Automatic Tire Inflation System Market Scope
Automatic tire inflation system refers to the system which provides control over the air pressure in each tire of a vehicle according to the road surface, vehicle load, vehicle type, type and size of the tire. The increasing number of accidents driving the demand for the improved automatic tire inflation system as it reduces the tire wear and increases the tire life. Further, increasing government initiatives for road safety and automation in the automotive industry expected to drive the demand for automatic tire inflation system over the forecasted period.
According to AMA, the Global Automatic Tire Inflation System market is expected to see growth rate of 7.78% Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Automatic Tire Inflation System market throughout the predicted period.
WABCO (Belgium), EnPro Industries (United States), Michelin (France), Goodyear (United States), Dana Incorporated (United States), Hendrickson USA, L.L.C (United States), Meritor, Inc. (United States), STEMCO Products Inc. (United States), Pressure Systems International, Inc. (United States), Continental AG (Germany), Denso Corporation (Japan) and Aperia Technologies, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Haltec Corporation (United States), Michelin North America Inc. (United States) and Ti.systems GmbH (Germany).
Segmentation Overview
The study have segmented the market of Global Automatic Tire Inflation System market by Type (Central Tire Inflation System and Continuous Tire Inflation System) and Region with country level break-up.
On the basis of geography, the market of Automatic Tire Inflation System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Emphasizing On Automation in the Automotive Industry and Rise in Demand for Automatic Tire Inflation System for Commercial Vehicles
Market Growth Drivers:
Maintains Tire Pressure While Increasing Tire Life and Reduces the Tire Wear and Rising Concern Regarding Vehicle Safety and Efficiency
Challenges:
Growing Demand for Nitrogen and Tubeless Tires
Restraints:
High Cost Associated With Automatic Tire Inflation System and High Initial Investment of Automatic Tire Inflation System
Opportunities:
Rise in Demand from the Emerging Countries and Increasing Demand for Automatic Tire Inflation System as it Reduces Vehicle Emission
Market Leaders and their Expansionary Development Strategies
In April 2022, Michelin acquired PTG and Téléflow, continuing its expansion to become the global leader in central tire pressure systems for the agricultural market.
In February 2022, Meritor, Inc. announced that its long-term contract with Wabash had been extended through December 31, 2026. This extension is Meritor's first five-year contract signed with Wabash. Under the newly signed agreement, Meritor slack axles will continue to be standard equipment.
Key Target Audience
Automotive Automatic Tire Inflation System Manufacturers, Automotive Component Manufacturers, Automobile Manufacturers, Automotive Technology Providers, Distributors and Suppliers of Automotive Automatic Tire Inflation System, Electric Vehicle Manufacturers, Industry Associations and Automotive Experts, Tier 1, Tier 2, and Tier 3 Suppliers and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.