Global Automotive Automatic Tire Inflation System Market Size, Share, Growth Analysis, By Application, By Sales Channel(Original Equipment Manufacturers and Aftermarket), By Product - Industry Forecast 2024-2031

Global Automotive Automatic Tire Inflation System Market size was valued at USD 844.8 million in 2022 and is poised to grow from USD 957.16 million in 2023 to USD 2599.10 million by 2031, growing at a CAGR of 13.30% during the forecast period (2024-2031).

The global automotive automatic tire inflation system market is witnessing strong growth driven by various factors such as increased demand for all-terrain and military vehicles, as well as a rise in safety feature integration in vehicles. Moreover, the emphasis on driving comfort further boosts the adoption of these systems. However, challenges like high implementation costs and configuration complexities hinder market expansion, alongside the obstacle of substituting compressed air tires with nitrogen tires. Despite these hurdles, promising opportunities arise from technological advancements in vehicles and the integration of automatic tire inflation systems with telematics, which are expected to fuel market growth significantly. In parallel, the automotive industry's rapid expansion, fueled by continuous technological advancements, particularly in tire frictional resistance properties through intensive research and development initiatives, plays a pivotal role in driving the demand for automotive automatic tire inflation systems. This alignment with the escalating demand for more efficient and reliable tire systems underscores the growing adoption and market growth of automatic tire inflation systems within the automotive industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Automotive Automatic Tire Inflation System Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Automotive Automatic Tire Inflation System Market Segmental Analysis

The global Automotive Automatic Tire Inflation System market is segmented into various major segments. On the basis of application, it is bifurcated into light-duty vehicles and heavy-duty vehicles, on-the-road tires and off-the-road tires. By sales channel, it is fragmented into original equipment manufacturers (OEMs) and aftermarket. On the basis of vehicle type, it is bifurcated into passenger cars and commercial vehicles. On the basis of product type, it is bifurcated into central tire inflation, continuous tire inflation. Region wise, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

Drivers of the Global Automotive Automatic Tire Inflation System Market

Versatile utility all-terrain vehicles, prized for their adaptability, find application across diverse sectors including military, agriculture, construction, and forestry. The notable expansion observed in military operations, agricultural practices, and construction projects reflects a growing need for these vehicles across various industries. This increasing demand for utility all-terrain vehicles is expected to have a significant impact, particularly fueling a favorable trend in the automotive automatic tire inflation system market. With these sectors experiencing substantial growth, the concurrent rise in the use of such vehicles is predicted to significantly bolster the demand for automatic tire inflation systems within the automotive sector.

Restraints in the Global Automotive Automatic Tire Inflation System Market

The continuous advancement of technology necessitates frequent updates to automotive systems and software to ensure compatibility with the changing external landscape. However, the expense involved in these upgrades is considerable, covering elements like sensors, radio frequency technologies, and complex fuzzy logics. Integrating multiple components and sensors onto a single dielectric plate during the assembly process adds to the costs, as does the bulkiness of the system, which requires connection to wireless devices in vehicles for smooth and efficient functionality.

Market Trends of the Global Automotive Automatic Tire Inflation System Market

The convergence of Automatic Tire Inflation Systems (ATIS) with telematics represents a notable advancement, elevating the reliability and technological sophistication of air tire inflation systems. This fusion facilitates effortless automation within the system, thereby augmenting its efficiency. Moreover, with a heightened focus on road safety and the enforcement of stringent governmental mandates globally mandating the integration of automatic tire inflation systems into new vehicles, there's an anticipation of burgeoning opportunities for growth in the automotive automatic tire inflation system market in the coming years.