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Central Tire Inflation Market Size, Share & Industry Analysis By Type (Central tire inflation system, Continuous tire inflation system), By Component (Rotary Union, Compressor, Pressure Sensor, Housing, Air Delivery System, ECU, Buffer Tank), By Vehicle (On-highway Vehicle, Off-highway Vehicle, Electric Vehicle) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105604 | Status : Ongoing

 

KEY MARKET INSIGHTS

The global tire inflation system market is expected to witness market growth at 8.40% in the forecast period of 2021 to 2028 and is expected to reach USD 18,990.17 million by 2028. The rising demand for fuels and the need to increase the life span of tires is escalating the growth of the Central tire inflation system market.


The process of maintaining correct air pressure inside the tires is referred to as tire inflation. Central tire inflation is a critical technology for inflating and deflating tires in a vehicle while it is in motion. The mechanism regulates the air pressure inside the tire based on the road surface, vehicle weight, and tire size and type. It enhances vehicle performance and reduces tire maintenance costs by reducing tire wear due to underinflation and overinflation.

The Increased tire and drivetrain life due to the use of a central tire inflation system and growing concerns about vehicle safety are projected to drive the market in the coming years. In addition, the rising demand for innovative technologies such as a Central Tire Inflation System, which improves fuel efficiency and lowers maintenance costs, is expected to enhance the market in the coming years.

Original equipment manufacturers (OEMs) and parts suppliers have yet to return to full production capacity, except a few Asian countries that have come out of the pandemic. Most of the world has experienced a limited supply of vehicle parts, the shutdown of manufacturing, and a drop in new vehicle sales in Q1 2020.

With the increase in the number of models and new types of vehicles entering the market, the demand for Central tire inflation is expected to increase significantly. Furthermore, expanding middle-class population, rising disposable incomes, and growing urbanization will lead to a rise in the sale of all typed vehicles, which further helps boost Central tire inflation business growth in the coming years.

Increased production and sales in developing countries of the Asia Pacific region is also a contributing factor for developing this market. However, great demand for passenger cars and commercial vehicles abroad and home is also a contributing factor for the market's growth. Also, limitation in the downstream market is expected to hinder the development of the market.

Key Market Driver -

Urbanization and industrialization are becoming more prevalent. • Increasing demand for private commutes, expanding the fleet of automobiles and expanding the manufacture of automobiles. • Scrapping of old automobiles is governed by a set of rules.

Key Market Restraint -

• Increasing demand for tubeless and nitrogen tires.


Market Segmentation:


The global automotive door hinges market can be segmented by type, vehicle type, and region.

By type, the market is segmented into two types: central tire inflation and continuous tire inflation. The demand for central tire inflation systems is predicted to be the largest. Smooth driving conditions, great fuel efficiency, and increased safety are all contributing aspects.

By component, the market is segmented by Rotary Union, Compressor, Pressure Sensor, Housing, Air Delivery System, ECU, and Buffer Tank. In the foreseeable time, ECU is expected to have the highest CAGR. It directs the pressure sensor in determining how much air is required to inflate the tires.

By vehicle, the market is divided into three categories: on-highway vehicles, off-highway vehicles, and electric vehicles. The market is expected to rise due to increased demand for commercial and off-road vehicles as the need for vehicles is increasing day by day.

Key players:


Mercedes-Benz, CM, Dana, STEMCO, URAL, AIR CTI, FTL Technology, VIGIA, Sygeon, and Telefow.

Regional Analysis:


The region is segmented across Europe, North America, Asia-Pacific, and the rest of the world.

The North American region is estimated to hold the largest share, as the demand for an automatic tire inflation system in this region is triggered by growing vehicle safety concerns. North America's automotive industry is one of the fastest-growing industries in the world.

Europe, the market is estimated to account for the second-highest revenue share in the global market. Because advanced technology, such as automatic tire inflation systems, was in high demand in Europe.

Asia Pacific region, People's disposable income is increasing, and they are interested in investing in high-tech and safer vehicles. The Asia Pacific area accounts for a large portion of the global automotive market, and it is expected to continue to grow in the future. The rise of the Automotive Automatic Tire Inflation System industry contributed to this market.

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Segmentation


























 ATTRIBUTE


  DETAILS


By Type



  • Central tire inflation system

  •  Continuous tire inflation system



By Component



  • Rotary Union

  • Compressor

  •  Pressure Sensor

  •  Housing

  •  Air Delivery System

  •  ECU

  •  Buffer Tank



By Vehicle



  • On-highway Vehicle

  • Off-highway Vehicle

  •  Electric Vehicle



By Geography



  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



 





  • Ongoing
  • 2023
  • 2019-2022

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