According to a new report published by Allied Market Research, titled, “Automotive Automatic Tire Inflation System (ATIS) Market,” The automotive automatic tire inflation system (atis) market was valued at $658.10 million in 2020, and is estimated to reach $2,262.9 million by 2030, growing at a CAGR of 13.3% from 2021 to 2030.
North America dominates the automotive ATIS market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. garnered the highest share in 2020; however, Asia-Pacific is expected to grow significantly during the forecast period, due to increase in demand for advanced vehicle features across the region.
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An automatic tire inflation system is a technology used to inflate tires in an automotive while driving. The system maintains the air pressure inside the tire according to the road surface, vehicle load, and size & type of the tires. It consists of a compressor that passes air through the rotary joint fixed between the wheel spindle and wheel hub at each wheel via hoses, providing the rotary motion of wheel assembly. The improved automatic tire inflation system can enhance tire efficiency, increase fuel efficiency, and reduce tire wear by providing sufficient air in each wheel. For instance, in March 2018, SAF-HOLLAND SE launched the Tire Pilot Plus, an active tire pressure management system, at the 2018 Technology & Maintenance Council Annual Meeting in Atlanta that enables proper tire pressure across a trailer and protects tires, improves fuel efficiency, and optimizes uptime, thus reducing wear and associated costs.
In addition, the automotive automatic tire inflation system market has witnessed significant growth in recent years, with an upsurge in demand for commercial & off-road vehicles, owing to the expanding construction & mining industry. Furthermore, surge in demand for remote diagnostics systems and increase in vehicle connectivity globally drive the market growth.
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Companies operating in the market have adopted collaborations, product launches, and R&D to increase their market share and expand their geographical presence. For instance, in March 2022, Meritor, Inc. collaborated with ConMet eMobility to develop trailer suspensions, brakes, and tire inflation systems that enable the production of zero-emissions refrigerated trailers, including specifically engineered spindle package to be compatible with ConMet’s eHub. Moreover, R&D-based activities in the automatic tire inflation system market are driving the market growth. In March 2021, Parker Hannifin Corp launched its central tire inflation system (CTIS) for off-highway vehicles that offer extended tire pressure operating ranges and allows the driver to optimize tire inflation from the cab with the simple push of a button to provide more excellent reliability during harsh environmental conditions such as mud, dust, snow, and ice.
The global automotive automatic tire inflation system market has been segmented into product type, application, sales channel, and region. Depending on product type, the market is bifurcated into central tire inflation and continuous tire inflation. By application, it is fragmented into light duty vehicles and heavy-duty vehicles. On the basis of sales channel, it is categorized into original equipment manufacturers (OEMs) and aftermarket. Region wise, the global automotive automatic tire inflation system market has been studied across North America, Europe, Asia-Pacific, and LAMEA.
Factors such as increase in demand for all-terrain and military vehicles, high demand for safety features in vehicles, and rise in need for comfort while driving boost the market growth. However, the market growth is restrained by factors such as high implementation cost & configuration complexity and nitrogen tires substituting compressed air tires. On the contrary, technological advancements and integration of ATIS with telematics are anticipated to create ample opportunities for the growth of the market across the globe.
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KEY FINDINGS OF THE STUDY
By product type, the continuous tire inflation segment is expected to register a significant growth during the forecast period.
Depending on application, the light-duty vehicle segment is anticipated to exhibit significant growth in the near future.
On the basis of sales channel, the aftermarket segment is projected to lead the global automotive automatic tire inflation system market.
Asia-Pacific is anticipated to register the highest CAGR.
COVID-19 IMPACT ANALYSIS
The COVID-19 crisis creates uncertainty in every market, including the automotive sector. The closure of assembly plants and large-scale manufacturing interruptions has led to the decline in global demand for automobiles, indirectly affecting the automotive automatic tire inflation system market.
Governments across different regions announced total lockdown and the temporary shutdown of industries, leading to the border closures that restricted the movement of transportation services.
The COVID-19 health crisis forced the automotive industry to look for alternate sources and prioritize import substitution with their production activities & supply chain.
However, the overall service activities of market players have registered a steady and favorable recovery in the subsequent months with the normalization of trade regulations and vehicle production, which is expected to boost the automatic tire inflation system market in post-2020.
As per the current scenario, the overall world is getting back on track slowly; with the new restrictions and policies. Thus, the resumption of operations by various automakers in several parts of the world is expected to boost the growth of the automatic tire inflation system market from 2021 onward. This will positively impact the market during the forecast period
The key players operating in the global automotive automatic tire inflation system market are Aperia Technology Inc., Bigfoot Equipment LTD., Dana Limited, FTL/IDEX, Hendrickson USA, LLC, Meritor, Inc., Parker Hannifin Corp., SAF-HOLLAND SE, The Goodyear Tire & Rubber Company, and ti.systems GmbH
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