Global Tire Pressure Monitoring System (TPMS) Market Growth 2023-2029

Global Tire Pressure Monitoring System (TPMS) Market Growth 2023-2029

TPMS is an electronic system, designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. TPMS warns the driver about the number of underinflated tires. TPMS is classified into two categories: direct TPMS and indirect TPMS. Direct TPMS provides real-time information of the tire pressure using pressure monitoring sensors in the tires. As a result, automotive manufacturers are shifting their focus on the usage of direct TPMS sensors to improve the safety of the consumers.

LPI (LP Information)' newest research report, the “Tire Pressure Monitoring System (TPMS) Industry Forecast” looks at past sales and reviews total world Tire Pressure Monitoring System (TPMS) sales in 2022, providing a comprehensive analysis by region and market sector of projected Tire Pressure Monitoring System (TPMS) sales for 2023 through 2029. With Tire Pressure Monitoring System (TPMS) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Tire Pressure Monitoring System (TPMS) industry.

This Insight Report provides a comprehensive analysis of the global Tire Pressure Monitoring System (TPMS) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Tire Pressure Monitoring System (TPMS) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Tire Pressure Monitoring System (TPMS) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Tire Pressure Monitoring System (TPMS) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Tire Pressure Monitoring System (TPMS).

The global Tire Pressure Monitoring System (TPMS) market size is projected to grow from US$ 14030 million in 2022 to US$ 22660 million in 2029; it is expected to grow at a CAGR of 22660 from 2023 to 2029.

The main factors driving the demand for automotive TPMS are strict safety norms, increasing health and safety awareness among consumers, technology advancement and high disposable income. Agencies such as New Car Assessment Program (NCAP) are also encouraging manufacturers by awarding safety ratings to cars based on safety performance. Growth in automotive safety systems market such as TPMS is largely driven by strict legislation and norms related to safety. Safety systems such as TPMS is obligatory in developed countries, while legislation in developing countries are creating higher growth opportunities.Although the overall automotive active safety systems market is growing significantly, challenges such as lack of standardization and high prices of TPMS is hindering the growth for TPMS market.Test conducted by one of the leading tire and rubber company have shown that almost 15% under-inflation tires can result an 8% drop in expected tire life and 2.5% decrease in fuel efficiency.

This report presents a comprehensive overview, market shares, and growth opportunities of Tire Pressure Monitoring System (TPMS) market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Direct TPMS
Indirect TPMS

Segmentation by application
Passenger Cars
Commercial Vehicles

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Schrader
Pacific Industrial
Lear
Visteon
Denso
Huf Hülsbeck & Fürst
ACDelco
Sate Auto Electronic
Kysonix
Foryou Corp

Key Questions Addressed in this Report

What is the 10-year outlook for the global Tire Pressure Monitoring System (TPMS) market?

What factors are driving Tire Pressure Monitoring System (TPMS) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Tire Pressure Monitoring System (TPMS) market opportunities vary by end market size?

How does Tire Pressure Monitoring System (TPMS) break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.