The automatic tire inflation system market is experiencing significant growth and adoption rate in the recent years and is expected to experience notable growth and adoption in years to come. The global automatic tire inflation system market is experiencing an intense growth with regards to the investments, stringent regulations, trials being carried out in different off-road vehicles and deployment for future in the current scenario and is anticipated to rise in the coming years. The automatic tire inflation system market consists of a handful of well-established players across the globe, which invest huge amounts in order to deliver the most advanced service to the customers. Also, there are few important stakeholders in the automatic tire inflation system ecosystem that are involved in the end-to-end development of automatic tire inflation system technology and ensuring that the best service is made available for the users. Government funding for research & development, strategic partnerships between technology providers and tire manufacturers, technology providers and automotive OEMs are anticipated to enable huge surges in the automatic tire inflation system market over the forecast period. Asia Pacific region in global automatic tire inflation system market is expected to witness a CAGR growth rate of 18.9% in the coming years.
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Global Automatic Tire Inflation System Market - Company Profiles
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 among others.
The global market for automatic tire inflation system is anticipated to exhibit high growth in near future. Some of the major driving factors contributing to the market growth increasing commercial vehicles production globally. The fuel costs are constantly rising and fleet owners demand for fuel efficient technology integrations into their fleets for savings. Demands for enhancing the fuel efficiencies of the commercial vehicles is another major factor boosting the adoption of ATIS technology. However, the lack of awareness about the benefits of these systems and concerns around higher initial investments have proved to be the major hindrances for the growth of this market.
APAC is expected to be the fastest growing region in the deployments of automatic tire inflation systems. The major reason for this is the huge automotive hub in China. Further, the regulations that mandate the integration of ATIS in the heavy commercial vehicles will lead to automotive OEMs vouching and integrating these systems. As China is the largest automotive hub in the world, highest market growth as well as market share is anticipated to be exhibited in this country. The new market initiatives and strategic partnerships are expected to continue during the forecast period, contributing to high growth of automatic tire inflation systems market in the region.
Key findings of the study:
- From a growth perspective India in Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 22.8% during the forecast period
- Heavy duty vehicle segment accounted for the largest market share in 2017, however, utility vehicle is anticipated to be the fastest growing segment in automatic tire inflation system market during the forecast period.
- OEMs dominated the automatic tire inflation system market in 2017, and the same is expected to drive the market growth during the forecast period from 2018 – 2025.
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.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.