Automatic Tire Inflation Market By Service (Navigation, Operational Data, Remote Diagnostics, Multimedia Streaming, Social Media, OTA updates, On-road assistance, E-call & Sos Assistance, Cybersecurity, Remote Operation, Collision Warning and Others), Hardware (Head Unit, Central Gateway, Intelligent Antenna, Electronic Control Unit, Telematic Control Unit, Keyless Entry System, Sensors), Transponder (Onboard Unit, Roadside Unit), Network (Operational Data, Dedicated Short Range Communication, Cellular) Form (Embedded, Tethered, Integrated), End-Market (Original Equipment Manufacturer (OEM), Aftermarket) Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Market Overview
The global automatic tire inflation market is anticipated to reach USD 1.2 billion by 2020 growing at a CAGR of 8.1% during the forecasting period, 2020-2028. An automatic tire inflation system is the system that is used for maintaining the proper tire pressure and preventing tire failure. These help in improving the performance and the main aim is for decreasing tire wear and improving the fuel economy. Factors such as rise in fuel economy and rise in safety concerns over vehicles are some of the major factors for the automatic tire inflation market
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Key Findings
The global automatic tire inflation system market is segmented into type, component, vehicle, and geography.
The type segment is segmented into Central Tire Inflation System, Continuous Tire Inflation System.
The component segment is segmented into Air Delivery System, Buffer Tank, Compressor, ECU, Housing, Pressure Sensor, and Rotary Union.
The vehicles segment is segmented into On-Highway Vehicle, Off-Highway Vehicle, and Electric Vehicle. On-Highway Vehicle is further segmented into Passenger Car, Commercial Vehicle, Off-Highway Vehicle is further segmented into Agricultural Vehicles, Construction Vehicles. Electric Vehicles is further segmented into Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Battery Electric Vehicle, Fuel Cell Electric Vehicle).
Geographically, the global automatic tire inflation system market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions.
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Regional Analysis
Europe region is the largest contributor to the augmented intelligence market in the forecast period 2020-2028 and the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period 2020-2028.
Competitive Landscape
Key players in the global automatic tire inflation market are Wabco, Enpro Industries, Michelin, Goodyear, Dana Incorporated, SAF-Holland, IDEX Corporation, The Boler Company, Airgo Systems, Aperia Technologies, Haltec Corporation, TI Systems, Pressure Systems International, Opladen LLC, Trans Technologies Company, Servitech Industries, Vigia, VELOCITY, Tibus Offroad, Nexter System, Teleflow, Raytech Group, Bigfoot Equipment, Air CTI among others.
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Recent Developments
The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:
- In 2019, WABCO has announced to be acquired by the ZF Friedrichshafen which would help both companies to combine their product portfolios which consist of components for vehicle safety and efficiency and serve the OEMs &fleets in the automotive and commercial vehicle industry.
- In 2019, SAF-Holland has acquired a major stake in PressureGuard which is engaged in distributing automatic tire pressure management solutions.
Hence, tremendous progress has been made over the last decade and yet a lot more to come in recent years.
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