The tire pressure monitoring systems (TPMS) market is expected to expand due to rising consumer demand for safety and improved vehicle performance. TPMS refers to a system that monitors and provides real-time information on tire pressure, temperature and other parameters related to tire health. Such systems are designed to help drivers maintain optimal tire pressures and alert them in case of a failure or malfunction.

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Leading players in this market include Continental AG, Robert Bosch GmbH, Denso Corporation, Hella KGaA Hueck & Co., ATEQ TPMS Tools Inc., ITT Incorporated, Schrader International Limited, Pacific Industrial Co. Ltd., TRW Automotive Holdings Corp. and Hamaton Automotive Technologies Co. Ltd.