Europe Tire Pressure Monitoring System Market (2024-2030) | Analysis, Size, Industry, Companies, Forecast, Value, Revenue, COVID-19 IMPACT, Outlook, Growth, Share & Trends

Europe Tire Pressure Monitoring System Market Highlights

Report Name	Europe Tire Pressure Monitoring System Market
Forecast Period:	2024-2030
CAGR:	6.2%
Growing Sector:	Passenger Cars

Topics Covered in Europe Tire Pressure Monitoring System Market Report 

Europe Tire Pressure Monitoring System Market report thoroughly covers the market by Types, Sales Channels, Vehicle Types, and Key Countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Europe Tire Pressure Monitoring System Market Synopsis 

The Europe Tire Pressure Monitoring System Market is witnessing considerable growth, driven by increasing vehicle safety standards and rising automotive production. According to 6Wresearch, the Europe Tire Pressure Monitoring System Market is projected to grow at a CAGR of 6.2% from 2024-2030. The passenger cars segment is the fastest growing sector, spurred by the mandatory installation of tire pressure monitoring systems (TPMS) in new vehicles. Enhanced safety awareness and the demand for better fuel efficiency are further propelling the market. Moreover, advancements in TPMS technology, including the integration of smart features, are enhancing the market's appeal.

However, the market faces challenges such as the high cost of TPMS and issues related to system reliability and maintenance. Additionally, the lack of standardization across different countries poses a barrier to the market's seamless growth. Counterfeit products in the aftermarket segment also impact the market adversely.

Europe Tire Pressure Monitoring System Market: Leading Players

Prominent players in the Europe Tire Pressure Monitoring System Market include Continental AG, Schrader International, and Huf Hülsbeck & Fürst GmbH & Co. KG. Continental AG is known for its advanced direct TPMS solutions. Schrader International offers a broad range of TPMS products catering to both OEMs and aftermarkets. Huf Hülsbeck & Fürst GmbH & Co. KG is a key player with innovative indirect TPMS solutions.

Europe Tire Pressure Monitoring System Industry: Government Initiatives

European governments have enacted several regulations to enhance vehicle safety, including mandatory TPMS installation in new vehicles. These policies aim to improve road safety and reduce accidents caused by tire issues. Furthermore, initiatives promoting the use of energy-efficient vehicles are indirectly boosting the demand for TPMS. Governments are also supporting research and development in automotive technologies, fostering innovation in TPMS features and applications.

Future Insights of the Market

The Europe Tire Pressure Monitoring System Market is anticipated to witness significant growth over the next five years. Market growth is expected to be driven by technological advancement like IoT in smart TPMS. Growing inclination towards energy-efficient automatic systems, coupled with increasing demand for smart and green appliances by concerned individuals is expected to influence the sales of eco-friendly models. In addition to this, the automotive industry will maintain high importance as more and more passenger cars and commercial vehicles incorporate premium TPMS varieties. Moreover, growth opportunities are significant within the residential segment as increasing preference for high-end vehicles among consumers would lift up demand. In brief, growth will be driven by innovation and sustainability-oriented focus in the market.

Market Segmentation by Types

According to Ravi Bhandari, Research Head, 6Wresearch, direct TPMS is leading the market due to its high accuracy and reliability in monitoring tire pressure across various vehicle types.

Market Segmentation by Sales Channels

OEMs are dominating the market as they are increasingly integrating TPMS in new vehicle models to comply with stringent safety regulations and enhance vehicle performance.

Market Segmentation by Vehicle Types

Passenger cars hold the largest market share due to the rising adoption of TPMS in this segment, driven by safety regulations and consumer demand for enhanced vehicle safety.

Market Segmentation by Key Countries

Germany leads the market with its robust automotive industry and the high adoption rate of advanced TPMS technologies across various vehicle segments.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.
• Key Highlights of the Report:                         
• Europe Tire Pressure Monitoring System Market Overview
• Europe Tire Pressure Monitoring System Market Outlook
• Europe Tire Pressure Monitoring System Market Forecast
• Historical Data of Europe Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Europe Tire Pressure Monitoring System Market Size and Europe Tire Pressure Monitoring System Market Forecast of Revenues and Volume, Until 2030
• Historical Data of Europe Tire Pressure Monitoring System Market Revenues and Volume, By Types, for the Period 2020-2030
• Market Size & Forecast of Europe Tire Pressure Monitoring System Market Revenues and Volume, By Types, Until 2030
• Historical Data of Europe Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, for the Period 2020-2030
• Market Size & Forecast of Europe Tire Pressure Monitoring System Market Revenues and Volume, By Sales Channels, Until 2030
• Historical Data of Europe Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, for the Period 2020-2030
• Market Size & Forecast of Europe Tire Pressure Monitoring System Market Revenues and Volume, By Vehicle Types, Until 2030
• Historical Data of Germany Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Germany Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of Italy Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Italy Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of France Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of France Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of United Kingdom Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of United Kingdom Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Historical Data of the Rest of Europe Tire Pressure Monitoring System Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of the Rest of Europe Tire Pressure Monitoring System Market Revenues and Volume, Until 2030
• Market Drivers and Restraints
• Europe Tire Pressure Monitoring System Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Europe Tire Pressure Monitoring System Market Share, By Players
• Europe Tire Pressure Monitoring System Market Share, By Regions
• Europe Tire Pressure Monitoring System Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation 

The report provides a detailed analysis of the following market segments:

By Types

• Direct Tire Pressure Monitoring System
• Indirect Tire Pressure Monitoring System

By Sales Channels

• Original Equipment Manufacturers (OEMs)
• Aftermarkets

By Vehicle Types

• Passenger Cars
• Commercial Vehicles

By Key Countries

• Germany
• Italy
• France
• United Kingdom
• Rest Of Europe