Agricultural tire market: By Sales Channel (OEM and Replacement), by Application (Tractors, Harvesters, Sprayers and Others), by Product Type (Radial and Bias) and by Region – Global industry sizing, growth, trend, opportunity and forecast (2020 –2025)
The Global Agricultural Tires Market report covers an in-depth analysis of market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by major market players operating at scale world. It involves an in-depth analysis of factors influencing the global market and market statistics indicating market share/growth analysis by region and segment. The report study will feature one of the most comprehensive analyzes of the market, capturing all aspects of the global Agricultural Tires industry.
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Overview of the global agricultural tire market
The global agricultural tire market size is USD 5.6 billion in 2019 and is expected to register a CAGR of 4.67% during the forecast period 2020-2025. Agricultural tires have superior quality, which improves the performance of agricultural machinery. In addition, increased use of agricultural machinery reduces wastage and increases productivity in agriculture. Such a factor is the major trend in the global agricultural tire industry.
Factors affecting the global agricultural tires market during the forecast period
- The growing world population greatly increases the global demand for food, which increases the need for increased productivity and increases the use of various agricultural machinery. This demand for agricultural machinery and equipment will increase the demand and consumption of the agricultural tires market during the forecast period.
- Emerging economies such as China, India, Mexico, and Brazil are widely adopting machinery to increase their food production capacity and reduce human workload. The global market is also witnessing the increase in demand for heavy duty agricultural machinery which can lift more weight and work efficiently. This is expected to drive the demand for heavy duty agricultural tires in the global market throughout the forecast period.
- Companies are developing advanced techniques for designing agricultural tires that can help machines run better and perform well. In countries such as India, China, Japan, USA, EU and Brazil, there is a strong demand for heavy duty agricultural tires, which is expected to open opportunities for agricultural tire companies.
- However, the manufacturing cost of agricultural tires depends on raw materials such as natural rubber and Brent. Continued market price volatility is hurting global agricultural tire demand and consumption.
Impact of COVID-19 on the global agricultural tire market
The Covid-19 pandemic has disrupted the manufacturing house market to work within safety guidelines, slowing production and most manufacturing houses have been temporarily closed. The global supply chain during the pandemic is disrupted, providing opportunities for local players. Developing countries have also experienced a decline in agricultural tire consumption due to this pandemic.
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Global Agricultural Tires Market: Scope of the Report
The report outlines the Agricultural Tires market study based on sales channel, application, and product type.
Global Agricultural Tires Market, By Sales Channel –
Global Agricultural Tires Market, By Application –
Global Agricultural Tires Market, By Product Type –
Global Agricultural Tire Market: Geographical Outlook
The global agricultural tire market has been segmented into five geographical regions, namely North America, Asia-Pacific, South America, Europe, Middle East and Africa. In 2019, Asia-Pacific held the largest share of the global agricultural tire market, followed by North America and Europe. The European market is the fastest growing market for agricultural tire demand over the forecast period owing to the growth in the rate of mechanization, which is driving the usage of tractors. Additionally, the presence of crucial developed agricultural economies such as Germany, UK, Italy, France, and Turkey is expected to contribute significantly to the region’s growth in the global agricultural tire market in coming years.
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Key Competitors in the Agricultural Tires Market
Manufacturing companies in the global agricultural tires market stand to benefit from forming strategic partnerships and collaborations with global players involved in the agricultural tires industry. Major agricultural tire manufacturers in the global market include
- Titan International Inc.
- BKT tires
- Apollo Tires Ltd.
- Arctic investment
- Armored tires
- Trelleborg wheel system
- JK Tire & Industry Ltd
- Happy new year
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The Global Agricultural Tires Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes the entries.
Regional Analysis of Global Agricultural Tires Market Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
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Agricultural tire market: target audience
- Agricultural tire manufacturers
- Tire manufacturers
- Automotive OEMs
- Farm Equipment Manufacturers
- Associations, associations, journals and forums
- Government agencies include regulators and policy makers
- Research and consulting companies