Dublin, May 04, 2022 (GLOBE NEWSWIRE) -- The "Global Automatic Tire Inflation Systems Market by Type (Central, Continuous), On-Highway Vehicle (LDV, HDV), Off-Highway (Agriculture, Construction), EV (BEV, PHEV, FCEV), Sales Channel (OEM, Aftermarket), Component & Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global automatic tire inflation systems market is projected to grow from USD 53 Million in 2021 to USD 108 million by 2027, at a CAGR of 12.5 %
There has been a significant increase in vehicle production over the years. However, in 2020, factors like COVID-19, regional disparities, weakness in economy, and lagging vaccination timetables, particularly in poor countries, resulted in the decline in global vehicle production.
However, a strong rebound in global vehicle production with the recovery of major industries across the globe since the middle of last year has helped soften the impact of the pandemic for automotive industry. The global economic recovery is also expected to be fueled by the higher production of vaccines and vaccination rates, allowing businesses to reopen more quickly.
Heavy duty vehicle segment accounts for the largest share in the ATIS market, as heavy trucks are used for logistics purpose and need properly inflated tires always
The Heavy vehicle segment is estimated to lead the market in terms of value during the forecast period due to the higher demand for ATIS systems in heavy duty vehicles. The increase in tire life and fuel efficiency is the key factor driving the growth of the automatic tire inflation system market in heavy duty vehicles.
>100 HP agricultural tractors & construction equipment employs ATIS, and the demand is expected to increase in future
The farm vehicles sector holds the largest share in off-highway vehicle segment. These vehicles require low tire pressure for better operation and high fuel efficiency. When tire pressure reduces, the footprint of the tire becomes broader, and the load gets circulated over a larger area.
Load circulation helps decrease the motion resistance in soft soils. As the tire pressure reduces, the fuel efficiency and performance of the tires improve. The automatic tire inflation system lowers the tire pressure of agricultural tractors, which results in better fuel efficiency and high performance. The farm tractors ATIS market is anticipated to grow from USD 9.3 million in 2021 to USD 20.8 million by 2027, at a CAGR of 14.5%.
OE fitted ATIS are first preference of the customers, as it is customized as per the vehicle axles and transmission design
The OEM segment holds the largest share in sales channel in ATIS market. The OEM segment is projected to grow from USD 53.4 million in 2021 to USD 108.4 million by 2027, at a CAGR of 12.5% during the forecast period.
OEMs are employing the ATIS system in vehicles and are designing the chassis as per the requirement of the ATIS system. The demand for ATIS in the OE market is growing due to the increased tire blowouts and improved tire life and fuel efficiency.
Vehicle electrification in heavy duty segment is going to drive the ATIS market in Electric Vehicle segment
The growing demand for Electric vehicles especially in the heavy duty category is expected to increase the ATIS demand. This is because vehicle electrification would lead to more demand for increased range and battery efficiency in the vehicle. This is expected to drive growth for the ATIS market globally.
These ATIS systems completely enhance performance of EV, thereby driving its market. This market is seen to dominated especially by ATIS for Battery Electric Vehicles (BEV) which is set to see a CAGR of 59.5 % and set to grow from USD 0.6 million in 2021 to USD 6.3 million in 2027.
North America is projected to be the highest growing regional market
The market in the North America region is projected to be the largest. The North America region comprises the North America, Canada and Mexico. The increase in demand for on-highway segment vehicles in United States has also contributed to the growth of the ATIS market in this region. The increasing number of commercial trailers is expected to boost the growth of the ATIS market.
In 2021, the US was the largest market for automatic tire inflation systems for on-highway vehicles in the region, with a market share of 93.1%, followed by Canada (4.7%) and Mexico (2.2%). North America is the largest manufacturer of light commercial vehicles. In the coming years, the region is expected to witness growth in the automatic tire inflation system market for all vehicle types.
Dana Incorporated (US), MICHELIN (France), IDEX Corporation (US), Enpro Industries (US), MERITOR (US), SAF-HOLLAND (Germany), and CLAAS (Germany) are the prominent players in the automatic tire inflation system market.
Premium Insights
- Increased Demand for Safety Features and Fuel Efficiency Expected to Drive Market
- Central Tire Inflation System Segment Expected to Grow at a Higher Rate from 2021 to 2027
- ECU System Segment Projected to Lead Market During Forecast Period
- Heavy-Duty Vehicles Segment to Lead Market During Forecast Period
- Agriculture Tractors Segment Expected to Grow at a Higher CAGR During Forecast Period
- BEV Segment Expected to Lead Market from 2021 to 2027
- OEM Segment to Lead Market During Forecast Period
- North America Projected to Lead Market from 2021 to 2027
Market Dynamics
Drivers
- Increase in Performance and Fuel Economy of Vehicle
- Improves Performance on Different Driving Surfaces
- Increase in Demand for Safety Features in Vehicles
- Increase in Fuel Economy
- Increase in Tire and Drivetrain Life
- Rise in Integration of Telematics in Vehicles
Restraints
- Increasing Demand for Airless and Nitrogen Inflated Tires
Opportunities
- Favorable Government Regulations for Tire Inflation
Challenges
- High Cost of Automatic Tire Inflation System
Case Studies
- Case Study: Central Tire Inflation System for Off-Highway Vehicles
- Case Study: Central Tire Inflation System for Farming Equipment
- Case Study: Boosting Yields, Efficiency & Tire Life with the Push of a Button
- Case Study: CTIS is Best Choice to Ensure That Operators Adapt Tire Inflation Pressure Regularly
Companies Mentioned
- Air CTI
- Airgo System
- Bigfoot Equipment
- CLAAS Group
- Dana Incorporated
- Enpro Industries
- Goodyear Tire & Rubber Company
- HALTEC Corporation
- IDEX Corporation
- Meritor
- Michelin
- Nexter System
- Opladen LLC
- Pressure Systems International
- Raytech Group
- Rotex Automation
- SAF-Holland
- Servitech Industries
- The Boler Company
- TI Systems
- Tibus Offroad
- Trans Technologies Company
- Velocity
- Vigia
For more information about this report visit https://www.researchandmarkets.com/r/8lqe7z
Attachment
