North America Tire Pressure Monitoring System Market (2024-2030) | Size, Analysis, Revenue, industry, Forecast, Trends, Growth, industry, Outlook
Market Forecast 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 (United States of America, Canada, Rest of North America) And Competitive Landscape.
| Product Code: ETC001569 | Publication Date: Aug 2024 | Updated Date: Aug 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
North America Tire Pressure Monitoring System Market Highlights
| Report Name | North America Tire Pressure Monitoring System Market |
| Forecast period | 2024-2030 |
| CAGR | 7.3% |
| Growing Sector | Original Equipment Manufacturers |
Topics Covered in North America Tire Pressure Monitoring System Market Report
North America 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.
North America Tire Pressure Monitoring System Market Synopsis
The North America Tire Pressure Monitoring System Market is seeing robust growth due to the rising awareness of vehicle safety and the increasing implementation of safety regulations across the region.
According to 6Wresearch, the North America Tire Pressure Monitoring System Market is projected to grow at a CAGR of 7.3% from 2024-2030. The OEM sector is leading the market growth, driven by stringent safety regulations and the increasing integration of advanced safety features in vehicles. The growing demand for fuel efficiency and the need to reduce vehicular emissions are also contributing to market expansion. Furthermore, the surge in the sales of passenger cars and commercial vehicles across the region is bolstering the demand for tire pressure monitoring systems.
However, the market faces challenges such as high initial costs and the complexity of integrating these systems into existing vehicle models. Additionally, the aftermarket segment is experiencing slower growth due to the limited availability of compatible systems for older vehicles. The high cost of replacement sensors and maintenance also poses a challenge for the widespread adoption of these systems.
North America Tire Pressure Monitoring System Market: Leading Players
Leading players in the North America Tire Pressure Monitoring System Market include Continental AG, Denso Corporation, and Huf Hülsbeck & Fürst GmbH & Co. KG. Continental AG is recognized for its advanced direct tire pressure monitoring systems that offer real-time monitoring and alerts. Denso Corporation provides a range of indirect tire pressure monitoring systems known for their reliability and integration capabilities. Huf Hülsbeck & Fürst GmbH & Co. KG specializes in innovative tire pressure monitoring solutions that cater to both OEM and aftermarket segments.
North America Tire Pressure Monitoring System Industry: Government Initiatives
Governments in North America have implemented various initiatives to enhance vehicle safety standards, including the mandatory installation of tire pressure monitoring systems in new vehicles. These regulations are aimed at improving road safety and reducing accidents caused by underinflated tires. Additionally, initiatives to promote the adoption of advanced safety technologies in vehicles are driving market growth. Investments in research and development to enhance the accuracy and reliability of these systems are also being supported by government funding. Furthermore, programs aimed at raising awareness about the importance of tire maintenance and safety are expected to boost the adoption of tire pressure monitoring systems.
Future Insights of the Market
The North America 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 integration with IoT in smart tire pressure monitoring systems. Growing inclination towards energy-efficient and automated safety solutions, coupled with increasing demand for smart and connected vehicles by concerned individuals, is expected to influence the sales of advanced models. In addition to this, the automotive industry will keep its importance high as more manufacturers offer premium safety features. Moreover, growth opportunities are significant within the aftermarket segment as increasing preference for high-end safety systems among consumers would lift up demand. In brief, growth will be driven by innovation and sustainability-oriented focus in the market.
Market Segmentation By Types
According to Ravi Bhandari, Research Head, 6Wresearch, direct tire pressure monitoring systems are leading the market due to their accuracy and real-time monitoring capabilities.
Market Segmentation By Sales Channels
OEMs are gaining significant demand as they integrate advanced tire pressure monitoring systems into new vehicle models, enhancing safety features directly from the factory.
Market Segmentation By Vehicle Types
The passenger cars segment dominates the market, driven by the increasing adoption of tire pressure monitoring systems in new passenger vehicles to meet safety regulations and consumer demand for enhanced safety features.
Market Segmentation By Key Countries
The United States is the leading market due to its strict safety regulations and high adoption rates of advanced automotive technologies, followed by Canada and the Rest of North America.
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:
- North America Tire Pressure Monitoring System Market Overview
- North America Tire Pressure Monitoring System Market Outlook
- North America Tire Pressure Monitoring System Market Forecast
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
- North America Tire Pressure Monitoring System Market Size and North America Tire Pressure Monitoring System Market Forecast of Revenues and Volume, Until 2030
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, By Types, for the Period 2020-2030
- Market Size & Forecast of North America Tire Pressure Monitoring System Market Revenues and Volume, By Types, Until 2030
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, for the Period 2020-2030
- Market Size & Forecast of North America Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, Until 2030
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, for the Period 2020-2030
- Market Size & Forecast of North America Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, Until 2030
- Historical Data of the United States of America Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
- Market Size & Forecast of United States of America Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
- Historical Data of Canada Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
- Market Size & Forecast of Canada Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
- Historical Data of the Rest of North America Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
- Market Size & Forecast of the Rest of North America Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
- Market Drivers and Restraints
- North America Tire Pressure Monitoring System Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- North America Tire Pressure Monitoring System Market Share, By Players
- North America Tire Pressure Monitoring System Market Share, By Regions
- North America 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
- United States Of America
- Canada
- Rest Of North America
North America Tire Pressure Monitoring System Market (2024-2030): FAQs
The North America Tire Pressure Monitoring System Market is projected to grow at a CAGR of 7.3% from 2024 to 2030.
The market growth is driven by rising vehicle safety awareness, increasing implementation of safety regulations, and the growing demand for fuel efficiency and reduced vehicular emissions.
Challenges include high initial costs, integration complexity, and high replacement sensor costs, affecting widespread adoption.
The report covers key segments including Types, Sales Channels, Vehicle Types, and Key Countries.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Report Description |
| 2.2 Key Highlights |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 North America Tire Pressure Monitoring System Market Overview |
| 3.1 North America Tire Pressure Monitoring System Market Revenues and Volume, 2020-2030F |
| 3.2 North America Tire Pressure Monitoring System Market Revenue and Volume Share, By Types, 2020 & 2030F |
| 3.3 North America Tire Pressure Monitoring System Market Revenue and Volume Share, By Sales Channels, 2020 & 2030F |
| 3.4 North America Tire Pressure Monitoring System Market Revenue and Volume Share, By Vehicle Types, 2020 & 2030F |
| 3.5 North America Tire Pressure Monitoring System Market Revenue and Volume Share, By Countries, 2020 & 2030F |
| 3.6 North America Tire Pressure Monitoring System Market - Industry Life Cycle |
| 3.7 North America Tire Pressure Monitoring System Market - Porter’s Five Forces |
| 4 North America Tire Pressure Monitoring System Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraints |
| 5 North America Tire Pressure Monitoring System Market Trends |
| 6 North America Tire Pressure Monitoring System Market Overview, By Types |
| 6.1 North America Direct Tire Pressure Monitoring System Market Revenues and Volume, 2020-2030F |
| 6.2 North America Indirect Tire Pressure Monitoring System Market Revenues and Volume, 2020-2030F |
| 7 North America Tire Pressure Monitoring System Market Overview, By Sales Channels |
| 7.1 North America Tire Pressure Monitoring System Market Revenues and Volume, By OEMs, 2020-2030F |
| 7.2 North America Tire Pressure Monitoring System Market Revenues and Volume, By Aftermarkets, 2020-2030F |
| 8 North America Tire Pressure Monitoring System Market Overview, By Vehicle Types |
| 8.1 North America Passenger Cars Tire Pressure Monitoring System Market Revenues and Volume, 2020-2030F |
| 8.2 North America Commercial Vehicles Tire Pressure Monitoring System Market Revenues and Volume, 2020-2030F |
| 9 United States of America Tire Pressure Monitoring System Market Overview |
| 9.1 United States of America Tire Pressure Monitoring System Market Revenues and Volume, 2020-2030F |
| 9.2 United States of America Tire Pressure Monitoring System Market Revenue and Volume, By Types, 2020-2030F |
| 9.3 United States of America Tire Pressure Monitoring System Market Revenue and Volume, By Sales Channels, 2020-2030F |
| 9.4 United States of America Tire Pressure Monitoring System Market Revenue and Volume, By Vehicle Types, 2020-2030F |
| 10 Canada Tire Pressure Monitoring System Market Overview |
| 10.1 Canada Tire Pressure Monitoring System Market Revenues and Volume, 2020-2030F |
| 10.2 Canada Tire Pressure Monitoring System Market Revenue and Volume, By Types, 2020-2030F |
| 10.3 Canada Tire Pressure Monitoring System Market Revenue and Volume, By Sales Channels, 2020-2030F |
| 10.4 Canada Tire Pressure Monitoring System Market Revenue and Volume, By Vehicle Types, 2020-2030F |
| 11 Rest of North America Tire Pressure Monitoring System Market Overview |
| 11.1 Rest of North America Tire Pressure Monitoring System Market Revenues and Volume & Volume, 2020-2030F |
| 12 North America Tire Pressure Monitoring System Market Key Performance Indicators |
| 13 North America Tire Pressure Monitoring System Market Opportunity Assessment |
| 13.1 North America Tire Pressure Monitoring System Market Opportunity Assessment, By Types, 2030F |
| 13.2 North America Tire Pressure Monitoring System Market Opportunity Assessment, By Sales Channels, 2030F |
Market Forecast 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 (United States of America, Canada, Rest of North America) And Competitive Landscape.
| Product Code: ETC001569 | Publication Date: Jan 2020 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Latest 2023 Developments of the North America Tire Pressure Monitoring System Market
The North America Tire Pressure Monitoring System Market is one of the evolving markets in the region. Integration of advanced sensors as well as wireless technologies into these systems enabling for real-time data analysis and monitoring. The rising adoption of indirect tire pressure monitoring systems is another major development of the sector that uses vehicle speed sensors in order to calculate tire pressure. This technology is affordable as compared to direct TPMS systems and it maintains a high level of accuracy. There is a rising focus on using cloud-based platforms for monitoring and diagnostics which enables fleet divers or managers to access essential information regarding their tires from anywhere, enhancing efficiency and decreasing maintenance costs., which is fueling the North America Tire Pressure Monitoring System Market Growth. Manufacturers are exploring ways in order to integrate TPMS with safe technologies like lane departure warning (LDW) systems and automatic emergency braking (AEB) to develop safer vehicles.
North America Tire Pressure Monitoring System Market Synopsis
The rising number of accidents resulting from tire blowouts, increasing demand for fuel-efficient vehicles, as well as the requirement to oblige with safety and fuel efficiency government regulations, have driven the demand for the tire pressure monitoring systems market in the region over the past years. Technological innovations such as Bluetooth-enabled tire monitors have improved precision, durability, and ease of installation thereby further fueling the demand for tire pressure monitoring systems over the coming years.
According to 6Wresearch, the North America Tire Pressure Monitoring System Market size is projected to grow during 2020-2026. Currently, the USA holds the major market revenue share in the tire pressure monitoring market in the North America region on the back of government regulations such as the Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act which mandates the installation of tire pressure monitoring systems. However, growing consumer concerns related to road safety, expansion in the market for luxury cars along with extensive use of winter tires in Canada are expected to propel the market for TPMS in the Canadian market during the forecast period.
Based on types, direct tire pressure monitoring systems are the leading contributors to the TPMS market. Based on sales channels, OEMs hold the largest market share and are expected to maintain their position during the forecast period. Based on vehicle types, passenger cars are anticipated to constitute the highest share of the North America tire pressure monitoring system market during the next five years.
The North America tire pressure monitoring system market report thoroughly covers the market by types, sales channels, vehicle types, and key countries including the United States of America and Canada. The North America tire pressure monitoring system market outlook provides an unbiased and detailed analysis of the ongoing North America tire pressure monitoring system 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.
The North America tire pressure monitoring system market is expected to witness significant growth in the coming years on the back of rising government regulations to curb rising vehicular emissions and ensure convenient and safe driving in the coming years. Further, an increase in the deteriorating air quality as a result of emissions by vehicles due to bad road experience is posing a threat to the environment owing to which several environmental mandates have been imposed to ensure environmental safety is expected to garner significant revenues for the North America tire pressure monitoring system market in the upcoming six years.
COVID-19 Impact on North America Tire Pressure Monitoring System Market
The coronavirus pandemic had a major impact on the growth of the North America Tire Pressure Monitoring System (TPMS) market. There was a huge reduction in automobile sales during the pandemic which significantly affected the demand for these systems with the lockdowns and other restrictions imposed by the government across the region. However, people across the continent preferred private vehicles owing to safety concerns, which is lead to a rise in demand for these systems in the sector. The outbreak of the disease caused disruptions in the supply chains of components such as control units and sensors which became the major reason for the decline of the North America Tire Pressure Monitoring System Market Share during the pandemic.
North America Tire Pressure Monitoring System Market: Key Players
The competition in the market is growing as there is a rise in demand for tire pressure monitoring systems. Some major industry players include:
- Schrader International Inc.
- Continental AG
- Pacific Industrial Co. Ltd.
- Sensata Technologies Inc.
- Bartec USA LLC
- Denso Corporation
Key Highlights of the Report:
- North America Tire Pressure Monitoring System Market Overview
- North America Tire Pressure Monitoring System Market Outlook
- North America Tire Pressure Monitoring System Market Forecast
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2016-2019
- North America Tire Pressure Monitoring System Market Size and North America Tire Pressure Monitoring System Market Forecast of Revenues and Volume, Until 2026
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, By Types, for the Period 2016-2019
- Market Size & Forecast of North America Tire Pressure Monitoring System Market Revenues and Volume, By Types, Until 2026
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, for the Period 2016-2019
- Market Size & Forecast of North America Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, Until 2026
- Historical Data of North America Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, for the Period 2016-2019
- Market Size & Forecast of North America Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, Until 2026
- Historical Data of the United States of America Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2016-2019
- Market Size & Forecast of United States of America Tire Pressure Monitoring System Market Revenues and Volume, Until 2026
- Historical Data of Canada Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2016-2019
- Market Size & Forecast of Canada Tire Pressure Monitoring System Market Revenues and Volume, Until 2026
- Historical Data of the Rest of North America Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2016-2019
- Market Size & Forecast of the Rest of North America Tire Pressure Monitoring System Market Revenues and Volume, Until 2026
- Market Drivers and Restraints
- North America Tire Pressure Monitoring System Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- North America Tire Pressure Monitoring System Market Share, By Players
- North America Tire Pressure Monitoring System Market Share, By Regions
- North America Tire Pressure Monitoring System Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Markets Covered
The North America Tire Pressure Monitoring System Market 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
- OEMs
- Aftermarkets
By Vehicle Types
- Passenger Cars
- Commercial Vehicles
By Key Countries
- United States of America
- Canada
- Rest of North America
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