North America Tire Pressure Monitoring System Market (2020-2026) | Size, Analysis, Revenue, industry, Forecast, Trends, Growth, industry, Outlook & COVID-19 IMPACT

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

North America Tire Pressure Monitoring System Market: FAQs