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Written by [email protected] » Updated on: November 01st, 2024
According to TechSci Research report, “Global Agriculture Tire Market– By Region, Competition, Forecast & Opportunities, 2028,” the Global Agriculture Tire Marketwas valued at USD 7 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.78% through 2028. The worldwide market for agricultural tires is being driven by several key factors influencing its expansion and progress.
The shift towards the mechanization of agricultural practices, characterized by the increasing utilization of modern machinery, has created a demand for specialized tires that offer long-lasting durability and traction on multiple surfaces.
Furthermore, the expanding global population's demand for more food has led to an upsurge in agricultural activities, necessitating dependable tires that promote greater productivity. The market growth is further fueled by technological innovations in tire design, such as advanced tread patterns and intelligent tire technology, which provide increased efficiency and superior performance in contemporary farming operations.
The global agriculture tire market is a critical component in the mechanization of farming, a process that has seen a dramatic rise in the 21st century. These specialized tires, equipped for tractors, trailers, and other agriculture machinery, play a pivotal role in enhancing productivity and efficiency in the farming sector. The market dynamics of the agriculture tire industry are shaped by several factors including manufacturing technology, advancement in tire materials, and the demand-supply scenario in the global agriculture sector.
The market has been experiencing remarkable growth, fueled by the continuous rise in the global population. As the demand for food production intensifies, the need for mechanization in farming becomes increasingly crucial. By embracing mechanized techniques, such as using advanced agriculture tires, farmers can maximize their output and effectively meet the ever-growing food demand. This trend in the agricultural sector is a testament to the significant role played by agriculture tires in driving sustainable food production and ensuring food security for a rapidly expanding population.
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Furthermore, technological advancements in agriculture tire manufacturing, such as the development of radial tires and tubeless tires, have improved traction, fuel efficiency, and load-carrying capacity of farming equipment. These advancements have also resulted in longer tire lifespans, contributing to the growth of the market.
However, the global agriculture tire market is not without its fair share of challenges. One of the major obstacles is the high costs associated with advanced tires, which can pose a significant barrier to market expansion. This is especially true in developing regions, where farmers often face budget constraints and may find it difficult to invest in these high-quality tires that can enhance their productivity and efficiency in the field. Despite these challenges, the demand for improved agricultural equipment and technologies continues to rise, creating opportunities for tire manufacturers to develop innovative solutions that are not only cost-effective but also address the specific needs of farmers worldwide.
The market is divided into two main segments: radial tires and bias tires. Among these, radial tires are expected to dominate due to their superior performance and efficiency. With their flexible sidewalls and uniform pressure distribution, radial tires offer enhanced traction and fuel efficiency, making them highly desirable for modern, high-power tractors. This preference is attributed to the ability of radial tires to optimize the overall performance and longevity of these tractors, providing a smoother and more comfortable ride while reducing the environmental impact. As a result, radial tires have become the preferred choice for farmers and agricultural professionals seeking to maximize productivity and minimize operational costs.
Geographically, the market has traditionally been dominated by North America and Europe, primarily due to the high level of mechanization in agriculture in these regions. However, the market in the Asia-Pacific region is poised to witness significant growth in the coming years. This growth can be attributed to the accelerating trend of mechanization in agriculture, particularly in countries like India and China. These nations, with their large agricultural sectors and increasing adoption of advanced farming techniques, are expected to contribute substantially to the expansion of the market in the Asia-Pacific region.
The global agriculture tire market is characterized by the presence of several major players such as Michelin, Bridgestone, Titan International, Trelleborg, and Continental. These companies engage in continuous research & development activities to innovate and introduce technologically advanced agriculture tires to stay competitive in the market.
Looking ahead, the global agriculture tire market is set to witness a steady growth rate over the forecast period. The continued push for agricultural mechanization, coupled with the advent of advanced and sustainable tire technology, is likely to fuel this market growth.
The Global Agriculture Tire Market is analyzed based on vehicle type, tire type, demand category, and by region. Based on the vehicle type the market is divided into Tractors, Trailers, Combine Harvesters & Others. Based on the tire type, the market is divided into bias and radial. Based on the demand category, the market is segmented into OEM and aftermarket.
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The global agricultural tire market is influenced by various factors such as mechanization, rising food demand, and technological advancements. There is a growing need for specialized tires that offer durability, traction, and advanced features to cater to modern farming practices. These tires play a crucial role in improving productivity and performance in agricultural activities. Therefore, it can be said that the global Agriculture Tire market is going to witness robust growth in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Agriculture Tire Market Segmented By Vehicle Type (Tractors, Trailers, Combine Harvesters & Others), By Tire Type (Bias, Radial), By Demand Category (OEM Vs. Replacement), By Regional, Competition Forecast & Opportunities, 2018–2028,” has evaluated the future growth potential of Agriculture Tire market globally and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Agriculture Tire Market.
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1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2.1. Objective of theStudy
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
5.1. Market Size & Forecast
5.1.1. By Volume & Value
5.2. Market Share & Forecast
5.2.1. By Vehicle Type Market Share Analysis (Tractors, Trailers, Combine Harvesters & Others)
5.2.2. By Tire Type Market Share Analysis (Bias, & Radial)
5.2.3. By Demand Category Market Share Analysis (OEM & Aftermarket)
5.2.4. By Regional Market Share Analysis
5.2.4.1. Asia-Pacific Market Share Analysis
5.2.4.2. Europe & CIS Market Share Analysis
5.2.4.3. North America Market Share Analysis
5.2.4.4. South America Market Share Analysis
5.2.4.5. Middle East & Africa Market Share Analysis
5.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)
5.3. Global Agriculture Tire Market Mapping & Opportunity Assessment
5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
5.3.2. By Tire Type Market Mapping & Opportunity Assessment
5.3.3. By Demand Category Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
6.1. Market Size & Forecast
6.1.1. By Volume & Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis
6.2.2. By Tire Type Market Share Analysis
6.2.3. By Demand Category Market Share Analysis
6.2.4. By Country Market Share Analysis
6.2.4.1. China Market Share Analysis
6.2.4.2. India Market Share Analysis
6.2.4.3. Japan Market Share Analysis
6.2.4.4. Indonesia Market Share Analysis
6.2.4.5. Thailand Market Share Analysis
6.2.4.6. South Korea Market Share Analysis
6.2.4.7. Australia Market Share Analysis
6.2.4.8. Rest of Asia-Pacific Market Share Analysis
6.3. Asia-Pacific: Country Analysis
6.3.1. China Agriculture Tire Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Volume & Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Vehicle Type Market Share Analysis
6.3.1.2.2. By Tire Type Market Share Analysis
6.3.1.2.3. By Demand Category Market Share Analysis
6.3.2. India Agriculture Tire Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Volume & Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Vehicle Type Market Share Analysis
6.3.2.2.2. By Tire Type Market Share Analysis
6.3.2.2.3. By Demand Category Market Share Analysis
6.3.3. Japan Agriculture Tire Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Volume & Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Vehicle Type Market Share Analysis
6.3.3.2.2. By Tire Type Market Share Analysis
6.3.3.2.3. By Demand Category Market Share Analysis
6.3.4. Indonesia Agriculture Tire Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Volume & Value
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By Vehicle Type Market Share Analysis
6.3.4.2.2. By Tire Type Market Share Analysis
6.3.4.2.3. By Demand Category Market Share Analysis
6.3.5. Thailand Agriculture Tire Market Outlook
6.3.5.1. Market Size & Forecast
6.3.5.1.1. By Volume & Value
6.3.5.2. Market Share & Forecast
6.3.5.2.1. By Vehicle Type Market Share Analysis
6.3.5.2.2. By Tire Type Market Share Analysis
6.3.5.2.3. By Demand Category Market Share Analysis
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