Advanced Tpms Market
Advanced Tpms Market
The market for Advanced Tpms was estimated at $4.57 billion in 2023; it is anticipated to increase to $9.0 billion by 2030, with projections indicating growth to around $14.7 billion by 2035.
Report Summary
Table of Contents
Methodology
Market Data
Global Advanced Tpms Market Outlook
Revenue, 2023 (US$B)
$4.6B
Forecast, 2033 (US$B)
$12.1B
CAGR, 2023 - 2033
10.2%
The Advanced Tpms industry revenue is expected to be around $5.5 billion in 2024 and expected to showcase growth with 10.2% CAGR between 2025 and 2034. <p>Advanced Tire Pressure Monitoring Systems (TPMS) play a role in enhancing vehicle safety and performance by providing continuous monitoring of tire pressure and temperature in real time settings. These cutting edge systems aid in preventing tire blowouts and improving fuel efficiency while also facilitating maintenance for vehicle fleets. The global market for Advanced TPMS was valued at $4.6 billion in 2023 with estimates suggesting a growth rate of 10.2% that could see it reach $9 billion by 2030 and potentially $14.7 billions by 2035.</p><p>In the field of safety and efficiency services, Advanced TPMS assists both single drivers and large fleets by delivering precise up to date information about tire conditions. As a result it has become increasingly popular in areas with road safety rules and, in corporate fleet management where effectiveness is crucial.</p>
Market Key Insights
- The Advanced Tpms market is projected to grow from $4.6 billion in 2023 to $12.1 billion in 2033. This represents a CAGR of 10.2%, reflecting rising demand across Passenger Vehicles, Commercial Vehicles and Heavy-duty Trucks.
- The market leaders in this sector include Continental and Sensata Technologies and Schrader Electronics which determine the competitive dynamics.
- U.S. and Germany are the top markets within the Advanced Tpms market and are expected to observe the growth CAGR of 7.4% to 10.7% between 2023 and 2030.
- Emerging markets including India, Brazil and Turkey are expected to observe highest growth with CAGR ranging between 9.8% to 12.8%.
- The Advanced Tpms market will receive $1.1 billion in additional growth from Transition like Safety Regulations by 2030.
- The Advanced Tpms market is set to add $7.5 billion between 2023 and 2033, with manufacturer targeting Commercial Vehicles & Heavy-duty Trucks Application projected to gain a larger market share.
- With Enhanced safety, and Fuel efficiency, Advanced Tpms market to expand 164% between 2023 and 2033.
Opportunities in the Advanced Tpms
Advanced TPMS offers advantages for heavy duty trucks and off road vehicles such as cost savings in fuel consumption and improved safety measures leading to tire lifespan—a crucial factor in industries, like logistics and mining where vehicle safety and operational effectiveness hold significant importance.
Growth Opportunities in North America and Europe
North America Outlook
<p>The Advanced TPMS market in North America is growing because of safety regulations and the increased need from fleet operators for such systems to ensure safety on the roads and optimize vehicle performance.</p><p>Key players, in this market include Continental and Schrader Electronics who provide solutions tailored for both passenger vehicles and commercial fleets to meet the diverse needs of customers.</p>
Europe Outlook
<p>In Europe Advanced TPMS has been widely embraced, in fleet management and heavy duty sectors. Sensata Technologies and WABCO are the players in this market capitalizing on the EUs focus, on road safety and environmental conservation efforts.</p>
Market Dynamics and Supply Chain
01
Driver: Enhanced Safety, and Predictive Maintenance
Enhanced Tire Pressure Monitoring Systems (TPMS) boost vehicle safety by ensuring the tire pressure to minimize accidents due to underinflation or overinflation of tires while also enhancing braking efficiency and handling for safer driving conditions, on the road. Advanced TPMS provides maintenance features that enable fleet managers and drivers to keep track of tire health and foresee potential problems, in advance. This helps prevent sudden breakdowns and extends the lifespan of tires while also improving the eco friendliness of vehicle operations.<br>Keeping tires properly inflated can also boost vehicle's mileage since low tire pressure leads to increased fuel consumption. Something that can also add up to savings for businesses managing a fleet of vehicles in the long run. A modern Tire Pressure Monitoring System (TPMS) plays a role, in cutting operational expenses by maintaining optimal tire pressure levels and improving fuel efficiency through routine pressure monitoring.
02
Restraint: High Costs
Advanced TPMS implementation comes with a price tag compared to basic TPMS systems which poses a challenge, for budget conscious consumers looking to embrace it; especially in developing markets. The inclusion of sensors and real time monitoring tech bumps up the total cost which may discourage potential buyers.
03
Opportunity: Electric Vehicles and Fleet Management
The emergence of EVs has opened up fresh prospects for Advanced TPMS technology in the automotive industry. Electric vehicles depend greatly on efficiency to enhance their range. They need top notch tire performance to achieve this goal effectively and intelligent TPMS plays a role in keeping the tires in good shape to boost the efficiency and extend the range of electric vehicles. Proving its significance as a key element, in the EV sector.<br>Having a Tire Pressure Monitoring System (TPMS) is crucial for managing fleets because it enables monitoring tire conditions remotely for multiple vehicles simultaneously. Fleet managers gain insights based on data about tire wear & tear as well as pressure & temperature readings. This information is vital for predicting maintenance needs. This can lead to decreased downtime and operational expenses thus improving overall fleet efficiency.
04
Challenge: Complex Installation
Sophisticated tire pressure monitoring systems demand expertise for installation and upkeep. They typically necessitate adjustment and the task of incorporating these systems into current fleet management tools can pose technical difficulties. This intricacy hinders use of such systems in smaller commercial fleets or individual vehicles.
Supply Chain Landscape
1
Raw Material Suppliers
Schrader Electronics
Huf Hulsbeck & Furst
2
Manufacturers
Continental
Sensata Technologies
3
Service Providers
WABCO
PSI (Pressure Systems International)
4
End-User
Automotive
Aerospace
1
Raw Material Suppliers
Schrader Electronics
Huf Hulsbeck & Furst
2
Manufacturers
Continental
Sensata Technologies
3
Service Providers
WABCO
PSI (Pressure Systems International)
4
End-User
Automotive
Aerospace
*The illustration highlights the key stakeholders within the supply chain ecosystem.
Applications of Advanced Tpms in Passenger Vehicles, Commercial Vehicles & Heavy-duty Trucks
Passenger Vehicles
<p>Advanced Tire Pressure Monitoring Systems (TPMS) in passenger vehicles play a key role in improving road safety and saving fuel by warning drivers about low tire pressure to prevent accidents due to tire blowouts. Renowned companies like Continental and Schrader Electronics have designed TPMS sensors specifically for passenger vehicles that prioritize accuracy and dependability. Continental has launched cutting edge technologies like in tire sensors and Bluetooth enabled monitoring systems that enable drivers to receive real time updates on their smartphones, for added convenience and peace of mind during their journeys.</p>
Commercial Vehicles
<p>When it comes to commercial vehicles, Advanced TPMS are crucial for managing fleets efficiently by boosting fuel economy and cuts down on tire related delays. WABCO and DENSO offer fledged TPMS solutions for big fleets combining these systems with fleet management tools to give valuable data insights on tire conditions. This helps with maintenance, a key factor in reducing downtime and prolonging tire longevity.</p>
Heavy-duty Trucks
<p>Heavy duty trucks need TPMS solutions because of their high pressure tires and long distances they travel. Sensata Technologies and Huf Hulsbeck & Furst specialize in providing top notch TPMS for trucks that can handle loads and tough conditions. Sensatas advanced TPMS offers real time alerts for tire pressure and temperature monitoring whereas Hufs systems are built to last in such environments making them ideal, for heavy duty truck operations.</p>
Off-road Vehicles
<p>Off road and agricultural vehicles utilize TPMS technology that is specifically built to withstand conditions and meet the needs of demanding tasks. Michelin and PSI (Pressure Systems International) have developed TPMS solutions with designs customized for off road vehicles as well as agricultural machinery and construction equipment. These systems offer real time monitoring capabilities in environments where conventional sensors might struggle to function. They enhance safety and efficiency in industries that depend on, off road performance.</p>
Recent Developments
October 2023
<p><strong>Continental</strong> introduced an upgraded Advanced TPMS with real time data analytics to enhance safety and efficiency.</p>
July 2023
<p><strong>Sensata Technologies</strong> expanded its TPMS product line, introducing solutions specifically tailored for heavy-duty trucks and commercial vehicles</p>
May 2023
<p><strong>WABCO</strong> introduced an all in one fleet management system that features Advanced TPMS and offers detailed data analysis.</p>
Continental and WABCO are leading the way in the Advanced TPMS market, with their data analytics progress and reliable solutions tailored for heavy duty use cases. They are catering to the requirements of both individual vehicle owners and fleet managers.
Impact of Industry Transitions on the Advanced Tpms Market
As a core segment of the A&T Technologies industry,
the Advanced Tpms market develops in line with broader industry shifts.
Over recent years, transitions such as Safety Regulations and Connected Vehicle Ecosystem have redefined priorities
across the A&T Technologies sector,
influencing how the Advanced Tpms market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Safety Regulations
Heightened safety standards in North America and Europe are driving the increased use of Advanced TPMS technology as a crucial aspect of tire safety and fuel efficiency, in vehicles is being underscored by governmental regulations and oversight agencies. This industry transition is expected to add $1.1 billion in the industry revenue between 2023 and 2030.
02
Connected Vehicle Ecosystem
As cars become increasingly interconnected, Advanced TPMS is being combined with connected vehicle technologies to boost vehicle safety and facilitate real time data exchange with other safety systems.