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Nitrogen Tire Inflators Market - Growth of the Tire Industry to Influence the Nitrogen Tire Inflators Market | Severity of Tire-related Accidents and Removal of Spare Tires Will Encourage the Use of Nitrogen Tire Inflators

05-03-2019 10:44 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

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Nitrogen Tire Inflators Market - Growth of the Tire Industry

With a mounting number of road fatalities and accidents across the world, concerns about vehicle safety and drivers’ safety are increasing among consumers. This is leading to an increasing number of consumers paying more attention towards the regular maintenance of their vehicles. Eventually, awareness about the benefits of making use of nitrogen as an inflation gas is increasing among consumers, which is ultimately boosting demand for nitrogen tire inflators across various end-users. Benefits of adopting nitrogen tire inflators include higher fuel economy, lower rolling resistance, and lower inflation pressure loss rates (IPLR), which can increase the service life of new vehicles efficiently.

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Growing awareness about the advantages of nitrogen inflations is expected to result in a substantial rise in demand for nitrogen tire inflators in the upcoming years. Rising adoption of nitrogen tire inflators for passenger cars and light trucks is further boosting the growth of the nitrogen tire inflators market. The nitrogen tire inflators market is witnessing healthy growth with the recent developments in the tire industry as well. This is encouraging manufacturers and distributors active in the nitrogen tire inflators market to introduce a variety of products and provide consumers with a vast selection of offerings.

In addition, leading suppliers of nitrogen tire inflators across the world are touting the effectiveness of their nitrogen generation systems to improve the sales of nitrogen tire inflators across the world. Subsequently, increasing developments in the tire industry and growing sales of passenger cars remain the primary drivers for the growth of the nitrogen tire inflators market.

Growth of the Tire Industry to Influence the Nitrogen Tire Inflators Market

Post the great recession, the automotive industry has witnessed some positive changes with the growing production and sales of automobiles. Increasing demand for personal cars and other types of automobiles is creating ample of opportunities for tire manufacturers for realizing production efficiencies and automotive safety. Capitalizing on the increasing automotive production, tire manufacturers in the world are investing in technologies to improve performance parameters of tires they manufacture. Also, increasing concerns about drivers’ safety are encouraging manufacturers to make improvements in various factors such as traction of tires and wear resistance. Growing automotive demand in Europe is influencing the developments of the Europe tire industry. It accounted for the imports of worth € 10.9 billion and exports of worth € 10.2 billion in 2016.

Increasing trends of maintaining fuel efficiency of automobiles are leading the focus of consumers towards the efficiency and inflation pressure of tires. Owing to the considerable benefits of nitrogen tire inflation, the nitrogen tire inflators market is expected to witness healthy growth in the upcoming years. Also, as tire inflated with nitrogen exhibit more traction and help to get more mileage per petrol tank. Attributing to the numerous advantages of inflating automotive tires with nitrogen, the number of dealers in the nitrogen tire inflators market has increased significantly. The consumer expectations of getting an access to nitrogen for inflating tires at any shop signifies the growth of the nitrogen tire inflators market.

Severity of Tire-related Accidents and Removal of Spare Tires Will Encourage the Use of Nitrogen Tire Inflators

According to WHO (the World Health Organization), over 1.25 million people succumb to death as a result of road accidents every year, and over 20-50 million people suffer minor or non-fatal injuries. The WHO predicts that road traffic crashes are likely to become the seventh leading cause of death in the world by the end of 2030. Taking into account the role played by unsafe vehicles in road accidents, various UN regulations and standards are boosting consumers and manufacturers to focus on tire performance parameters such as traction and inflation. Many countries in European Union have established their own tire standards to reduce road accidents caused due to unsafe vehicles. Various tire-related regulations imposed by government organizations are boosting the use of nitrogen inflators, driving the growth of the nitrogen tire inflators market.

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AAA (the American Automobile Association, Inc.) recently stated that it receives over 4 million calls about flat tires each year. More than one-third of the 2015-vehicles do not have a spare tire. Despite the improvements in tire technologies and introduction to the tire pressure monitoring systems, AAA receives the same number of calls related to flat tires. As a result, AAA stated that the use of tire inflator kits may continue to substitute bulky spare tires in automobiles. Also, with the stringent regulations and needs to comply with fuel efficiency standards, automakers are boosting the use of nitrogen tire inflators. It is likely to accelerate the growth of the nitrogen tire inflators market in the upcoming years.

Technological Advancements to Trigger the Trend of Product Innovation in Nitrogen Tire Inflators Market

As various technologies such as RFID (radio-frequency identification) and sensors are shaping the tire industry, the nitrogen tire inflators market is witnessing the adoption of advanced technologies. Innovative trends in the tire industry, such as the emergence of tubeless tires, are making a significant impact on the manufacturing strategies of market players in the nitrogen tire inflators market. MilKit, a leading tire manufacturing company, recently launched a portable tire inflator for tubeless tires, which are cheaper than air compressors. Milwaukee Electric Tool Corporation, another market player in the nitrogen tire inflators market, introduced a cordless tire inflator that can deliver faster, easier, and more accurate inflation. PCL, a leading manufacturer in the nitrogen tire inflators market, introduced a nitrogen generator with built-in inflator using the digital inflation technology. The company states that this generator and inflator unit can automatically inflate around four tires at the same time. The innovative products introduced in the nitrogen tire inflators market are likely to be influenced by the recent advancements in technologies.

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This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

Market Dynamics
Market Size
Market Segments
Demand & Supply Trends
Current Issues and Challenges
Companies and Competitor Landscape
Value Chain
Technology
Regional Segments Analyzed Include

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

Highlights from the Report

Elaborated scenario of the parent market
Transformations in the market dynamics
Detailed segmentation of the target market
Historical, current and forecast market size based on value and volume
Latest industry developments and trends
Competition landscape
Strategies adopted by the market players and product developments made
Potential and niche segments, along with their regional analysis
Unbiased analysis on performance of the market
Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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