Automatic Tire Inflation System Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Automatic Tire Inflation System Market is expected to grow at a significant rate of around 13% during the forecast period. The autonomous tire inflation system can prolong the life of a vehicle by maintaining the required air pressure in the tire, boosting fuel efficiency, cutting down on the time and expense associated with tire replacement, and reducing wear. Additionally, the industry is expanding because of factors like growing vehicle safety concerns and enhanced tire life spans. Furthermore, maintaining the correct tire pressure, which depends on the road, the load, the size of the vehicle, and other factors, is made possible by this contemporary tire inflation system. Moreover, the increasing agricultural and commercial activities are raising the adoption of heavy commercial vehicle and it requires extra care of the tires.

Dana Incorporated, Meritor Inc., Nexter Group, Hendrickson USA L.L.C., Tire Pressure Control International Ltd., Aperia Technologies Inc., Systems GmbH, Tibus Offload Ltd. & Co. KG, FTL Technology Limited, Col-Ven S.A. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst product type, central tire inflation category to witness robust CAGR during the forecast period”

Based on product type, the market is segmented into central tire inflation and continuous tire inflation. central tire inflation category to witness higher CAGR during the forecast period. Moreover, to increase the performance of a vehicle’s tires, a central tire inflation system regulates the air pressure in each tire individually. The market is expanding because of factors including increased productivity, mobility, and efficiency for vehicles traveling on different surfaces

“Amongst application, the heavy-duty vehicle to hold a significant share in the market in 2020”

Based on application, the market is categorized into the light-duty vehicle and heavy-duty vehicles. Among these, the heavy-duty vehicle to hold a significant share in the market in 2020. The rising adoption of agricultural activities, import, and export of goods, and advancement in the population are driving the growth of the market. In addition, the heavy-duty vehicle is mostly used to carry the load and has the requirement of the extra care to the tires.

“North America to hold a significant share in the market”

In 2020, North America held a significant share of the global market. This is mainly attributed to the increasing recreational expenditure and the rising number of off-roading events driving the region’s automotive tire inflation system market. Moreover, the growing preference of the youth toward adventure and off-road events and the availability of a wide range of products across varied prices are the factors that drive the growth of the industry. In addition, the growing interest in agricultural and commercial activities require heavy-duty vehicle. Moreover, it is expected that the market will continue to grow at a steady rate during the forecast period owing to the high-income levels of the consumers in the region coupled with rising awareness about the importance of safety and the advanced features in the vehicle.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

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Research Methodology

Research Methodology for the Automatic Tire Inflation System Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global automatic tire inflation system market were the three major steps undertaken to create and analyze the adoption of automatic tire inflation systems in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Automatic Tire Inflation System market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the automatic tire inflation system market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the automatic tire inflation system market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, and sales channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the automatic tire inflation system market. Further, we conducted factor analysis using dependent and independent variables such as product, application, and sales channel of automatic tire inflation systems. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the automatic tire inflation system market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global automatic tire inflation system market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the automatic tire inflation system market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global automatic tire inflation system market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global automatic tire inflation system market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, application, and sales channel in the global automatic tire inflation system market.

The main objective of the Global Automatic Tire Inflation System Market Study

The current & future market trends of the global automatic tire inflation system market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the automatic tire inflation system market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type, application, and sales channel.
• Define and analysis of the regulatory framework for the automatic tire inflation system
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the automatic tire inflation system market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Automatic Tire Inflation System market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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