The Automatic tire inflation system market is projected to grow from USD 53 Million in 2021 to USD 108 Million by 2027, at a CAGR of 12.5 % 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 Central Tire Inflation system segment is estimated to lead the market in terms of value during the forecast period due to the higher demand for ATIS systems by type. With a CAGR of 13.7% the market is forecasted to grow from USD 43.7 Million in 2021 to USD 94.2 Million in 2027.
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 farm tractors ATIS market is anticipated to grow from USD 9.3 million in 2021 to USD 20.8 million by 2027, at a CAGR of 14.5%.
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Electronic control units is seen to dominate the components market with a CAGR of 8.9% and set to grow from USD 15.6 Million in 2021 to USD 24.9 Million in 2027. Electronic control units are installed in all types of ATIS system. Thus, the increase in ATIS production will drive market growth for the automotive wiring harness.
Key Market Players:
The ATIS market is consolidated Dana Incorporated (US), MICHELIN (France), IDEX Corporation (US), Enpro Industries (US), MERITOR (US), SAF-HOLLAND (Germany), and CLAAS (Germany) are the top players in the Farm Equipment market. New product development, partnership and joint venture strategy have been the most dominating strategy adopted by major players from 2018 to 2021, which helped them to innovate on their offerings and broaden their customer base.
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