Asia Pacific Automotive TPMS market to Grow with a CAGR of 7.6% through 2030
The Asia Pacific Automotive
TPMS market is experiencing growth driven by stringent safety regulations, the
increasing adoption of advanced vehicle technologies, and the rising demand for
fuel-efficient vehicles. These factors are driving the market in the forecast
period 2026-2030.
According to TechSci Research report, “Asia Pacific Automotive
TPMS Market – By Country, Competition, Opportunity and Forecast,
2020-2030F”, The Asia Pacific Automotive TPMS Market was
valued at USD 1.5 Billion in 2024 and is expected to reach USD 2.3 Billion by
2030 with a CAGR of 7.6% during the forecast period. The automotive TPMS market in the Asia Pacific region is witnessing
notable expansion due to various factors such as regulatory requirements,
technological advancements, and rising consumer interest in vehicle safety.
Governments across the region have introduced stricter regulations to enhance
vehicle safety, compelling manufacturers to integrate TPMS into vehicles. These
systems play a critical role in preventing accidents caused by under-inflated
tires and improving overall vehicle performance. As the regulatory environment
tightens, the demand for TPMS systems is expected to rise.
Technological progress in sensor technology and other components is also
contributing to the growth of the market. TPMS technology is becoming more
sophisticated and affordable, making it an attractive option for vehicle
manufacturers and consumers. With the growth of electric and hybrid vehicles,
which require optimized tire management for energy efficiency, the demand for
TPMS is further increasing. However, challenges persist. The cost of implementing TPMS systems and
the complexity of maintaining these systems, especially in the aftermarket, can
act as barriers to adoption. Despite these challenges, innovations and
advancements in TPMS technology, along with greater awareness, will likely
mitigate these concerns and ensure the market's continued growth.
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Asia Pacific Automotive TPMS Market Is
Segmented by Vehicle Type, Sales Channel, Type, and By Country.
The Asia Pacific Automotive
TPMS market is segmented into two primary sales channels: OEM (Original
Equipment Manufacturer) and aftermarket. The OEM segment plays a pivotal role
in the widespread adoption of TPMS systems, as these systems are integrated into
vehicles during the manufacturing process. With regulatory frameworks mandating
the inclusion of TPMS in new vehicles, the OEM channel sees significant demand.
Vehicle manufacturers are increasingly offering TPMS as a standard feature in
both passenger and commercial vehicles, ensuring that new models come equipped
with these essential safety systems. As the automotive industry continues to
prioritize vehicle safety, the OEM segment is expected to maintain a dominant
share of the market. The aftermarket segment, on
the other hand, caters to the replacement and retrofitting needs of existing
vehicles. As more vehicles on the road lack factory-installed TPMS, the
aftermarket has seen growing demand for retrofitting solutions. Aftermarket TPMS
offers a cost-effective way to enhance vehicle safety for consumers who own
older models or vehicles that do not meet current regulatory standards.
However, challenges such as compatibility with different vehicle models and the
costs associated with installation can affect the growth of this segment. Both segments are expected
to grow, with the OEM market benefiting from regulatory pressures and
technological advances, while the aftermarket segment is anticipated to rise
due to the growing need for TPMS retrofitting.
In 2024, the fastest
growing region in the Asia Pacific Automotive TPMS market is India.
The country's growing automotive industry, combined with rising awareness of
vehicle safety, has contributed significantly to the increasing demand for
TPMS. India is witnessing a surge
in vehicle production and sales, supported by both domestic demand and exports. The region’s automotive
market is expanding as vehicle manufacturers adopt safety features like TPMS in
response to regulatory frameworks that are becoming more stringent. This growth
is driven by the increasing adoption of TPMS in new vehicles, particularly in
the passenger car and commercial vehicle segments. Additionally, the
aftermarket segment is also benefiting from the increasing number of vehicles
on the road that require retrofitting to meet modern safety standards. Increased vehicle
ownership, economic development, and rising safety awareness are contributing
to the region's growing TPMS market. As these countries continue to enhance
their automotive safety regulations and promote the benefits of advanced
technologies, the demand for TPMS is expected to see substantial growth.
Major Market Players
Operating in Asia Pacific Automotive TPMS Market Are:
- PHINIA Inc.
- DENSO Corporation
- Continental AG
- ZF Friedrichshafen AG
- Pacific Industrial Co., Ltd.
- Schrader Electronics, Ltd..
- Hella KGaA Hueck & Co.
- Valeo S.A..
- ALLIGATOR Ventilfabrik GmbH
- Batec Group
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The increasing demand for advanced and efficient
automotive technologies, particularly in the development of fuel-efficient and
high-performance vehicles, is driving the growth of the Automotive TPMS market.
Manufacturers are focused on creating vehicles that offer enhanced safety, fuel
efficiency, and reduced environmental impact, which is boosting the demand for
innovative TPMS solutions. Stricter regulations aimed at improving vehicle
safety and reducing tire-related accidents are further accelerating the need
for precise and reliable tire monitoring systems. As the automotive industry
moves toward more fuel-efficient and eco-friendly vehicle designs, the demand
for advanced TPMS systems that can support the integration of lightweight
materials and electric vehicles is expected to rise. This shift is anticipated
to significantly contribute to the market's growth in the coming years", said
Mr. Karan Chechi, Research Director of TechSci Research, a research-based
global management consulting firm.
“Asia Pacific Automotive TPMS Market By Type (Direct TPMS and Indirect TPMS), By Sales Channel (OEM and Aftermarket), By Vehicle Type (Passenger Cars and Commercial Vehicles), By Country, Competition, Opportunities and Forecast, 2020-2030F”, assesses the market's future growth potential and
provides data on market size, trends, and forecasts. It aims to offer
comprehensive market insights, helping decision-makers make informed investment
choices. The report also highlights emerging trends, key drivers, challenges,
and opportunities in the Asia Pacific Automotive TPMS Market.
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