Automotive Tire Pressure Monitoring Systems (TPMS) are active safety systems that help monitor the tire pressure of vehicles by using pressure sensors or through the wheel speed sensors of ABS/ESC systems. Batteries used in TPMS generally have a lifespan of 6 to 10 years. Moreover, the entire TPMS has to be replaced if the battery dies.
The global TPMS battery market is estimated to be valued at US$ 451.6 Mn by the end of 2018 and is expected to reach US$ 847.4 Mn by the end of 2026, at a CAGR of 8.2% over the forecast period. The global TPMS battery market is anticipated to represent an incremental opportunity of US$ 395.8 Mn between 2018 and 2026.
Factors influencing the growth of the global TPMS battery market
Growing regulations to mandate the installation of TPMS in developed regions such as North America, Europe and China act as a catalyst in the overall growth of TPMS battery market. Moreover, increase in the adoption of automotive safety systems is among key factors responsible for driving the TPMS market. This is expected to boost the demand for TPMS batteries over the forecast period.
The global TPMS battery market is estimated to be driven by an increase in the production of vehicles across the globe. Lucrative growth in the automotive industry is also expected to be a prime factor supplementing market growth.
Global TPMS battery market segmentation and forecast
The global TPMS battery market is segmented on the basis of battery type, capacity, type, sales channel, distribution channel and region. On the basis of battery type, the global TPMS battery market is segmented into CR type battery and BR type battery. CR type battery is further segmented into CR 2032, CR 2430, and CR 2320. Based on capacity, the market is segmented into up to 350 mA and above 350 mA. On the basis of type, the market is segmented into lithium ion and nickel metal hydride. Based on sales channel, the market is segmented into Original Equipment Supplier (OES) and Independent Aftermarket (IAM). Based on distribution channel, the market in segmented into offline sales and online sales. Significant regions covered in the report includes North America, Latin America, Europe, SEA & Pacific, China, Japan, and the Middle East & Africa.
Global TPMS battery market analysis, by battery type
The CR type battery segment is projected to account for a 91.3% volume share in the global TPMS battery market by the end of 2026, increasing at a CAGR of 8.4% over the forecast period.
Global TPMS battery market analysis, by capacity
By capacity, the up to 350 mA segment is projected to dominate the global TPMS battery market in 2018. The segment is forecasted to account for a market value share of 91.6% by the end of 2026.
Global TPMS battery market analysis, by type
By type segment, the lithium ion segment is projected to dominate the global TPMS battery market in 2018. The lithium ion segment is forecasted to account for 93.4% market value share by the end of 2026.
Global TPMS battery market analysis, by sales channel
The OES segment is projected to account for 80.8% volume share in the global TPMS battery market by the end of 2026, at a CAGR of 8.4% over the forecast period.
Global TPMS battery market analysis, by distribution channel
The offline sales segment is estimated to dominate the global TPMS battery market with a volume share of 64.5% by the end of 2026 end at a CAGR of 7.9%. The online sales segment is anticipated to gain traction in the coming years.
Global TPMS battery market analysis, by region
From a regional perspective, North America is estimated to represent 39.6% of the market volume share in 2018. The market is expected to increase at a volume CAGR of 8.2% over the forecast period. The sales revenue of TPMS batteries in North America is expected to reach US$ 261.0 Mn by the end of 2026 at a CAGR of 7.8% over the forecast period. Market growth in China and SEA & Pacific is expected to remain high compared to the global average between 2018 and 2026 at CAGR of 9.0% & 9.1% respectively.
Key players dominating the global TPMS battery market
Some of the key market participants reported in this study of the global TPMS battery market are Murata Manufacturing Co., Ltd.; Panasonic Corporation; Maxell Holdings, Ltd.; Duracell, Inc.; The Swatch Group (Renata SA); BE-POWER GmbH; EVE Energy Co., Ltd.; Guangzhou MaiSheng Energy Technology Co., Ltd.; Suzhou South Large Battery Co., Ltd. and Shenzhen Pkcell Battery Co., Ltd.
Persistence Market Research (PMR) analyzes the TPMS battery market in its new publication titled “TPMS Battery Market Global Industry Analysis 2013–2017 and Forecast 2018–2026”. This study provides data for 2017 along with the forecast for the period (2018–2026). The main objective of the report is to identify the dynamics of the market and provide recent updates and insights that affect various segments of the global TPMS battery market. To provide a better understanding of the TPMS battery market, the report also includes the analysis of global drivers, restraints, and trends which influence the current market scenario and future status of the global TPMS battery market over the forecast period.
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To understand and assess market opportunities and trends, the global TPMS battery market report is categorically split into different sections based on market segmentation – by battery type, by capacity, by type, by sales channel, by distribution channel, and by region. The report starts with an overview of the TPMS battery market and provides market definition & taxonomy, along with the value chain, pricing analysis, drivers, restraints, and trends in the market. The sections that follow include the global TPMS battery market analysis by battery type, by capacity, by type, by sales channel, by distribution channel, and by region. All the above sections evaluate the TPMS battery market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global TPMS battery market. To give a brief idea about revenue opportunities from the battery type, capacity, type, sales channel, distribution channel, and regional segments, the report also provides the value of the TPMS battery market, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2018-2026).
In the final section of the report, we have provided the global TPMS battery market structure and a detailed competition landscape with company market share and performance to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This is expected to enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
Research methodology
For market data analysis, we have considered 2017 as the base year, with market numbers estimated for 2018 and forecasts for 2018–2026. To calculate the market size, the report considers the weighted average price of TPMS batteries based on the battery type, such as CR type battery and BR type battery, across key geographies on a country basis. The forecast assesses the total revenue (US$ Mn) and volume (‘000 Units) of the global TPMS battery market. To deduce the market value, the cost of each battery type has been considered. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global TPMS battery market is expected to develop in the future. Critical market data, including the base number and segment splits, has been devised through in-depth secondary and primary research. This data is then triangulated on the basis of different verticals by considering supply side as well as demand side drivers and other dynamics of various regional markets, along with primary interviews of manufacturers and industry experts operating in the global TPMS battery market. The forecast presented in the report evaluates the actual cost of the different types of TPMS batteries and the cost as per brands in the global TPMS battery market over the forecast period.
We have also analyzed the different segments of the global TPMS battery market in terms of Basis Point Share (BPS) to understand the relative contribution of individual segments to market growth. This detailed level of information is important for identifying the various key trends governing the global TPMS battery market. The report also analyzes the global TPMS battery market based on the absolute dollar opportunity. This is usually overlooked while estimating the market forecast. However, from a sales perspective, it is essential to identify the absolute dollar opportunity to identify potential resources in the TPMS battery market.
PMR has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global TPMS battery market. This market attractiveness index is expected to help clients identify real market opportunities in the global TPMS battery market.
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