Global Automatic Tire Inflation System Market is Estimated to Grow at a CAGR of 9.7% during the forecast period 2018 - 2025 and account for US $ 2,029.9 MN by the year 2025
Published Date : 29/08/2018
Heavy Duty Vehicle Sub-segment is anticipated to Witness Incremental Value during the forecast period creating more opportunities for the manufacturers in the automatic tire inflation system market which is forecasted to grow at a CAGR of 9.7%
According to a new market research study titled ‘Automatic Tire Inflation System Market to 2025 – Global Analysis and Forecasts by Vehicle Type & Distribution Channel, the global market accounted to US$ 988.6 Mn in 2017 and is also estimated to reach US$ 2,029.9 Mn by 2025. The report highlights the trends prevalent in the global automatic tire inflation system market and the factors driving the market along with those that act as deterrents to its growth.
The heavy duty vehicle type market is continuously evolving with the introduction of new and innovative products and technologies. There is a surge in automatic tire inflation system demand among heavy duty vehicle type segment. This system provides improved monitoring and controlling of tire pressure of heavy duty vehicles, thereby helping the drivers and owners to lower the maintenance cost. The market is observing proliferation in the adoption of automatic tire inflation system among heavy duty vehicle types owing to increasing focus towards enhancing tire lifespans and fuel efficiencies of heavy duty vehicles. Although, utility vehicle type sub-segment is projected to represent fastest growth rate, but the heavy duty vehicle type sub-segment due to significant adoption and high market share is expected to create highest revenue opportunity over the forecast period.
The market for automatic tire inflation system globally has been segmented into two major segments including vehicle type, and distribution channel. Vehicle types segment is further fragmented by utility vehicles, tractors, and heavy duty vehicles. The distribution channel segment is bifurcated into OEM, and aftermarket distribution channel. Geographically the market is presently dominated by developed regions including North America and Europe. Higher sales of heavy duty commercial vehicles as well as owing to a booming construction sector, transportation sector, and the mining sector globally would demand higher integrations of ATIS into these systems. This growth coupled with the imposed regulations by the regulatory authorities across the globe and environmental agencies is anticipated to impact in unison for growing ATIS integrations at the automotive OEM end.
The market for automatic tire inflation system is highly consolidated with only a handful players operating in the market. Also, new entrants and smaller players are trying to come up with innovative solutions and strategic partnerships as well as different business models to attract large base of customers. The major companies operating in the market includes Continental AG, Dana Limited, STEMCO Products, Inc., Meritor, Inc., and Hendriksson. Also, Pressure Guard Systems, Haltec Corporation, Aperia Technologies, Inc., Tire Pressure Control, and Michelin are few other players that are investing into the technological innovations for rolling out technology in the near future.
The report segments the global Automatic Tire Inflation System market as follows:
Global Automatic Tire Inflation System Market – By Vehicle Type
Heavy Duty Vehicles
Global Automatic Tire Inflation System Market – By Distribution Channel
Global Automatic Tire Inflation System Market – By Geography
Asia Pacific (APAC)
Middle East and Africa (MEA)
South America (SAM)
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