New York, United States , June 13, 2024 (GLOBE NEWSWIRE) -- The Global Automatic Tire Inflation System Market Size is to Grow from USD 81.99 Million in 2023 to USD 228.9 Million By 2033, at a Compound Annual Growth Rate (CAGR) of 10.81% during projected period.
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The automotive automatic tire inflation system market is the global or local market where several parts and accessories used in the industrial, maintenance, and customization of bicycles are bought and sold. Moreover, the global automotive automatic tire inflation system (ATIS) market states the manufacturing complex in the making and supply of systems designed to monitor and adjust tire pressure in vehicles mechanically. An automatic tire inflation system is a mainly designed safety system, which is used to regulate tire air pressure fill the tire in case of low air pressure and simultaneously release surplus air pressure from the vehicle tire while the vehicle is in motion. Moreover, Strict safety rules and ethics in several countries have strident automotive manufacturers to integrate advanced safety features, including tire inflation systems, to decrease accidents caused by underinflated tires. Moreover, improved fuel efficacy is significant for both customers and automakers. Properly inflated tires decrease rolling resistance, which can lead to enhanced fuel economy. Thus, an automotive automatic tire inflation system can aid automakers meet stringent fuel efficiency standards. However, the main constraint for automatic tire inflation system implementation is the moderately high initial cost of buying and installing the system. This can discourage some vehicle owners and manufacturers, mostly in price-sensitive markets. Automatic tire inflation systems need systematic maintenance and periodic repairs to confirm they function accurately.
Browse key industry insights spread across 203 pages with 110 Market data tables and figures & charts from the report on the "Global Automatic Tire Inflation System Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Central Tire Inflation, and Continuous Tire Inflation), By Vehicle Type (Commercial Vehicle, and Passenger Vehicle), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The central tire inflation segment is anticipated to hold the greatest share of the global automatic tire inflation system market during the projected timeframe.
Based on the product type, the global automatic tire inflation system market is divided into central tire inflation and continuous tire inflation. Among these, the central tire inflation segment is anticipated to hold the greatest share of the global automatic tire inflation system market during the projected timeframe. This can be attributed to the effectiveness of the central tire inflation system in handling tire pressure across numerous terrains.
The commercial vehicle segment is anticipated to hold the greatest share of the global automatic tire inflation system market during the projected timeframe.
Based on the vehicle type, the global automatic tire inflation system market is divided into commercial vehicles and passenger vehicles. Among these, the commercial vehicle segment is anticipated to hold the greatest share of the global automatic tire inflation system market during the projected timeframe. The reason behind this is the growing importance of maintenance cost-saving and operational efficiency.
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North America is expected to hold the largest share of the global automatic tire inflation system market over the forecast period.
North America is expected to hold the largest share of the global automatic tire inflation system market over the forecast period. This can be attributed to the extremely strong automobile manufacturing existing in this region, and it is a center for many automotive industry manufacturers. Similarly, there has been growing demand for fuel economy, prolonged tire life, and customer comfort resulting in the development of the installation of automatic tire inflation systems in vehicles.
Asia Pacific is predicted to grow at the fastest pace in the global automatic tire inflation system market during the projected timeframe. This is attributed to the economic expansion across countries like China and India has led to the swift development of commercial vehicle fleets. Apart from domestic demand, Asia Pacific is also developing as an export hub for automotive and logistic industries. This has amplified vehicle miles traveled and the importance of reducing operating expenditures.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. major vendors in the Global Automatic Tire Inflation System Market include Aperia Technology Inc., Parker Hannifin Corporation, Meritor Inc., Dana Limited, SAF HOLLAND SE, Hendrickson USA, FTL IDEX, Bigfoot Equipment LTD, ti systems GmbH, Goodyear Tire & Rubber Co., Michelin, Bremsen Technik Group, FTL/IDEX, VIGIA, and others.
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Recent Developments
- In April 2023, BFGoodrich Tires announced the BFGoodrich ActivAir, a fully integrated tire inflation system intended to improve off-road capabilities. The system allows drivers to adjust tire pressure without leaving their seats, providing convenience and flexibility in various off-road situations.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Automatic Tire Inflation System Market based on the below-mentioned segments:
Global Automatic Tire Inflation System Market, By Product Type
- Central Tire Inflation
- Continuous Tire Inflation
Global Automatic Tire Inflation System Market, By Vehicle Type
- Commercial Vehicle
- Passenger Vehicle
Global Automatic Tire Inflation System Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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