tpms) Market is Segmented as Follows:

By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

By Type

• Direct TPMS
• Indirect TPMS

By Sales Channel

• OEM
• Aftermarket

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Market Evolution

This section evaluates the market position of the product or service by examining its development pathway and competitive dynamics. It provides a detailed overview of the product's growth stages, including the early (historical) phase, the mid-stage, and anticipated future advancements influenced by innovation and emerging technologies.

Porter’s Analysis

Porter’s Five Forces framework offers a strategic lens for assessing competitor behavior and the positioning of key players in the tyre pressure monitoring system (TPMS) industry. This section explores the external factors shaping competitive dynamics and influencing market strategies in the years ahead. The analysis focuses on five critical forces:

• Competitive Rivalry
• Threat of New Entrants
• Threat of Substitutes
• Supplier Bargaining Power
• Buyer Bargaining Power

Value Chain & Market Attractiveness Analysis

The value chain analysis helps businesses optimize operations by mapping the product flow from suppliers to end consumers, identifying opportunities to streamline processes and gain a competitive edge. Segment-wise market attractiveness analysis evaluates key dimensions like product categories, demographics, and regions, assessing growth potential, market size, and profitability. This enables businesses to focus resources on high-potential segments for better ROI and long-term value.

PESTEL Analysis

PESTEL analysis is a powerful tool in market research reports that enhances market understanding by systematically examining the external macro-environmental factors influencing a business or industry. The acronym stands for Political, Economic, Social, Technological, Environmental, and Legal factors. By evaluating these dimensions, PESTEL analysis provides a comprehensive overview of the broader context within which a market operates, helping businesses identify potential opportunities and threats.

• Political factors assess government policies, stability, trade regulations, and political risks that could impact market operations.
• Economic factors examine variables like inflation, exchange rates, economic growth, and consumer spending power to determine market viability.
• Social factors explore cultural trends, demographics, and lifestyle changes that shape consumer behavior and preferences.
• Technological factors evaluate innovation, R&D, and technological advancements affecting product development and operational efficiencies.
• Environmental factors focus on sustainability, climate change impacts, and eco-friendly practices shaping market trends.
• Legal factors address compliance requirements, industry regulations, and intellectual property laws impacting market entry and operations.

Import-export Analysis & Pricing Analysis

An import-export analysis is vital for market research, revealing global trade dynamics, trends, and opportunities. It examines trade volumes, product categories, and regional competitiveness, offering insights into supply chains and market demand. This section also analyzes past and future pricing trends, helping businesses optimize strategies and enabling consumers to assess product value effectively.

Tyre Pressure Monitoring System (Tpms) Market: Company Profiles

The report identifies key players in the tyre pressure monitoring system (TPMS) market through a competitive landscape and company profiles, evaluating their offerings, financial performance, strategies, and market positioning. It includes a SWOT analysis of the top 3-5 companies, assessing strengths, weaknesses, opportunities, and threats. The competitive landscape highlights rankings, recent activities (mergers, acquisitions, partnerships, product launches), and regional footprints using the Ace matrix. Customization is available to meet client-specific needs.

Regional & Industry Footprint

This section details the geographic reach, sales networks, and market penetration of companies profiled in the tyre pressure monitoring system (TPMS) report, showcasing their operations and distribution across regions. It analyzes the alignment of companies with specific industry verticals, highlighting the industries they serve and the scope of their products and services within those sectors.

Ace Matrix

This section categorizes companies into four distinct groups—Active, Cutting Edge, Innovator, and Emerging—based on their product and business strategies. The evaluation of product strategy focuses on aspects such as the range and depth of offerings, commitment to innovation, product functionalities, and scalability. Key elements like global reach, sector coverage, strategic acquisitions, and long-term growth plans are considered for business strategy. This analysis provides a detailed view of companies' position within the market and highlights their potential for future growth and development.

Research Methodology

The qualitative and quantitative insights for the tyre pressure monitoring system (TPMS) market are derived through a multi-faceted research approach, combining input from subject matter experts, primary research, and secondary data sources. Primary research includes gathering critical information via face-to-face or telephonic interviews, surveys, questionnaires, and feedback from industry professionals, key opinion leaders (KOLs), and customers. Regular interviews with industry experts are conducted to deepen the analysis and reinforce the existing data, ensuring a robust and well-rounded market understanding.

Secondary research for this report was carried out by the Market Research Store team, drawing on a variety of authoritative sources, such as:

• Official company websites, annual reports, financial statements, investor presentations, and SEC filings
• Internal and external proprietary databases, as well as relevant patent and regulatory databases
• Government publications, national statistical databases, and industry-specific market reports
• Media coverage, including news articles, press releases, and webcasts about market participants
• Paid industry databases for detailed market insights

Market Research Store conducted in-depth consultations with various key opinion leaders in the industry, including senior executives from top companies and regional leaders from end-user organizations. This effort aimed to gather critical insights on factors such as the market share of dominant brands in specific countries and regions, along with pricing strategies for products and services.

To determine total sales data, the research team conducted primary interviews across multiple countries with influential stakeholders, including:

• Distributors
• Marketing, Brand, and Product Managers
• Procurement and Production Managers
• Sales and Regional Sales Managers, Country Managers
• Technical Specialists
• C-Level Executives

These subject matter experts, with their extensive industry experience, helped validate and refine the findings. For secondary research, data was sourced from a wide range of materials, including online resources, company annual reports, industry publications, research papers, association reports, and government websites. These various sources provide a comprehensive and well-rounded perspective on the market.

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