The global automatic tire inflation system market is expected to reach at US$ 2283 Mn with a CAGR of 11.54% during the forecast period from 2019 to 2027. Automatic tire inflation system (ATIS) is used to maintain appropriate air pressure on each tire of a vehicle. An underinflated tire pressure can be dangerous for personal as well as for the vehicle. If the air pressure is low, larger surface of tire touches the road, which thereby increases tire friction. This increased friction overheats the tire and could lead to tread separation and blowouts. Thus, under-inflation can cause early failure of tire and may increase the chances of mishap. Automatic tire inflation system (ATIS) has the ability to cure this problem of underinflation in a particular tire. It is used to maintain proper air pressure throughout the journey and helps in minimizing the risk of accident. Growing awareness about improving vehicle efficiency and push from governments of various countries such as US and UK for mandatory installation of tire pressure monitoring system are some of the major factors driving the global automatic tire inflation system market.
According to National Highway Traffic Safety Administration (NHTSA), underinflated tire is a major cause of accidents in U.S. In 2017, there were 738 deaths occurred in tire related crashes. Moreover, an underinflated tire can decline fuel economy of vehicle. As per NHTSA study, only 19% of consumers properly inflate their tires. This practice can save almost 11 cents on each gallon of fuel used by vehicle. In addition to this, a properly inflated tire can add approximately 4700 miles to an average life of a tire.
In times of extreme braking situations, an underinflated tire get easily deformed. Also, in case of overinflated tire, less area is in contact with surface due to bulging of central portion of tire. This results into longer stopping distance of vehicle than in normal condition where tire is correctly pressurized. Longer stopping distance increases the chances of mishap which can be avoided by maintaining proper tire pressure using automatic tire inflation system. As a result, to avoid the accident rate and mishap of the vehicle, automatic tire inflation system have gained immense popularity. This in turn is boosting the market for automatic tire inflation system worldwide.
Market Snapshot
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"Central Tire Inflation System accounted for the Largest Market Share in 2018"
Central tire inflation system (CTIS) is mostly used in commercial vehicles such as trucks, tractors, buses and coaches. Unlike continuous tire inflation system, central tire inflation system offers better flexibility with monitoring of pressure in all tires of a vehicle. As per terrain of road, driver has on-board facility to adjust the tire pressure in the central tire inflation system type. On the contrary, continuous tire inflation system, mostly used in trailers, does not provide flexibility in comparison to its counterpart since it is responsible in maintaining the preset constant pressure. With this system, driver has no ability to change or check tire pressure from the cabin. Whereas, CTIS can compensate for minor leaks on tire and reduce the downtime by continuing the operation of vehicle. Considering the aforementioned factors central tire inflation system is expected to grow at a significant growth during the forecast period from 2019 to 2027.
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"North America Registered Largest Market Share in 2018"
In 2018, North America led the automatic tire inflation system market worldwide. The region is expected to witness a considerable growth during the forecast period from 2019 to 2027. North America is a house to number of automatic tire inflation system manufacturing companies like Stemco Products Inc., Pressure Systems International, Inc., Dana Limited, Aperia Technologies, Inc., etc., among others. These companies are investing in R&D for innovating their existing products and are also focusing on developing new product to increase its capability for tire maintenance. For instance, in March 2019, Aperia Technologies, Inc. has introduced their new product Halo Connect which will use machine learning algorithm to virtually eliminate tire-related downtime.
Furthermore, regulations such as Transportation Recall Enhancement Accountability Documentation (TREAD) Act of USA for installation of tire pressure monitoring system in new passenger cars and light trucks.
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Competitive Insights
Major players profiled in 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 companies are entering into partnerships and acquiring other players to increase their market strength. For instance, in April 2017, ATIS manufacturer Pressure Systems International, Inc. announced the acquisition of Truck System Technologies (TST) Inc., a provider of tire pressure monitoring system. This acquisition will help to increase the portfolio of company and also increase their market share.
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
Automatic tire inflation system market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global automatic tire inflation system market based on product type, vehicle type, sales channel and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Product Type Segment (2017-2027; US$ Mn)
• Central ATIS
• Continuous ATIS
|
|
Vehicle Type Segment (2017-2027; US$ Mn)
• Passenger Cars
• Commercial Vehicles
|
|
Sales Channel Segment (2017-2027; US$ Mn)
• OEMs
• Aftermarket
|
|
Geography Segment (2017-2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of APAC)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of automatic tire inflation system market in 2018 and forecast up to 2027?
- What are the key factors driving the global automatic tire inflation system market?
- What are the key market trends and high-growth opportunities observed in the automatic tire inflation system market?
- Which is the largest regional market for automatic tire inflation system market?
- Which segment will grow at a faster pace? Why?
- Which region will drive the market growth? Why?
- Which players are leading the automatic tire inflation system market?
- What are the sustainability strategies adopted by the key players operating in the market?
