Agriculture Tire Market Overview

Maximize Market Research, a Agriculture Tire business research firm has published a report on the “Agriculture Tire Market”. Which provides Industry Analysis (business insights, demand analysis, pricing analysis, and competitive landscape).

Estimated Revenue Growth:

Agriculture Tire Market was valued at US$ 8.34 Bn. in 2022 and expected to grow at a CAGR of 5.51% during the forecast period 2023-2029, thanks to the growing trend of agricultural vehicle use, which has boosted demand for agriculture tires.

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Agriculture Tire Market Report Scope and Research Methodology

Maximize Market Research, a leading business research firm, presents a comprehensive analysis of the Agriculture Tire Market. This report delves into industry dynamics, demand patterns, pricing structures, and competitive landscapes, offering invaluable insights for stakeholders across various sectors.

The assessment of the Agriculture Tire Market employs a meticulous approach, combining primary and secondary research methodologies. Primary research involves direct engagement with industry experts, suppliers, producers, and consumers, while secondary research draws from trusted sources such as market reports, industry publications, and government data. Historical trends, competitor analysis, and data modeling techniques further enrich the research process, ensuring accurate market predictions and growth evaluations.

Dynamics of the Agriculture Tire Market

Growing food demand, mechanized agriculture, tire manufacturing innovation, young interest in agriculture rising, government support for farmers, etc. are some of the factors driving the agriculture tire market. The UN estimates that by 2050, there will be 9.7 billion people on the planet, which will lead to a massive need for agricultural tires due to an increase in the manufacture of agricultural vehicles. An increase in the usage of machinery for agricultural tasks including harvesting, planting, and site preparation is driving up demand for agricultural tires. In an effort to support farmers, the Indian government launched the "Sub Mission on Agricultural Mechanization" (SMAM) in 2014.

Agriculture Tire Market Segmentation

by Tire Type

Radial tire
Bias tire

Based on Tire Type Segmentation: The agricultural tire market is divided into two segments: bias and radial tires. Of these, bias tires account for the majority of the market. A bias tire that is more load-bearing than a radial tire is built upon a foundation of layers of cloth arranged diagonally. The countries with a higher population, such as China and India, are the highest consumers of agricultural equipment, so boosting the agricultural tire market. These countries' load-bearing capacities are equipped in agricultural vehicles such as tractors, trailers, sprayers, manual seeders, fruit pickers, etc. By 2027, it is anticipated that bias tire production would have reached 2900 million worldwide.

by Application

Tractor
Harvestor
Loader

Tractor, harvester, and loader are the applications that make up the application section of the agriculture tire market. In 2020, 15.6 lakh tractors will be produced worldwide, with 2.8 lakh harvesters and 1.8 lakh loaders coming in second and third, respectively. With 8.9 lakh tractors produced in 2020, India will be the world's largest tractor producer, accounting for 26% of the market. Population growth, the younger generation's interest in agriculture, government subsidies, and the convenience of farming activities itself are drawing agricultural equipment manufacturers from all over the world. so nations with large populations have a greater need for agricultural tires.

by Sales Channel

After market
OEM

The agriculture tire market is divided into aftermarket and OEM segments depending on sales channel type. Because they are inexpensive, relieve farmers of some of their expenses, and come in a wide variety of brand-based possibilities, aftermarket tires are highly sought after and can be easily obtained both online and offline. About 56% of the market is made up of aftermarket tires. Farmers are having trouble making purchases when their warranties expire since OEMs are more expensive.

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Agriculture Tire Market Key Players

1. Bridgestone
2. Alliance Tire Companys
3. Birla Tires
4. Titan Tire Corporation
5. Belshina
6. Appolo Tires Ltd
7. Cooper Tires
8. Nokian Tires Group
9. CEAT
10.Triangle Group
11.Nokian tires plc
12.Giti Tires
13.Kumho Tires
14.Hankook tire
15.Fate

Table of content for the Agriculture Tire  Market includes: 

Part 01: Executive Summary

Part 02: Scope of the Agriculture Tire Market Report

Part 03: Agriculture Tire Market Landscape

Part 04: Agriculture Tire Market Sizing

Part 05: Agriculture Tire Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Agriculture Tire Market Regional Insights

The market report covers North America, Europe, Asia Pacific, South America, and the Middle East&Africa comprehensively. It provides information on the market trends in these areas, enabling stakeholders to grasp the factors influencing the Agriculture Tire industry environment. In addition, the report provides a thorough examination of the market size and market share in the industry, presenting valuable information and statistics for making well-informed decisions. Analysis assists businesses and investors in evaluating the competitiveness of the market and recognizing potential areas for growth.

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Key questions answered in the Agriculture Tire Market are:

• What growth strategies are the players considering to increase their presence in Agriculture Tire ?
• What are the upcoming industry applications and trends for the Agriculture Tire Market?
• What segments are covered in the Agriculture Tire Market?
• Who are the key players in the Agriculture Tire market?
• What is Agriculture Tire ?
• What segments are covered in the Agriculture Tire Market?
• Who are the leading companies and what are their portfolios in Agriculture Tire Market?
• What was the Agriculture Tire market size in 2023?

Key Offerings:

• Market Size, Share, Size & Forecast by different segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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