Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Definition

Automotive tire pressure monitoring system (TPMS) is an electronic system that is used to observe tire pressure of vehicle by employing sensors through the wheel speed sensors of ABS/ESC systems. TPMS system is battery-operated with lifespan of 6-10 years. On the basis of product type, the market is segmented into direct TMPS and indirect TMPS. On the basis of vehicle type, the market is segmented into passenger cars, LCV, and HCV. Furthermore, on the basis of sales channel, the market is segmented into OEM and aftermarket. The market is expected to witness significant growth in the near future, owing to growing number of commercial as well as passenger vehicles.

The global Automotive Tire Pressure Monitoring System (TPMS) Market is estimated to account for US$ 9,335.4 Mn in terms of value by the end of 2019.

Market Dynamics- Drivers

  1. Growing integration of automotive safety systems is expected to drive the global automotive tire pressure monitoring system (TPMS) market growth during the forecast period

Governments across various countries have started enforcing stringent safety regulations, which has mandated the integration of advanced vehicle safety systems such as TPMS, anti-lock braking system (ABS), and lane departure warning system. This has become essential to reduce increasing incidence of accidents. According to the National Motor Vehicle Crash Causation Survey (NMVCCS)’s study, tires that are underinflated by 25% are three times likely to be involved in accidents than vehicles with accurate tire pressure. Moreover, TPMS helps to minimize these incidences by notifying driver about the low pressure in the tires. This, in turn, is expected to drive the market growth in the near future.

  1. Improved fuel economy and property damage savings are expected to propel growth of the global automotive tire pressure monitoring system (TPMS) market over the forecast period

According to a study conducted by National Highway Traffic Safety Administration (NHTSA), underinflated tires consumer more fuel than properly inflated tires, i.e. 2 psi decrease in all four tire leads to 1-2% decrease in fuel economy of the vehicle. According to the same source, the use of tire pressure monitoring systems provides enhanced fuel economy of US$ 19.07-US$ 23.08 per vehicle over its lifetime. Moreover, TPMS can possibly save property damage associated with road accidents, which in turn, is expected to boost the market growth over the forecast period.

North America region dominated the global Automotive Tire Pressure Monitoring System (TPMS) Market in 2019, accounting for 39.9% share in terms of value, followed by Europe and Asia Pacific, respectively

Automotive Tire Pressure Monitoring System  | Coherent Market Insights

Source: Coherent Market Insights

Market Dynamics- Restraints

  1. Tracking of vehicle due to TPMS signal is expected to restrain growth of the global automotive tire pressure monitoring system (TPMS) market during the forecast period

Tire pressure monitoring sensors are attached to car tires, where they measure real-time pressure in tires. These sensors transmit signals to a receiver, which processes the information and flashes warning light on detecting low tire pressure. Each TPMS sends out a unique signal, which can potentially be detected by a directional antenna from a distance. This, in turn, is expected to hinder the market growth over the forecast period.

  1. Imprecise results of indirect TPMS is expected to hamper the global automotive tire pressure monitoring system (TPMS) market over the forecast period

Indirect TPMS computes tire inflation using ABS/ESC sensors and does not employ pressure sensors for pressure monitoring. It basically follows the principal that under-inflated tires have a slightly smaller diameter when compared to properly inflated tires. Moreover, algorithms used in computation of tire inflation in indirect TPMS are sensitive to other external factors such as road condition and driving speed. This, in turn, leads to inaccurate results and thereby hinders the market growth over the forecast period.

Market Opportunities

  1. Emerging markets across the globe for TPMS are expected to pose lucrative business opportunities

Apart from developed countries such as the U.S., TPMS installation has become mandatory in passenger cars in the EU region and South Korea. Moreover, emerging economies such as China and India are the largest automakers along with Indonesia, Malaysia, Philippines, Turkey, and Russia are expected to enforce similar regulatory policies, mandating integration of TPMS in passenger cars. Automotive production in these countries is expected to increase significantly in the near future, which in turn, is expected to offer lucrative growth opportunities for market players. Currently, TPMS is available in luxury and premium vehicle segment thus, market remains scarcely penetrated, thereby providing market opportunities.

  1. Strategic mergers and acquisitions among market players to pose major opportunities

Key companies in the market are focused on mergers and acquisitions, in order to enhance their market presence. For instance, in 2015, ZF Friedrichshafen AG acquired TRW Automotive; after acquisition ZF TRW was integrated within the Active & Passive Safety Technology Division that manufactures TPMS, among other products.

Automotive Tire Pressure Monitoring System  | Coherent Market Insights

Source: Coherent Market Insights

Segment Information:

In global Automotive Tire Pressure Monitoring System (TPMS) Market, the passenger car sub-segment is estimated to be the largest market in 2019, accounting for 79.9% share in terms of value and is expected to dominate throughout the forecast period.

Automotive Tire Pressure Monitoring System  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Focus of key players on aftermarket business

Key players are focused on expanding their aftermarket business. Growing awareness regarding TPMS as an advanced safety technology and rising integration of automotive safety system are expected to boost the aftermarket TPMS sales during the forecast period. Moreover, TPMS sales through aftermarket sales channel are expected to outperform OEM sales in the near future. Key companies in the market are focused on selling their products through aftermarket distribution channel, in order to capitalize lucrative growth opportunities. For instance, in 2014, Denso Corporation commenced its Tire Pressure Monitoring System (TPMS) sensor program, in order to support aftermarket customers’ demands.

  1. Growing focus on technological innovation

Key players in the market are involved in product differentiation through innovation in size, design, and battery life and even battery-less TPMS. Micro electro mechanical systems (MEMS) and SAW (surface acoustic wave) sensors are some of the advanced technologies used by key players. Furthermore, key companies in the market are launching new product series with integration of advanced technologies. For instance, in July 2015, Bartec introduced new TPMS tools, Tech400Pro, a wireless TPMS scan tool covers features such as wireless data transfer via Bluetooth, wireless charging, wireless updating via Wi-Fi), and keyless entry testing—and Tech300Pro—an activation tool that works with multi-protocol sensors, OE TPMS sensors and can also be programed to work with aftermarket sensors.

Regulations

U.S.

  • Implementation of the TREAD act in 2000, following various accidents leading to numerous fatalities and the subsequent Firestone Recall, mandates use of TPMS in vehicles of 2004 model year. These include all passenger vehicles and light trucks with GWVR of 10,000 lbs. and less.

Competitive Section

Key players operating in the global automotive tire pressure monitoring system (TPMS) market are ZF Friedrichshafen AG, ATEQ, Continental AG, Bartec USA LLC, Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, AUTOMOTIVE TECHNOLOGY CO., LTD., Rivigo Services, Denso Corporation, DUNLOP TECH GmbH, Pacific Industrial Co., Ltd., Bendix Commercial Vehicles Systems LLC, NXP Semiconductors, NIRA Dynamics AB, WABCO, and HAMATON AUTOMOTIVE TECHNOLOGY CO., LTD.

Key Developments

  1. Major companies in the market are involved in participating in events and conferences, in order to enhance their market presence. For instance, in July 2019, ZF Friedrichshafen AG presented next-generation mobility solutions at IAA 2019.
  2. Key players in the market are focused on partnerships and collaborations, in order to gain competitive advantage in the market. For instance, in August 2019, Rivigo Services partnered with JK Tyre to launch TPMS in commercial vehicles in India.

Automotive tire pressure monitoring system (TPMS) is a system used for monitoring and measurement tire pressure of vehicles by using pressure sensors or with the help of wheel speed sensors such as ESC and ABS system.

The increasing government initiatives towards road safety is compelling OEMs to come up with advanced systems such as Autonomous Emergency Braking (AEB), Lane Departure Warning (LDW), Tire Pressure Monitoring System (TPMS), and Blind Spot Detection (BSD) in their product portfolio. For instance, according to the TREAD Act, as of November 1, 2012, the European Union mandated TPMS in every passenger car models. In April 2008, NHTSA mandated the use of TPMS system in all newly manufactured or imported U.S. cars. Such regulations boosted growth of the automotive tire pressure monitoring system (TPMS) market. Moreover, aftermarket sales are expected to emerge as major sales channels for TPMS. According to a study conducted by National Highway Traffic Safety Administration (NHTSA), underinflated tires consumer more fuel than properly inflated tires, i.e. 2 psi decrease in all four tire leads to 1-2% decrease in fuel economy of the vehicle. According to the same source, the use of tire pressure monitoring systems provides enhanced fuel economy of US$ 19.07-US$ 23.08 per vehicle over its lifetime. Owing to this the large fleet owners are adopting this systems for their vehicles in aftermarket which is expected to boost the demand for automotive tire pressure monitoring system (TPMS) in near future.

Market Taxonomy

This report segments the global Automotive Tire Pressure Monitoring System (TPMS) Market on the basis of product type, vehicle type, sales channel and region. On the basis of product type, the market is segmented into direct TPMS and indirect TPMS. On the basis of vehicle type, the market is segmented into passenger cars, LCV, and HCV. On the basis of sales channel, the market is segmented into OEM and aftermarket. For a comprehensive understanding of market dynamics, the market is analyzed across key geographical regions, namely, North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Each of these regions is analyzed on the basis of market findings across major countries in these regions, for a macro-level understanding of the market.

Key features of the study:

  • This report provides an in-depth analysis of the global Automotive Tire Pressure Monitoring System (TPMS) Market with market size (US$ Million) and CAGR (%) over the forecast period: 2019 – 2027, considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
  • It profiles leading players in the global Automotive Tire Pressure Monitoring System (TPMS) Market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
  • Key companies covered as part of this study include ZF Friedrichshafen AG, ATEQ, Continental AG, Bartec USA LLC, Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, AUTOMOTIVE TECHNOLOGY CO., LTD., Rivigo Services, Denso Corporation, DUNLOP TECH GmbH, Pacific Industrial Co., Ltd., Bendix Commercial Vehicles Systems LLC, NXP Semiconductors, NIRA Dynamics AB, WABCO, and HAMATON AUTOMOTIVE TECHNOLOGY CO., LTD among others.
  • Insights from this report will allow marketers and management authorities of companies to make informed decisions with respect to future product launches, technology upgrades, market expansion, and marketing tactics
  • Various strategy matrices used in analyzing the global Automotive Tire Pressure Monitoring System (TPMS) Market would provide stakeholders vital inputs to make strategic decisions accordingly

Detailed Segmentation:

  • Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Product Type:
    • Direct TPMS
    • Indirect TPMS
  • Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Vehicle Type:
    • Passenger Car
    • LCV
    • HCV
  • Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Sales Channel:
    • OEM
    • Aftermarket
  • Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
      • By Segmentation
        • By Product Type:
          • Direct TPMS
          • Indirect TPMS
        • By Vehicle Type:
          • Passenger Car
          • LCV
          • HCV
        • By Sales Channel:
          • OEM
          • Aftermarket
    • Europe
      • By Country
        • Germany
        • Italy
        • U.K.
        • France
        • Spain
        • Russia
        • Rest of Europe
        • By Product Type:
          • Direct TPMS
          • Indirect TPMS
        • By Vehicle Type:
          • Passenger Car
          • LCV
          • HCV
        • By Sales Channel:
          • OEM
          • Aftermarket
    • Asia Pacific
      • By Country
        • China
        • Japan
        • Australia
        • India
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Segmentation
        • By Product Type:
          • Direct TPMS
          • Indirect TPMS
        • By Vehicle Type:
          • Passenger Car
          • LCV
          • HCV
        • By Sales Channel:
          • OEM
          • Aftermarket
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Segmentation
        • By Product Type:
          • Direct TPMS
          • Indirect TPMS
        • By Vehicle Type:
          • Passenger Car
          • LCV
          • HCV
        • By Sales Channel:
          • OEM
          • Aftermarket
    • Middle East and Africa
      • By Country
        • GCC Countries
        • Israel
        • South Africa
        • Rest of Middle East and Africa
      • By Segmentation
        • By Product Type:
          • Direct TPMS
          • Indirect TPMS
        • By Vehicle Type:
          • Passenger Car
          • LCV
          • HCV
        • By Sales Channel:
          • OEM
          • Aftermarket
  • Company Profiles
      • ZF Friedrichshafen AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • ATEQ
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Continental AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Bartec USA LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Sensata Technologies, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Huf Hülsbeck & Fürst GmbH & Co. KG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • AUTOMOTIVE TECHNOLOGY CO., LTD.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Rivigo Services
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Denso Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • DUNLOP TECH GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Pacific Industrial Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Bendix Commercial Vehicles Systems LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • NXP Semiconductors
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • NIRA Dynamics AB
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • WABCO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • HAMATON AUTOMOTIVE TECHNOLOGY CO., LTD.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates

*Browse all the market data tables and figures on “Global Automotive Tire Pressure Monitoring System (TPMS) Market - forecast to 2027”.

Table of Content

  1. Research Objective and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Product Type
      • Market Snippet By Vehicle Type
      • Market Snippet By Sales Channel
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New Product Approvals/Launch
  4. Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Product Type, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Direct TPMS
      • Introduction
      • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • Indirect TPMS
      • Introduction
      • Market Size and Forecast, 2019 - 2027, (US$ Million)
  5. Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Vehicle Type, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Passenger Car
      • Introduction
      • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • LCV
      • Introduction
      • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • HCV
      • Introduction
      • Market Size and Forecast, 2019 - 2027, (US$ Million)
  6. Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Sales Channel, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • OEM
      • Introduction
      • Market Size and Forecast, 2019 - 2027, (US$ Million)
    • Aftermarket
      • Introduction
      • Market Size and Forecast, 2019 - 2027, (US$ Million)
  7. Global Automotive Tire Pressure Monitoring System (TPMS) Market, By Regions, 2017 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America           
      • Introduction
        • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Product Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
      • By Country
        • U.S.
        • Canada
    • Europe
      • Introduction
        • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Product Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
      • By Country
        • Germany
        • Italy
        • U.K.
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
        • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Product Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
      • By Country
        • China
        • Japan
        • Australia
        • India
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
        • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Product Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East and Africa
      • Introduction
        • Market size and Forecast, 2019 - 2027 (US$ Million)
      • By Segment
        • Market Size and Forecast, By Product Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Vehicle Type, 2019 - 2027 (US$ Million)
        • Market Size and Forecast, By Sales Channel, 2019 - 2027 (US$ Million)
      • By Country
        • GCC Countries
        • Israel
        • South Africa
        • Rest of Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • ZF Friedrichshafen AG *
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • ATEQ
      • Continental AG
      • Bartec USA LLC
      • Sensata Technologies, Inc.
      • Huf Hülsbeck & Fürst GmbH & Co. KG
      • AUTOMOTIVE TECHNOLOGY CO., LTD.
      • Rivigo Services
      • Denso Corporation
      • DUNLOP TECH GmbH
      • Pacific Industrial Co., Ltd.
      • Bendix Commercial Vehicles Systems LLC
      • NXP Semiconductors
      • NIRA Dynamics AB
      • WABCO
      • HAMATON AUTOMOTIVE TECHNOLOGY CO., LTD.
    • Analyst Views
  9. Section
    • Available Customizations
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse all the market data tables and figures on “Global Automotive Tire Pressure Monitoring System (TPMS) Market - forecast to 2027”.

Frequently Asked Questions

The global automotive tire pressure monitoring system (TPMS) market is estimated to account for US$ 9,335.4 Mn, in terms of value by the end of 2019.
Major players operating in the global automotive tire pressure monitoring system (TPMS) market include ZF Friedrichshafen AG, ATEQ, Continental AG, Bartec USA LLC, Sensata Technologies, Inc., Huf Hülsbeck & Fürst GmbH & Co. KG, AUTOMOTIVE TECHNOLOGY CO., LTD., Rivigo Services, Denso Corporation, DUNLOP TECH GmbH, Pacific Industrial Co., Ltd., Bendix Commercial Vehicles Systems LLC, NXP Semiconductors, NIRA Dynamics AB, WABCO, and Hamaton Automotive Technology CO., LTD.
Tracking of vehicle due to TPMS signal, coupled with imprecise results of indirect TPMS are some of the major factors that are expected to hamper growth of the market over the forecast period.
Growing integration of automotive safety systems is one of the major factors that is expected to propel growth of the market over the forecast period.
The global automotive tire pressure monitoring system (TPMS) market is estimated to exhibit a CAGR of 6.7% over the forecast period (2019-2027).
Among regions, North America is expected to hold dominant position in the global automotive tire pressure monitoring system (TPMS) market in 2019 accounting for 39.9% share, in terms of value, followed by Europe and Asia Pacific respectively.
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