Market Research Report
Automatic Tire Inflation System Market by Type (Central & Continuous), Component (ECU, Compressor, & Pressure Sensor), On-Highway Vehicle (PC & CV), Off-Highway Vehicle (Agriculture & Construction), and Region - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||734669|
|Published||Content info||129 Pages
Delivery time: 1-2 business days
|Automatic Tire Inflation System Market by Type (Central & Continuous), Component (ECU, Compressor, & Pressure Sensor), On-Highway Vehicle (PC & CV), Off-Highway Vehicle (Agriculture & Construction), and Region - Global Forecast to 2025|
|Published: October 23, 2018||Content info: 129 Pages||
"Increasing tire life, improving fuel economy, and enhancing safety are set to drive automatic tire inflation system market"
The automatic tire inflation system market is estimated to be USD 891.6 million in 2018 and is projected to reach USD 1,606.8 million by 2025, at a CAGR of 8.78%. The market is principally driven by the benefits such as increased tire life, improved fuel economy, and enhanced safety. Governments in various countries are focusing on tire inflation regulations. In 2016, the US government focused on mandating automatic tire inflation systems in trucks. Environment protection boards in various countries are also focusing on tire inflation regulations. Since September 1, 2010, the California Environmental Protection Agency mandated the automotive service providers to inflate tires at a required air pressure during automotive maintenance or repair services. Hence, government regulations pertaining to tire inflation will play a major role in the automatic tire inflation system market in the coming years.
The ECU, which is a major component of the automatic tire inflation, is estimated to be the largest market, in terms of value. It is used to control the pressure sensor in the automatic tire inflation system. It guides the pressure sensor to detect the amount of air needed to inflate the tires. The price of the ECU is higher than any other component in the automatic tire inflation system. ECU manufacturers are now focusing on economies of scale for reducing the price. Reducing price will help drive the automatic tire inflation system market.
Agriculture vehicle is estimated to be the largest market, in terms of value. Agriculture vehicles such as tractors and harvesters require low tire pressure for better operation and high fuel efficiency. When tire pressure reduces, the footprint of the tire becomes broader, and the load gets circulated over a larger area. Load circulation helps decrease the motion resistance in soft soils. As the tire pressure reduces, the fuel efficiency and performance of the tires improve. The automatic tire inflation system automatically lowers the tire pressure of agriculture vehicles, which results in better fuel efficiency and high performance. Hence, these factors will drive the automatic tire inflation system market for agriculture vehicle.
The RoW market is projected to grow at the highest CAGR during the forecast period. Increasing demand for vehicle safety and increased tire life will drive the automatic tire inflation system market. The demand for increasing productivity of vehicle and reducing vehicle downtime create an opportunity for manufacturers to up the demand for automatic tire inflation systems.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
Major players profiled in the report are:
The report segments the automatic tire inflation system market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America and RoW), type, on-highway vehicle, off-highway vehilcle, and component.
The report provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the automatic tire inflation system market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall automatic tire inflation system market and its subsegments. This report will help stakeholders understand the competitor landscape better and gain insights to position their businesses better and make suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
*Details on Overview, Product offerings, Recent developments & SWOT analysis might not be captured in case of unlisted companies.