The North America Automatic Tire Inflation System Market would witness Market growth of 11.1% CAGR during the forecast period (2022-2028).
An automatic tire inflation system Market is a system that allows for consistent monitoring of tire air pressure and subsequent action of inflating or deflating the tire as and when required depending on the nature of the terrain. ATIS can lead to longer tire life and a significant improvement in the average fuel economy per vehicle.
The automatic tire inflation system Market is additionally influenced by the global development of vehicle electrification, the rising need for remote diagnostics systems, and increasing vehicle connectivity. Furthermore, rising fuel demand, the disappearance of conventional fuels, improved socio-economic conditions, shifting consumer tastes, and rising disposable income levels all benefit the automatic tire inflation system Market . In addition, during the forecast period, the growth in demand for increasing vehicle productivity and lowering downtime, as well as favorable government laws governing tire inflation, provide profitable prospects for autonomous tire inflation system Market players.
In the United States, the highly advanced automobile sector and increased investment by key manufacturers are supporting demand growth. Annually, millions of new light vehicles and over a hundred thousand medium and heavy trucks are manufactured in the United States and a substantial portion of it is exported to other countries. Thus, undoubtedly North America has become a hotspot for automatic tire inflation system manufacturers.
Every year, a substantial number of accidents involving tire failure occur in the United States. According to a National Highway Traffic Safety Association (NHTSA) report, 38,680 people died in motor vehicle traffic accidents. This number can be brought down with the deployment of automatic tire inflation systems in vehicles and thousands of lives can be saved.
The US Market dominated the North America Automatic Tire Inflation System Market by Country in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $31.5 million by 2028. The Canada Market is estimated to grow at a CAGR of 13.7% during (2022 - 2028). Additionally, The Mexico Market would witness a CAGR of 12.7% during (2022 - 2028).
Based on Sales Channel, the Market is segmented into OEM, and AfterMarket . Based on Vehicle Type, the Market is segmented into On-Highway Vehicle (Light Duty Vehicle, and Heavy-Duty Vehicle), Off-Highway Vehicle (Construction Vehicle, and Agriculture tractors), and Electric Vehicles (Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle). Based on Type, the Market is segmented into Central Tire Inflation System, and Continuous Tire Inflation System. Based on Component, the Market is segmented into ECU System, Compressor, Pressure Sensor, Rotary Union, Air Delivery System, Housing, and Others. Based on countries, the Market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Automatic Tire Inflation System Market is Estimated to reach $123.4 Million by 2028, at a CAGR of 12.4%
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include The Goodyear Tire & Rubber Company, Meritor, Inc., SAF-Holland SE, Michelin, Dana Incorporated, EnPro Industries, Inc., IDEX Corporation, Hendrickson USA, LLC (The Boler Company), Haltec Corporation, and ti.systems GmbH.
By Sales Channel
By Vehicle Type
By Type
By Component
By Country
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