Future Outlook of the Automotive Tire Pressure Monitoring System Market: Growth, Trends, and Emerging Opportunities Explored
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What fueled the previous growth in the automotive tire pressure monitoring system market?
The market size of the automotive tire pressure monitoring system has seen rapid expansion lately. It is projected to increase from $9.59 billion in 2024 to $11.06 billion in 2025, reflecting a compound annual growth rate (CAGR) of 15.3%. The ability to meet superior safety and security standards, alongside increased automotive production and sales, the expanding automotive aftermarket, and the rise of globalization and international trade, are significant factors driving the growth during the historic period.
What will be the automotive tire pressure monitoring system market size in the future?
The market size for the automotive tire pressure monitoring system is predicted to experience a swift expansion in the following years, growing to an impressive $19.56 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. Factors contributing to this predicted growth in the forecast period are vehicle electrification, development of autonomous vehicles, strict governmental guidelines, the expandable connected car ecosystem, and a surge in disposable income. Foreseen trends within this growth period include advancements in sensor technology, connected TPMS, anticipatory maintenance, integration with smartphones, and the use of data analytics and AI.
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What main drivers are fueling expansion in the automotive tire pressure monitoring system market?
The market size for the automotive tire pressure monitoring system is predicted to experience a swift expansion in the following years, growing to an impressive $19.56 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. Factors contributing to this predicted growth in the forecast period are vehicle electrification, development of autonomous vehicles, strict governmental guidelines, the expandable connected car ecosystem, and a surge in disposable income. Foreseen trends within this growth period include advancements in sensor technology, connected TPMS, anticipatory maintenance, integration with smartphones, and the use of data analytics and AI.
What key areas define the segmentation of the global automotive tire pressure monitoring system market?
The automotive tire pressure monitoring system market covered in this report is segmented – _x000D_
_x000D_
1) By Type: Direct TPMS, Indirect TPMS _x000D_
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)_x000D_
3) By Sales Channel Type: OEM, After market_x000D_
_x000D_
Subsegments:_x000D_
1) By Direct TPMS: Battery-Powered Direct TPMS, Solar-Powered Direct TPMS, Multi-Channel Direct TPMS _x000D_
2) By Indirect TPMS: ABS-Based Indirect TPMS, Wheel Speed Sensor-Based Indirect TPMS
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Who are the dominant players expanding their reach in the automotive tire pressure monitoring system market?
Major companies operating in the automotive tire pressure monitoring system market include Continental AG, Sensata Technologies Holding plc, Denso Corporation, Pacific Industrial Co. Ltd., NXP Semiconductors N.V., Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, Hamaton Automotive Technology Co. Ltd., ATEQ TPMS, Alligator Ventilfabrik GmbH, ALPS ALPINE CO. LTD, Doran Manufacturing, Bartec USA LLC, Dill Air Controls Products, ZF Friedrichshafen AG, DUNLOP TECH GmbH, Schrader International Inc., WABCO Holdings Inc., ACDelco a General Motors Company, TRW Automotive Inc., Bridgestone Corporation, BorgWarner Inc., HELLA GmbH & Co. KGaA, Lear Corporation, Omron Corporation, Visteon Corporation, Transense Technologies PLC, Xensor Corporation, CUB Elecparts Inc., Sate Auto Electronic Co. Ltd., Shanghai Baolong Automotive Corporation, Paceline Electronics Inc.
How are evolving market trends shaping automotive tire pressure monitoring system Strategies?
Technological progression has become a prominent trend within the automotive tire pressure monitoring systems market. Major corporations in the automotive TPMS realm are concentrating their efforts on research and the innovation of new products using cutting-edge technology to expand their market presence. In June 2022, Sensata Technologies, an American company that provides sensing, electrical protection, control, and power management solutions, launched the Intelligent Tire Pressure Monitoring System (TPMS) integrated with Bluetooth low energy wireless technology aiming to enhance the safety and performance of vehicles. This modern system supersedes the older ultra-high frequency (UHF) radios by employing Bluetooth for bidirectional communication. It supports Over-the-Air updates, permitting drivers to receive updates without needing to visit a service center and ensures superior cybersecurity provisions.
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Which regions are emerging as leaders in the automotive tire pressure monitoring system market?
North America was the largest region in the automotive tire pressure monitoring system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive tire pressure monitoring system market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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