Asia Pacific Automatic Tire Inflation System Market Size, Share & Industry Trends Analysis Report By Sales Channel, By Vehicle Type, By Type, By Component, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Automatic Tire Inflation System Market would witness Market growth of 13.4% CAGR during the forecast period (2022-2028).
In the current context, the automatic tire inflation system Market is witnessing intense growth in terms of investments, severe laws, trials being conducted in various off-road vehicles, and deployment for the future, and is expected to expand in the coming years. The Market for automatic tire inflation systems is dominated by a few well-known businesses from across the region who invests heavily in order to provide the most modern service to their consumers. In addition, a few key stakeholders in the automatic tire inflation system ecosystem are active in the end-to-end development of automatic tire inflation system technology and ensuring that the best service is provided to users. Over the forecast years, substantial expansion in the Market for autonomous tire inflation systems are expected to be enabled by government support for research and development, strategic alliances between technology providers and tire producers, and technology providers and automobile OEMs.
The installation of ATIS decreases tire maintenance expenses, minimizes tire downtime, reduces tire wear and tear, and saves fuel for the vehicle owner. Using ATIS to manage tire pressure minimizes the amount of human tire pressure checks while also allowing tire pressure to correlate to a variety of road terrains efficiently.
With the arrival of the Renault Duster in India, the demand for small sport utility vehicles exploded. Maruti Suzuki, Honda, Volkswagen, Toyota, Hyundai, Ford, and Nissan are among the companies that have entered or are planning to enter this burgeoning segment in India. Although the number of off-road sport utility vehicles in emerging economies is small, it is expected to expand substantially in the future. As the number of sport utility vehicles increases in the country, so will the demand for automatic tire inflation systems as these systems help SUVs function efficiently on all kinds of terrains.
China is the leading country in the Asia Pacific, which has the world's fastest-growing automatic tire inflation systems industry. In addition, China is the epicenter for stakeholders in the automatic tire inflation system Market , owing to its continually expanding manufacturing centers and rising demand from the automotive sector. Also, China continues to have the world's largest automotive sector, according to a report published by the China Privacy Shield Framework, with the Chinese government projecting that automotive output will reach 35 million units by 2025. According to the China Association of Automobile Manufacturers, China sold over 27 million vehicles in 2018, with 23.79 million passenger cars and 4.38 million commercial vehicles. This is an estimate of the size of the Market for automatic tire inflation system manufacturers in China.
The China Market dominated the Asia Pacific 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 $9.5 million by 2028. The Japan Market is anticipated to grow at a CAGR of 12.7% during (2022 - 2028). Additionally, The India Market would showcase a CAGR of 14.1% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
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.
Scope of the Study
Market Segments Covered in the Report:
By Sales Channel
By Vehicle Type
- On-Highway Vehicle
- Light Duty Vehicle
- Heavy Duty Vehicle
- Off-Highway Vehicle
- Construction Vehicle
- Agriculture tractors
- Electric Vehicles
- Battery Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
- Central Tire Inflation System
- Continuous Tire Inflation System
- ECU System
- Pressure Sensor
- Rotary Union
- Air Delivery System
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- The Goodyear Tire & Rubber Company
- Meritor, Inc.
- SAF-Holland SE
- Dana Incorporated
- EnPro Industries, Inc.
- IDEX Corporation
- Hendrickson USA, LLC (The Boler Company)
- Haltec Corporation
- ti.systems GmbH
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