Increasing demand for vehicle safety in developed as well as developing economies drives the market of automatic tire inflation system
The automatic tire inflation system market size by value will grow and reach USD 1,606.8 million by 2025. The automatic tyre inflation system consists of a compressor that is used through hoses to transfer air through the rotary joint, providing rotary wheel assembly movement. Air is channeled without entangling hoses through the rotary joint and pumps air and tyre inflate when pressure falls below the desired amount. Increased tyre life is determined by a correctly inflated tyre. Normally, at a particular pressure, tyres can work. Heavy vehicles such as tractors and trucks have a high tyre load that affects the life of their tyres. As per the Doran Manufacturing (US) study, tyre life is reduced by 30 percent when tyres are 20 percent underinflated. Due to the rising demand for commercial and off-road vehicles from the growing mining industry and the growth of the construction industry in countries in the region, the North American market is projected to account for the highest share in the global market for automatic tyre inflation in terms of revenue contribution compared to that of markets in other regions. The demand in Europe is expected to show relatively higher sales growth over the next 10 years. This growth can be attributed to increasing road safety issues, which in turn are generating demand in countries in the region for automatic tyre inflation systems. It is projected that the European market accounts for the second highest share of sales in the global market and that a steady CAGR is expected to be reported during the forecast period. In the global market for automatic tyre inflation systems, the markets in Latin America and the Middle East & Africa are projected to register a moderate growth rate over the forecast period.
Key strategies such as business expansion and product growth have been adopted by major players operating in the global market for automatic tyre inflation systems to improve their market outreach and maintain stiff competition in the market. The study further analyses the various aspects of the global automatic tyre inflation device industry in an overview of the consumer supply chain. In addition, the study analysis uses many efficiency components for market constraints, main industry dynamics and opportunities. The study also supports a detailed market evaluation for profiling companies and local and global vendor competition.
There is heavy rivalry between the already established and new firms in the automatic tyre inflation system industry. Furthermore, through the development of mergers and acquisitions, arrangements, purchases of other firms and new startups, alliances and the advancement of corporate life, liner players pursue potential avenues to compete with other players in the industry. Increasing investment in services is expected to have a negative effect on demand in developing countries, including Germany and France. With regard to regulatory support to draw domestic investment, the positive outlook for China and India's manufacturing sectors is expected to play a crucial role.
Key Segments of the Global Automatic tire inflation system Market
Type Overview, 2018-2028 (USD Billion) (Tons)
Component Overview, 2018-2028 (USD Billion) (Tons)
- Pressure sensor
On-Highway Vehicle Overview, 2018-2028 (USD Billion) (Tons)
Off-Highway Vehicle Overview, 2018-2028 (USD Billion) (Tons)
Regional Overview, 2018-2028 (USD Billion) (Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America