call Toll Free (US/Canada): +1 866 658 6826 | call+1 425 320 4776 | call (UK): +44 1865 60 0662 | call (Ind): +91 9096278110 | email info(@)blueweaveconsulting.com
Home | About Us | Career | Services | Blog | Contact Us
Blueweave
Agriculture Tire Market
Inquire Before Buying Request for Sample

Agriculture Tire Market

Home Automotive And Transportation Agriculture Tire Market

Agriculture Tire Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Tire Type (Bias Tires, Radial Tires), By Application (Tractors, Combine Harvesters, Sprayers, Trailers, Loaders, Others), By Distribution Channel (OEM, Replacement/Aftermarket), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)

  • Published Date: January 2022
  • Report ID: BWC21188
  • Available Format: PDF
  • Page: 193

Report Overview

The global agriculture tire market is driven by the expanding agriculture production due to the growing population and increasing demand for food products. Additionally, favorable government policies and subsidies for acquiring agricultural equipment is also strengthening the market.

Global Agriculture Tire Market- Industry Trends & Forecast Report 2027

The global agriculture tire market was worth USD 8.92 billion in 2020 and is further projected to reach USD 13.59 billion by the year 2027, growing at a CAGR of 6.1% during the forecast period. The market is driven by the growth of agricultural production due to the expanding population and growing investments in advanced technologies to increase agricultural yields. In addition, favorable government initiatives, such as offering subsidies and low-interest loans for the purchase of agricultural equipment, are also predicted to drive the global agricultural tire market during the forecast period.

Agriculture Tire Market

 

Source: BlueWeave Consulting

Global Agriculture Tire Market- Overview

Agriculture tires provide motion and support for agricultural machines, such as tractors, trailers, and loaders. Tires for agriculture are made from a variety of materials, such as layered nylon, rayon, polyester, and other materials. The purpose of agricultural tires is to reduce soil compaction, thereby preventing agricultural crops from being damaged by heavy vehicles. A high-flotation feature is also a feature of these tires, which prevents vehicles from sinking in sloppy lands.

Global Agriculture Tire Market Forecast and Trends

Growth Drivers

Expanding Agricultural Sector and Production Yield

With the increasing global population, the need for expanding agricultural yield is also increasing. Therefore, farmers, as well as the government, are significantly investing in newer technologies and equipment to increase their agricultural production. In response to the growing demand for crops and farming products, more land is being prepared for farming, which is expected to increase demand for farming vehicles, such as tractors, harvesters, sprayers, grain carts, etc. This is anticipated to boost the demand for agricultural tires in the forecast period.

Introduction of Smart Agriculture Tires

Smart tires are making waves in the automobile industry and are increasingly penetrating the agricultural sector as well due to the growing popularity of precision farming. The global agriculture tire market offers a variety of sensor and smart tire solutions. Consumers are already aware of tire pressure sensors and advanced tire technologies devised for professional use. Nokian Tures Intuitu, for example, is a concept for agricultural and contracting tires equipped with embedded sensors and a mobile app for accumulating data.

Restraints

High Cost of Agriculture Tires

The high cost of agricultural tires may act as a major restraining factor for the growth of the global agriculture tire market. Tires of this type can cost as low as USD 400 to an average price of USD 1,600 to USD 2,900. The tires of agricultural vehicles generally require replacements every three to six years. However, due to such high prices, the farmers have to be dependent on government subsidies or loans that are extremely complicated to get sanctioned. As a result, they often resort to buying used tires which negatively influences the market growth.

Impact of COVID-19 on the Global Agriculture Tire Market

The growth of the global agriculture tire market was negatively impacted by the sudden outbreak of the COVID-19 pandemic. In several countries, a lockdown imposed to curb the virus spread hampered agriculture activities due to a shortage of workers. The lockdown restrictions also obstructed supply chains for agricultural commodities. Due to this, the demand for agricultural vehicles and tires dropped dramatically, causing huge losses for the market. Additionally, the economic recession in several countries has also contributed to the decreased purchasing power of farmers because of limited or no access to government subsidies and allocations. These factors have affected the demand for agricultural tires, thereby influencing its market growth.

Global Agriculture Tire Market - By Tire Type

Based on tire types, the global agriculture tire market is segmented into bias tires and radial tires. Bias tires account for the largest share in the global agriculture tire market because of their significant demand in Asian countries, such as India and China. Bias tires also have higher flexibility which makes them suitable for rough and uneven terrains, such as in agricultural fields. Additionally, such tires have a thicker sidewall that provides resistance to cuts and punctures. Furthermore, these types of tires are also less expensive compared to their counterpart which fuels their market growth.

Global Agriculture Tire Market - By Application

Based on applications, the global agriculture tire market is segmented into tractors, combine harvesters, sprayers, trailers, loaders, and others. The tractors segment holds the largest market share because of its multipurpose specialty. Tractors are used for a wide range of farming operations, such as spreading fertilizers and seeds, seed drillers, weed control, irrigation and pesticide application, etc. Therefore, the demand for tractors is very prominent in the market, which fuels the demand for agriculture tires in the tractor segment.

Global Agriculture Tire Market - Regional Insights

Geographically, the global agriculture tire market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific dominates the market because of the presence of agricultural-based countries in the region, such as China and India. Approximately 60% of India's population is engaged in the agricultural sector with a contribution of 18% to the country’s GDP. Furthermore, around 23.6% of China's population is dependent on agriculture for their employment. Other Asian countries, such as Japan, Thailand, etc., are also witnessing substantial growth in their agricultural sector, which is anticipated to fuel the demand for agricultural tires in this region during the forecast period.

Regional Insights

Source: BlueWeave Consulting

Global Agriculture Tire Market - Competitive Landscape

The leading players in the global agriculture tire market are Asian Tire Factory Limited, MRL Tyres Limited, Balkrishna Industries Limited, Trelleborg AB, Bridgestone, Superking Manufacturers (Tyre) Pvt. Ltd., Continental AG, YOHT., Michelin, Specialty Tires of America, Inc., Sumitomo Rubber Industries, Ltd., The Carlstar Group, LLC., Titan International, Inc., Trelleborg Wheel Systems Czech Republic a.s., Pirelli & C SpA, Apollo Tyres, Nokian Tyres PLC, JK Tyre & Industries, Hankook Tire & Technology Co., Ltd., and other prominent players.

The market is dominated by global as well as regional companies, such as Sumitomo Rubber Industries Ltd. Apollo Types, JK Tyre & Industries, etc. The market giants consistently strive to offer innovative agriculture tires to gain a competitive edge. Additionally, many regional players specialize in products that suit local agriculture needs, based on the type of soil and farming methods. As a result, they enjoy a significant share of the market. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Recent Developments

  • In April 2021, Michelin, a leading French multinational tire manufacturing company, launched its latest range of agriculture tires called Agribib Row Crop IF (Improved Flexion).
  • In November 2021, Balkrishna Industries Ltd., an Indian multinational tire manufacturing company, announced plans to invest in expanding its manufacturing capacity and establishing the world's largest agricultural radial tire plant in April 2022.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Tire Type, By Application, By Distribution Channel, By Region

Key Players

Asian Tire Factory Limited, MRL Tyres Limited, Balkrishna Industries Limited, Trelleborg AB, Bridgestone, Superking Manufacturers (Tyre) Pvt. Ltd., Continental AG, YOHT., Michelin, Specialty Tires of America, Inc., Sumitomo Rubber Industries, Ltd., The Carlstar Group, LLC., Titan International, Inc., Trelleborg Wheel Systems Czech Republic a.s., Pirelli & C SpA, Apollo Tyres, Nokian Tyres PLC, JK Tyre & Industries, Hankook Tire & Technology Co., Ltd., and other prominent players.

 

By Tire Type

  • Bias Tires
  • Radial Tires

By Application

  • Tractors
  • Combine Harvesters
  • Sprayers
  • Trailers
  • Loaders
  • Others

By Distribution Channel

  • OEM
  • Replacement/Aftermarket

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Key Market Segments
  2. Research Methodology
    1. Qualitative Research
    2. Methodology
    3. Regional Split of Primary & Secondary Research
    4. Secondary Research
    5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
    6. Market Size Estimation
    7. Assumptions for the Study
    8. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Industry Insight and Growth Strategy
    1. Value Chain Analysis
    2. DROC Analysis
      1. Market Drivers
        1. Expanding Agricultural Sector and Production Yield
        2. Introduction of Smart Tires into The Farms
      2. Market Restraints
        1. High Cost of Agriculture Tires
      3. Market Challenges
        1. Negative Impact of the COVID-19 Pandemic
      4. Market Opportunity
        1. Favorable Government Initiatives and Subsidies
        2. Increasing OEM Investment Towards Expanding Tire Production Capacity
    3. Recent Developments
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
  5. Global Agriculture Tire Market Overview
    1. Market Size & Forecast by Value, 2017-2027
    2. Market Size and Forecast, By Segment
      1. By Tire Type
        1. Bias Tires
        2. Radial Tires
      2. By Application
        1. Tractors
        2. Combine Harvesters
        3. Sprayers
        4. Trailers
        5. Loaders
        6. Others
      3. By Distribution Channel
        1. OEM
        2. Replacement/Aftermarket
      4. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle East & Africa
  6. North America Agriculture Tire Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Tire Type
      2. By Application
      3. By Distribution Channel
      4. By Country
        1. U.S.
        2. Canada
  7. Europe Agriculture Tire Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Tire Type
      2. By Application
      3. By Distribution Channel
      4. By Country
        1. Germany
        2. U.K.
        3. Russia
        4. France
        5. Italy
        6. Spain
        7. Rest of Europe
  8. APAC Agriculture Tire Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Tire Type
      2. By Application
      3. By Distribution Channel
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of APAC
  9. LATAM Agriculture Tire Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Tire Type
      2. By Application
      3. By Distribution Channel
      4. By Country
        1. Mexico
        2. Brazil
        3. Rest of LATAM
  10. MEA Agriculture Tire Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
    3. By Tire Type
    4. By Application
    5. By Distribution Channel
    6. By Country
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
  12. Impact of COVID-19 on Global Agriculture Tire Market
  13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Asian Tire Factory Limited
    2. MRL Tyres Limited
    3. Balkrishna Industries Limited
    4. Trelleborg AB
    5. Bridgestone
    6. Superking Manufacturers (Tyre) Pvt. Ltd.
    7. Continental AG
    8. YOHT.
    9. Michelin
    10. Specialty Tires of America, Inc.
    11. Sumitomo Rubber Industries, Ltd.
    12. The Carlstar Group, LLC.
    13. Titan International, Inc.
    14. Trelleborg Wheel Systems Czech Republic a.s.
    15. Pirelli & C SpA
    16. Apollo Tyres
    17. Nokian Tyres PLC
    18. JK Tyre & Industries
    19. Hankook Tire & Technology Co.,Ltd.
    20. Other Prominent Players
  14. Key Strategic Recommendations

 

List of Figures

 

 

Figure 1: Global Agriculture Tire Market Segmentation

 

Figure 2: Global Agriculture Tire Market Value Chain Analysis,

 

Figure 3: Company Market Share Analysis, 2020

 

Figure 4: Global Agriculture Tire Market Size, By Value (USD Billion), 2020-2027

 

Figure 5: Global Agriculture Tire Market Share (%), By Tire Type, By Value, 2020-2027

 

Figure 6: Global Agriculture Tire Market Share (%), By Application, By Value, 2020-2027

 

Figure 7: Global Agriculture Tire Market Share (%), By Distribution Channel, By Value, 2020-2027

 

Figure 8: Global Agriculture Tire Market Share (%), By Region, By Value, 2020-2027

 

Figure 9: North America Agriculture Tire Market Size, By Value (USD Billion), 2020-2027

 

Figure 10: North America Agriculture Tire Market Share (%), By Tire Type, By Value, 2020-2027

 

Figure 11: North America Agriculture Tire Market Share (%), By Application, By Value, 2020-2027

 

Figure 12: North America Agriculture Tire Market Share (%), By Distribution Channel, By Value, 2020-2027

 

Figure 13: North America Agriculture Tire Market Share (%), By Country, By Value, 2020-2027

 

Figure 14: Europe Agriculture Tire Market Size, By Value (USD Billion), 2020-2027

 

Figure 15: Europe Agriculture Tire Market Share (%), By Tire Type, By Value, 2020-2027

 

Figure 16: Europe Agriculture Tire Market Share (%), By Application, By Value, 2020-2027

 

Figure 17: Europe Agriculture Tire Market Share (%), By Distribution Channel, By Value, 2020-2027

 

Figure 18: Europe Agriculture Tire Market Share (%), By Country, By Value, 2020-2027

 

Figure 19: the Asia-Pacific Agriculture Tire Market Size, By Value (USD Billion), 2020-2027

 

Figure 20: the Asia-Pacific Agriculture Tire Market Share (%), By Tire Type, By Value, 2020-2027

 

Figure 21: the Asia-Pacific Agriculture Tire Market Share (%), By Application, By Value, 2020-2027

 

Figure 22: the Asia-Pacific Agriculture Tire Market Share (%), By Distribution Channel, By Value, 2020-2027

 

Figure 23: the Asia-Pacific Agriculture Tire Market Share (%), By Country, By Value, 2020-2027

 

Figure 24: Latin America Agriculture Tire Market Size, By Value (USD Billion), 2020-2027

 

Figure 25: Latin America Agriculture Tire Market Share (%), By Tire Type, By Value, 2020-2027

 

Figure 26: Latin America Agriculture Tire Market Share (%), By Application, By Value, 2020-2027

 

Figure 27: Latin America Agriculture Tire Market Share (%), By Distribution Channel, By Value, 2020-2027

 

Figure 28: Latin America Agriculture Tire Market Share (%), By Country, By Value, 2020-2027

 

Figure 29: Middle East & Africa Agriculture Tire Market Size, By Value (USD Billion), 2020-2027

 

Figure 30: Middle East & Africa Agriculture Tire Market Share (%), By Tire Type, By Value, 2020-2027

 

Figure 31: Middle East & Africa Agriculture Tire Market Share (%), By Application, By Value, 2020-2027

 

Figure 32: Middle East & Africa Agriculture Tire Market Share (%), By Distribution Channel, By Value, 2020-2027

 

Figure 33: Middle East & Africa Agriculture Tire Market Share (%), By Region, By Value, 2020-2027

 

 

 

List of Tables

 

 

Table 1: Global Agriculture Tire Market Size, By Tire Type, By Value, 2020-2027

 

Table 2: Global Agriculture Tire Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 3: Global Agriculture Tire Market Size, By Distribution Channel, By Value (USD Billion), 2020-2027

 

Table 4: Global Agriculture Tire Market Size, By Region, By Value (USD Billion), 2020-2027

 

Table 5: North America Agriculture Tire Market Size, By Tire Type, By Value (USD Billion), 2020-2027

 

Table 6: North America Agriculture Tire Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 7: North America Agriculture Tire Market Size, By Distribution Channel, By Value (USD Billion), 2020-2027

 

Table 8: North America Agriculture Tire Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 9: Europe Agriculture Tire Market Size, By Tire Type, By Value (USD Billion), 2020-2027

 

Table 10: Europe Agriculture Tire Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 11: Europe Agriculture Tire Market Size, By Distribution Channel, By Value (USD Billion), 2020-2027

 

Table 12: Europe Agriculture Tire Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 13: the Asia-Pacific Agriculture Tire Market Size, By Tire Type, By Value (USD Billion), 2020-2027

 

Table 14: the Asia-Pacific Agriculture Tire Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 15: the Asia-Pacific Agriculture Tire Market Size, By Distribution Channel, By Value (USD Billion), 2020-2027

 

Table 16: the Asia-Pacific Agriculture Tire Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 17: Latin America Agriculture Tire Market Size, By Tire Type, By Value (USD Billion), 2020-2027

 

Table 18: Latin America Agriculture Tire Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 19: Latin America Agriculture Tire Market Size, By Distribution Channel, By Value (USD Billion), 2020-2027

 

Table 20: Latin America Agriculture Tire Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 21: The Middle-East & Africa Agriculture Tire Market Size, By Tire Type, By Value (USD Billion), 2020-2027

 

Table 22: The Middle-East & Africa Agriculture Tire Market Size, By Application, By Value (USD Billion), 2020-2027

 

Table 23: The Middle-East & Africa Agriculture Tire Market Size, By Distribution Channel, By Value (USD Billion), 2020-2027

 

Table 24: The Middle-East & Africa Agriculture Tire Market Size, By Country, By Value (USD Billion), 2020-2027

 

Table 25: Asian Tire Factory Limited Financial Analysis

Table 26: Asian Tire Factory Limited Business Overview

Table 27: MRL Tyres Limited Financial Analysis

Table 28: MRL Tyres Limited Business Overview

Table 29: Balkrishna Industries Limited Corporation Financial Analysis

Table 30: Balkrishna Industries Limited Corporation Business Overview

Table 31: Trelleborg AB Financial Analysis

Table 32: Trelleborg AB Business Overview

Table 33: Bridgestone Financial Analysis

Table 34: Bridgestone Business Overview

Table 35: Superking Manufacturers (Tyre) Pvt. Ltd. Financial Analysis

Table 36: Superking Manufacturers (Tyre) Pvt. Ltd. Business Overview

Table 37: Continental AG Financial Analysis

Table 38: Continental AG Business Overview

Table 39: YOHT. Financial Analysis

Table 40: YOHT. Business Overview

Table 41: Michelin Financial Analysis

Table 42: Michelin Business Overview

Table 43: Specialty Tires of America, Inc. Financial Analysis

Table 44: Specialty Tires of America, Inc. Business Overview

Table 45: Sumitomo Rubber Industries, Ltd. Financial Analysis

Table 46: Sumitomo Rubber Industries, Ltd. Financial Analysis

Table 47: The Carlstar Group, LLC. Financial Analysis

Table 48: The Carlstar Group, LLC. Business Overview

Table 49: Titan International, Inc. Financial Analysis

Table 50: Titan International, Inc. Business Overview

Table 51: Trelleborg Wheel Systems Czech Republic a.s. Financial Analysis

Table 52: Trelleborg Wheel Systems Czech Republic a.s. Business Overview

Table 53: Pirelli & C SpA Financial Analysis

Table 54: Pirelli & C SpA Business Overview

Table 55: Apollo Tyres Financial Analysis

Table 56: Apollo Tyres Business Overview

Table 57: Nokian Tyres PLC Financial Analysis

Table 58: Nokian Tyres PLC Business Overview

Table 59: JK Tyre & Industries Financial Analysis

Table 60: JK Tyre & Industries Business Overview

Table 61: Hankook Tire & Technology Co.,Ltd. Financial Analysis

Table 62: Hankook Tire & Technology Co.,Ltd. Business Overview

 

Market Segmentation

By Tire Type

  • Bias Tires
  • Radial Tires

By Application

  • Tractors
  • Combine Harvesters
  • Sprayers
  • Trailers
  • Loaders
  • Others

By Distribution Channel

  • OEM
  • Replacement/Aftermarket

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
No data available

To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your exact research needs.

This website is secure and your personal details are safe.

Frequently Asked Questions (FAQs):

Ans: The global agriculture tire market reached USD 8.92 billion in 2020.
Ans: The major factors driving the growth of the global agriculture tire market are the expanding agricultural sector and production yield. Additionally, the introduction of smart tires is another factor favoring the market’s growth.
Ans: The key players in the global agriculture tire market are: Asian Tire Factory Limited, MRL Tyres Limited, Balkrishna Industries Limited, Trelleborg AB, Bridgestone, Superking Manufacturers (Tyre) Pvt. Ltd., Continental AG, YOHT., Michelin, Specialty Tires of America, Inc., Sumitomo Rubber Industries, Ltd., The Carlstar Group, LLC., Titan International, Inc., Trelleborg Wheel Systems Czech Republic a.s., Pirelli & C SpA, Apollo Tyres, Nokian Tyres PLC, JK Tyre & Industries, Hankook Tire & Technology Co., Ltd., and other prominent players.
Ans: The bias tire segment accounted for the largest share in the global agriculture tire market.
Ans: Asia-Pacific has the largest share in the global agriculture tire market.