Market Size of Europe Automotive Tpms Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Automotive TPMS Market Analysis
The Europe Automotive TPMS Market is expected to register a CAGR of more than 10 % during the forecast period, 2020-2025.
- Significant factors such as consumer preference toward advanced driver assistance systems, the spike in the sales of luxury vehicles, and the growing number of accidents and subsequent road fatalities have prompted the regulatory authorities to mandate the TPMS in automobiles. There is a positive net effect in luxury car registrations from 2018 to 2019, as volume jumped from 2.29 million to 2.35 million in 2019.
- Despite the weak growth rate of the passenger vehicle segment in Europe, the market for premium luxury vehicles is expected to increase significantly in countries like Germany and Italy. Luxury vehicles are expected to witness a steady growth rate across the entire passenger vehicle segment. With TPMS fitted in a majority of these vehicles, the passenger vehicle segment is poised to drive the market for automotive TPMS significantly.
- Companies, like Continental AG and Huf Hülsbeck & Fürst GmbH & Co. KG, are now producing TPMS systems for high-end models of automakers, such as Toyota, Lexus, BMW, Volkswagen, Hyundai, Chrysler, Jeep, and Rolls Royce all across Europe. With the growing consumer demand for vehicles with advanced safety features, TPMS is highly anticipated to be available as a standard in C-segment hatchbacks, Sedans, and SUVs.
Europe Automotive TPMS Industry Segmentation
The Europe Automotive TPMS Market covers the current and upcoming trends with recent technological developments. The report will provide a detailed analysis of various areas of the market by vehicle, technology and sales channel. The market share of significant TPMS manufacturing companies and country level analysis will be provided in the report.
| Vehicle Type | |
| Passenger Car | |
| Commercial Vehicle |
| Type | |
| Direct TPMS | |
| Indirect TPMS |
| Sales Channel | |
| OEM | |
| Aftermarket |
| Countries | |
| Germany | |
| United Kingdom | |
| France | |
| Italy | |
| Rest of Europe |
Europe Automotive Tpms Market Size Summary
The Europe Automotive TPMS market is experiencing significant growth, driven by increasing consumer demand for advanced driver assistance systems and the rising sales of luxury vehicles. Regulatory mandates for tire pressure monitoring systems (TPMS) in automobiles are further propelling market expansion, as these systems are integral to enhancing vehicle safety and reducing road fatalities. Despite a sluggish growth rate in the passenger vehicle segment, the premium luxury vehicle market is poised for substantial growth, particularly in countries like Germany and Italy. This trend is expected to bolster the TPMS market, as these vehicles increasingly come equipped with these systems. Companies such as Continental AG and Huf Hülsbeck & Fürst GmbH & Co. KG are actively producing TPMS for high-end models across Europe, responding to the growing consumer preference for vehicles with advanced safety features.
The TPMS market in Europe is characterized by the presence of both direct and indirect systems, with direct systems gaining traction due to their ability to provide accurate air pressure data and detect both slow and rapid pressure losses. The European Union has been proactive in mandating TPMS adoption, with Germany leading efforts to improve fuel efficiency and road safety. The market is dominated by key players like Continental AG, Huf Hülsbeck & Fürst GmbH & Co. KG, and ZF Friedrichshafen AG, who are engaging in partnerships and joint ventures to maintain a competitive edge. Notable collaborations, such as the one between Huf Hülsbeck & Fürst GmbH & Co. KG and Shanghai Baolong Automotive Group, aim to enhance TPMS offerings for original equipment manufacturers and the automotive aftermarket. These strategic moves are expected to drive innovation and expand the market presence of TPMS in Europe.
Europe Automotive Tpms Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Vehicle Type
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2.1.1 Passenger Car
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2.1.2 Commercial Vehicle
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2.2 Type
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2.2.1 Direct TPMS
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2.2.2 Indirect TPMS
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2.3 Sales Channel
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2.3.1 OEM
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2.3.2 Aftermarket
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2.4 Countries
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2.4.1 Germany
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2.4.2 United Kingdom
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2.4.3 France
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2.4.4 Italy
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2.4.5 Rest of Europe
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Europe Automotive Tpms Market Size FAQs
What is the current Europe Automotive Tpms Market size?
The Europe Automotive Tpms Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Europe Automotive Tpms Market?
Huf Hülsbeck & Fürst GmbH & Co. KG, Continental AG, ZF Friedrichshafen AG, Dunlop Tech GmbH and Schrader Electronics are the major companies operating in the Europe Automotive Tpms Market.
