Automatic Tire Inflation System Market worth $108 Million by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 18, 2022 /PRNewswire/ -- According to the new market research report "Automatic Tire Inflation System Market by Type (Central, Continuous), On-Highway Vehicle (LDV, HDV), Off-Highway (Agriculture, Construction), EV (BEV, PHEV, FCEV), Sales Channel (OEM, Aftermarket), Component & Region - Global Forecast to 2027", published by MarketsandMarkets™, 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. The increasing demand for improved tire life and to prevent accidents due to tire blowouts, the demand for ATIS in heavy duty vehicles and farm tractors would create growth opportunities.
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359 – Tables
51 – Figures
285 – Pages
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ATIS for Farm Tractor expected to be the largest segment for ATIS system in off-highway ATIS system during the forecast period
The ATIS system for Farm Tractor segment is estimated to lead the market, in terms of value, during the forecast period due to presence high powered tractors being used for farming. This is because higher farmland size in North American and European regions.
The OEM Sales channel is expected to hold the largest market share in 2027
The OEM segment holds the largest share in sales channel in ATIS market. The OEM segment is projected to grow from USD 53.4 million in 2021 to USD 108.4 million by 2027, at a CAGR of 12.5% during the forecast period. OEMs are employing the ATIS system in vehicles and are designing the chassis as per the requirement of the ATIS system. The demand for ATIS in the OE market is growing due to the increased tire blowouts and improved tire life and fuel efficiency.
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North America is estimated to be the dominant regional market
North America is the largest market for ATIS systems in the world. The presence of large farm lands 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.
Key Market Players:
The Automatic Tire Inflation System 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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Automotive Tires Market for OE & Replacement by Rim Size (13-15, 16-18, 19-21,>21 inches), Replacement Market, by Aspect Ratio (<60, 60-70, >70), Section Width (<200, 200-230,>230 mm), Season, Vehicle Type, Retreading Market, and Region - Global Forecast to 2025
by Application & Equipment (Construction & Mining, Industrial, Agriculture Tractors), Type (Wheeled, Track), Rim Size, Process (Mold & Pre-Cure), Retreading Market by Process & Application and Region - Global Forecast to 2026
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