Rising innovation in tire systems the automotive automatic tire inflation system market is expected to grow at a high CAGR of 12.5% to account for a higher market value to attain worth USD 107 million during forecasted period 2022 - 2030.
The increasing concern about ride safety and preventing road accidents majorly caused due to tire punctures gives significant growth opportunities for the automotive automatic tire inflation system market in the global market as these are considered the next-generation tires that eliminate the traditional tires which require air pressure. Due to advancements in technology, manufacturers and industry participants can now produce eco-friendly tires using recycled materials. The life of conventional tires is significantly less when compared with the automotive automatic tire inflation system market. The new automotive automatic tire inflation system provides unique features like higher usage in rugged areas, puncture-proof, higher durability,, and many others, making the automotive automatic tire inflation system market propel in the global market.
The global pandemic of COVID 19 has affected the financial market in the most abrupt way possible. Now, one has to deal with financial crises and health sector crises. The global pandemic has pushed the economies toward a forced recession in this situation. During the lockdown situation and post lockdown period, most of the manufacturing units of the automotive automatic tire inflation system industry were shut down, and reduced demand led to a downfall in revenues of the automotive automatic tire inflation system market in the global market.
It is expected that the global automotive automatic tire inflation system market will recover from this pandemic situation by the end of the first quarter of the coming year during the forecasted period.
The automotive automatic tire inflation system market is growing tremendously due to its various advantages, like reducing carbon footprints, which provide new raw materials and green materials by recycling the tires and materials used. It also helps in reducing land pollution. Improper tire pressure or underinflated tires make a smaller contact area with the ground resulting in more power generation for the propulsion of vehicles. As per the International Journal of Scientific Development and Research (IJSDR) article published in 2018, underinflated tire by 2 psi decrease the fuel efficiency by 10%. Thus, functional benefits like improper tire inflation reduce the fuel economy. According to Doran Manufacturing (US), a 20% underinflated tire could decrease tire life by 3%.
Another factor driving the automotive automatic tire inflation system market is the convenience and driver assistance like connected features in tires, puncture resistance, low maintenance, replacement cost, and high downtime and loss of person-hours.
Tubeless and nitrogen tires do not support the automatic tire inflation system. The market for nitrogen tires is growing as several manufacturers prefer nitrogen as an inflation gas in tires. Inflating tires with nitrogen improves steering improves, handling, braking, reduce tire oxidation, eliminates interior wheel corrosion, reduces running temperatures, and decreases false alarms from tire pressure monitoring systems.
The automotive automatic tire inflation system market is growing at a fast pace. Still, some factors restrain the growth of the automotive automatic tire inflation system market globally, like the high initial investment owing to high cost at the initial stage and commercialization concerns. Another factor that restricts the growth of the automotive automatic tire inflation system market is the low performance during friction and high speed compared with conventional tires.
Governments in various countries are focusing on tire inflation regulations. The environment protection board in various countries also focuses on tire inflation regulations. The California Environmental Protection Agency mandated that automotive service providers inflated tires at the required air pressure during automotive maintenance or repair services in 2010. In 2022, the California Air Resources Board (ARB) amended its regulations to reduce greenhouse gas emissions from vehicles operating inefficiently with under-inflated tires. A vehicle with a gross vehicle weight rating of 10,000 pounds (lbs.) or less is considered.
The federal regulations also imposed harsh fines for the fleet operators who are tire-related violations carry hefty penalties up to eight points, which can adversely affect the safety record for drivers and fleets. The US EPA and NHTSA applied provisions for the Truck Trailer Manufacturers Association to stay for the provisions for phase 2 greenhouse gas emissions. Eventually, the part of the regulations would have required trailers to be outfitted with either an automatic tire inflation system or tire pressure monitoring system.
The automotive automatic tire inflation system market in the global market has been divided based on the following segments mentioned:
The automotive automatic tire inflation system market in the global market has been divided into Europe, Asia-Pacific, North America, and the rest of the world. In 2021, the US was the largest market for automatic tire inflation systems for on-highway vehicles in the region, with a market share of 93.1%, followed by Canada (4.7%) and Mexico (2.2%). The region is expected to witness growth in the automatic tire inflation system market for all vehicle types in the coming years.
Many accidents related to tire malfunctioning occur in the US every year. According to NHTSA, 733 traffic fatalities occurred due to tire malfunctioning in 2016. The NHTSA also estimated that automatic tire inflation systems could save 260,000 accidents.
The most prominent key players in the automotive automatic tire inflation system market in the global market are the following:
These prominent critical players in the automotive automatic tire inflation system market use various strategies for increasing their customer base in the global market by adopting various competitive strategies like product innovation, partnership and collaboration, mergers and acquisitions, and improvement in the production process.
Michelin launched Zen@Terra, a comprehensive solution that enables users to adjust the air pressure in tractor tires. Michelin acquired one of the significant European telematics companies, Masternaut (France). Telematics has a significant role in user-friendly and data-driven TPMS, which can be integrated with onboard ATIS/CTIS.
In 2021, John Deere in the US had launched its 8R series tractor with home built ATIS system integrated into them as an option.
The high cost of the functioning system impacts the commercialization of the vehicle and increases the overall costs of the vehicle. The adoption of automatic tire inflation systems is increasing in developed economies in the North American region and Europe. Market manufacturers such as Goodyear (US) and Michelin (France) have developed strong distribution networks for selling automatic tire inflation systems in developed economies. Additionally, the global governments in these developed countries have started promoting automatic tire inflation systems.
The global automotive automatic tire inflation system market research report consist of the following elements:
This automotive automatic tire inflation system market research report consists of various driving factors and restraining factors that hamper the growth of the automotive automatic tire inflation system market in the global market. This report also contains the expected growth opportunities during the forecasted period, along with the impact of the global pandemic of COVID 19 on the automotive automatic tire inflation system market. The future growth rate of the automotive automatic tire inflation system market is also estimated and mentioned.
End-Users of automotive automatic tire inflation system, government and financial institutions, associations, organizations, forums, and alliances related to automotive automatic tire inflation system, Airless Tire Manufacturing Companies, industry experts and other business authorities, research organizations and consulting companies, industry associations, market research and consulting firm, and many others.
| Report Attribute/Metric | Details |
| Market Size 2030 | USD 107 Million |
| Compound Annual Growth Rate (CAGR) | 12.5%(2022-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, By Application, By Vehicle type, By Sales Channel |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | APERIA TECHNOLOGIES, INC.(US), Bridgestone Corporation(Japan), Continental AG(Germany), Goodyear Tire and Rubber Company(US), Meritor, Inc.(US), CODA Development(US), MICHELIN(France), Hendrickson USA, L.L.C. (US), and Pirelli and C. S.p.A.(Italy). STEMCO Products Inc. (US), Hankook Tire (South Korea), Pressure Systems International, Inc. (US), Denso Corporation (Japan), Haltec Corporation (US), Michelin North America Inc. (US), ti.systems GmbH (Germany), and PressureGuard (US) |
| Key Market Opportunities | Stringent safety regulations Innovation in tire systems |
| Key Market Dynamics | Growing sales of vehicles Reduction of maintenance cost of tires |
Automotive Automatic Tire Inflation System Market Highlights:
Frequently Asked Questions (FAQ) :
The global automatic tire inflation system market is projected to register a moderate 12.5% CAGR in the forecast period.
A few major market players operating in the global automatic tire inflation system market are ti.systems GmbH, Denso Corporation, Michelin North America Inc., Haltec Corporation, and PressureGuard, among others.
The central tire inflation segment is slated to expand as the fastest-growing segment.
The commercial segment is expected to witness substantial growth.
The integration of telematics in the tire inflation systems is expected to drive the market over the review period.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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