Middle East and Africa Automotive Tire Pressure Monitoring System Market – Growth & Forecast (2024

Middle East and Africa Automotive Tire Pressure Monitoring System Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Safe, comfortable and fuel-efficient driving depends on the components including tires. Usage of tire monitoring systems give indications related to the air pressure with the help of sensors, preventing the accidents to occur. However, the functional errors are present such as sudden disabling of the engine resulting in the accidents. This is avoided by the perfect OEM-fitted vehicles. The growth of the automotive tire pressure monitoring system market in the emerging economies around the globe is due to various facts such as the growing environmental and economic policies.

The Middle East & Africa Automotive Tire Pressure Monitoring System Market Size:

The Middle East & Africa Automotive Tire Pressure Monitoring System market is poised to reach a value of $6.75 billion in 2024 from $2.90 billion in 2018, growing with the CAGR of 12.65%. Key points like strict installation of TPMS and implementation in high & middle range vehicles, demand for tire monitoring system in the aircraft industry, government focus on road safety measures and growing consumer interest towards vehicle safety are accelerating this market growth. The automotive tire pressure monitoring system market has opportunities like encouragement by new car safety program(NCAP) by providing the rating for vehicles. Factors like Lack of standardisation and the high cost of TPMS systems, vehicle tracking using the TPMS sensors, Inaccurate results of TPMS in some regions are restricting the growth of the market.

The Middle East & Africa Automotive Tire Pressure Monitoring System Market Share:

Product type, vehicle type,

Middle East and Africa Automotive Tire Pressure Monitoring System Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

channel type and geographical regions are the segments present in the automotive tire pressure monitoring system market. There are sub-segments like direct TPMS, and Indirect TPMS are present by product type. Direct TPMS is going to drive the market growth as it is improving the vehicle safety by monitoring tire pressure with the help of sensors. This direct TPMS also include the automatic resetting when the rotation or inflation of the tire is done. Unlike the direct method, an Indirect method is used in monitoring air pressure by measuring the individual tire speed.

Passenger vehicles, heavy commercial vehicles, and light commercial vehicles are the sub-segments which are presently based on the vehicle type. Passenger cars have the large share, and it will be the fastest growing segment of an increase in the sales of passenger cars and development of luxury cars manufacturing industry is accelerating the market growth. OEMs and the aftermarket are the sub-segments present on the base of channel type. Original equipment manufacturers deal with the manufacturing equipment of the automotive. Whereas aftermarket is related to the market for the spare parts and accessories in the tire pressure monitoring system. Aftermarket is going to dominate the market growth of the TPMS market as owing to the growing safety concerns and rise in the lifespan of the vehicles. Geographical classification of the automotive tire pressure monitoring system market includes the Middle East and Africa regions.

The Middle East & Africa Automotive

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Middle East and Africa Automotive Tire Pressure Monitoring System Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Tire Pressure Monitoring System Market Trends:

As TPMS market is going global, the profits related to the companies manufacturing TPMS like Schrader electric profit has been tripled.
TWABCO and ZF has partnered in the regard of commercial vehicles which improve safety, efficiency, and connectivity

The Middle East

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