Global Automatic Tire Inflation System Market Analysis 2022
The Global Automatic Tire Inflation System Market is expected to reach $136.75 billion by 2028 growing at a CAGR of 14.5% from 2021 to 2028. Tire inflation refers to the maintenance of air pressure inside a tire. The automatic tire inflation system is utilized to automatically inflate the vehicle tires whenever the internal pressure of the tire drops below the pre-set level.
Factors such as increasing growth concerns regarding vehicle safety and the rising adoption of the autonomous system are driving the growth of the market. However, high costs and lack of awareness about the system among the consumers are restraining the growth of the market.
Based on on-highway vehicle, the heavy duty vehicle segment is going to have a lucrative growth during the forecast period owing to the higher demand for automatic tire inflation systems in heavy duty vehicles. The increasing tire life and fuel efficiency is the key factor driving the growth of the automatic tire inflation system market in heavy duty vehicles.
The key vendors mentioned are SAF-HOLLAND, Opladen LLC, Nexter System, Michelin, Meritor, IDEX Corporation, HALTEC Corporation, Goodyear Tire & Rubber Company, Enpro Industries, Dana Incorporated, Continental AG, CLAAS Group, Bigfoot Equipment, Airgo System and Air CTI.
On-Highway Vehicles Covered:
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