Automatic Tire Inflation System Market: Current Analysis and Forecast (2022-2028)

Automatic Tire Inflation System Market: Current Analysis and Forecast (2022-2028)

Global Automatic Tire Inflation System Market is expected to grow at a significant rate of around 13% during the forecast period. The autonomous tire inflation system can prolong the life of a vehicle by maintaining the required air pressure in the tire, boosting fuel efficiency, cutting down on the time and expense associated with tire replacement, and reducing wear. Additionally, the industry is expanding because of factors like growing vehicle safety concerns and enhanced tire life spans. Furthermore, maintaining the correct tire pressure, which depends on the road, the load, the size of the vehicle, and other factors, is made possible by this contemporary tire inflation system. Moreover, the increasing agricultural and commercial activities are raising the adoption of heavy commercial vehicle and it requires extra care of the tires.

Dana Incorporated, Meritor Inc., Nexter Group, Hendrickson USA L.L.C., Tire Pressure Control, nternational Ltd., Aperia Technologies Inc., Systems GmbH, Tibus Offload Ltd. & Co. KG, FTL Technology Limited, Col-Ven S.A. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst product type, central tire inflation category to witness robust CAGR during the forecast period”

Based on product type, the market is segmented into central tire inflation and continuous tire inflation. central tire inflation category to witness higher CAGR during the forecast period. Moreover, to increase the performance of a vehicle's tires, a central tire inflation system regulates the air pressure in each tire individually. The market is expanding because of factors including increased productivity, mobility, and efficiency for vehicles traveling on different surfaces
"Amongst application, the heavy-duty vehicle to hold a significant share in the market in 2020”

Based on application, the market is categorized into the light-duty vehicle and heavy-duty vehicles. Among these, the heavy-duty vehicle to hold a significant share in the market in 2020. The rising adoption of agricultural activities, import, and export of goods, and advancement in the population are driving the growth of the market. In addition, the heavy-duty vehicle is mostly used to carry the load and has the requirement of the extra care to the tires.
"North America to hold a significant share in the market”

In 2020, North America held a significant share of the global market. This is mainly attributed to the increasing recreational expenditure and the rising number of off-roading events driving the region’s automotive tire inflation system market. Moreover, the growing preference of the youth toward adventure and off-road events and the availability of a wide range of products across varied prices are the factors that drive the growth of the industry. In addition, the growing interest in agricultural and commercial activities require heavy-duty vehicle. Moreover, it is expected that the market will continue to grow at a steady rate during the forecast period owing to the high-income levels of the consumers in the region coupled with rising awareness about the importance of safety and the advanced features in the vehicle.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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