The Global Tire Pressure Monitoring Systems Market size was valued at around USD 6.59 billion in 2024 and is projected to reach USD 11.25 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9.32% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Global Tire Pressure Monitoring Systems Market Driver:
Rising Installation of Accident Preventive Safety Systems – The continuous occurrence of automobile accidents has urged manufacturers, and consumers to adapt and improve the safety features in the vehicle to prevent damage and causality by focusing on the improvement of automotive vehicles with the installation of new safety features. This has resulted in continuous research and development into the issue and coming up with more minor, complementing designs and systems, leading to the higher installation of such sensor systems, thereby driving the industry. As a solution, TMPS provides safety by improving vehicle handling, decreasing tire wear, reducing braking distance, and better fuel economy. In addition, the concerns over the higher number of accidents occurring due to tire failures have accelerated the market growth.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Tire Pressure Monitoring Systems Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Technology
- Direct Tire Pressure Monitoring System
- Indirect Tire Pressure Monitoring System
- By Sales Channel
- OEMs
- Aftermarket
- By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- By Region
- North America
- South America
- Europe
- Middle East
- Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Continental AG, Denso corporation, Delphi Automotive, Sensata Technologies, Dunlop Tech Gbmh, Wabco, Bendix Commercial Vehicle systems LLC, Schrader Electronics, Pacific Industrial Co., Ltd., Huf and Hlsbeck & Frst Gmbh & Co., and others are looking forward to strengthening their market positions.
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Global Tire Pressure Monitoring Systems Industry Recent Development:
2024: Continental AG expanded its Tire Pressure Monitoring System production capacity in India, doubling its capacity at Banglore plant. This expansion includes a second-generation TPMS, which enhances safety and sustainability by transmitting tire pressure, temperature, and motion data. The initiative aligns with Continental’s Vision Zero commitment for safer mobility, aiming to improve vehicle safety and efficiency.
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