The automatic tire inflation system market is projected to reach US$ 2283 Mn in 2027, expanding at a CAGR of 11.54% across the forecast period of 2019 to 2027.
Product Insights:
The global automatic tire inflation system market is projected to reach US$ 2283 Mn in 2027, expanding at a CAGR of 11.54% during the forecast period of 2019 to 2027. In the last decade, the global automotive industry has focused more on developing technologies which can make traveling safer and more secure. Automatic tire inflation system (ATIS) is one such technology which can monitor the tire pressure at a preset value throughout the journey of vehicle. Technological up-gradation in a tire pressure monitoring system and consumers demand for more safety in vehicles is driving the market of automatic tire inflation system globally.
Road accidents are one of the major causes of deaths across the world. As per the report Global Status Report on Road Safety 2018, by the World Health Organization, accidents and injuries on roads accounted as the 8th major cause of death. In the year 2016 alone, there were approximately 1.35 million deaths recorded across the world which were due to road accidents. As a result, safe travel is a major concern of people across the world. In this regard, an automatic tire inflation system is very helpful in maintaining proper tire pressure. The accurately inflated tire can result in having a safe traveling experience for drivers of trucks, tractors, etc. Automatic tire inflation system, based on product type was dominated by a central tire inflation system (CTIS) in 2018. A central tire inflation system offers better control of vehicle pressure than a continuous tire inflation system. In this type of system, the driver has access to reduce or increase tire pressure depending upon the road surface condition. Also, with a central tire inflation system driver can adjust tire pressure as per load on vehicle and speed with which vehicle is moving. Such flexibility offered by CTIS is highly preferred by vehicle owners. Owing to the aforementioned benefits, the segment is expected to grow substantially during the forecast period from 2019 to 2027.
Further, based on geography, North America registered the largest market share in an automatic tire inflation system market in 2018. North American region has well-established automotive industry and has a large number of automotive OEMs manufacturers which is thereby aiding the market growth. For instance, Pressure Systems Internationals, Inc., Meritor, Inc., etc., among others are some of the major players of ATIS in the region. Moreover, government regulations for mandatory installation of tire pressure monitoring systems on vehicles further drive the market of automatic tire inflation system in North America. Regulations such as “Motor vehicle Tire Safety Regulations” of Canada have asked tire manufacturers to state the maximum pressure, maximum load and expiry date on the tire so that this can help drivers to maintain their tires in a better way.
Competitive Insights:
Some of the major players profiled in the automatic tire inflation system market include Stemco Products Inc., Pressure Systems International, Inc., Dana Limited, Haltec Corporation, ti.systems GmbH, PressureGuard, Precision Inflation LLC, Hendrickson USA, L.L.C, Meritor, Inc., Aperia Technologies, Inc., Michelin North America Inc., etc., among others.
These players are adopting different strategies like new product development for increasing their market share. For instance, in March 2019, Pressure Systems International, Inc. had launched their new tire pressure monitoring system TireView for trucks, tractors, and trailers. This system offers features like connected vehicle telematics for better fleet management and can also combine with the latest ATIS for trailer.
Additionally, players are also acquiring and partnering with other companies for increasing their geographical presence. For instance, in January 2019, Luxembourg based commercial vehicle supplier SAF-HOLLAND S.A. acquired majority stakes in PressureGuard, a manufacturing firm of tire pressure monitoring system, based in Tennessee. This acquisition will further strengthen the market position of PressureGuard in North American region.
This product will be delivered within 2 business days.
Product Insights:
The global automatic tire inflation system market is projected to reach US$ 2283 Mn in 2027, expanding at a CAGR of 11.54% during the forecast period of 2019 to 2027. In the last decade, the global automotive industry has focused more on developing technologies which can make traveling safer and more secure. Automatic tire inflation system (ATIS) is one such technology which can monitor the tire pressure at a preset value throughout the journey of vehicle. Technological up-gradation in a tire pressure monitoring system and consumers demand for more safety in vehicles is driving the market of automatic tire inflation system globally.
Road accidents are one of the major causes of deaths across the world. As per the report Global Status Report on Road Safety 2018, by the World Health Organization, accidents and injuries on roads accounted as the 8th major cause of death. In the year 2016 alone, there were approximately 1.35 million deaths recorded across the world which were due to road accidents. As a result, safe travel is a major concern of people across the world. In this regard, an automatic tire inflation system is very helpful in maintaining proper tire pressure. The accurately inflated tire can result in having a safe traveling experience for drivers of trucks, tractors, etc. Automatic tire inflation system, based on product type was dominated by a central tire inflation system (CTIS) in 2018. A central tire inflation system offers better control of vehicle pressure than a continuous tire inflation system. In this type of system, the driver has access to reduce or increase tire pressure depending upon the road surface condition. Also, with a central tire inflation system driver can adjust tire pressure as per load on vehicle and speed with which vehicle is moving. Such flexibility offered by CTIS is highly preferred by vehicle owners. Owing to the aforementioned benefits, the segment is expected to grow substantially during the forecast period from 2019 to 2027.
Further, based on geography, North America registered the largest market share in an automatic tire inflation system market in 2018. North American region has well-established automotive industry and has a large number of automotive OEMs manufacturers which is thereby aiding the market growth. For instance, Pressure Systems Internationals, Inc., Meritor, Inc., etc., among others are some of the major players of ATIS in the region. Moreover, government regulations for mandatory installation of tire pressure monitoring systems on vehicles further drive the market of automatic tire inflation system in North America. Regulations such as “Motor vehicle Tire Safety Regulations” of Canada have asked tire manufacturers to state the maximum pressure, maximum load and expiry date on the tire so that this can help drivers to maintain their tires in a better way.
Competitive Insights:
Some of the major players profiled in the automatic tire inflation system market include Stemco Products Inc., Pressure Systems International, Inc., Dana Limited, Haltec Corporation, ti.systems GmbH, PressureGuard, Precision Inflation LLC, Hendrickson USA, L.L.C, Meritor, Inc., Aperia Technologies, Inc., Michelin North America Inc., etc., among others.
These players are adopting different strategies like new product development for increasing their market share. For instance, in March 2019, Pressure Systems International, Inc. had launched their new tire pressure monitoring system TireView for trucks, tractors, and trailers. This system offers features like connected vehicle telematics for better fleet management and can also combine with the latest ATIS for trailer.
Additionally, players are also acquiring and partnering with other companies for increasing their geographical presence. For instance, in January 2019, Luxembourg based commercial vehicle supplier SAF-HOLLAND S.A. acquired majority stakes in PressureGuard, a manufacturing firm of tire pressure monitoring system, based in Tennessee. This acquisition will further strengthen the market position of PressureGuard in North American region.
This product will be delivered within 2 business days.
Table of Contents
1. Preface
2. Executive Summary
3. Market Dynamics
4. Global Automatic Tire Inflation System Market, by Product Type , 2017 – 2027 (US$ Mn)
5. Global Automatic Tire Inflation System Market, by Vehicle Type, 2017 – 2027 (US$ Mn)
6. Global Automatic Tire Inflation System Market, by Sales Channel, 2017 – 2027 (US$ Mn)
7. North America Automatic Tire Inflation System Market Analysis, 2017 – 2027 (US$ Mn)
8. Europe Automatic Tire Inflation System Market Analysis, 2017 – 2027 (US$ Mn)
9. Asia Pacific Automatic Tire Inflation System Market Analysis, 2017 – 2027 (US$ Mn)
10. Rest of the World Automatic Tire Inflation System Market Analysis, 2017 – 2027 (US$ Mn)
11. Company Profiles
Companies Mentioned
- Stemco Products Inc.
- Pressure Systems International, Inc.,
- Dana Limited
- Haltec Corporation
- ti.systems GmbH
- PressureGuard
- Precision Inflation LLC
- Hendrickson USA, L.L.C
- Meritor, Inc.
- Aperia Technologies, Inc.
- Michelin North America Inc.
