MOUNTAIN VIEW, Calif.—A new study estimates the North American and European tire pressure monitoring systems market will reach $386.6 million in value by 2018.
That compares with a $111.7 million market in 2011, market research firm Frost & Sullivan said. All new vehicles in North America have been equipped with TPMS since 2007.
"By 2014, nearly 38 percent of vehicles in North America will feature TPMS—a 13-percent increase from 2011—thus, increasing the addressable market size," said Kumar Saha, Frost & Sullivan industry analyst. "In Europe, the TPMS installed base, though much lower, is expected to more than double by 2014 due to supportive legislation."
As more European countries like Turkey, Poland, and Belgium add winter tire legislation, revenues from TPMS will increase, the report said.
The study is available by contacting Jeannette Garcia at [email protected]