Automatic Tyre Inflation System Market expected to reach $3.6Bn by 2033

The market for automatic tyre inflation systems is expected to grow at a CAGR of 5.2% from 2023 to 2033 because of rising fuel demand and the desire to extend tyre life.

The automatic tyre inflation system industry has been exhibiting steady growth since the past decade, owing to the rise in requirement for utility vehicles, tractors, and heavy commercial vehicles (HCV).

With the increase in investment in research & development (R&D) activities by manufacturers and the key sales channels getting back on track, the automatic tyre inflation system industry is subject to significant growth in the coming years.

According to the report, North America, Europe, and Asia Pacific will remain the leading regions, while high requirements from the utility vehicle segment will drive sales in 20+ countries.

Key Takeaways:

• The global automatic tyre inflation system industry is forecast to expand at over 5% CAGR through 2031
• An increase in application in utility vehicles and heavy commercial vehicles (HCV) is likely to be witnessed
• Original equipment manufacturer (OEM) segment to exhibit hegemony in terms of sales channel
• The United States holds the major chunk of North American industry
• Germany remains the epicentre of the Europe automatic tyre inflation system industry
• The United Kingdom, China, Japan, India, Canada, France, and a few other countries emerged lucrative
• Asia Pacific to register the fastest growth throughout the forecast period

“Advancement in the manufacturing sector coupled with the rise in adoption of various automated systems and solutions in the automotive sector is fuelling the sales of automatic tyre inflation systems,” says an FMI analyst.

How is the recovery of the automotive industry key to automatic tyre inflation system providers?

Automatic tyre inflation systems are highly sought-after in the automotive industry owing to their unlimited advantages over the conventional system such as lower maintenance cost, higher safety, extended tyre life, highly compatible with satellite communication services and telematics systems, and efficiency in providing proper pressure maintenance over the roads.

According to a report titled ‘Automotive Industry Spotlight’ published by SelectUSA, the United States has one of the largest automotive industries in the world, while in 2018, the US light vehicle sales reached 17.2 million units. As stated in the report, new R&D initiatives are transforming the global automotive industry including the US, while according to Auto Alliance, globally $105 Billion is spent on R&D in the automotive industry.

Though the situation changed temporarily in 2020, the automotive sector is getting back on its feet making the automatic tyre inflation system providers optimistic again.

Competitive analysis

The global automatic tyre inflation system market is growing at a steady pace. To capitalise on existing opportunities, key players are focusing on launching quality products.

For instance:

• Michelin has introduced Zen@Terra, an all-around solution that allows tractor tyre air pressure to be adjusted. In partnership with Masternaut (France), Michelin acquired one of the major European telematics companies. Masternaut Telematics provides TPMS, which can be interfaced with onboard ATIS/CTIS systems for a user-friendly experience.
• As an option on their 8R series tractor, John Deere (US) will offer a home-built ATIS system in 2021.
• AIR CTI launched its new AIR Central Tyre Inflation System, LMTV Tyre Inflation System, and others a couple of years back.
• In February 2022, Tesla patented the first ever on-the-go tyre inflation system catering to both passenger cars and commercial vehicles. The upcoming semi-truck is also expected to be compatible with this system.
• Hendrickson USA, LLC developed the TIREMAAX PRO-LB in September 2021 to eliminate the guesswork of tyre pressure management by monitoring air spring pressure and responding automatically to changing loads.
• Danfoss Editron made headlines in April 2021 when it announced that it was collaborating with Meritor Inc. and Electra Commercial Vehicles to expand its product line.

These insights are based on a report on Automatic Tyre Inflation System Market by Future Market Insights.