Global Automatic Tire Inflation System Market is projected to grow due to safety regulations

From GlobeNewswire: 2024-06-13 22:00:00

The Global Automatic Tire Inflation System Market Size is projected to grow from USD 81.99 Million in 2023 to USD 228.9 Million By 2033, with a Compound Annual Growth Rate (CAGR) of 10.81%. The automotive ATIS market involves buying and selling parts for bicycles. Strict safety regulations are pushing automotive manufacturers to integrate tire inflation systems for safety and improved fuel efficiency. Although the high initial costs may deter some buyers, properly inflated tires can enhance fuel economy. The central tire inflation segment is expected to dominate the market, especially in handling various terrains. Commercial vehicles are driving the demand for automatic tire inflation systems, with North America leading the global market. Asia Pacific is poised for rapid growth due to increased commercial vehicle fleets. The key players in the market include Aperia Technology Inc., Parker Hannifin Corporation, Meritor Inc., and more. In April 2023, BFGoodrich Tires launched BFGoodrich ActivAir, a tire inflation system to enhance off-road capabilities. Market segmentation includes product type (central tire inflation, continuous tire inflation) and vehicle type (commercial, passenger vehicles). Spherical Insights & Consulting focuses on providing market research and consulting services to help businesses make informed decisions and achieve strategic improvements. Get in touch for more information on your target market.



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