Automotive Tire Pressure Management System Market Size, Share, Opportunities, And Trends By Type (Direct TPMS, Indirect TPMS), By Vehicle Type (Commercial Vehicle, Passenger Cars), And By Geography - Forecasts From 2024 To 2029

The automotive tire pressure management system is anticipated to expand at a high CAGR over the forecast period.

An automotive tire pressure management system is used for monitoring air pressure regularly which is inside the pneumatic tires on the vehicles. By using either a gauge, a simple low-pressure warning light, or a pictogram display it can warn the driver and provide real-time tire-pressure information to the driver. This tire pressure management system is a necessary part of manufacturing an automobile because it helps avoid traffic accidents and poor fuel economy. Also, it can reduce tire wear due to under-inflated tires through early recognition of the hazardous state of the tires.

Several governments around the globe have mandated the installation of automotive tire pressure management systems during the manufacturing process of new vehicles. These governments include the US, South Korea, Russia, the EU, Japan, and other countries in the Asian region. The need for an automotive tire pressure management system is important in enhancing driver safety and proper tire maintenance that can and does help prevent many serious accidents. The functioning of this system relies on wheel speed sensors that the anti-lock brake system uses. They measure the rate of revolution each wheel is making which can be further used by on-board computer systems for comparing with each other or other vehicle operation data such as speed.

INTRODUCTION:

The automotive tire pressure management system market is driven majorly by the increasing demand for a secure, safer, and efficient driver experience in automobiles for the general public. Therefore, constant developments and innovations are being made to make it possible. Additionally, a rise in demand for automobiles and electric vehicles with better safety features and sustainability is fueling the market growth. These electric vehicles have demand for regular monitoring of tire pressure so that they can provide better energy efficiency and long range in the drive.

The widespread adoption of tire pressure monitoring systems by major vehicle manufacturers and several governments around the globe promoting these features to be installed in the new vehicles that are manufactured is driving the market growth. The constant advancement in improving automobile safety features is also contributing to market growth. For instance, the integration of a tire pressure management system in vehicles can be further connected to the driver's smartphone and they can get instant and real-time updates on the smartphone about the tire pressure and temperature. Therefore, these factors are predicted to propel the automotive tire pressure management system market over the forecast period.

MARKET DRIVERS:

• Growth in demand for EVs and autonomous vehicles is predicted to propel the market:

The demand for electric vehicles has seen rapid growth in the market for better speed, eco-friendly, and cost-efficient travel for the general public. This in turn is increasing the demand for appropriate safety measures like tire pressure management systems that are suitable for these electric vehicles which have different requirements for an automobile than a traditional engine car.

These electric vehicles need to monitor the tire pressure constantly because according to that data, it can provide better energy efficiency and long-range travel to the driver. Therefore, the rise in demand for these EVs and autonomous vehicles coupled with governments around the globe investing heavily in enhancing the infrastructure for these EVs is predicted to propel the automotive tire pressure management system market.

• The growing mandates by governments for tire pressure management systems around the globe are projected to drive the market.

Governments around the globe are promoting and mandating several safety features in automobiles to avoid and reduce the growing number of road accidents across the globe. These tire pressure management systems play an important role in improving driver safety as they give regular updates on tire pressure and temperature to the driver and then the driver can use that information to avoid accidents and be safe. These tire pressure monitoring systems are mandated by governments like Russia, Japan, and many other Asian countries to be installed in every new vehicle that is manufactured in the region.

• The constant innovation in the automobile industry is anticipated to propel growth in the market.

The tire pressure management system installed in vehicles is for improved safety of the driver. To keep drivers safe and increase efficiency of the technology constant innovations are being made by the automobile industry. Additionally, the improved sensors provide enhanced reliability, accuracy, and durability to the driver. These improved sensors provide precise data on tire pressure and temperature.

Also, the integration of smartphone technology into the tire pressure management system through which the driver can easily get regular updates on his smartphone and assess the tire situation using the real-time data it provides on tire condition. These advancements in technology are predicted to propel market growth.

MARKET RESTRAINT:

The sensors present in the tire pressure management system are connected to an in-built computer system and software of the vehicle. Therefore, if by mistake any software failure occurs or any wrong update is done on the software it can lead to severe consequences like road accidents. These software failures depend on the driver's location and can affect severely based on where they occur in the driver's vehicle.

Also, this automotive software with time is constantly evolving and getting more complex which increases the threat of software failure. Therefore, this possibility of software failure in tire pressure management systems can hinder market growth over the forecast period.

Prominent growth is projected in the Asia Pacific region.

Asia Pacific region is expected to show major growth in the automotive tire pressure management system market. The rapid growth in the automobile industry in the region coupled with rising populations in countries like China and India is rapidly increasing the demand for automobiles. Moreover, Japan has shown significant growth in electric vehicles and autonomous vehicles adoption in the region with rapidly increasing building of necessary infrastructure needed for electric vehicles. Moreover, the mandates regarding the safety features in vehicles by governments in the region which include automotive tire pressure management systems are predicted to propel its market in the region over the forecast period.

Products Offered by Key Companies:

• Sensata Technologies: Tire Management Solutions or TPMS by Senstaa Technologies provides enhanced data and tire health insights in automotive and delivers safety and environmental-related tire pressure monitoring.
• Tymtix: TPMS offered by Tymtix can identify the issue and inform the driver about real-time data of tire pressure and the sensors check pressure every 15 seconds and sync with the app every minute in a ten-meter range.

Key Developments:

• In January 2024, Magna Tyres introduced its own TPMS or tire pressure management system. According to them, it’s a tool to extract the most out of the fleet without worrying about the size.

Segmentation:

• By Type
  • Direct TPMS
  • Indirect TPMS
• By Vehicle Type
  • Commercial Vehicle
  • Passenger Cars
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others 
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others 
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others 
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others