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Tire Pressure Monitoring System (TPMS) Market Trends

Report ID: GMI6466
Published Date: Aug 2023
Report Format: PDF

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Tire Pressure Monitoring System Market Trends

Increasing demand for technologically advanced tire pressure monitoring systems for improved driving experience and safety will favor market size. For instance, in June 2022, Sensata Technologies developed a new Intelligent TPMS for vehicle OEMs to assist in improving vehicle safety and performance. The surging integration of vehicle connectivity and infotainment systems in these systems has made way for real-time tire pressure monitoring to drivers through dashboard displays and smartphone apps.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of tire pressure monitoring system was reached USD 6.2 billion in 2022 and will record 10.9% CAGR from 2023 to 2032, owing to the rising implementation of regulations for improved road safety worldwide.

The passenger cars vehicle type segment garnered over 79% of the market share in 2022, on account of the incessant need for lower emissions by enhancing fuel efficiency.

The aftermarket sales channel type segment record 32% of the market share in 2022, due to the increasing desire for improved vehicle performance and higher awareness of passenger vehicle telematics worldwide.

North America held over 32% of the market share in 2022, driven by the rising automotive sales in the region.