Meritor (US) and Goodyear Tire & Rubber Company (US) are the Major Players in the Automatic Tire Inflation System Market
The Automatic tire inflation system market is projected to grow from USD 53 Million in 2021 to USD 108 Million by 2027, at a CAGR of 12.5 % during the forecast period. Increasing need for more tire life, increase in fuel efficiency for trucks and trailers are driving the growth and advancements in the Automatic tire inflation system market.
Automatic tire inflation system manufacturers are investing in R&D activities to introduce ATIS systems into Farm tractors, commercial Trucks, and Electric Vehicles. For example, In 2019, Michelin (France) acquired one of the major European telematics companies Masternaut(France). Telematics has a major role in user friendly and data driven tpms which can be integrated with onboard atis/ctis
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The automatic tire inflation system market is led by established players, such as Meritor (US), EnPro Industries (US), Michelin (France), Goodyear Tire & Rubber Company (US), and Dana Incorporated (US). These companies adopted several strategies to gain traction in the market. New product development, partnership and joint venture strategy have been the most dominating strategy adopted by major players from 2018 to 2021, which helped them to innovate on their offerings and broaden their customer base.
Meritor(US) was founded in 1997. It is engaged in developing, manufacturing, and distributing a diverse range of automotive components. The company operates through axles, suspension systems, drivelines, brakes, related components, and other segments. It manufactures axles, suspension systems & drivelines, brakes and brake-related components, and other products. The company spent USD 76 million in 2021, USD 74 million in 2020, and USD 75 million in 2019 on company-sponsored research, development, and engineering. The company has an automatic tire inflation system known as Meritor Tire Inflation System (MTIS). This system helps keep tires inflated to reduce wear and increase fuel economy. Standard ThermALERT wheel-end heat-sensing technology alerts drivers of overheating wheel ends so that drivers can take preventive action to avoid damage.
The Goodyear Tire & Rubber Company(US) was founded in 1898 and is headquartered in Akron, US. The company develops, manufactures, and distributes tires for various applications across industries. Its products can be broadly categorized into two segments-consumer tires and specialty tires. Consumer tires cater to the on-road tire requirements, while the specialty segment provides tires for aircraft, commercial vehicles, off-road vehicles, racing, and RVs. The company spent USD 342.6 million in 2020 on company-sponsored research, development, and engineering. Goodyear introduced its AMT technology that enables better tire life and efficiency.
SAF-HOLLAND(Germany) is headquartered in Bessenbach, Germany. It is a manufacturer of chassis-related systems and components, axle and suspension systems, fifth wheel, kingpin, and landing gear for trailers, trucks, buses, and recreational vehicles. It sells its products to OEMs on 6 continents. In 2018, SAF-HOLLAND launched its automatic tire inflation system. This system is designed to keep air pressure constant by providing under and over-inflation information to the driver. The company also deals in the aftermarket business. SAF-HOLLAND operates in the original equipment and spare parts business segments.
The company has 17 production sites on 6 continents. It has 10,000 spare parts and service stations worldwide. As of December 2020, the company had 3,369 employees
Related Reports:
Automatic Tire Inflation System Market by Type (Central, Continuous), On-Highway Vehicle (LDV, HDV), Off-Highway (Agriculture, Construction), EV (BEV, PHEV, FCEV), Sales Channel (OEM, Aftermarket), Component & Region - Global Forecast to 2027
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