The global automatic tire inflation system market is expected to reach at US$ 2283 Mn with a CAGR of 11.54% during the forecast period from 2019 to 2027. Automatic tire inflation system (ATIS) is used to maintain appropriate air pressure on each tire of a vehicle. An underinflated tire pressure can be dangerous for personal as well as for the vehicle. If the air pressure is low, larger surface of tire touches the road, which thereby increases tire friction. This increased friction overheats the tire and could lead to tread separation and blowouts. Thus, under-inflation can cause early failure of tire and may increase the chances of mishap. Automatic tire inflation system (ATIS) has the ability to cure this problem of underinflation in a particular tire. It is used to maintain proper air pressure throughout the journey and helps in minimizing the risk of accident. Growing awareness about improving vehicle efficiency and push from governments of various countries such as US and UK for mandatory installation of tire pressure monitoring system are some of the major factors driving the global automatic tire inflation system market.

According to National Highway Traffic Safety Administration (NHTSA), underinflated tire is a major cause of accidents in U.S. In 2017, there were 738 deaths occurred in tire related crashes. Moreover, an underinflated tire can decline fuel economy of vehicle. As per NHTSA study, only 19% of consumers properly inflate their tires. This practice can save almost 11 cents on each gallon of fuel used by vehicle. In addition to this, a properly inflated tire can add approximately 4700 miles to an average life of a tire.

In times of extreme braking situations, an underinflated tire get easily deformed. Also, in case of overinflated tire, less area is in contact with surface due to bulging of central portion of tire. This results into longer stopping distance of vehicle than in normal condition where tire is correctly pressurized. Longer stopping distance increases the chances of mishap which can be avoided by maintaining proper tire pressure using automatic tire inflation system. As a result, to avoid the accident rate and mishap of the vehicle, automatic tire inflation system have gained immense popularity. This in turn is boosting the market for automatic tire inflation system worldwide. 

"Central Tire Inflation System accounted for the Largest Market Share in 2018"

Central tire inflation system (CTIS) is mostly used in commercial vehicles such as trucks, tractors, buses and coaches. Unlike continuous tire inflation system, central tire inflation system offers better flexibility with monitoring of pressure in all tires of a vehicle. As per terrain of road, driver has on-board facility to adjust the tire pressure in the central tire inflation system type. On the contrary, continuous tire inflation system, mostly used in trailers, does not provide flexibility in comparison to its counterpart since it is responsible in maintaining the preset constant pressure. With this system, driver has no ability to change or check tire pressure from the cabin. Whereas, CTIS can compensate for minor leaks on tire and reduce the downtime by continuing the operation of vehicle. Considering the aforementioned factors central tire inflation system is expected to grow at a significant growth during the forecast period from 2019 to 2027.   

"North America Registered Largest Market Share in 2018"

In 2018, North America led the automatic tire inflation system market worldwide. The region is expected to witness a considerable growth during the forecast period from 2019 to 2027. North America is a house to number of automatic tire inflation system manufacturing companies like Stemco Products Inc., Pressure Systems International, Inc., Dana Limited, Aperia Technologies, Inc., etc., among others. These companies are investing in R&D for innovating their existing products and are also focusing on developing new product to increase its capability for tire maintenance. For instance, in March 2019, Aperia Technologies, Inc. has introduced their new product Halo Connect which will use machine learning algorithm to virtually eliminate tire-related downtime.

Furthermore, regulations such as Transportation Recall Enhancement Accountability Documentation (TREAD) Act of USA for installation of tire pressure monitoring system in new passenger cars and light trucks.

Competitive Insights

Major players profiled in automatic tire inflation system market include Stemco Products Inc., Pressure Systems International, Inc., Dana Limited, Haltec Corporation, ti.systems GmbH, PressureGuard, Precision Inflation LLC, Hendrickson USA, L.L.C, Meritor, Inc., Aperia Technologies, Inc., Michelin North America Inc., etc. among others. These companies are entering into partnerships and acquiring other players to increase their market strength. For instance, in April 2017, ATIS manufacturer Pressure Systems International, Inc. announced the acquisition of Truck System Technologies (TST) Inc., a provider of tire pressure monitoring system. This acquisition will help to increase the portfolio of company and also increase their market share.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automatic Tire Inflation System market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automatic Tire Inflation System market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automatic Tire Inflation System market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automatic Tire Inflation System market?
• Which is the largest regional market for Automatic Tire Inflation System market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automatic Tire Inflation System market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automatic Tire Inflation System market worldwide?