TPMS Battery Market
Global Market Study on TPMS Battery: Regulations Concerning Road Safety to Drive Revenue Growth
TPMS Battery Market Segmented By CR Type Battery and BR Type Battery in Lithium ion, Nickel Metal Hydride
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.
Find Out More about the Report Coverage
- Murata Manufacturing Co., Ltd.
- Panasonic Corporation
- Maxell, Ltd.
- Duracell Inc.
- The Swatch Group (Renata SA)
- BE-POWER GmbH
- EVE Energy Co., Ltd.
- Guangzhou Mai Sheng Energy Technology Co Ltd
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.
Customize this Report
Explore Intelligence Tailored to Your Business Goals.
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.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
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.
Explore Persistence Market Research’s expertise in promulgation of the business !
TPMS battery market 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.
TPMS Battery Market Global Industry Analysis