Report: European TPMS market to be worth 531.7 million euros by 2020

The European tyre pressure monitoring systems (TPMS) market could be worth 531.7 million euros by 2020, according to a report published on 23 January by Research and Markets. The European TPMS market is expected to grow at a compound annual growth rate (CAGR) of 30.4 per cent. Recognising that this is a departure from the status quo, the reports writers are forecasting that the market will be made up of “a consistent level of technology mix of both direct and indirect systems” during the next six, the reports writer suggest that there is a trend towards indirect systems as a result of the introduction of second-generation indirect technology. Almost 91 per cent of revenues from TPMS in are generated by direct TPMS at the moment.