The Automotive Automatic Tire Inflation System (ATIS) market is anticipated to register a CAGR of over 8.5% during the forecast period (2020 - 2025).
- The automatic tire inflation system market growth is attributed to the growing concerns about tire safety and constant need for safer driving have raised the adoption rates of ATIS systems. It also improves fuel efficiency and passenger comfort.
- Moreover, the government regulations and safety measures for tire inflation on vehicles have also fuelled the demand in aftermarket players in the market.
- The automotive industry around the world is growing rapidly owing to the growing technology. Also, R&D based activities on automatic tire inflation system market is driving the market.
- In terms of region, North America registered the largest market share in an automatic tire inflation system, as this region has well-established automotive industry and has a large number of automotive OEMs manufacturers which is thereby aiding the market growth.
Key Market Trends
Increasing demand for Off-road SUVs
The automotive industry around the world is growing rapidly owing to the growing technology. The companies are focusing on facilitating extensive research and development in the tire industry to improve frictional resistance property of the tire products. Such R&D-based activities are notably driving the global automotive automatic tire inflation system (ATIS) market, driving the market.
Automatic tire pressure adjustment system allows the driver to optimize tire inflation pressure from the cab while operating on varying terrains with the simple push of a button. Reducing tire pressure results in a bigger tire footprint, providing increased flotation and traction when operating in soft soil terrain. Although often used in conjunction with all-wheel drive, non-all-wheel drive vehicles with CTIS can actually outperform all-wheel drive in many soft soil conditions.
Operating vehicles with reduced tire inflation pressure is approved by tire manufacturers when operating at reduced vehicle speeds. The market for Sports Utility Vehicles is seeing maximum growth in India, China, Vietnam and other Asian countries.
In India, the market for small sport utility vehicles has taken off with the launch of the Renault Duster. Many players like Maruti Suzuki, Honda, Volkswagen, Toyota, Hyundai, Ford and Nissan have joined or set to join this booming segment in India. Though the number of Off-road Sport Utility Vehicles is limited in the emerging markets, their numbers will grow rapidly in the future.
North America to Witness Significant Share
The global automatic tire inflation system market is led by North America in terms of revenue, mainly due to an exceptionally strong automobile industry present in this region, and it is a hub for many automotive industry manufacturers. Also, there has been increasing demand for fuel economy, extended tire life, and customer comfort is resulting in the growth of the installation of automatic tire inflation system in vehicles. Moreover, demand for commercial and off-road vehicles is significantly increasing in North America owing to a prominent mining industry and expanding construction industry. This in turn is boosting the demand for automatic tire inflation systems in the region.
The growing concerns about tire safety and constant need for safer driving have raised the adoption rates of ATIS systems especially in developed countries like the United States, Germany, and the United Kingdom. Moreover, the government regulations and safety measures for tire inflation on vehicles have also fuelled the demand in aftermarket players in the market. Furthermore, the availability of the system as a retrofit and improved service and repair facilities offered in the aftermarket due to the rising demand will also drive the market’s growth..
The Automotive Automatic Tire Inflator System Market is dominated by several players such as Aperia Technologies, Inc., Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Meritor, Inc., Michelin Inc., Hendrickson USA, L.L.C., Pirelli & C. S.p.A.
- In March 2018, SAF Holland has introduced an automatic tire inflation system in commercial vehicles which is designed to maintain consistent air pressure across multiple tires by addressing both under- and over-inflation, and by warning the driver when a tire requires immediate attention.
- In October 2017, Meritor, Inc announced that its Meritor Tire Inflation System (MTIS) for trailers will include the ThermALERT wheel-end heat-sensing system as standard beginning. ThermALERT is a system that immediately alerts drivers to overheating wheel-ends, increasing safety and minimizing vehicle downtime as well as costs. Globally, more than 1.4 million trailers and 6 million tires are equipped with MTIS.
- In December 2018, Meritor, Inc. announced that various products have been selected as standard position and as preferred options on all Wabash National Corp. dry and refrigerated van trailer products, further strengthening Meritor’s position as a leading supplier to the trailer industry.
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