Japan, Japan, Wed, 11 Nov 2020 04:10:12 / Comserve Inc. / -- The automotive sector across the globe is growing rapidly due to rise in demand for advanced automotive system and technology.
Global Automotive Automatic Tire Inflation System (ATIS) Market is anticipated to grow with a healthy growth rate of more than 8.5% over the forecast period 2020-2027. The automotive sector across the globe is growing rapidly due to rise in demand for advanced automotive system and technology. Nowadays, the automatic tire inflation system (ATIS) is extensively utilized to overcome the sources of tire underinflation through observing tire inflation pressure comparative to re-inflating tires and pre-set target whenever the perceived pressure is lower the target level. The enhanced automatic tire inflation system can increase tire productivity and boost fuel efficiency. These systems further provide vehicle safety and passenger comfort, thus accelerating the market growth all over the world. Moreover, the constant growth in production and sales of passenger car and commercial vehicles, along with rising concern relating to tire safety and persistent requirement for safer driving are the few factors responsible for the CAGR of the market during the forecast period.
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According to the International Organization of Motor Vehicle Manufacturers (OICA), the sales of commercial vehicle around the world was accounted 27 million units in the year 2019, representing an increase from 24.3 million units since 2016. Likewise, as per the source, the production of commercial vehicle in Europe was valued 2.78 million units in the year 2018, which increased to almost 2.83 million units in 2019. This, in turn, is likely to strengthen the demand for automotive automatic tire inflation system (ATIS), thereby contributing to the market growth around the world. However, the high cost of automatic tire inflation system is one of the prime factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Automotive Automatic Tire Inflation System (ATIS) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the escalating demand for extended tire life, better fuel efficiency, and driver comfort, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in production of passenger vehicles and commercial vehicles coupled with stringent government norms for vehicle safety in the developing nations, such as China and India, would create lucrative growth prospects for the Automotive Automatic Tire Inflation System (ATIS) market across the Asia-Pacific region.
Major market player included in this report are:
Aperia Technologies, Inc.
Goodyear Tire & Rubber Company
STEMCO Products Inc.
Hankook Tire & Technology group
Pressure Systems International, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Vehicle Type:
Rest of the World
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