According to the reports published by Market Research Future (MRFR), the global automotive automatic tire inflation system market is expected to grow at an approximate CAGR of 12% during the assessment period between 2018 and 2023. The in-depth study conducted by MRFR states that the automotive ATIS market is impacted by several key drivers. The stringent norms regarding safety, the spurring sales volume of automobiles, and upgradations in tire systems such as contact area information sensing. To overcome the wear and tear in vehicle tires, several key players invest substantial amounts in research and development activities to improve its resistance property. This consequently assists in surging the development of the global market as well. Another major driver that is likely to propel the worldwide market for automotive automatic tire inflation system is the reduced maintenance cost of tires due to expanding instances of wear and puncture. However, the fitment issues can give rise to restrictions to the prevailing growth of the market over the review period.
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Global ATIS market is dominated by key players such as MICHELIN(France), CODA Development (US), Aperia Technologies, Inc. (US), Denso Corporation (Japan),Pressure Systems International, Inc. (US), Continental AG(Germany), STEMCO Products Inc. (US), Goodyear Tire and Rubber Company(US), ti.systems GmbH (Germany), Hankook Tire (South Korea), Pirelli and C. S.p.A.(Italy), Hendrickson USA, L.L.C. (US), Bridgestone Corporation(Japan), Haltec Corporation (US), Meritor, Inc. (US), PressureGuard (US), and Michelin North America Inc. (US).
The global automotive automatic tire inflation system market segmentation has been based on type, vehicle type, and sales channel. Based on type, the market is segmented into tire inflation, continuous tire inflation, and others. Based on sales channel, the market is segmented into OEM and aftermarket. Based on vehicle type, the market is segmented into electric vehicles, passenger cars, and commercial vehicles.
The automotive automatic tire inflation system market is geographically segmented into Asia Pacific, Europe, North America, and the Rest of the World (RoW). The automotive automatic tire inflation system demands a huge level of investment at its initial phase. This can be a key entry barrier for small enterprises throughout the world to enter into the market. Nonetheless, the availability of a wide range of distinctive technologies associated with ATIS in markets like Europe, North America, and Asia Pacific, has surged the demand and growth for the market. The increasing number of manufacturers throughout the Europe market has primarily increased its scope for the better. However, this has resulted in the alienation of territories. The Europe market represents the primal demand in the global landscape, and it is likely to continue its rule over the assessment period. The North America market represents the second largest share of global automotive automatic tire inflation system. The market is anticipated to grow considerably over the assessment period owing to increasing demand for commercial vehicles in the US. The increasing demand will subsequently surge the demand for automotive ATIS in the North America market. The US market acts as the key driver of the North America regional market. The time spent by individuals augments the need for adoption of progressive technologies such as ATIS and central tire inflation system in order to attain the desired level of comfort. The surging awareness related to the same in the US market is projected to act as a key driver behind the growth in demand of ATIS. Asia Pacific market represents the third position in driving worldwide demand for ATIS and is likely to develop substantially over the assessment period. The growth is owing to the prevalence of key manufacturers in the APAC market. The expansion of the regional market can be majorly attributed to economies such as China, Japan, and India.
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