Europe Automotive Tpms Market Size

Statistics for the 2023 & 2024 Europe Automotive Tpms market size, created by Mordor Intelligence™ Industry Reports. Europe Automotive Tpms size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Europe Automotive Tpms Industry

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Europe Automotive Tpms Market_Overview
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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

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*Disclaimer: Major Players sorted in no particular order

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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 Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)