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Automatic Tire Inflation System (ATIS) Market Size
- Report ID: GMI7270
- Published Date: Nov 2023
- Report Format: PDF
Automatic Tire Inflation System Market Size
Automatic Tire Inflation System Market size was valued at USD 0.85 billion in 2022 and is anticipated to register a CAGR of over 10% between 2023 and 2032. The increasing demand for heavy-duty vehicles is driving the expansion of the market.
According to International Energy Agency, in 2022, the global electric bus and medium- to heavy-duty truck sales surged with China leading the market. China's dominance was notable, accounting for around 80% of global electric bus sales and 85% of electric medium- to heavy-duty truck sales. Chinese brands, popular for their Electric Vehicles (EVs), expanded their presence in Latin America, North America, and Europe, signifying the growing influence of Chinese manufacturers in these regional markets for sustainable transportation solutions.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Automatic Tire Inflation System Market Size in 2022: | USD 0.85 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 10% |
| 2032 Value Projection: | USD 2.4 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 323 |
| Segments covered: | Type, Application, Component, Sales Channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The increasing advancements such as smart sensors, integration with ADAS system, real-time adjustments and many more in ATIS are fuelling market progress by offering improved efficiency, enhanced sensor technology, and IoT integration. These innovations provide better tire pressure maintenance, reducing vehicle downtime, optimizing fuel consumption, and ensuring safety. For instance, in September 2023, Infineon launched Xensiv SP49, an intelligent tire pressure monitoring sensor. This sensor offers advanced capabilities for intelligent tire functions, enabling on-tire auto-position sensing, aiding in inflation, detecting tire blowouts, and monitoring load. Its design enhances tire safety and performance with innovative & precise monitoring features.
The high initial investments pose a challenge to market demand. The significant upfront expenses for acquiring and installing ATIS may deter potential buyers, impacting their cost-benefit analysis. Convincing vehicle owners or fleet operators of the long-term value and cost savings from improved fuel efficiency and reduced maintenance remains a barrier for wider ATIS adoption across vehicle segments.
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Automatic Tire Inflation System Market Scope
