The Tire Pressure Monitoring System (TPMS) market has grown in recent years. The market growth is attributed to the increased safety requirements and regulations. It is also being supported by technological advancements and increased customer awareness. TPMS systems monitor the tire pressure and alert drivers if there is low tire pressure. Low tire pressure can cause accidents, including tire bursts.
Market Size and Growth:
Globally, the TPMS market reached US$ 3.47 billion in 2023 and will grow to US$ 6.34 billion by 2031 at a CAGR of 6.2% from 2023 to 2031. This is due to vehicle production, showing a relatively stable trend, but new and updated regulations for TPMS and the increased demand for ADAS vehicle electrification technologies.
Market Drivers:
Several factors are driving the growth of the TPMS market:
Stricter security requirements: As many governments of the world make strict security regulations, and fitting TPMS systems in new vehicles is compulsory, have significantly created an impact on the demand for TPMS.
Technological and performance improvements: Improved TPMS technologies, such as real-time monitoring and wireless communication, have enabled more accurate and user-friendly systems.
Rising awareness among consumers on the need to maintain recommended tire pressure for their safety and fuel economy has increased the demand for TPMS systems.
TPMS ADAS Integration: ADAS features such as lane departure warning and blind spot monitoring are being combined with TPMS to provide a safety solution.
Market Trends:
Some of the notable trends shaping the TPMS market include:
Wireless TPMS: Wireless TPMS is becoming increasingly popular regardless of its high price as it is just a one-off purchase with ease in installation and maintenance.
Real-time monitoring: Most newer TPMS systems monitor a tire’s pressure and temperature in real-time and alert the driver if there is a problem, enabling preventive maintenance.
Integration/Core Connectivity – TPMS systems are sharing a common vehicle communication network in-vehicle, creating an opportunity to enable remote monitoring and diagnostics via connected car technologies.
Conclusion:
Market for TPMS is seen to climb in coming years due to safety parameters, technological progress, and consumer awareness. When connected vehicles will reach the market, and they will autonomous to some extent, the significance of TPMS will be monumental in the world of safe and effective transportation.
FAQs:
1. What is a Tire Pressure Monitoring System (TPMS)?
A TPMS is an on-board system that monitors the air pressure inside the tyres of a vehicle andissues a warning to the driver should the pressure fall below a preset threshold.
2. How does a TPMS work?
TPMS systems usually have a pressure sensor mounted in each wheel, which sends the data to a receiver in the car.
3. Why is it important to have a TPMS?
TPMS helps alert drivers to low inflation when they are about to enter the highway, before the tire pressure decreases to an unsafe level resulting in an accident or blowout.
4. Are TPMS systems mandatory in all vehicles?
Many countries have regulations mandating the installation of TPMS systems in new vehicles.
5. What are the different types of TPMS systems?
Direct TPMS systems depend on sensors in the tyres. Indirect TPMS systems monitor the ABS sensors in a vehicle.
6. How often should I check my tire pressure?
However, it is advised that you check your tire pressure at least once a month, and also before any long journeys.
7. Can I replace a TPMS sensor myself?
It is generally recommended to have a TPMS sensor replaced by a professional mechanic.
8. How long do TPMS sensors last?
Like most other TPMS sensors, however, its consumption of months should be considered a triumph. Most should last several years, unless they succumb to overuse, sun or a banging.
Conclusion:
Market for TPMS is seen to climb in impending years due to safety parameters, technological progress and consumer awareness. When connected vehicles will reach the market, and they will autonomous to some extent, the significance of TPMS will be monumental in the world of safe and effective transportation.
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