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North America Heavy Commercial Vehicle (HCV) TMPS Market - Growth, Trends, and Forecasts (2023-2028)

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  • 90 Pages
  • April 2023
  • Region: North America
  • Mordor Intelligence
  • ID: 4828139
The North America Heavy Commercial Vehicle (HCV) TMPS Market is currently valued at USD 450 million and is anticipated to register a CAGR of over 4.5% during the forecast period.

The market will be driven primarily by the growth in heavy commercial vehicle sales in North America and the adoption of stringent trucking emissions and safety norms. For instance, in 2021, 12,058,515 commercial vehicles were sold in the US, with an increase of over 9.11% over 2020.

Manufacturing shutdowns, lockdowns, and trade restrictions during the COVID-19 pandemic negatively affected the automotive TPMS industry in the April-July 2020 period. Furthermore, the fall in automotive production and lack of labor significantly impacted the market. As automotive manufacturers resumed operations due to steadily rising commercial vehicle sales in North America, the market recovered in late 2020 and posted good growth in 2021, during the forecast market. Furthermore, the manufacturers implemented contingency plans to mitigate future business uncertainties and retain continuity with clients in the critical sectors of the automobile industry. For instance,

Key Highlights

  • In the spring of 2020, to comply with social distancing norms and other COVID-19 measures, Schrader TPMS Solutions, a TPMS brand of Sensata Technologies, started online training courses like TPMS e-Training on their new online training platform ww.TPMSAcademy.com. It covered topics like TPMS legislation, sensor types, installation best practices, programming, relearning, and more.

Over the long term, the growth in sales of TPMS for heavy commercial vehicles will be driven by an increase in heavy commercial vehicle sales in North America.

The adoption of stringent trucking emissions and safety norms and the introduction of electric trucks is further expected to induce growth in North America Heavy Commercial Vehicle TPMS market. For instance

Key Highlights

  • Under Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act of 200, a new Federal Motor Vehicle Safety Standard was established that requires the installation of tire pressure monitoring systems (TPMSs) in commercial vehicles to warn the driver when a tire is significantly under-inflated.
  • Similarly, in October 2016, the US Environmental Protection Agency (US EPA) and the National Highway Traffic Safety Administration (NHTSA) initiated Greenhouse Gas Emission (GHG) Phase 2. The Federal Phase 2 GHG regulation established federal GHG emissions standards and fuel economy requirements for new trailers and heavy-duty tractors. Those requirements include performance standards for box-type trailers, which manufacturers can meet by equipping such trailers with aerodynamic features. It reduces aerodynamic drag, low rolling-resistance (LRR) tires, tire pressure monitoring systems, and weight reduction measures. Such developments are expected to drive the market's future growth further.

Key market players are also introducing new TPMS systems, again anticipated to produce solid growth in the North America Heavy Commercial Vehicle (HCV) TPMS Market.

Key Highlights

  • In August 2022, Schrader TPMS Solutions announced that their EZ-Sensor line of TPMS systems is now compatible with electric vehicles.

Thus the factors mentioned above are anticipated to produce solid growth in North America Heavy Commercial Vehicle (HCV) TMPS Market.

North America HCV TPMS Market Trends

Rising sales of Commercial Vehicles in North America to drive the market

Heavy commercial vehicle sales are rising due to various reasons like the rising E-commerce industry, the increased logistics, and warehousing industry, and trucking, the most dominant form of overland freight transportation in North America. For instance, in 2021, Class 8 commercial truck sales reached 221,889 units, up by 15.62% over 2020.

Among all the accidents occurring on the road, nearly 40% can be attributed to under-inflated tires. Research by the National Highway Traffic Safety Administration in the US determined that vehicles with underinflated tires by more than 25% are more likely to be involved in an accident compared to a car with adequately inflated tires.

In addition, tires that are up to 25% underinflated are also prone to overheating, due to which the handling gets affected, eventually leading to tire failure. This scenario is frequently observed in heavy commercial vehicles. According to the statistics based on the tire pressure monitoring inflatable restraint systems, nearly 70% of national highway accidents in the US are due to tire blowouts. The possibility of mortality is almost 100% if the vehicle is speeding at over 70 mph.

However, from mid-2015, the end users of commercial vehicles gradually started installing TPMS through the aftermarket channel. According to the consumer survey, about 40% of North America's new commercial fleet sales were equipped with TPMS systems in 2021. In addition to passenger safety, there are additional benefits of TPMS, such as prolonged tire span, enhanced fuel efficiency, and reduction in the emission of greenhouse gases, among others. According to the Department of Energy report, there could be a drop in mileage, by 0.3%, for every one psi pressure drop in the tires. 3.56 million gallons of gasoline are wasted every day due to under-inflated tires.

Thus, the increasing consideration for safety among end users over the past few years led them toward adopting various technologies, of which TPMS is one of the most important, as it helps increase tire and fuel efficiency. Thus, with more vehicles going out on the roads, the market studied is projected to register healthy growth.

Another factor driving the market for TPMS systems for heavy commercial vehicles in North America is the rapid rise in the sales of electric trucks due to the adoption of stringent vehicle emission norms. For instance, in 2021, 122 heavy-duty or Class 8 electric trucks were delivered in the United States, a growth of 40.16% from 2020.

Such factors will likely contribute to the market's growth during the forecast period.

United States Dominated the Market

The US is anticipated to dominate the North America Heavy Commercial Vehicle (HCV) TPMS market in the North American region. According to some research studies, the US trucking industry contributes to about 85% of the entire trucking industry in North America.

The demand for HCV TPMS is expected to increase during the forecast period. Enactment of greenhouse gas emissions regulations on commercial vehicles by the US Environmental Protection Agency (US EPA) and the National Highway Traffic Safety Administration (NHTSA) is prompting fleet operators to integrate TPMS to improve efficiency and reduce carbon footprint.

According to the Freight Council of North America, about one out of five tucks/tractors operates with one or more tires underinflated by at least 20 psi which increases the risk of unexpected vehicle breakdown and damage and a delay in freight delivery. Maintaining proper tire inflation levels contributes to improved fuel efficiency, reduced tire wear, and long casing life. To increase fleet productivity, fleet operators are integrating TPMS.

The US CV market is witnessing a high growth rate, prompting commercial vehicle manufacturers to integrate driver-assistant features like automatic tire inflation systems, dual tire pressure equalizers, etc., in heavy-segment vehicles. It makes the driving and operating mechanism swift, safe, and efficient.

According to the US Department of Transportation, under-inflated tires release over 26 billion kg (57.6 billion lbs) of unnecessary carbon-monoxide pollutants into the atmosphere annually in the country alone. Moreover, the government is working with the transportation industry under an EPA SmartWay Transport program to voluntarily seek solutions to reduce emissions and improve freight transport fuel efficiency. The program expressly recognized the importance of proper tire inflation to reduce air pollution, propelling more and more fleet operators to integrate TPMS, and propelling the market growth during the forecast period.

In 2020, the aftermarket channel of TPMS had almost tripled in North American Market due to the deployment of pressure sensors in Cars and LCVs. Compared to the European Market, the North American region is mature enough to utilize TPMS in cars. A similar trend is anticipated in Heavy Commercial Vehicles with factory-fitted TPM systems over the coming 5-8 years.

Thus the factors mentioned above are further projected to maintain the status of the US as the largest market for heavy commercial vehicle TPMS systems in North America.

North America HCV TPMS Market Competitor Analysis

The Heavy Commercial Vehicle TPMS market in North America is moderately consolidated and is dominated by global and some local players. Some of the prominent players in the market are Bendix Commercial Vehicle Systems LLC, BH SENS Group, Doran Manufacturing, LLC., Valor, and Schrader TPMS Solutions, amongst others. These players engage in partnerships, new product launches, and mergers and acquisitions to cement their market positions. For instance
  • In August 2022, Schrader TPMS Solutions launched the new sensors PN29244 and PN29129 for the OE Aftermarket replacement segment.
  • In June 2022, Schrader TPMS Solutions launched PN 33600 EZ sensor with a silver fixed-angle clamp-in valve and PN 33610 EZ sensor with a black fixed-angle clamp-in valve.

Additional benefits of purchasing the report:

  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 Type
5.1.1 Direct TPMS
5.1.2 Indirect TPMS
5.2 Sales Channel
5.2.1 OEM
5.2.2 Aftermarket
5.3 Geography
5.3.1 North America United States Canada Rest of North America
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Bendix Commercial Vehicle Systems LLC (Knorr-Bremse Group)
6.2.2 BH SENS Group.
6.2.3 Doran Manufacturing, LLC
6.2.4 ZF Friedrichshafen AG
6.2.5 Valor
6.2.6 Schrader Electronic
6.2.7 Continental AG
6.2.8 Pacific Industrial
6.2.9 Denso Corp.
6.2.10 Alligator Ventilfabrik GmbH
6.2.11 Advantage Pressurepro
6.2.12 Bartec
6.2.13 Dill Air Control Products
6.2.14 Delphi Automotive PLC
6.2.15 STEMCO Products Inc.
6.2.16 Pressure Systems International, Inc.
6.2.17 TireStamp

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Bendix Commercial Vehicle Systems LLC (Knorr-Bremse Group)
  • BH SENS Group.
  • Doran Manufacturing, LLC
  • ZF Friedrichshafen AG
  • Valor
  • Schrader Electronic
  • Continental AG
  • Pacific Industrial
  • Denso Corp.
  • Alligator Ventilfabrik GmbH
  • Advantage Pressurepro
  • Bartec
  • Dill Air Control Products
  • Delphi Automotive PLC
  • STEMCO Products Inc.
  • Pressure Systems International, Inc.
  • TireStamp