Agricultural Tires Market

As the world's population continues to rise, the demand for agricultural products increases. This demand is also being driven by increasing foreign exports and higher standard of living. Farm mechanization is also increasing in the North American region, which is a good thing for the farmers and consumers alike. This trend is improving the agricultural yield and productivity while reducing the labor cost. Hence, the demand for agricultural tires is on the rise.

A common agricultural tire is the radial type. This type of tire is designed to carry a heavy load while also giving the farmer comfort. It also gives the farmer better mileage. It also creates a deep lug overlap, which helps reduce road vibration. Moreover, radial tires can improve the transmission of engine power. This makes them ideal for agricultural equipment. They also offer superior road handling. The radial design is also quieter, making them a good choice for farmers.

Market Dynamics:

Increasing innovations in technology, rise in demand for food security along with the growing populations around the world, and rising mechanization in agriculture are the factors expected to propel growth of the global agricultural tires market over the forecast period. For instance, in April 2021, Michelin announced the launch of its Agribib Row Crop IF agriculture tires, designed especially for trailed and self-propelled sprayers offering enhanced traction, higher load capacity and reduction in soil contraction.

However, factors such as environmental impact and fluctuating commodity costs are likely to obstruct growth of the global agricultural tires market during the forecast period.

Key features of the study:

• This report provides in-depth analysis of the global agricultural tires market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global agricultural tires market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Apollo Tyres, Bridgestone Corporation (Firestone), Alliance Tire Group, Continental AG, Pirelli & C SpA, Balakrishna Industries Limited, Nokian Tyres PLC, Titan International Inc. (Goodyear Tires), Michelin , and Trelleborg Wheel Systems (Mitas).
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global agricultural tires market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global agricultural tires market

Detailed Segmentation:

• Global Agricultural Tires Market, By Application Type:
• • Tractors
  • Combine Harvester
  • Sprayers
  • Trailers
  • Loaders
  • Other Application Types
• Global Agricultural Tires Market, By Sales Channel Type:
• • OEM
  • Replacement/Aftermarket
• Global Agricultural Tires Market, By Tire Type:
• • Bias Tires
  • Radial Tires
• Global Agricultural Tires Market, By Geography:
• • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Bridgestone Corporation (Firestone)
  • Continental AG
  • Balakrishna Industries Limited
  • Titan International Inc. (Goodyear Tires)
  • Trelleborg Wheel Systems (Mitas)
  • Michelin
  • Nokian Tyres PLC
  • Pirelli & C SpA
  • Alliance Tire Group
  • Apollo Tyres