CHICAGO, June 8, 2023 /PRNewswire/ — Automatic Tire Inflation System Market is projected to grow from USD 82 million in 2023 to USD 138 million by 2028, at a CAGR of 10.7% during the forecast period, according to a new report by MarketsandMarkets™. The increasing demand for improved tire life and to prevent accidents due to tire blowouts, the demand for ATIS in heavy-duty vehicles and farm tractors would create growth opportunities.
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Browse in-depth TOC on “Automatic Tire Inflation System Market”.297 – Tables56 – Figures316 – Pages
Automatic Tire Inflation System Market Scope:
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Report Coverage |
Details |
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Market Size |
USD 138 million by 2028 |
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Growth Rate |
10.7% of CAGR |
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Largest Market |
North America |
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Market Dynamics |
Drivers, Restraints, Opportunities & Challenges |
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Forecast Period |
2023-2028 |
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Forecast Units |
Value (USD Million) |
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Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
Type (Central, Continuous), On-highway Vehicle (LDV, HDV), Off-highway (Agriculture, Construction), Electric Vehicles (Truck, Bus), Sales Channel (OEM, Aftermarket), Component, Region |
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Geographies Covered |
Asia Pacific, North America, Europe, and the Rest of the World [RoW] |
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Report Highlights |
Updated financial information / product portfolio of players |
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Key Market Opportunities |
Rise in the integration of telematics in vehicles |
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Key Market Drivers |
Increase in tire and drivetrain life |
ATIS for Farm Tractor is expected to be the largest segment for ATIS system in off-highway ATIS systems during the forecast period.
The farm tractor market is projected to grow from ~USD 54 billion in 2022 to ~USD 69 billion by 2027, at a CAGR of 5.0% over the forecast period. >130-250 HP tractors are expected to be the fastest-growing market during the forecast period globally. Europe is the largest market for these tractors due to the increasing traction of tractors with high-pulling power and the growing demand for commercial agriculture. Most of these >130-250 HP tractors have an automatic tire inflation system (ATIS). Europe is also the largest market for >250 HP farm tractors. The increasing popularity of commercial farming and new product launches by various major players are expected to boost the market in the region. For instance, Michelin EVOBIB is the first agricultural tire in the market designed specifically for use with Central Tire Inflation Systems (CTIS).
Alternatively, the penetration of ATIS is negligible in