Asia Pacific (APAC) Tire Pressure Monitoring System Market (2024-2030) | Growth, Companies, Forecast, COVID-19 IMPACT, Analysis, Share, Outlook, Industry, Value, Trends, Revenue & Size

Asia Pacific (APAC) Tire Pressure Monitoring System Market Highlights

Report Name	Asia Pacific (APAC) Tire Pressure Monitoring System Market
Forecast Period	2024-2030
CAGR	7.2%
Growing Sector	Passenger Cars

Topics Covered in Asia Pacific (APAC) Tire Pressure Monitoring System Market Report

The Asia Pacific (APAC) Tire Pressure Monitoring System Market report thoroughly covers the market by Types, Sales Channels, Vehicle Types, and Key Countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Asia Pacific (APAC) Tire Pressure Monitoring System Market Synopsis

The Asia Pacific (APAC) Tire Pressure Monitoring System Market is witnessing notable growth, driven by the increasing focus on vehicle safety and regulatory mandates. 

According to 6Wresearch, the APAC Tire Pressure Monitoring System Market is projected to grow at a CAGR of 7.2% from 2024-2030. The passenger car segment is anticipated to be the fastest growing, which can be attributed to increasing vehicles on road and rising consumer awareness regarding safety of tires. In addition, advances in automotive technology and incorporation of TPMS with other vehicle safety systems are further supporting overall demand for tire pressure monitoring systems (TPMS).

However, the market faces challenges such as the high cost of advanced TPMS, which can deter adoption in cost-sensitive markets. Additionally, issues related to the accuracy and reliability of indirect TPMS can impact user trust. Furthermore, the aftermarket segment faces competition from OEMs, who offer integrated TPMS solutions with new vehicles, thereby reducing the demand for standalone systems.

Asia Pacific (APAC) Tire Pressure Monitoring System Market: Leading Players

Prominent players in the APAC Tire Pressure Monitoring System Market include Continental AG, Denso Corporation, and Sensata Technologies. Continental AG is known for its high-performance direct TPMS solutions that cater to both passenger cars and commercial vehicles. Denso Corporation offers a range of TPMS products, emphasizing reliability and advanced technology integration. Sensata Technologies provides innovative TPMS solutions with a focus on enhancing vehicle safety and performance.

Asia Pacific (APAC) Tire Pressure Monitoring System Industry: Government Initiatives

Governments across the Asia Pacific region have implemented various initiatives to enhance vehicle safety, which in turn support the TPMS market. These include regulations mandating the installation of TPMS in new vehicles to reduce accidents caused by tire failure. Efforts to promote awareness about the benefits of TPMS among consumers are also contributing to market growth. Furthermore, subsidies and incentives for adopting advanced vehicle safety systems, including TPMS, are expected to drive demand. Additionally, governments are investing in infrastructure development, which includes stringent safety measures, further propelling the need for TPMS in commercial vehicles.

Future Insights of the Market

The Asia Pacific (APAC) Tire Pressure Monitoring System Market is anticipated to witness significant growth over the next five years. Market growth is expected to be driven by technological advancements such as IoT-enabled TPMS, which offer real-time monitoring and alerts. Tech-savviness and eco-friendly nature in vehicles have triggered the application of more sophisticated TPMSs Considering the automotive industry's emphasis on safety and fuel efficiency, we can expect a strong demand from OEM as well as aftermarket segments. In addition, the rise of electric vehicles and automated driving technology will provide additional prospects for TPMS integration. In brief, innovation and sustainability-oriented focus will drive the market growth.

Market Segmentation By Types

According to Ravi Bhandari, Research Head, 6Wresearch, direct tire pressure monitoring systems are gaining prominence due to their accuracy and real-time monitoring capabilities, making them suitable for a wide range of vehicle types, including both passenger cars and commercial vehicles.

Market Segmentation By Sales Channels

The OEM segment leads on the back of new regulations necessitating TPMS installation in latest vehicles coupled with escalating consumer preferences for safety features

Market Segmentation By Vehicle Types

The passenger car segment accounts for the highest market share, due to growing vehicles-on-road and increasing consumer awareness about tire maintenance.

Market Segmentation By Key Countries

Due to the presence of a large automotive industry, along with strict safety norms, China is expected to remain in the front position as far as advanced TPMS solutions are concerned.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:                            

• Asia Pacific Tire Pressure Monitoring System Market Overview
• Asia Pacific Tire Pressure Monitoring System Market Outlook
• Asia Pacific Tire Pressure Monitoring System Market Forecast
• Historical Data of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Asia Pacific Tire Pressure Monitoring System Market Size and Asia Pacific Tire Pressure Monitoring System Market Forecast of Revenues and Volume, Until 2030
• Historical Data of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, By Types, for the Period 2020-2030
• Market Size & Forecast of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, By Types, Until 2030
• Historical Data of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, for the Period 2020-2030
• Market Size & Forecast of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, Until 2030
• Historical Data of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, for the Period 2020-2030
• Market Size & Forecast of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, Until 2030
• Historical Data of India Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of India Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of China Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of China Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of Japan Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Japan Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of Australia Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Australia Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of Indonesia Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Indonesia Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of Malaysia Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Malaysia Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of Thailand Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Thailand Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of the Rest of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of the Rest of Asia Pacific Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Asia Pacific Tire Pressure Monitoring System Market Trends and Industry Life Cycle
• Market Drivers and Restraints
• Market Opportunity Assessment
• Asia Pacific Tire Pressure Monitoring System Market Share, By Players
• Asia Pacific Tire Pressure Monitoring System Market Share, By Regions
• Asia Pacific Tire Pressure Monitoring System Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Direct Tire Pressure Monitoring System
• Indirect Tire Pressure Monitoring System

By Sales Channels

• Original Equipment Manufacturers (OEMs)
• Aftermarkets

By Vehicle Types

• Passenger Cars
• Commercial Vehicles

By Key Countries

• India
• China
• Japan
• Australia
• Indonesia
• Malaysia
• Thailand
• Rest Of Asia Pacific