| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 5 Billion |
| CAGR (2023-2028) | 8% |
| Fastest Growing Segment | Passenger Cars |
| Largest Market | North America |
Market Overview
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Tire Pressure Monitoring System (TPMS) Market has valued at USD 5 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8%.
Market Evolution
This segment gives an overview of the role of the product or services within the market on the basis of market development and competitive standing. It gives a description of the phases of product growth within the market in terms of early (historical) phase, middle phase, and future innovation and technologies.
Porter's Analysis
Porter's five forces model is a template for mapping the activities of competitors and the strategic positioning of a player within the respective industry. This section compares the various exteal factors that will affect competitive position in the next few years. This will be examined through 5 key factors likeCompetitive Rivalry
Threat of New Entry
Threat of Substitution
Supplier Bargaining Power
Buyer Bargaining Power
Value Chain Analysis
Value chain enables companies to watch over their activities and look for competitive chances. This division offers the suppliers to final users analysis via producers and middlemen of a certain commodity or good. This will assist the company's business activity in seeing where the company may develop a competitive edge for the company.
Pricing Analysis
This section offers analysis on past and future price trends of the product which assists in setting the price of the product and/or services suitable for companies product life cycle. This section provides qualitative as well as graphical price strategy analysis which assists both businesses and consumers to assess goods
Segmental Insights
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Tire Pressure Monitoring System Market Segment Analysis
The LCV category includes a range of vehicles from vans to light trucks. Under this category, TPMS plays an essential function in facilitating safe transportation of people and products. The regulatory rules focusing on safety and efficiency in operations influence the use of TPMS in LCVs and make it part of the whole vehicle safety package. The LCV segment market share in the TPMS industry indicates the focus on safety and compliance. HCVs, such as trucks and buses, cover extensive distances, and tire pressure upkeep is critical in maintaining fuel efficiency and safety. The HCV segment is a huge opportunity for the adoption of TPMS, especially as fleet operators look for technologies to optimize performance, save fuel, and improve general safety in large-scale operations. The growth of TPMS market's regional segment in HCVs complements the growth in demand for safety solutions in the commercial transportation industry. TPMS adoption in passenger cars is driven by both safety rules and increased consumer consciousness. Intent on improving road safety and minimizing accidents, TPMS in passenger cars offers drivers real-time tire pressure data, thereby ensuring improved driving conditions and overall safety standards. The analysis of the passenger vehicle segment emphasizes the crucial function of TPMS in boosting safety in a wide range of private and commercial automobiles.
By Type Insights
By Applicartiuon
1. Bartec USA LLC
2. Bendix Commercial Vehicles Systems LLC
3. Delphi Automotive LLP
4. General Electric
Europe
1. Alligator Gmbh
2. Continental AG
3. DUNLOP TECH GmbH
4. Huf Hulsbeck & Furst GmbH & Co. KG
5. NIRA Dynamics AB
6. Pacific Industrial
7. Schrader Electronics
8. Sensata Technologies Inc.
9. TRW Automotive
10. ZF Friedrichshafen
Asia Pacific
1. Denso Corporation
2. HAMATON AUTOMOTIVE TECHNOLOGY CO., LTD.
3. NXP Semiconductors
4. WABCO
Vehicle Type Insights
The global Tire Pressure Monitoring System (TPMS) market has seen a significant surge, primarily driven by the growing emphasis on safety and increased awareness about tire maintenance among vehicle owners. The market can be segmented based on vehicle types, including passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Passenger vehicles make up a major portion of the TPMS market. This can be attributed to the soaring production and sales of passenger cars globally, coupled with the fact that stringent safety regulations in various countries mandate the installation of TPMS in new passenger vehicles. The introduction of advanced features such as smartphone integration is also aiding the adoption of TPMS in this segment. Light commercial vehicles, on the other hand, are anticipated to register substantial growth over the next few years. The constant demand for these vehicles in parcel and courier services, along with the increasing emphasis on fleet management, is expected to propel the TPMS market in this segment. Furthermore, the trend of equipping these vehicles with advanced safety systems for better fleet efficiency is driving the demand for TPMS in light commercial vehicles. Heavy commercial vehicles, meanwhile, are seeing steady demand for TPMS. These vehicles are typically used for long-haul transport and therefore put more strain on tires, making TPMS an essential component for maintaining tire health and ensuring overall vehicle safety. In addition, the growing trend of digitization in the transportation sector is likely to further boost the adoption of TPMS in heavy commercial vehicles.
Regional Insights
Recent Developments
- In 2022, Continental has launched its advancedcombine-tire monitoring system for their CombineMaster and CombineMaster VFtires.
- In 2022, Fleeca India Private Limited which is anIndia based startup, has launched the India’s first AI-Driven smart trucktire-pressure monitoring system.
Key Market Players
- DelphiAutomotive
- DENSOCorporation
- ContinentalAG
- ZF TRW
- ValorTPMS
- PacificIndustrial
- SchraderElectronics
- HellaKGaA Hueck & Co.
- Valeo
- ALLIGATORVentilfabrik GmbH
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