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Technological Advancements Elevate The Automotive Tire Pressure Monitoring Systems Market Industry Trends Gaining Momentum in the Global Automotive Tire Pressure Monitoring System Market
Automotive Tire Pressure Monitoring System Market
Automotive Tire Pressure Monitoring System Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over recent years, the market size for the automotive tire pressure monitoring system has seen substantial growth. Its progression from $9.59 billion in 2024 to $11.06 billion in 2025, with a 15.3% compound annual growth rate (CAGR), illustrates this. Factors contributing to the growth experienced in the previous period include surges in automotive production and sales, the growth of the automotive aftermarket, heightened safety and security demands, as well as globalization and international trade.
Automotive Tire Pressure Monitoring System Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for a swift expansion of the automotive tire pressure monitoring system market in the coming years. With a compound annual growth rate of 15.3%, the market size is projected to reach $19.56 billion by 2029. Various factors such as the electrification of vehicles, advancement in autonomous vehicle technology, rigorous government regulations, the expansion of the connected car ecosystem, and increasing disposable income are seen as major contributors to this projected growth. Key industry trends to look out for in the forecast period include the use of advanced sensor technology, connected TPMS, predictive maintenance, smartphone integration, data analytics, and AI.
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What Are the Drivers Transforming the Automotive Tire Pressure Monitoring System Market?
The surge in accident rates is anticipated to fuel the expansion of the automotive tire pressure monitoring systems market in the forthcoming years. These accidents, characterized by their sudden, undesirable nature often leading to injuries or loss of life, have resulted in road fatalities, compelling authorities to enforce the use of tire pressure monitoring systems in vehicles. This in turn has spurred the manufacturing of automotive tire pressure monitoring systems. To illustrate, data from the National Safety Council, a non-profit public service organisation in the US, reported in July 2024 that there were around 3,820 motor vehicle deaths in June 2024, a slight rise from the 3,780 deaths in June 2023. Thus, the increasing accident rates and related road fatalities are propelling the automotive tire pressure monitoring systems market's growth.
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What Long-Term Trends Will Define the Future of the Automotive Tire Pressure Monitoring System Market?
In the automotive tire pressure monitoring systems market, key trends are emerging from technological advancements. Major players in the automotive TPMS segment are investing in research and novel product innovation, integrating cutting-edge technologies for market expansion. For example, Sensata Technologies, an American firm known for its sensing, electrical protection, control, and power management solutions, developed the Intelligent Tire Pressure Monitoring System (TPMS) in June 2022. This system uses Bluetooth low energy wireless technology instead of traditional ultra-high frequency (UHF) radio for superior vehicle safety and functionality, enabling two-way communication. The system is Over-the-Air update compatible, allowing drivers to receive updates without visiting a service centre and provides enhanced cybersecurity protections.
Which Segments in the Automotive Tire Pressure Monitoring System Market Offer the Most Profit Potential?
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 Firms Dominate the Automotive Tire Pressure Monitoring System Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential 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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