Europe Automotive TPMS Market
The market is poised to grow at a CAGR of 16.97% over the forecasted period. The market in Europe is expected to have a significant hold in the global automotive TPMS market by the end of 2022. TPMS is an electronic system designed to provide real-time information about tire pressure by monitoring the air pressure inside the tires. In addition, TPMS warns the driver about the number of tires that are underinflated. Disabling a TPMS or any other safety system on a vehicle will be considered as an offense as per EU regulations.
Europe’s Automotive TPMS Market- Market Dynamics
Europe is the second largest market for tire pressure monitoring systems. The EU TPMS regulations formulated in November 2012 have made it compulsory to install TPMS in all new passenger vehicles from November 2014.
Factors such as the adoption of stringent safety and fuel-efficiency regulations by governments/agencies in the European countries are helping to accelerate the demand for automotive TPMS systems significantly in many European countries. Tire blowouts because of underinflated and overinflated tires result in accidents and fatalities. The EU’s legislation has strict rules and norms to ensure vehicular safety and thereby has a mandate to keep a TPMS in the newly installed vehicle to start alerting the driver from a tire pressure of 7KPa and not 15KPa which was proposed previously. This has made governments and agencies incorporate and amend vehicle safety regulations accordingly. The demand for fuel-efficient vehicles and vehicles with reduced harmful emissions would help to drive the automotive TPMS market in the region.
The market for direct TPMS is expected to dominate the European market, and would significantly help to drive the TPMS market in the region. This is due to the inherent fuel efficiency advantages provided by the sensor technology in this form of TPMS. The rise in technological innovations in designing and developing universal TPMS sensors to ensure easy programming and configuration is one of the primary drivers of direct TPMS in this market. Though indirect TPMS are cheap and provide a substantial amount of warning to drivers, they are not efficient and cost effective in a regulated environment as that of Europe. The premium passenger vehicles segment is expected to constitute the highest share in the automotive TPMS market in Europe. With the demand for passenger vehicles equipped with safety features increasing, the demand for electronic TPMS in Europe region is expected to be significantly high in the region.
Some of the factors limiting the market growth are:
- Functional errors in TPMS, deterring consumers
- Lack of awareness of the advantages of TPMS
- Lack of awareness of safety requirements legislated by EU
- Installations made only in the OEM-fitted vehicles
- Low aftermarket in TPMS systems
The market is segmented by type, end user segment, vehicle type, and geography.
Some of the key players in the market are:
- Delphi Automotive LLP
- Hella KGaA Hueck & Co.
- ZF TRW
What the Report Offers
- Market definition along with identification of key drivers and restraints for the market.
- Market analysis with country-specific assessments and competition analysis in the Europe TPMS market.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on the regional scale and at the country level.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
- Identification and analysis of the macro and micro factors that affect the industry on both regional scale and at the country level.
1.1 Study Deliverables
1.2 Market Definition
1.3 Sizing Units
1.4 Base Currency
1.5 Review and Forecast Period Years
1.6 General Study Assumptions
1.7 New Developments in R&D/ Latest Technologies
2. RESEARCH METHODOLOGY
2.2 Analysis Methodology
2.3 Econometric Forecast Model
2.4 Research Assumptions
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW AND TECHNOLOGY TRENDS
5.1 Current Market Scenario
5.2 Technological Developments
5.3 Investment Analysis
5.4 Porter's Five Forces Framework
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products and Services
5.4.5 Competitive Rivalry within the industry
5.5 Drivers, Restraints, Opportunities and Challenges
5.6 Technology Trends
6. EUROPE AUTOMOTIVE TPMS MARKET, BY TYPE
6.1 Direct TPMS
6.2 Indirect TPMS
7. EUROPE AUTOMOTIVE TPMS MARKET, BY END USER SEGMENT
8. EUROPE AUTOMOTIVE TPMS MARKET, BY VEHICLE TYPE
8.1 Passenger Vehicles
8.2 Light Commercial Vehicles
8.3 Heavy Commercial Vehicles
9. EUROPE AUTOMOTIVE TPMS MARKET- BY GEOGRAPHY - Country Share and Forecasts
9.1.6 Rest of Europe
10. COMPETITIVE LANDSCAPE
10.1 Market Share Analysis
10.2 Organic and Inorganic Growth Strategies
10.3 Patent Analysis
10.4 The Challenges
10.5 Zero-Sum Quadrant
11. KEY VENDOR ANALYSIS
11.2 Pacific Industrial
11.3 Schrader Electronics
11.4 ALLIGATOR Ventilfabrik GmbH
11.5 Advantage PressurePro Enterprises Inc.
11.6 Alps Electric Co. Ltd.
11.7 Bartec Group
11.8 Bendix Commercial Vehicle Systems LLC
11.9 Delphi Automotive LLP
11.10 Dill Air Control Products
11.11 Freescale Semiconductor
11.12 Doran Manufacturing LLC
11.13 Hella KGaA Hueck & Co
11.14 Huf Electronics Bretten GmbH
11.15 Transense Technologies Plc
11.16 ZF TRW
11.18 Valor TPMS
12. FUTURE OUTLOOK OF THE MARKET