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Automotive TPMS Market Size (2024 - 2029)

The automotive tire pressure monitoring system (TPMS) market is poised for significant growth, driven by increasing vehicle sales and a rising consumer preference for advanced driver assistance systems. Despite a temporary decline due to the COVID-19 pandemic, the market is expected to expand, with strategic alliances and new product developments by major players contributing to this growth. The Asia-Pacific region, particularly countries like Japan, India, and China, is anticipated to dominate the market, supported by consumer awareness and the demand for luxury vehicles.

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Market Size of Automotive TPMS Industry

Automotive TPMS Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 13.00 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Automotive TPMS Market Major Players

*Disclaimer: Major Players sorted in no particular order

Automotive TPMS Market Analysis

The Automotive Tire Pressure Monitoring System (TPMS) Market was valued at USD 5.67 billion. It is expected to reach a value of USD 13.60 billion over the next five years, registering a CAGR of more than 13% during the forecast period.

The COVID-19 pandemic resulted in the shutdown of assembly lines, social distancing norms, and stringent lockdowns worldwide. The market took a step back and saw a decline in demand. However, following the pandemic, rising vehicle sales are expected to support market demand over the forecast period. Major players are forming strategic alliances and focusing on developing new products. For instance,

  • October 2022: Volvo Group, Qamcom Group, and the inventor Roman Lustin formed a new start-up company, Fyrqom AB. It will provide an automated system for calibrating heavy-duty vehicles' tire pressure monitoring systems (TPMS).

Over the long term, consumer preference for advanced driver assistance systems is expected to play a significant role in the automotive TPMS market growth. Furthermore, a surge in the sales of luxury vehicles equipped with TPMS will propel the automotive TPMS growth during the forecast period. Though demand for TPMS was initially driven by the luxury and premium car segments, well-equipped with this monitoring system, mid-segment one-tire vehicles meet market demand. For instance,

  • June 2022: Volkswagen debuted the 2022 Virtus with a 1-tire TSI Comfortline variant. More than 40 features and sensors are available in the sedan segment, including a tire pressure monitoring system.

The Asia-Pacific region is expected to be the largest market for automotive TPMS, with Japan, India, and China serving as major automotive hubs. The Indian automotive TPMS market is expected to be driven by rising consumer awareness, aftermarket TPMS installation, and rising demand for luxury vehicles. For instance,

  • September 2022: Chongqing Livan Automotive Technology Co., Ltd. (Livan Auto), a battery-swappable car brand supported by Geely Automobile and Lifan Technology, introduced two new models. It includes a central console screen with an 8-inch LCD, a Tire Pressure Monitoring System (TPMS), and a Hill Hold Control (HHC) system.

Automotive TPMS Industry Segmentation

The Tire Pressure Monitoring System is an electronic system that provides real-time information about tire pressure by monitoring the air pressure inside the tires. The TPMS also warns the driver about the number of underinflated tires.

The Automotive Tire Pressure Monitoring System (TPMS) Market is segmented by type (direct TPMS and indirect TPMS), sales channel type (OEM and aftermarket), vehicle type (passenger cars and commercial vehicles), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Size and Forecast for the Automotive Tire Pressure Monitoring System (TPMS) Market in value (USD billion) for the Segmentation mentioned above.

Type
Direct TPMS
Indirect TPMS
Sales Channel Type
OEM
Aftermarket
Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Europe
United Kingdom
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of the South America
Middle-East and Africa
United Arab Emirates
Saudi Arabia
Rest of the Middle-East and Africa
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Automotive TPMS Market Size Summary

The automotive tire pressure monitoring system (TPMS) market is poised for significant growth, driven by increasing consumer demand for advanced driver assistance systems and the rising sales of luxury vehicles equipped with these systems. The market, which experienced a temporary setback due to the COVID-19 pandemic, is expected to recover and expand as vehicle sales rise. Strategic alliances and product innovations, such as the formation of Fyrqom AB by Volvo Group and others, are enhancing the market landscape. The Asia-Pacific region, particularly Japan, India, and China, is anticipated to be the largest market, fueled by growing consumer awareness and demand for luxury vehicles. The integration of TPMS in mid-segment vehicles further broadens the market's reach, with automakers like Volkswagen and Audi incorporating these systems into their new models.

The TPMS market is moderately consolidated, with major players like Sensata Technologies, Huf Electronics, and Continental leading the charge. These companies are investing heavily in research and development to integrate TPMS with other safety solutions, responding to the demand for high-quality and durable products. The market's growth is supported by the increasing penetration of premium cars and the adoption of safety regulations in the Asia-Pacific region. Innovations such as Continental's REDI-Sensor and KRAIBURG Austria's TYLOGIC highlight the ongoing advancements in TPMS technology. As automakers continue to prioritize safety features, TPMS is expected to become standard in a wider range of vehicles, including C-segment hatchbacks, sedans, and SUVs, ensuring positive market momentum throughout the forecast period.

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Automotive TPMS Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value USD Billion)

    1. 2.1 Type

      1. 2.1.1 Direct TPMS

      2. 2.1.2 Indirect TPMS

    2. 2.2 Sales Channel Type

      1. 2.2.1 OEM

      2. 2.2.2 Aftermarket

    3. 2.3 Vehicle Type

      1. 2.3.1 Passenger Cars

      2. 2.3.2 Commercial Vehicles

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 United Kingdom

        2. 2.4.2.2 Germany

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of the South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 United Arab Emirates

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 Rest of the Middle-East and Africa

Automotive TPMS Market Size FAQs

The Automotive TPMS Market is projected to register a CAGR of greater than 13% during the forecast period (2024-2029)

Delphi Automotive, DENSO Corporation, Continental AG, ZF TRW and Valor TPMS are the major companies operating in the Automotive TPMS Market.

Automotive Tire Pressure Monitoring System Market Report Snapshots

TPMS Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)