A drop in tire pressure can result in reduced fuel efficiency, tire life, vehicle performance, and safety. The air pressure of the vehicle should be maintained at an ideal level to extract the best performance from the vehicle. Inflating of tires is a recurring task and often requires considerate manpower. Therefore, the automatic tire inflation system was introduced to ensure safety and better performance of the vehicle. With the growing environmental concerns and recent oil hikes, the automatic tire inflation system is designed to improve the gas mileage, reduce tire wears, and enhance the handling and overall experience. The demands for an automatic tire inflation system is increasing simultaneously with the incrementing demands in the automotive industry.
Expansion of the automotive industry in the form of electric vehicle (EV) and autonomous vehicle (AV) is also one of the solid reasons burgeoning the demand in the automatic tire inflation system market. As per the reports released from the International Organization of Motor Vehicle Manufacturers (OICA), the manufacturing of motorized vehicle including commercial and passenger vehicles surpassed 91 million units in 2018 and the demands and production are still on a rise. Taking into account the exuberant volume of production, it is evident that the segment will demand a significant number of tires which will, in turn, support the growth in the automatic tire inflation system market. The automatic tire inflation system consists of wheel-end assembly and control module. The wheel-end assembly is connected to the control module which continuously reads the pressure and notifies the assembly module if the pressure is less than the ideal pressure. Further, the compressor comes into the picture which starts filling the air inside the tire through a unidirectional valve with the help of the control unit. The pressure sensors automatically stop the process of air filling once the upper limit of the required air pressure is reached. The implementation of an automatic tire inflation system is mandatory as most of the vehicle owners are unaware of the fact that the tires of their cars are under-inflated or over-inflated. Thus, vehicle owners tend to lose a significant amount of money due to decreased fuel efficiency and increased tire wear.
The automatic tire inflation system market size was observed at $935 million in the year 2018 and the demands in the same are expected to grow at a positive CAGR of 8.89% during the forecast period 2019 to 2025.
Geographical Analysis in the Automatic Tire Inflation System Market
The North American region held the largest geographical share in the automatic tire inflation market. The region grabbed 29.76% of the total automatic tire inflation system market share in 2018. The North American automotive sector is considered as one of the fastest-growing automotive sectors in the world and the presence of some of the key players in the market also resonates with the massive share of North America in the automatic tire inflation system market. Additionally, the increasing safety concerns regarding vehicles in the region are also boosting the market growth. In 2017, 738 deaths were recorded in the United States which occurred in tire-related crashes. Thus, the growing concerns over safety from tire-related incidents are burgeoning the demands in the North American automatic tire inflation system market.
Application Analysis in the Automatic Tire Inflation System Market
The commercial vehicle segment was observed as the key application segment in the automatic tire inflation system market. The segment is projected to grow at a CAGR of 9.97% during the forecast period. Governments in a few of the developing and developed economies are focusing on the installation of an automatic tire inflation system that is expected to boost the demands in the market. Commercial vehicles such as buses and trucks generally travel a long distance and driving a vehicle with inadequate air pressure hampers the vehicle’s fuel efficiency, weight balance of the vehicle, and can lead to accidents. Thus, considering the safety factor, the governments across the world are estimated to invest in an automatic tire inflation system which in turn will benefit the market.
Automatic Tire Inflation System Market Competitive Landscape
The companies influencing the automatic tire inflation system market are Westinghouse Air Brake Company (WABCO), EnPro Industries, Michelin, The Goodyear Tire and Rubber Company, Dana Incorporated, SAF-HOLLAND Inc., IDEX Corporation, and The Boler Company. Features and products of some of the companies are mentioned below.
SAF-HOLLAND Inc: The German company SAF-Holland introduced an intelligent tire pressure management system called the Tire Pilot Plus. This system is designed to provide proper and consistent inflation pressure in tires. Tire Pilot can also release air in case of excess air in the tires which helps the trailers and trucks to maintain a constant tire pressure across a trailer. This system can control the maintenance costs of trailers by reducing the resources and time spent on tire replacement and repair. Additionally, the system also monitors the health of the tire regularly which ultimately omits the need for a routine tire pressure check.
Continental AG: Continental AG developed Tire Pressure Monitoring System (TPMS) which is connected to brake systems and wheel sensors. This system monitors the pressure in real-time and is designed in such a way that intimates the driver about the low or high tire pressure through a monitor fixed on the vehicle dashboard. Implementing this system allows the vehicle owner to optimize the tire performance by reducing the wear and watching the carbon emissions.
Dana Incorporated: The American company Dana Incorporated produces highly efficient and innovative tire-pressure monitoring system for a broad range of military, vocational, and linehaul applications. In linehaul trucking, 12% of on-highway tires are under-inflated which are sometimes the major reason for accidents. Maintaining the correct tire pressure extends the life of tires by 15%. This linehaul system eliminates the need for manual tire checks. Vocational trucks used in fire and rescue, oil & gas, and construction experience tough terrains and often are needed on an urgent requirement. An automatic tire-inflation system in such trucks enhances the availability of a perfectly working truck at all times. Also, this system is equipped with a pressure release mechanism which releases the excessive air inside the tires. Another notable development is the Central Tire Inflation System (CTIS). This system is majorly developed for application in the military vehicles. This is an advanced tire system which prohibits the military vehicles from disabling through wheels. It is considered as one of the most durable and strong systems to maintain the tire life and prevent damage to the tires in the battlefield.
Therefore, the vast automotive sector has plenty of application areas for the implementation of an automatic tire inflation system which is proposed to contribute to the revenues generated in the global automatic tire inflation system market.