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Competitive Prices and the Advantage of Higher Vehicle Coverage are Driving the Future Growth Potential for Programmable TPMS Sensors
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This report covers the class 1–3 vehicle TPMS aftermarket demand. The overall market has been divided by sensor type into direct-fit, pre-programmed, and programmable sensors. The study discusses unit shipments, revenue, average price, distribution channel share, and major participants for all the TPMS aftermarket sensor types. The base year for analysis is 2020, and the forecast period is from 2021 to 2027.The class 1–3 TPMS sensors aftermarket demand is expected to grow in terms of unit shipments in the coming years. An increase in the number of vehicles in operation (VIO), coupled with government mandates on TPMS systems in all the new vehicle sales is significantly driving the unit shipments during the forecast period. The North America class 1–3 TPMS sensors aftermarket is dominated by the programmable TPMS in terms of unit shipments and revenue. Programmable TPMS sensors held approximately 42% revenue share in 2020. The COVID-19 pandemic has resulted in a slightly declined growth rate in 2020 and the market is expected to be steady by the end of 2021.The key channel partners in these segments are the tire warehouse distributors (WDs) and original equipment suppliers (OESs), which together hold a major revenue share of around 66% across all product segments. The average price of the TPMS sensors is expected to drop in the forecast period due to the decline in the revenue share from the OES side, higher supply of TPMS sensors, and reduction in the battery prices.The top 3 players in the North American class 1–3 TPMS sensors aftermarket hold a significant revenue share of around 76% to 79% in the base year. Sensata Technologies, Continental Automotive Systems, Huf North America, and Autel are the major players in the class 1–3 TPMS sensors aftermarket in North America.
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