Tyre Inflator Market Summary
According to the new market research report “Global Tyre Inflator Market Report 2023-2029”, published by QYResearch, the global Tyre Inflator market size is projected to grow from USD 624.2 million in 2023 to USD 823.4 million by 2029, at a CAGR of 4.7% during the forecast period.
According to QYResearch Top Players Research Center, the global key manufacturers of Tyre Inflator include RICHTEK, Shanghai HUAHUI Electrical, Ningbo Unit Auto Mobile Accessories, Airtec Corporation, Yamada Corporation, VIAIR Corporation, HORNGROUP, BALANCE, AstroAI Corporation, Kensun, etc. In 2022, the global top 10 players had a share approximately 12.0% in terms of revenue.
In terms of product type, currently Portable is the largest segment, hold a share of 57.8%.
In terms of product application, currently Passenger Car is the largest segment, hold a share of 87.0%.
Market Drivers:
Rising Vehicle Ownership: The increasing number of vehicle owners globally, driven by factors such as urbanization, improved living standards, and easy access to financing, contributes to the demand for tire inflators. Vehicle owners often seek convenient and portable solutions for tire inflation.
Focus on Vehicle Safety: Vehicle safety remains a top priority for consumers and regulatory bodies. Regular tire maintenance, including proper inflation, is crucial for safe driving. This heightened awareness of safety issues propels the demand for tire inflators, which serve as a tool for maintaining optimal tire pressure.
Convenience and Portability: Consumers are increasingly looking for convenient and portable solutions for tire maintenance. Portable tire inflators, especially those powered by batteries or vehicle power outlets, offer users the flexibility to inflate tires anytime and anywhere, contributing to market growth.
Growth of E-Commerce: The rise of e-commerce platforms has made tire inflators more accessible to consumers. Online retailing provides a convenient channel for purchasing tire inflators, offering a wide range of products and enabling consumers to compare features and prices easily.
Restraint:
Market Saturation: The tire inflator market may face saturation in regions where the penetration rate of tire inflators is already high. In such mature markets, further growth may be limited due to a smaller pool of potential customers.
High Competition: The tire inflator market is highly competitive, with numerous manufacturers and suppliers vying for market share. Intense competition can lead to price wars, reducing profit margins for businesses and inhibiting overall market growth.
Price Sensitivity: Many consumers view tire inflators as discretionary purchases, particularly those with limited budgets. Price sensitivity can hinder market growth, especially in regions where consumers prioritize essential expenses over optional automotive accessories.
Limited Awareness: Despite the benefits of tire inflators, some consumers may lack awareness of their importance in maintaining vehicle safety and performance. Limited awareness can slow market growth as manufacturers face challenges in educating potential customers about the value proposition of tire inflators.
About The Authors
Zhao Jinhui - Lead Author
Email: zhaojinhui@qyresearch.com
Jinhui Zhao is a technology & market senior analyst specializing in automotive, transportation, and consumer goods-related fields, including automotive equipment and parts, upstream and downstream automotive industry, consumer appliances, etc.
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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