Thailand Central Tire Inflation System Market Trends, Business Overview, Industry Growth and Forecast to 2022-2028

The Thailand central tire inflation system market is anticipated to grow at a considerable CAGR 5% during the forecast period (2022-2028). A central tire inflation system is a system integrated into motor vehicles that provide control over tire air pressure that has the ability to inflate or deflate tires while driving in order to get the improved performance of the motor vehicle. The major factor attributing to the growth of the Thailand central tire inflation system market includes the increasing production and sales of motor vehicles in Thailand. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 1.6 million motor vehicles were produced in Thailand in 2021. Among these, around 1.09 million commercial vehicles including light commercial vehicles and heavy commercial vehicles were manufactured and around 5,94,690 passenger cars were produced in 2021. Additionally, according to the Global Sales Statistics report published by the OICA, around 7,48,580 motor vehicles were sold in Thailand in 2021. Among these, around 3,12,200 passenger cars were sold, and 4,36,380 commercial vehicles were sold in 2021. Thus, increasing the application of the central tire inflation system in motor vehicles.

The application of the central tire inflation system is also increasing due to the increasing installation in military vehicles due to the increasing military fleet of the Royal Thai Army. According to an article published by the IndiaTimes in August 2020, the Royal Thai Army announced the purchase of around 600 LPTA military trucks from Tata Motors India. Furthermore, the application of central tire inflation systems is also increasing due to several benefits offered by central tire inflation systems. These benefits include immediate adjustment of tire air pressure, time-saving, reduced fuel consumption, reduction in tire wear & tear, and an increase in comfort & safety. Thus, contributing to the growth of Thailand's central tire inflation system.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-

• In February 2022, Tesla Inc., an automotive manufacturer obtained a patent for the Automatic Tire Inflation System (ATIS) for installation in upcoming semi-electric trucks by Tesla. The ATIS will provide real-time adjustment of tire air pressure.
• In September 2021, John Deere started offering a fully integrated tire air pressure control system for its existing 8R Series tractors. This will benefit the operator to continuously monitor tire pressure, inflating and deflating tires as per requirement.

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028

• Segment Covered-
o By Type
o By Application

• Competitive Landscape- Dana Ltd., Hendrickson Holdings LLC, Nexter plc, EnPro Industries Inc., and Aperia Technologies Inc., among others.

Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

A full report of The Thailand Central Tire Inflation System Market is available at:
https://orionmarketreports.com/the-thailand-central-tire-inflation-system-market/110486/

The Thailand Central Tire Inflation System Market Report by Segment

By Type
• Military Grade
• Civil Type

By Application
• Passenger Cars
• Commercial Vehicles
• Military Vehicles

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