The global market for Tire Pressure Monitoring Systems (TPMS) is estimated at US$18.2 Billion in 2023 and is projected to reach US$42.7 Billion by 2030, growing at a CAGR of 12.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the Tire Pressure Monitoring Systems (TPMS) market is driven by several factors, including increasing vehicle safety regulations, rising consumer awareness about tire safety, and advancements in automotive technologies. Governments around the world are implementing stringent safety standards that mandate the inclusion of TPMS in new vehicles to enhance road safety. For instance, the United States and the European Union have regulations requiring TPMS in all passenger cars and light trucks. This regulatory push is a significant driver of market growth. Moreover, growing consumer awareness about the benefits of maintaining proper tire pressure, such as improved fuel efficiency, reduced tire wear, and enhanced safety, has led to higher adoption rates of TPMS. Technological advancements have also played a crucial role, as they have made TPMS more reliable, user-friendly, and affordable, encouraging broader adoption across various vehicle segments. The rise of electric and autonomous vehicles, which demand advanced safety and monitoring systems, further propels the demand for sophisticated TPMS solutions. Additionally, the aftermarket segment for TPMS is expanding, driven by vehicle owners` increasing preference for retrofitting older vehicles with modern safety technologies. These factors collectively ensure the sustained growth and evolution of the TPMS market, underscoring its critical role in contemporary automotive safety and performance.
The growth in the Tire Pressure Monitoring Systems (TPMS) market is driven by several factors, including increasing vehicle safety regulations, rising consumer awareness about tire safety, and advancements in automotive technologies. Governments around the world are implementing stringent safety standards that mandate the inclusion of TPMS in new vehicles to enhance road safety. For instance, the United States and the European Union have regulations requiring TPMS in all passenger cars and light trucks. This regulatory push is a significant driver of market growth. Moreover, growing consumer awareness about the benefits of maintaining proper tire pressure, such as improved fuel efficiency, reduced tire wear, and enhanced safety, has led to higher adoption rates of TPMS. Technological advancements have also played a crucial role, as they have made TPMS more reliable, user-friendly, and affordable, encouraging broader adoption across various vehicle segments. The rise of electric and autonomous vehicles, which demand advanced safety and monitoring systems, further propels the demand for sophisticated TPMS solutions. Additionally, the aftermarket segment for TPMS is expanding, driven by vehicle owners` increasing preference for retrofitting older vehicles with modern safety technologies. These factors collectively ensure the sustained growth and evolution of the TPMS market, underscoring its critical role in contemporary automotive safety and performance.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Direct TPMS segment, which is expected to reach US$38.7 Billion by 2030 with a CAGR of a 13.3%. The Indirect TPMS segment is also set to grow at 9.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $4.2 Billion in 2023, and China, forecasted to grow at an impressive 24.3% CAGR to reach $16.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Tire Pressure Monitoring Systems (TPMS) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Tire Pressure Monitoring Systems (TPMS) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Tire Pressure Monitoring Systems (TPMS) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Denso Corporation, Continental AG, Bridgestone Corporation, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 76 Featured):
- Denso Corporation
- Continental AG
- Bridgestone Corporation
- Dana, Inc.
- Bendix Commercial Vehicles Systems LLC
- ACDelco
- Crane Aerospace & Electronics
- ALLIGATOR Ventilfabrik GmbH
- Bartec USA LLC
- Bridgestone Americas Tire Operations LLC (BATO)
- Continental Automotive GmbH - VDO
- Farsens SL
- Continental Reifen Deutschland GmbH
- HELLA GmbH & Co. KGaA
- Hauvrex Automotive Equipment (Lin`an) Company Limited
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARYIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Denso Corporation
- Continental AG
- Bridgestone Corporation
- Dana, Inc.
- Bendix Commercial Vehicles Systems LLC
- ACDelco
- Crane Aerospace & Electronics
- ALLIGATOR Ventilfabrik GmbH
- Bartec USA LLC
- Bridgestone Americas Tire Operations LLC (BATO)
- Continental Automotive GmbH - VDO
- Farsens SL
- Continental Reifen Deutschland GmbH
- HELLA GmbH & Co. KGaA
- Hauvrex Automotive Equipment (Lin`an) Company Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 313 |
| Published | December 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 18.2 Billion |
| Forecasted Market Value ( USD | $ 42.7 Billion |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
