About Tire Pressure Monitoring System
A Tire Pressure Monitoring System (TPMS) is a safety feature in vehicles designed to monitor and provide real-time information about the air pressure of the tires. The primary purpose of TPMS is to ensure that the tires are properly inflated and within the recommended pressure range. This system helps enhance safety, improve fuel efficiency, extend tire life, and reduce the risk of accidents caused by underinflated or overinflated tires. The growing awareness of safety among consumers and the automotive industry's emphasis on safety features are significant drivers of the TPMS market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Manufacturers offer both direct and indirect TPMS solutions to cater to different vehicle types and customer preferences. Also focusing on Investment in R&D to stay ahead of the competition by developing advanced TPMS technologies. Apart from this, profitable acquisitions and mergers as well as mutual partnerships help firms maintain their competitive edge. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ZF Friedrichshafen AG (Germany), Continental AG (Germany), Sensata Technologies Inc. (United States), Denso Corporation (Japan), Pacific Industrial Co. Ltd. (Japan), NXP Semiconductors (Netherlands), Huf Hülsbeck & Fürst GmbH & Co. KG (Germany), Infineon Technologies AG (Germany), Knorr-Bremse AG (Germany) and Hamaton (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ATEQ TPMS (United States), Garmin Ltd. (United States) and Doran Manufacturing LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Tire Pressure Monitoring System market by Type (Direct TPMS and Indirect TPMS) and Region.
On the basis of geography, the market of Tire Pressure Monitoring System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. OEM (Original Equipment Manufacturer) will boost the Tire Pressure Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Passenger Cars will boost the Tire Pressure Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Wired TPMS will boost the Tire Pressure Monitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of HD Tire Pressure Monitoring System and Increasing Adoption of Sensor Technology in Vehicles, along With the Rapid Development of Integrated Sensor Systems
Market Growth Drivers:
Growing Consumer Awareness about the Importance of Tire Maintenance and the Benefits of TPMS and Increasing Demand for Vehicle Safety Boost the Market for Tire Pressure Monitoring Systems
Challenges:
TPMS Sensors Require Regular Maintenance and Need to be Replaced Over Time Due to Battery Life or Damage
Restraints:
High Price Associated With the Tire-Pressure Monitoring System Hamper the Growth of the Market
Opportunities:
Increasing Government Regulations for Vehicle Safety Provides Opportunity to the Market
Market Leaders and their expansionary development strategies
In May 2020, ZF Friedrichshafen AG completed the acquisition of commercial vehicle technology supplier WABCO, having gained approval from all required regulatory authorities. The combination of these two successful enterprises would bring a new dimension of innovation and capability for commercial vehicle systems technology.
In August 2023, Continental offered remote tire monitoring in real-time for trailers through its ContiConnect Live digital solution. The system works equally well with freestanding and coupled trailers. and In April 2023, Continental, a technology company launched the production of a tire pressure monitoring system (TPMS) for passenger cars, at its Bangalore plant which would complement its overall vision for safe mobility in India.
In the United States, the regulatory body responsible for Tire Pressure Monitoring Systems (TPMS) is the National Highway Traffic Safety Administration (NHTSA), which is part of the U.S. Department of Transportation. The NHTSA established regulations mandating TPMS in the United States to improve vehicle safety and fuel efficiency.
Key Target Audience
Manufacturers of Tire Pressure Monitoring System, Suppliers of Tire Pressure Monitoring System, New Entrants/Investors, Industry Associations, Research and Consulting Firms, Government Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.