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Strategic Analysis of the North American and European Tire Pressure Monitoring Systems Aftermarket

  • November 2014
  • -
  • Frost & Sullivan
  • -
  • 112 pages

Summary

Table of Contents

Market Size to Triple Over the Next 5 to 7 Years

This research service analyzes the tire pressure sensors aftermarket in North America and Europe. Frost & Sullivan forecasts high growth in both regions because of battery expiration in North America and winter tire sales in Europe. The study includes unit shipment and revenue forecasts; pricing, distribution channel, and market share analyses; market drivers and restraints; and demand factors such as vehicles in operation and age. The base year is 2013, with forecasts from 2014 through 2020. Historical data is included (2010-2012). The study also presents a technology roadmap for tire pressure monitoring systems, analyzing how adoption rates of competing products could impact sensor demand over the long term.

Key Findings
Tire pressure sensors is one of the fastest-growing product lines in the automotive aftermarket.
Total Tire Pressure Monitoring System Market: Key Takeaways, North America and Europe, 2013

1 Manufacturer-level revenue across both regions totaled $ million in 2013 on unit shipments of million. By 2020, Frost & Sullivan forecasts manufacturer-level revenue to total $ million on unit shipments of million, making tire pressure sensors one of the fastest-growing product lines in the automotive aftermarket.
2 The North American aftermarket is more mature than Europe’s, accounting for about % of 2013 unit shipments, because legislation mandating tire pressure monitoring systems (TPMS) takes effect to years sooner in the United States. By 2020, the European aftermarket will begin to catch up to North America and will account for approximately one-third of total unit shipments.
3 Application-specific, direct-fit sensors made up approximately % of unit shipments in North America and Europe in 2013, with universal-fit, programmable parts accounting for about 25% of demand. However, universal-fit sensors will gain considerable ground against direct-fit products in the coming years, which will reduce entry barriers for manufacturers, distributors, and installers, and increase the overall level of competition in the aftermarket.
4 Manufacturer-level prices are more than % higher in Europe than in North America because unit shipment volumes in Europe are still very low. However, prices in both regions will gradually decline as replacement rates rise, demand increases, and more competitors enter the aftermarket.
5 Original equipment suppliers (OES) is the largest sales channel because of low replacement rates over the historical period, making it a dealer part for most customers. That will change over the next to years because of battery expiration in North America and winter tire sales in Europe, causing warehouse distributors (WDs) in the independent aftermarket to carry TPMS sensors in larger volumes for resale to tire shops, service chains, and independent repair facilities.
6 Schrader International is the market leader in both regions because it supplies tire pressure sensors as original equipment to more automakers than any other manufacturer. It also has a larger network of WDs selling its parts. However, the company is likely to face increasing competition from low-cost suppliers of universal-fit sensors using offshore labor to underprice them.

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