Global auto tyre inflation systems market to grow by 5.6%

May 14, 2019

The global automatic tyre inflation system market is expected to change by specific drivers and restraints from 2017 through 2027 – the market will reportedly register a CAGR of 5.6% during this forecast period, with an overall positive outlook for the long haul.

US military vehicles such as heavy equipment transports, palletised load carriers and high-mobility tactical vehicles are usually installed with central tyre inflation systems, hence the rise in production and sales of such military vehicles is anticipated to bolster the market and will drive demand for automatic tyre inflation systems.

Moreover, a surge in the installation of automatic tyre inflation systems in heavy-duty trailers over the coming years will eventually lead to the growth of the North American market. Countries in Western Europe contribute to the use of automatic tyre inflation systems in agriculture, forestry and mining, so the Western European automatic tyre inflation systems market accounted for a value share of 36.7% by end-2017, and is forecast to represent a total incremental opportunity of US$352 million by 2027.

The development of fuel efficient systems that reduce fuel consumption is also a current environmental concern that reinforces the automatic tyre inflation system market.

Otherwise, utility vehicles are projected to continue to lead the market during the forecast period, representing a total incremental opportunity of US$ 543.9 million. The heavy commercial vehicle (HCV) segment will grow by a significant CAGR between 2017 and 2027, while the aftermarket sales channel, which comprises of systems and components, is estimated to share a combined value of 50% in the automatic tyre inflation system market. The aftermarket segment is poised to grow at a CAGR of 5.8% during this time.

Future Market Insights (FMI) has included these in its most recent ‘Automatic Tire Inflation System Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027’ report, and highlights top companies like Col-Ven, FTL Technology, AIR CTI, Tibus Offroad, Bigfoot Equipment, and others that operate in the growing automatic tyre inflation system market.

Tags:

Rubber Prices
(Last Updated: 16 May 2019)

Monthly The prices shown above do not include VAT @4% on purchase and expenses towards packing, transportation, warehousing  and other incidentals


Source: Latex India
Flag Counter

Automotive

PRA ELECTRONIC ISSUE
PRA May issue

Click here & browse