The tire pressure monitoring system (TPMS) market is expected to grow at a CAGR of 6.2% from 2024 to 2034, with its market value increasing from USD 3.47 billion in 2024 to USD 6.34 billion by 2034.
This strong growth is driven by stricter safety regulations and rising consumer awareness about the importance of maintaining proper tire pressure. TPMS enhances driving safety by continuously monitoring tire air pressure and providing real-time updates to drivers, helping to prevent accidents caused by under-inflated or over-inflated tires. Government mandates in regions like the U.S. and Europe, requiring TPMS in all new vehicles, are further boosting market adoption.
Technological advancements are playing a key role in shaping the TPMS market. TPMS is divided into two types: direct, which uses sensors in each tire for accurate pressure readings, and indirect, which estimates pressure based on wheel speed and other vehicle factors. Innovations in sensor technology are improving TPMS accuracy, reliability, and affordability. Additionally, integrating TPMS with advanced driver-assistance systems (ADAS) and vehicle telematics provides a more comprehensive approach to vehicle health monitoring.
The market is also benefiting from a growing focus on fuel efficiency and tire durability. Proper tire inflation reduces rolling resistance, improving fuel efficiency and lowering CO2 emissions. For commercial vehicles and fleet operators, TPMS helps reduce tire wear and avoid costly downtime from tire failures. The increasing adoption of electric and smart vehicles presents new opportunities for TPMS manufacturers to develop advanced systems compatible with cutting-edge automotive technologies. As the automotive industry continues to emphasize safety and efficiency, the TPMS market is poised for sustained growth and innovation.
Make Informed Business Decisions With a Automotive Market Overview. Get Your Sample Report Now to Access Valuable Insights from Industry Experts.
Key Takeaways from the Tire Pressure Monitoring System Market
- The United States tire pressure monitoring system industry is projected to experience a CAGR of 6.1% through 2034.
- Japan’s tire pressure monitoring system (TPMS) market is expected to demonstrate a CAGR of 12.9% through 2034.
- The United Kingdom’s TPMS industry is anticipated to witness a CAGR of 5.1% through 2034.
- The Indian tire pressure monitoring system industry is expected to showcase a significant CAGR of 12.8% through 2034.
- The Chinese TPMS market is expected to display a CAGR of 13.1% through 2034.
Competitive Landscape of the Tire Pressure Monitoring System Market
The automotive industry’s need for high precision and durability is driving substantial expansion of the tire pressure monitoring system (TPMS) market. Advanced driver assistance systems are becoming a result of major manufacturers spending on research and development to integrate TPMS with other safety technologies.
With several tire pressure monitoring system producers, automakers, and service providers, the tire pressure monitoring system market is expanding significantly. By establishing enduring connections with OEMs and ADAS TPMS makers in key markets like Europe and India, TPMS manufacturers are creating new sources of income. To stay dominant in the market and satisfy changing needs from the automobile sector, leading companies in the TPMS market make investments in state-of-the-art sensor technologies.
Key Companies in the Tire Pressure Monitoring System Market
- Continental AG
- ZF Friedrichshafen AG
- DENSO Corporation
- Mobileye
- Aptiv Plc
- Veoneer Inc.
- Autoliv Inc.
- Valeo SA
- Magna International
- Aisin Seiki Co., Ltd.
Recent Developments in the Tire Pressure Monitoring System Market
- Parker Meggitt’s iPRESS wireless tire pressure gauge for aviation, which offers an improved user experience and tire pressure status feature incorporated into an app for smartphones and tablets, was granted a Supplemental Type Certificate in October 2023.
- With the introduction of the XENSIV SP49 tire pressure-monitoring sensor in September 2023, Infineon Technologies AG combined its knowledge of automobiles with a proprietary glass-silicon-glass MEMS sensor. The sensor offers smart tire functions, including load recognition, tire blowout warning, tire inflation assistance, and on-tire auto-position sensing by integrating MEMS sensors with ASIC.
Key Segmentations
By Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Vehicle Type:
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
