Agricoltura
Agriculture Tires Market Size to Reach USD 11.6 Billion in 2027, Says Stratview Research
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The global agriculture tires market is segmented based on application type, tire type, end-user type, and, region.
- The market is segmented as tractors, harvesters, and others.
for the market and it held a revenue share of .
The market is segmented as radial tires and bias tires.
in the market, and they held a revenue share of .
Radial tires are compatible with low pressure and provide significantly greater rideability than bias tires. Because of their higher strength and flexibility, radial tires can absorb shocks, collisions, and bumps better than bias tires. Puncture resistance is also improved with radial tires. Thus, radial tires have seen a significant increase in demand as a result of these considerations.
The market is segmented as OE and aftermarket.
in the market, and it held a revenue share of .
It is critical to keep agricultural tires in good condition and to replace them as needed due to wear and tear. Damaged tires cause soil to crumble and compress, lowering the crop yield, thus leading to repair and replacement at frequent intervals, which boosts the aftermarket.
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The report suggests that for agriculture tires during the forecast period.
This growth is majorly attributed to the following –
- Sustainable farming methods are gaining traction in the region, in order to meet the enormous demand for agricultural products.
- OEM expansion and frequent aftermarket demand in the region, which is likely to be bolstered further by favorable international trade policies.
Some of the key drivers listed in the report are given below.
- The rising global population has increased the demand for food products, prompting the agriculture industry to improve productivity, resulting in an increase in the use of various agricultural machines.
- Tractors, harvesters, cotton pickers, and sprayers are the major agricultural machinery that employ agricultural tires.
- Attractive subsidies for agriculture machinery by some governments work as a catalyst.
- Growing adoption of advanced farming technologies and an increased need for heavy-duty tires.
- Currently, the majority of work is done in the fields with agricultural machinery, and the use of low-pressure tires for better operational efficiency reduces the life of off-road tires, necessitating tire replacement on a regular basis.
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Owing to a well-established supply chain and moderate technological requirements, the presence of a large number of players serving the industry, the market is fragmented with major players holding a smaller part of the market.
- Balkrishna Industries Limited (BKT)
- Bridgestone Corporation
- Carlisle Companies Incorporated
- Compagnie Generale Des Etablissements Michelin S.C.A.
- Continental AG
- Goodyear Tire and Rubber Company
- JK Tyre & Industries
- MRF Tyres
- Trelleborg AB
- Yokohama Rubber Co. Ltd.
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