AUTOMOTIVE TIRE PRESSURE MONITORING SYSTEM MARKET ANALYSIS

Global Automotive Tire Pressure Monitoring System (TPMS) Market size was valued at US$ 6.41 Billion in 2022, exhibiting a compound annual growth rate (CAGR) of 13% from 2023 to 2030.

Automotive tire pressure monitoring system (TPMS) market refers to the industries involved in the manufacture, sale, and implementation of systems for monitoring vehicle tire pressure. TPMS technology has become an important safety feature in modern automobiles as it ensures proper tire inflation and reduces the risk of accidents caused by under or over-inflation. The TPMS market has experienced significant growth over the past few years due to various factors. Especially in developed countries, government regulations mandating the installation of TPMS in vehicles have been a major driver of market expansion. These regulations aim to improve road safety, improve fuel efficiency and reduce CO2 emissions. 

Global Automotive Tire Pressure Monitoring System (TPMS) Market - Regional Analysis

Figure 1. Global Automotive Tire Pressure Monitoring System (TPMS) Market Share (%), By Region, 2022

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The North American region, especially the U.S., has a mature TPMS market. The demand for TPMS systems is increasing due to strict regulations mandating the installation of TPMS in vehicles. In addition, rising safety concerns and the introduction of advanced automotive technology contribute to the growth of the market in the region. 

Europe has a TPMS market primarily established by European Union (EU) regulations. The demand for TPMS is also driven by growing awareness of vehicle safety and the increasing adoption of advanced driver assistance systems (ADAS) in the region. The European market is expected to grow steadily due to the level of automobile production and the presence of major automobile manufacturers. 

In the Asia-Pacific region, the TPMS market is dominating the market. Rise in vehicle production, rising disposable income, and growing awareness of vehicle safety all contribute to market expansion in countries such as China, Japan, and South Korea. Additionally, government efforts to promote vehicle safety and the introduction of safety regulations similar to those in North America and Europe continue to increase the demand for TPMS in the region. 

The Latin American TPMS market is driven by factors such as improving economic conditions, increasing vehicle production, and the introduction of safety regulations. Countries such as Brazil and Mexico experienced significant growth in the automotive industry, increasing the demand for TPMS systems.

The Middle East and Africa region is seeing moderate demand for TPMS, mainly due to rising vehicle sales and increasing importance of vehicle safety. Market growth is also supported by the expansion of infrastructure and the introduction of safety regulations in certain countries. 

Global Automotive Tire Pressure Monitoring System (TPMS) Market – Segmentation by Vehicle Type

Figure 2. Global Automotive Tire Pressure Monitoring System (TPMS) Market Value (%), By Vehicle Type, 2022

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Tire pressure monitoring systems (TPMS) have become an essential safety feature in the passenger car segment of the automotive industry. TPMS continuously monitors the pressure of each tire and warns the driver in real-time if tire pressure falls below recommended levels, helping to prevent accidents and improve fuel efficiency. By ensuring optimal tire pressure, a TPMS extends tire life while improving vehicle stability, traction, and overall performance. This technology has become a standard requirement for modern passenger cars and reflects its important role in improving road safety and providing drivers with valuable information to maintain optimal tire conditions. 

 The Global Automotive Tire Pressure Monitoring System (TPMS) Market is valued at US$ 6.41 Billion in 2022 and expected to reach US$ 16.84 Billion by 2030, exhibiting a CAGR of 13% between 2023 and 2030.

Global Automotive Tire Pressure Monitoring System (TPMS) Market - Key Competitors

Key industry participants in the Global Automotive Tire Pressure Monitoring System (TPMS) Market ZF Friedrichshafen AG, ATEQ, Continental AG, Bartec USA LLC, Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, AUTOMOTIVE TECHNOLOGY CO., LTD., Rivigo Services, Denso Corporation, DUNLOP TECH GmbH, Pacific Industrial Co., Ltd., Bendix Commercial Vehicles Systems LLC, NXP Semiconductors, NIRA Dynamics AB, WABCO, and Hamaton Automotive Technology CO., LTD.

Global Automotive Tire Pressure Monitoring System (TPMS) Market - Recent Developments

• In 2022, Continental AG, a leading Germany-based automotive manufacturing company specializing in the production of tires, brake systems, and various automotive technologies, announced its intelligent tire monitoring system. Specially developed for CombineMaster and CombineMaster VF tires. This advanced system is designed to continuously monitor and provide real-time tire pressure and temperature data to improve safety, efficiency, and productivity in agricultural applications. ContiPressureCheck provides a comprehensive tire management solution to meet the critical need of accurately monitoring combine tire pressure and temperature. By continuously monitoring tire conditions, the system prevents problems such as under-inflation, over-inflation, and overheating that can lead to tire damage, poor performance, and even potential accidents. The system consists of intelligent sensors built into the tire that constantly measure tire pressure and tire temperature. The sensors transmit data wirelessly to a central receiving unit installed within the vehicle. From there, the information is displayed in a user-friendly interface, giving the operator an instant understanding of tire condition and performance. One of the main benefits of ContiPressureCheck is its ability to provide operators with real-time alerts when abnormal tire conditions occur. This early warning system enables rapid action to prevent potential tire damage, reduce downtime and optimize operational efficiency. By maintaining optimal tire pressure, the ContiPressureCheck system helps improve fuel efficiency, minimize soil compaction, and improve traction and stability, thereby positively impacting crop yield and overall machine performance. In addition, proper tire management helps extend tire life and reduce maintenance costs, making it a valuable investment for your farm. This new addition to the TPMS market sets standards within the market and also contributes towards the growth of the market.
• In February 2022, Continental AG announced a strategic initiative to improve its security solutions dedicated to the Indian market. Recognizing that India is the world's largest two-wheeler market, Continental has provided affordable and intelligent safety technology to improve road safety and rider protection. As part of this effort, Continental focused on the development and implementation of advanced driver assistance systems (ADAS) and tire pressure monitoring systems (TPMS), among other innovative solutions. ADAS technology is designed to assist drivers by providing additional safety features and improving situational awareness on the road. The ADAS solution by Continental is aimed at managing common road hazards and potential crash scenarios. These systems use state-of-the-art sensors, cameras and radar to detect and analyze the environment including vehicles, pedestrians, and obstacles. By continuously monitoring road conditions, ADAS technology provides drivers with real-time alerts and warnings, enabling them to make informed decisions and take appropriate actions to avoid accidents. By promoting proper tire maintenance and identifying tire problems early, a TPMS can help ensure safer driving and extend tire life. 
• In February 2022, Jaipur-based start-up Fleeca India Private Limited made a major breakthrough with the launch of Fleeca Kawach, India's first AI-powered intelligent truck tire pressure monitoring system 'TPMS'. This TPMS technology aims to improve the safety and efficiency of truck operations by enabling real-time monitoring of tire pressure and other critical parameters. The Fleeca Kawach features a rim-mounted electronic system that uses artificial intelligence (AI) algorithms to continuously monitor wheel speed and analyze signals from external sources. This approach allows the system to collect comprehensive data on tire performance and quickly identify potential problems. Fleeca Kawach helps truck drivers and fleet managers maintain optimal tire conditions by monitoring tire pressure in real-time. It provides alarms and warnings when tires deviate significantly from recommended tire pressure, enabling proactive maintenance and preventing problems associated with under or over-inflation. By solving these problems quickly, Fleeca Kawach reduces the risk of accidents, improves fuel economy, and extends tire life. 
• In December 2021, Japanese tire and rubber giant Sumitomo Rubber Industries, Ltd. announced the start of proof-of-concept testing of its new tire pressure management solution service. Shin-Idemitsu Co., IDEX Auto Japan Co., Ltd., Tripod Works Co., Ltd. Dunlop Tire Express Co., Ltd. (one of Sumitomo's tire sales subsidiaries) aims to enable remote monitoring of tire pressure and temperature. The Kobe-based company explained that the purpose of this field trial is to evaluate the effectiveness of the service in promoting safe driving and reducing maintenance time and effort. Sumitomo Corporation aims to establish a business model that contributes to overall driving safety and economic efficiency by taking measures to avoid driving errors and improve driving safety and economic efficiency. In the demonstration experiment, the new service will be introduced to 30 vehicles of the vehicle leasing business "Rakunori" operated by Shin Idemitsu, and 500 vehicles of the vehicle rental business "Budget Rental" operated by Idex Auto Japan. Car” has stores in Fukuoka, Miyazaki, and Kagoshima prefectures in the Kyushu region. This innovative service allows users to remotely access and view data collected by tire pressure monitoring systems (TPMS). Attached to each tire. This service uses cloud technology to easily monitor tire conditions from anywhere in the world. This not only reduces the time and effort required for tire maintenance, but also maintains optimal tire pressure, contributing to improved fuel efficiency, safe driving, and a sense of security. Through this joint project, Sumitomo Rubber Industries hopes to collect valuable knowledge and evaluate the practicality and effectiveness of the new service. By incorporating user feedback and evolving the solution, the company aims to develop a robust and reliable tire pressure management service that positively impacts safety, economy and the overall driving experience.

Global Automotive Tire Pressure Monitoring System (TPMS) Market – Drivers

Growing integration of automotive safety systems

The increasing integration of automotive safety systems is a major driver for the introduction of automotive tire pressure monitoring systems (TPMS). With driver and passenger safety becoming a priority, automakers are incorporating advanced safety features into their vehicles to reduce the risks associated with tire collisions. A TPMS plays a key role in this integration, continuously monitoring tire pressures and alerting drivers to deviations from recommended values. By ensuring optimal tire performance, TPMS help improve vehicle handling, improve fuel efficiency and reduce the risk of accidents, all in line with the broader goals of vehicle safety system integration. For instance, Continental AG a leading company in automotive technology, offers a comprehensive portfolio of security solutions including TPMS technology. The TPMS system continuously monitors tire pressure and temperature, providing real-time data to the driver. This integration with other safety systems complements features such as stability control, anti-lock braking systems, and advanced driver assistance systems, enabling a holistic approach to vehicle safety. By integrating TPMS into its safety products, Continental demonstrates the industry's recognition of the key role his TPMS plays in improving overall vehicle safety.

Improved fuel economy

Improving fuel efficiency is a strong factor driving the adoption of automotive tire pressure monitoring systems (TPMS). TPMS closely monitors tire pressure and helps optimize fuel efficiency by ensuring that tires are properly inflated. Low tire pressure increases rolling resistance and requires more energy to propel the vehicle, increasing fuel consumption. TPMS warns the driver of low tire pressure and allows timely adjustments to maintain optimum tire pressure, thus reducing fuel consumption and CO2 emissions. In addition, TPMS contributes to overall fuel efficiency and environmental sustainability in the automotive industry by promoting safer driving conditions and preventing tire accidents. For instance, Ford, a company in automotive technology and vehicle production, is at the forefront of introducing TPMS technology into its vehicles to improve fuel efficiency. Properly inflating your tires can have a big impact on your gas mileage. Ford has integrated an advanced TPMS system into the vehicle to constantly monitor tire pressure and warn the driver in real-time if the pressure drops below recommended levels. Ford's TPMS encourages drivers to maintain optimal tire pressures to improve fuel economy, reduce emissions and promote green driving habits across their fleet. 

Global Automotive Tire Pressure Monitoring System (TPMS) Market – Restraints

Tracking of vehicle due to TPMS signal     

Tire Pressure Monitoring System (TPMS) continuously monitors the real-time pressure of each tire, playing a vital role in ensuring vehicle safety and performance. These systems typically consist of a tire-mounted sensor that measures tire pressure and sends a signal to a receiving unit mounted on the vehicle. The receiver processes the information received from the sensors and flashes the low tire pressure warning light to warn the driver. However, there is a growing concern in the automotive industry that TPMS signals are potentially vulnerable to remote interception. Each TPMS sensor emits a unique signal that can be detected using a directional antenna. This means that unauthorized persons with the proper equipment and knowledge can intercept these signals, compromising the privacy and security of the vehicle. 

Counterbalance - Overall, there are concerns about TPMS signal interception, but signal range limitations, the nature of the data being transmitted, encryption and authentication implementations, and ongoing efforts to improve automotive cybersecurity all contribute to these concerns. cancels out To overcome these challenges, the automotive industry can continue to benefit from the safety and performance benefits of TPMS technology while maintaining vehicle owner privacy and security. 

Lack of universal standardization and compatibility across different vehicle models and regions.

The lack of a uniform TPMS standard makes it difficult for manufacturers to develop and implement a uniform system across their various vehicles. Different regions and countries may have their own regulations and requirements for TPMS, resulting in different specifications and technologies. This lack of standardization increases the complexity and expense associated with designing and manufacturing his TPMS systems to comply with different regional standards. Additionally, compatibility issues arise when a consumer needs to replace or upgrade his TPMS system. Due to the lack of universal standardization, it can be difficult to find compatible he TPMS components and sensors that work seamlessly with a particular vehicle model. This can lead to compatibility issues and requires additional effort and expense to ensure your TPMS system is working properly. 

Counterbalance - As standardization efforts continue, manufacturers and consumers can expect greater uniformity across TPMS systems, simplified manufacturing processes, reduced costs, and an improved overall user experience. By harmonizing regulations and establishing common standards, the industry can address compatibility challenges and promote a more accessible and consistent automotive TPMS market. 

Global Automotive Tire Pressure Monitoring System (TPMS) Market – Opportunity

Emerging markets across the globe

Significant market opportunities for the TPMS industry lie in emerging markets around the world. These markets, characterized by increasing vehicle production and increasing consumer demand for advanced safety features, offer favorable conditions for the introduction and expansion of TPMS technology. One instance of an emerging market with great potential is India. India, with its large population and growing middle class, has seen a significant increase in car sales in recent years. According to the Society of Indian Automobile Manufacturers (SIAM), India's passenger car sales rose 26.7% in 2022-23 due to an easing chip shortage and a surge in demand for sport utility vehicles (SUVs), data from the automotive trade body SIAM showed on Thursday. The Indian government is also actively promoting road safety initiatives, such as mandating safety features in vehicles. In this context, TPMS systems offer a valuable safety solution by enabling real-time tire pressure monitoring to enhance vehicle safety and reduce the risk of accidents due to under-inflation. As a result, there is an increasing opportunity for TPMS manufacturers to enter the Indian market and capture market share. 

Increasing adoption of electric vehicles

As the global automotive industry transitions to electric mobility, the demand for TPMS systems in electric vehicles is expected to grow significantly. TPMS plays a key role in ensuring optimal tire performance and efficiency, which is especially important for electric vehicles that rely on battery power. As EVs grow in popularity and require advanced safety features, TPMS systems are critical in monitoring tire pressure to ensure EV safety and performance on the road. For instance, a major electric vehicle manufacturer such as Tesla has already integrated TPMS as a standard feature in his EV models, providing drivers with real-time tire pressure information to ensure optimal safety and efficiency. This trend is expected to continue as more automakers add EVs to their product portfolios, presenting a promising market opportunity for TPMS manufacturers. 

 Global Automotive Tire Pressure Monitoring System (TPMS) Market – Impact of COVID-19

The global automotive tire pressure monitoring system (TPMS) market has been impacted negatively by the COVID-19 pandemic. The pandemic has had a major impact on the entire automotive industry, leading to supply chain disruptions, production shutdowns, and lower consumer demand. On the downside, the COVID-19 pandemic has significantly slowed vehicle production and sales worldwide. Lockdown measures, social distancing protocols, and economic uncertainty have resulted in lower consumer purchasing power and lower new car sales. This decrease in vehicle production and sales had a direct impact on his TPMS market, as TPMS systems are primarily installed on new vehicles during the manufacturing process. Additionally, the pandemic has disrupted global supply chains, causing delays and shortages in the availability of TPMS components and sensors. This has also affected the manufacturing and installation of TPMS systems in vehicles. 

Definition: A tire pressure monitoring system (TPMS) is a safety feature built into a vehicle that monitors tire pressure in real-time. It consists of sensors mounted on each tire that continuously measure tire pressure and send that information to the vehicle's receiving unit. TPMS warns the driver with a warning light or audible signal when tire pressure is below recommended levels, helping to prevent accidents, improve fuel economy and extend tire life.