Automotive Tire Pressure Monitoring SystemMarket Overview 2025–2034: CAGR Trends, Long-Term Growth Paths, and Business Implications
Discover trends, market shifts, and competitive outlooks for the automotive tire pressure monitoring system industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What Are the Projected Market Size and Growth Rates for the Automotive Tire Pressure Monitoring System Market From 2025 To 2029?
The market for automotive tire pressure monitoring systems has witnessed significant expansion in the past few years. It is projected to escalate from a valuation of $9.59 billion in 2024 to an impressive $11.06 billion in 2025, reflecting a robust compound annual growth rate (CAGR) of 15.3%. The surge during the historical span was propelled by factors such as rising automotive production and sales, flourishing automotive aftermarket, heightened safety and security needs, and the broadening scope of globalization and international commerce.
The market size for automotive tire pressure monitoring systems is set to experience fast expansion in the forthcoming years, escalating to $19.56 billion in 2029 with a compound annual growth rate (CAGR) of 15.3%. The anticipated growth during this forecast period can be linked to factors such as vehicle electrification, autonomous vehicle innovations, stricter government rules, the expansion of the connected car ecosystem, and increased disposable income. Key trends for this foreseeable period include advanced sensor technology, connected tpms, predictive maintenance, integration with smartphones, data analysis, and artificial intelligence.
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What Are the Primary Drivers Supporting the Market Growth of the Automotive Tire Pressure Monitoring System Market?
The escalating rate of accidents has been predicted to fuel the expansion of the automotive tire pressure monitoring systems market in the upcoming years. Crashes are unexpected and undesirable incidents that often result in injuries or loss of life. These unfortunate events and resulting fatalities on the road have led regulatory bodies to enforce the use of tire pressure monitoring systems in vehicles, which in turn boosts the manufacturing of these systems. For example, the National Safety Council, a non-profit public service organization based in the U.S, reported an estimated 3,820 motor vehicle deaths in July 2024, marking a minor increase from the 3,780 deaths documented in June 2023. Consequently, the increasing occurrence of accidents and resulting road fatalities is propelling the advancement of the automotive tire pressure monitoring systems market.
Which Primary Segments of the Automotive Tire Pressure Monitoring System Market Are Driving Growth and Industry Transformations?
The automotive tire pressure monitoring system market covered in this report is segmented –
1) By Type: Direct TPMS, Indirect TPMS
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
3) By Sales Channel Type: OEM, After market
Subsegments:
1) By Direct TPMS: Battery-Powered Direct TPMS, Solar-Powered Direct TPMS, Multi-Channel Direct TPMS
2) By Indirect TPMS: ABS-Based Indirect TPMS, Wheel Speed Sensor-Based Indirect TPMS
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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of the Automotive Tire Pressure Monitoring System Market?# 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.
What Are the Most Significant Market Trends in the Automotive Tire Pressure Monitoring System Market?
The most noticeable emerging trend in the automotive tire pressure monitoring systems market is the advent of technological innovations. Key players in the industry are centering their efforts on research and new product development by employing cutting-edge technology to stimulate market growth. A case in point is Sensata Technologies, an American producer of sensors, electrical protection, control, and power management solutions. In June 2022, the company pioneered the Intelligent Tire Pressure Monitoring System (TPMS), fused with Bluetooth low energy wireless technology, to amplify vehicle safety and performance. The novel system substitutes the conventional ultra-high frequency (UHF) radio with Bluetooth, enabling two-way communication. The system bolsters the convenience of Over-the-Air updates which bypasses the need for drivers to visit a service centre, alongside boosting cybersecurity precautions.
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What Parameters Are Used to Define the Automotive Tire Pressure Monitoring System Market?
The automotive tire pressure monitoring system (TPMS) is an electronic system that monitors the tire’s internal air pressure and gives real-time data on tire pressure. It also helps to warn the driver about the underinflated tires. These are used to monitor the pressure of tires in vehicles using pressure sensors.
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