Growing OEM Market for automotive tire inflation systems in Asia Pacific to boost the prospects of adoptions of automatic tire inflation system that is anticipated to grow at a CAGR of 9.7%.
Automatic Tire Inflation System Market to 2025 – Global Analysis and Forecast by Vehicle Type, and Distribution Channel. Automatic Tire Inflation System market is expected to grow to US$ 2,029.9 million by 2025 from US$ 988.6 million in 2020. The trucking industry in Asia Pacific region is experiencing an exponential growth owing to an increase in numbers of manufacturers. The logistics and transport sector is booming in Asia Pacific, and pertaining to this fact, the demand for medium weight commercial vehicles, heavyweight commercial vehicles and utility vehicles is growing rapidly. Owing to the rising demand for commercial vehicles, Asia Pacific region is witnessing a gradual increase in numbers of trucks and commercial vehicle manufacturers in the recent times. In addition, the end users are opting for trucks and other commercial vehicles integrated with advanced technologies with an objective to reduce maintenance cost over the years. Commercial vehicle manufacturers in Asia Pacific countries such as China, India, Japan and South Korea among others are producing vehicles at large numbers in an effort to meet the increasing requirement from the mass. The demand for advanced technologies includes automatic tire inflation system mechanism as this system enhances the fuel efficiency of the vehicles, which is a major concern of the end users. This factor is anticipated to boost the market for automatic tire inflation system in the commercial sector.
Apart from commercial logistics and transportation sectors, military forces in the region are also fueling the demand for automatic tire inflation system market. This is due to the fact that, military forces in the Asia Pacific region are procuring large numbers of heavy-duty vehicles and utility vehicles in order to transport goods to remotely located outposts and other military establishments. The military vehicles traverse through rough terrain, which results in loss of tire pressure frequently, and this can be overcome by the automatic tire inflation system. Owing to these two facts, the demand for automatic tire inflation system among Asia Pacific military forces is gaining prominence in the current scenario. This trend is anticipated to bolster the growth of automatic tire inflation system market in the coming years.
The automatic tire inflation system market has been segmented on the basis of vehicle type into utility vehicles, tractors, and heavy duty vehicles. Additionally, the market is also segmented on the basis of distribution channel into OEM and aftermarket. The global Automatic Tire Inflation System market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. The key players profiled in the report are PressureGuard, Haltec Corporation, Aperia Technologies, Inc., Continental AG, and Dana Limited. Also, Michelin, STEMCO Products Inc., Tire Pressure Control, Meritor, Inc., and Hendriksson USA, LLC are other key companies in the automatic tire inflation system market.
The report segments the global automatic tire inflation system market as follows:
Global Automatic Tire Inflation System Market – By Vehicle Type
Global Automatic Tire Inflation System Market – By Distribution Channel
Global Automatic Tire Inflation System Market – By Geography
North America
Europe
Asia Pacific (APAC)
Middle East and Africa (MEA)
South America (SAM)
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