A prominent trend in the market is the increasing emphasis on the security and efficiency of vehicles. As automakers work to improve the security features of their cars, ATIS reception has become distinctly better. As a result, this structure maintains the proper tire pressure, ensuring improved vehicle maintenance, solidity, and wellbeing.
The growing trend of eco-friendly parking lot configurations is another important trend. Eco-friendliness and proper tire filling are directly related, and ATIS plays a crucial role in adhering to recommended tire pressure levels. As the automotive industry continues to prioritize economy and maintainability, the combination of programmed tire filling frameworks has become a critical objective.
The proliferation of electric vehicles (EVs) has also had an impact on market trends in ATIS. Maintaining proper tire pressure is essential for extending the range of electric vehicles, which place a high value on efficacy. The auto industry is expected to experience a trend toward zap, which will increase interest in ATIS.
Furthermore, advances in innovation have led to the development of intelligent ATIS, which combines network features and sensor innovations. These clever systems provide continuous tire pressure monitoring and inform both the drivers and the armada administrators. The combination of Internet of Things (IoT) innovation in ATIS takes preventative maintenance into account, lowering the risk of tire-related incidents and improving overall vehicle performance.
One of the main factors propelling the Auto ATIS market is the growth of the commercial vehicle segment. Managers and strategy companies are beginning to recognize the benefits of automated tire filling systems in reducing operating costs, advancing environmental sustainability, and enhancing vehicle safety. The growth of the internet business sector and the consequent increase in need for well-planned operations arrangements contribute to the acceptance of ATIS in business cars.
Despite the encouraging trends, high initial prices and a shortage of consumer knowledge continue to be barriers to wider use. However, these challenges should gradually fade as economies of scale become more significant and innovation improves.
As the car business keeps on developing, ATIS is ready to assume a significant part in upgrading vehicle execution, lessening emanations, and further developing road security. The market is probably going to encounter supported development as mindfulness increments, and the car environment embraces the advantages of programmed tire filling frameworks.
Report Attribute/Metric | Details |
---|---|
Market Opportunities | Stringent safety regulations Innovation in tire systems |
Market Dynamics | Growing sales of vehicles Reduction of maintenance cost of tires |
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.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)