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The Radar Sensor Market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2026

Additionally, it provides a futuristic perspective on various factors that are likely to boost Radar Sensor Market growth in the years to come. Besides, authors of the report have shed light on the factors that may hamper the growth of the Market.

Read More On The Radar Sensor Market Report Here: https://www.fortunebusinessins....ights.com/radar-sens

As the market share of automatic tire inflation system market size grows from US$ 2.2 Billion in 2023 to over US$ 3.6 Billion in 2033, its net worth is forecast to reach over US$ 3.6 billion by 2033. The global market for automatic tire inflation systems is expected to register a CAGR of 5.2% between 2023 and 2033 due to increased fuel demand and the need to increase tire life expectancy.

An automatic tire inflation system is a device that is installed on commercial vehicles to automatically maintain proper tire pressure. The system continuously monitors tire pressure and inflates or deflates the tires as needed to ensure that they remain within the recommended pressure range. Maintaining proper tire pressure is important for several reasons. Underinflated tires can reduce fuel efficiency, cause premature wear and tear on the tires, and increase the risk of a blowout or other tire-related accidents. Overinflated tires can also cause problems, such as reduced traction and a rougher ride.

A rise in the demand for all-terrain and military vehicles, an increase in safety features in vehicles, and a need for increased passenger comfort all contribute to the growth of the global automotive automatic tire inflation system market.

Due to its several advantages, including improved fuel efficiency and extended tire life, automatic tire inflation systems are becoming increasingly popular in emerging economies, particularly in developing countries. The majority of the market for automatic tire inflation systems is driven by the increase in vehicle automation, as well as the increase in vehicle automation.

In the global automotive automatic tire inflation system market, technological advancements and integration with telematics are expected to boost revenues.

For more information: https://www.futuremarketinsigh....ts.com/reports/autom
Key Takeaways from the Automatic Tire Inflation System Market Study

The automatic tire inflation system is expected to increase at a notable CAGR of 5.2%.
North America dominates the market for automatic tire inflation systems.
Asia Pacific region is expected to grow at the fastest rate with an increased revenue share.
Backed by the steadily expanding manufacturing hubs and growing demand from the automotive sector, China is the hotspot for stakeholders in the global automatic tire inflation system industry.
Germany is the dominating country in Europe’s automatic tire inflation system industry and is set to remain in that position through 2033.
Competitive Landscape for the Automatic Tire Inflation System Market

There are several manufacturers who have introduced multi-performance variants of their products in an attempt to expand their product portfolios and attract consumers from a variety of industry verticals. An imperative part of a company's marketing strategy is to increase its market position by executing strategies such as mergers and acquisitions. In order to improve its position in the market, the company has implemented these strategies in order to remain competitive and gain a competitive advantage. Automatic tire inflation system manufacturers have invested heavily in R&D, resulting in several novel products that can be used across the previously niche market.

Some major automatic tire inflation system manufacturers include Dana Incorporated, Meritor, Inc., EnPro Industries, Inc., Nexter Group, Servitech Industries, Inc., Hendrickson USA, L.L.C., Tire Pressure Control International Ltd., PTG Reifendruckregelsysteme GmbH, Aperia Technologies, Inc., Systems GmbH, Bigfoot Equipment Ltd., Tibus Offload Ltd. & Co. KG, AIR CTI, FTL Technology Limited, Col-Ven S.A.

Recent Developments in the Automatic Tire Inflation System Market

Michelin has introduced Zen@Terra, an all-around solution that allows tractor tire air pressure to be adjusted. In partnership with Masternaut (France), Michelin acquired one of the major European telematics companies. Masternaut Telematics provides TPMS which can be interfaced with onboard ATIS/CTIS systems for a user-friendly experience.
As an option on their 8R series tractor, John Deere (US) will offer a home-built ATIS system in 2021.
AIR CTI launched its new AIR Central Tire Inflation System, LMTV Tire Inflation System, and others a couple of years back.
In February 2022, Tesla patented the first ever on-the-go tire inflation system catering to both passenger cars and commercial vehicles. The upcoming semi-truck is also expected to be compatible with this system.

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The Broadcast Equipment Market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2029

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The automotive tire market size is expected to grow at a CAGR of 6.6% from 2023 to 2033. The market is valued at US$ 503.9 Billion as of 2023, and by 2033, the market is expected to hit a valuation of US$ 958.8 Billion.

The stringent safety norms pertaining to road are expected to surge the sales of automotive tires during the forecast period. A sharp increase in the number of accident cases owing to bad quality tires has motivated the investors to spend huge amounts behind the development of top-notch tires.

Rise in the disposable income, coupled with rapid urbanisation is also expected to surge the demand for automotive tires during the forecast period. Apart from that, low production cost and lenient emission rules in certain parts of the world is also expected to have a positive outlook on the market.

Moreover, the current generation automotive tires have been designed on the grounds of latest technology. This has led to the development of properly mounted, correctly inflated, and balanced automotive tires. This is expected to have a positive effect on the automotive tires market key trends and opportunities.

Vehicle tires are typically made of rubber and reinforced with materials such as steel, nylon, and polyester to improve their strength and durability. Tires are also designed with various tread patterns and depths to provide different levels of traction on different road surfaces and in different weather conditions.

The demand for vehicle tires is expected to continue to grow in the future as more vehicles are manufactured and sold globally. There is also a growing interest in eco-friendly and sustainable tires, which are designed to reduce fuel consumption and emissions while still providing reliable performance.

Furthermore, an increase in the sales of passenger cars is also expected to bring about optimism in the market. The SUVs in general are having a strong penchant in Asia Pacific, particularly in India and China. Even the technological advancements are expected to surge the market share of automotive tires. Owing to this, the manufacturers have developed green tires which are gaining traction especially amongst the youngsters.

Thus, from the insights provided by FMI researchers, it can be inferred that “increasing focus on safety norms, technological innovation in the automobile sector and a number of other factors are expected to surge the automotive tires market share during the forecast period.”

Key Takeaways:

The automotive tires market is expected to grow at a CAGR of 6.6% during the forecast period.
As of 2023, the market is valued at US$ 503.9 Bn.
By 2033, the market is expected to reach a valuation of US$ 958.8 Bn.
Based on the regional analysis, Asia Pacific is expected to be the largest market during the forecast period.
The USA automotive tires market is projected to grow at a CAGR of 6.7%.
The Brazil market is projected to grow at a CAGR of 4.6%.
The Argentina market is projected to grow at a CAGR of 5.7%.
The India market is projected to grow at a CAGR of 7.4%.
The China automotive tires market is projected to grow at a CAGR of 7.3%.
On the basis of vehicle type, the commercial vehicles segment is expected to hold the largest market share, growing at a CAGR of 6.4% during the forecast period.
On the basis of sales channel, the aftermarket segment is expected to have the highest market share, growing at a CAGR of 6.6% during the forecast period.
On the basis of tire structure type, the radial automotive tires are expected to hold the largest market share during the forecast period, exceeding US$ 550.2 Bn by 2031.
For more details: https://www.futuremarketinsigh....ts.com/reports/autom
Competitive Landscape

The key players operating in the market are focusing on the mergers and acquisitions. The companies are merging with one another mainly to access the technologies available with both parties. Apart from that, the market expansion strategy also happens to be one of the key reasons. The key players are also collaborating with the manufacturers from the electric vehicles niche as the market of electric vehicles has a lot of scope going ahead.

The Major Manufacturers of Automotive Tires Market Are:

Continental AG
Bridgestone
Michelin
Goodyear tire and rubber company
Pirelli
Some of the Recent Developments in the Automotive Tires Market Are:

In November 2022, Continental AG announced that it would be making use of skai surfaces to deliver a wide range of solutions for interior fittings on board ships.
In September 2022, Bridgestone announced that it would be investing US$ 60 million to expand the Abilene Bandag Retread Tire Plant.

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