Fior Markets launched a study titled “Global Automatic Tire Inflation System Market by Type (Central & Continuous), Component, On-Highway Vehicle, Off-Highway Vehicle, Electric Vehicle, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global automatic tire inflation system market is expected to grow from USD 903.4 Million in 2017 to USD 1,780.7 Million by 2025 at a CAGR of 8.9% during the forecast period from 2018-2025. High demand for automatic tire inflation systems in growing economies and improving socio-economic conditions which leads to increasing income levels are two factors mobilising the market growth.
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Central tire inflation system segment held largest market share of 58.90% in 2017
The type segment is classified into central tire inflation system and continuous tire inflation system. The central tire inflation system segment has dominated the market in 2017 due to improved productivity, increased life span of vehicle and efficiency in fuel consumption.
ECU segment is dominating the market with the largest market share of 21.80% in 2017
Component segment includes ECU, compressor, air delivery system, buffer tank, housing, rotary union & pressure sensor. ECU segment is estimated to have the largest market share. It helps in controlling the pressure sensors in automatic tire inflation system by guiding and gauging the amount of air required.
Commercial Vehicle segment is growing with the highest CAGR of 9.81% in the forecast period
On-Highway Vehicle segment is divided into segments passenger car & commercial vehicle. Commercial Vehicle segment is anticipated to grow with the highest CAGR in 2017. Favourable government policies on installation of automatic tire inflation systems is expected to boost the market for the commercial vehicle segment
Agriculture segment is dominating the market with USD 620.64 Million in 2017
The Off-Highway Vehicle segment includes agriculture & construction. Agriculture segment is dominating the automated test equipment market in 2017 as agricultural vehicles such as tractors and harvesters need low tire pressure for efficient functioning and effective fuel consumption.
Hybrid Electric Vehicle (HEV) segment is dominating the market with USD 251.15 Million in 2017
The Electric Vehicle segment includes Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV). Hybrid Electric Vehicle (HEV) has dominated the market in 2017 as such type of vehicles ensure better performance and economical usage of fuel compared to a conventional one.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately 34.40% in 2017.
The major players of market include FTL Technology Limited, Dana Incorporated, PTG Reifendruckregelsysteme GmbH, Bigfoot Equipment Ltd., Nexter Group, AIR CTI, Meritor Inc., Hendrickson USA LLC, Col-Ven S.A., Tire Pressure Control International Ltd., EnPro Industries Inc., Aperia Technologies, Inc., Tibus Offroad Ltd. & Co. KG, ti.systems GmbH, and Servitech Industries Inc.
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