The Automatic tire inflation system market is projected to grow from USD 82 million in 2023 to USD 138 million by 2028, at a CAGR of 10.7% during the forecast period. Increasing need for more tire life, increase in fuel efficiency for trucks and trailers are driving the growth and advancements in the Automatic tire inflation system market.
However, a projected recovery in Q1-Q2 of 2021 in vehicle production supports the growth of the automotive market. As a result of increasing demand in ATIS system is expected with the North America and Europe estimated to be the leading regions.
The presence of large farmlands in North Americas and Europe will generate need for large farm tractors that in effect will increase the demand for ATIS systems. Also the same regions have a great dependence on trucks and trailers. These vehicles cover long distances on concrete roads which causes heating of tires and improper variation in tire pressure which decreases tire life. These reasons will generate demand for ATIS systems in these market.
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The Heavy vehicle segment is estimated to lead the market in terms of value during the forecast period due to the higher demand for ATIS systems in heavy duty vehicles. The increase in tire life and fuel efficiency is the key factor driving the growth of the automatic tire inflation system market in heavy duty vehicles.
The farm vehicles sector holds the largest share in off-highway vehicle segment. These vehicles require low tire pressure for better operation and high fuel efficiency. When tire pressure reduces, the footprint of the tire becomes broader, and the load gets circulated over a larger area. Load circulation helps decrease the motion resistance in soft soils. As the tire pressure reduces, the fuel efficiency and performance of the tires improve. The automatic tire inflation system lowers the tire pressure of agricultural tractors, which results in better fuel efficiency and high performance.
The growing demand for Electric vehicles especially in the heavy duty category is expected to increase the ATIS demand. This is because vehicle electrification would lead to more demand for increased range and battery efficiency in the vehicle. This is expected to drive growth for the ATIS market globally. These ATIS systems completely enhance performance of EV, thereby driving its market.
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The market in the North American region is projected to be the largest. The North American region comprises the North America, Canada and Mexico. The increase in demand for on-highway segment vehicles in United States has also contributed to the growth of the ATIS market in this region. The increasing number of commercial trailers is expected to boost the growth of the ATIS market.
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%). North America is the largest manufacturer of light commercial vehicles. In the coming years, the region is expected to witness growth in the automatic tire inflation system market for all vehicle types
United States is also home to many ATIS system manufacturers such as EnPro Industries, Goodyear Tire & Rubber Company, Dana Incorporated, IDEX Corporation, The Boler Company, Airgo Systems, Aperia Technologies, Haltec Corporation, Pressure Systems International, Opladen LLC, Trans Technologies Company
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