Market Overview:
The global tire pressure management systems (TPMS) market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The TPMS market is segmented on the basis of type, application, and region. On the basis of type, the TPMS market is segmented into direct TPMS and indirect TPMS. Direct TPMS are further sub-segmented into standalone direct TPMS and integrated direct TPMs. Indirect TPMS are further sub-segmented into passive indirect TMPS and active indirect TMPS. On the basis of application, the passenger car segment accounts for majority share in terms of revenue in 2017; however, light commercial vehicle (LCV) is expected to grow at highest CAGR during forecast period owing to increase in demand for LCVs across globe.
Product Definition:
Tire pressure management systems are used to monitor and adjust the air pressure in tires. The importance of tire pressure management systems is that they help maintain the correct air pressure in tires, which improves fuel economy, extends tire life, and improves vehicle handling.
Direct TPMS:
Direct TPMS is a system that measures the tire pressure directly without using valves or sensors. It uses wheel speed as an indirect indicator of tire inflation and it's more accurate than conventional systems.
The Direct TPMS Market is expected to grow at a CAGR of XX% from 2016 to 2024, owing to factors such as increasing demand for automobiles across the globe, technological advancements in automotive industry and government initiatives towards road safety & maintenance of vehicle fleet.
Indirect TPMS:
Indirect Tire Pressure Monitoring (ITPM) system is a method of monitoring tire pressure without the use of valves or sensors mounted on tires. The system works by measuring the rolling resistance and losses that occur during the process of driving and applying pressure to tires. It also measures variations in temperature, which affects tire performance.
The global indirect TPMS market size was valued at USD 1,074 million in 2015.
Application Insights:
Passenger car tires accounted for the largest share of over 60.0% in 2017 and are expected to continue leading throughout the forecast period. The growing importance of passenger cars on account of increasing disposable income levels coupled with rising consumer preference for higher performance vehicles is anticipated to drive demand over the coming years.
The light commercial vehicle (LCV) segment is estimated to expand at a CAGR of XX% from 2018 to 2030 owing to increased industrialization, particularly in developing regions such as Asia Pacific and Latin America, which has led manufacturers focusing on LCVs as they offer better maneuverability and handling ability due to their lighter weight compared with heavy commercial vehicles (HCVs). This trend is expected further accelerate growth through 2030 across all regional markets combined.
Regional Analysis:
North America dominated the global market in terms of revenue share in 2017. The region is expected to maintain its dominance over the forecast period as well owing to increasing demand for TPMS from various segments, such as passenger cars and LCVs/HCVs. Europe accounted for a significant share of the overall industry revenue due to growing adoption of TPMS-enabled vehicles across major countries, such as Germany and Italy. Asia Pacific is projected to be one of the fastest-growing regional markets during the forecast period on account rising disposable income levels and improving economic conditions in emerging countries, including China and India.
The tire pressure monitoring system alerts drivers when there is a need to replace tires or when they are underinflated by 15%.
Growth Factors:
- Increasing demand for fuel-efficient vehicles: The global market for fuel-efficient vehicles is expected to grow at a CAGR of more than 7% during the forecast period. This is owing to the increasing environmental concerns and stringent emission norms across the world. TPMS helps in improving fuel efficiency by providing real-time information about tire pressure and temperature, which helps in optimizing driving behavior.
- Stringent safety regulations: Stringent safety regulations pertaining to vehicle tires are expected to drive the growth of the TPMS market during the forecast period. For instance, In March 2014, National Highway Traffic Safety Administration (NHTSA) proposed a rule that would require all new passenger cars and light trucks be equipped with TPMS from September 2020 onwards.
- Rising demand for luxury cars: The global luxury car market is growing at a rapid pace and is projected to reach USD 302 billion by 2020*. This presents an opportunity for players in the TPMS market as these cars are typically equipped with advanced features such as TPMS systems. Moreover, OEMs are offering value-added services such as pre-tire inflation checks, post-tire installation checks etc., which is further fueling demand for TPMS systems across different vehicle segments..
Scope Of The Report
Report Attributes
Report Details
Report Title
Tire Pressure Management Systems Market Research Report
By Type
Direct TPMS, Indirect TPMS
By Application
Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
By Companies
Schrader (Sensata), Continental, TRW (ZF), Lear, Visteon, Pacific Industrial, Denso, ACDelco, Mahindra & Mahindra Limited, Garmin, Sunrise Instruments
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Tire Pressure Management Systems Market Report Segments:
The global Tire Pressure Management Systems market is segmented on the basis of:
Types
Direct TPMS, Indirect TPMS
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Schrader (Sensata)
- Continental
- TRW (ZF)
- Lear
- Visteon
- Pacific Industrial
- Denso
- ACDelco
- Mahindra & Mahindra Limited
- Garmin
- Sunrise Instruments
Highlights of The Tire Pressure Management Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Direct TPMS
- Indirect TPMS
- By Application:
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tire Pressure Management Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tire pressure management systems are a type of safety technology that helps drivers maintain a safe tire pressure by warning them when the air pressure in their tires is low.
Some of the major players in the tire pressure management systems market are Schrader (Sensata), Continental, TRW (ZF), Lear, Visteon, Pacific Industrial, Denso, ACDelco, Mahindra & Mahindra Limited, Garmin, Sunrise Instruments.
The tire pressure management systems market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Tire Pressure Management Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Tire Pressure Management Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Tire Pressure Management Systems Market - Supply Chain
4.5. Global Tire Pressure Management Systems Market Forecast
4.5.1. Tire Pressure Management Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Tire Pressure Management Systems Market Size (000 Units) and Y-o-Y Growth
4.5.3. Tire Pressure Management Systems Market Absolute $ Opportunity
5. Global Tire Pressure Management Systems Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Tire Pressure Management Systems Market Size and Volume Forecast by Type
5.3.1. Direct TPMS
5.3.2. Indirect TPMS
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Tire Pressure Management Systems Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Tire Pressure Management Systems Market Size and Volume Forecast by Application
6.3.1. Passenger Car
6.3.2. Light Commercial Vehicle (LCV)
6.3.3. Heavy Commercial Vehicle (HCV)
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Tire Pressure Management Systems Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Tire Pressure Management Systems Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Tire Pressure Management Systems Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Tire Pressure Management Systems Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Tire Pressure Management Systems Demand Share Forecast, 2019-2026
9. North America Tire Pressure Management Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Tire Pressure Management Systems Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Tire Pressure Management Systems Market Size and Volume Forecast by Application
9.4.1. Passenger Car
9.4.2. Light Commercial Vehicle (LCV)
9.4.3. Heavy Commercial Vehicle (HCV)
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Tire Pressure Management Systems Market Size and Volume Forecast by Type
9.7.1. Direct TPMS
9.7.2. Indirect TPMS
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Tire Pressure Management Systems Demand Share Forecast, 2019-2026
10. Latin America Tire Pressure Management Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Tire Pressure Management Systems Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Tire Pressure Management Systems Market Size and Volume Forecast by Application
10.4.1. Passenger Car
10.4.2. Light Commercial Vehicle (LCV)
10.4.3. Heavy Commercial Vehicle (HCV)
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Tire Pressure Management Systems Market Size and Volume Forecast by Type
10.7.1. Direct TPMS
10.7.2. Indirect TPMS
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Tire Pressure Management Systems Demand Share Forecast, 2019-2026
11. Europe Tire Pressure Management Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Tire Pressure Management Systems Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Tire Pressure Management Systems Market Size and Volume Forecast by Application
11.4.1. Passenger Car
11.4.2. Light Commercial Vehicle (LCV)
11.4.3. Heavy Commercial Vehicle (HCV)
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Tire Pressure Management Systems Market Size and Volume Forecast by Type
11.7.1. Direct TPMS
11.7.2. Indirect TPMS
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Tire Pressure Management Systems Demand Share, 2019-2026
12. Asia Pacific Tire Pressure Management Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Tire Pressure Management Systems Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Tire Pressure Management Systems Market Size and Volume Forecast by Application
12.4.1. Passenger Car
12.4.2. Light Commercial Vehicle (LCV)
12.4.3. Heavy Commercial Vehicle (HCV)
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Tire Pressure Management Systems Market Size and Volume Forecast by Type
12.7.1. Direct TPMS
12.7.2. Indirect TPMS
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Tire Pressure Management Systems Demand Share, 2019-2026
13. Middle East & Africa Tire Pressure Management Systems Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Tire Pressure Management Systems Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Tire Pressure Management Systems Market Size and Volume Forecast by Application
13.4.1. Passenger Car
13.4.2. Light Commercial Vehicle (LCV)
13.4.3. Heavy Commercial Vehicle (HCV)
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Tire Pressure Management Systems Market Size and Volume Forecast by Type
13.7.1. Direct TPMS
13.7.2. Indirect TPMS
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Tire Pressure Management Systems Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Tire Pressure Management Systems Market: Market Share Analysis
14.2. Tire Pressure Management Systems Distributors and Customers
14.3. Tire Pressure Management Systems Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Schrader (Sensata)
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Continental
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. TRW (ZF)
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Lear
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Visteon
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Pacific Industrial
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Denso
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. ACDelco
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Mahindra & Mahindra Limited
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Garmin
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Sunrise Instruments
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
