Agricultural Tires Market Size 2022 Industry Research Repot by Dynamics, Opportunity, Sales, Revenue, Production Cost and Forecast to 2030
Research Reports
Mar 29, 2022
Agricultural Tires Market Analysis
Agricultural Tires Market is projected to be worth USD 10.87 billion by 2027, registering a CAGR of 5.41% during the forecast period (2021 – 2027), The market was valued at USD 7.5 billion in 2020.
Agricultural tires are specialty tires that are used for agricultural machinery like tractors, harvesters, trailers, and so on. These tires improve farming vehicles’ fuel economy, performance, and driver comfort.
Agriculture tires, as the name suggests, are intended for use on a farm or in agriculture. The diagonal thread on these tires is angled at 45 degrees. The traction provided by the treads allows the tractor to move quickly through mud and soil. These come in various sizes and diameters and are suitable for a wide range of equipment, including tractors, trailers, combine harvesters, sprayers, and skid steer loaders. These are made of high-quality rubber for long life and better performance on and off the field. They have large ribs and voids for traction in soft terrain. These tires improve fuel efficiency and hillside stability. Some tires have a diamond tread design for minimal soil disruption.
Get a Free Sample Report @ https://www.marketresearchfuture.com/sample_request/10459
One of the primary reasons for the increased need for mechanization in the agricultural sector is the rising food demand. Tires play a vital role in the performance of agricultural machines, and hence the demand for agrarian ties is increasing. Tires, on the other hand, are harmful to the environment because they are not biodegradable. They contribute to landfill waste, despite the fact that the Environmental Protection Agency classifies them as municipal solid waste rather than hazardous waste (EPA). Tires emit toxins, and the oils they contain can contaminate soil and groundwater. Furthermore, solvents or volatile organic compounds (VOC) are used to produce heavy and treads for enhancing the adhesion of the tires, with the process emitting the greatest number of emissions into the atmosphere. The hazardous nature of agricultural tires may restrict the market growth in the near future.
Tractors were previously used for simple tasks such as plowing and tilling. Tractors now perform a variety of tasks such as irrigation, harvesting, and fertilizer spreader, necessitating the use of more specialized tires with larger rim sizes, which are more expensive. Until 2009, the largest agriculture tire had a circumference of 243 inches; however, tire manufacturers are now offering sizes up to 256 inches. The overall increase in tire size has fueled the tire price and, as a result, is boosting the market in terms of revenue.
The agricultural tire market is changing dramatically as a result of digital innovations. For example, in December 2019, Continental AG, a leading German multinational automotive parts manufacturing company, announced the introduction of Agriculture TireTech, an innovative agriculture app that serves as a pressure and load calculator to achieve optimal safety and efficiency when using Continental agricultural tires. Companies in the agriculture tire market hope to expand their portfolio of comprehensive digital services and solutions for their customers by using mobile apps.
Key Players
Key players operating in the global agricultural tires market are Bridgestone Corp., Trelleborg AB, Continental AG, Balakrishna Industries Limited, Titan International, Inc., Michelin, Nokian Tires PLC, Pirelli & C SpA, Alliance Tire Group, and Apollo Tires.
Request For Customization @ https://www.marketresearchfuture.com/ask_for_customize/10459
COVID-19 Impact on the Global Agricultural Tires Market
The global outbreak of a novel coronavirus pandemic is likely to induce a slight slowdown in the industry. Due to labor shortages, manufacturing operations have come to a halt. This has resulted in a major decline in demand from end-use industries.
Agricultural Tires Market Segmentation
The global agricultural tires industry has been segmented by tire type, sales channel, and application.
By tire type, the global agricultural tires market has been segmented into Bias Tires and Radial Tires. The radial tires segment is expected to grow at a significant CAGR in the coming years.
By sales channel, the global agricultural tires market has been segmented into OEM and Aftermarket. The aftermarket segment earned a sizeable share and is predicted to grow at a significant CAGR in the coming years.
By application, the global agricultural tires market has been segmented into tractors, trailers, combine harvesters, sprayers, loaders, and others. The tractors segment earned a sizeable share and is projected to grow at a significant CAGR in the coming years.
Regional Analysis
Based on region, the global agricultural tires industry has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America earned the largest share of the market due to advancements in farming equipment and evolution in the agricultural industry, which is assisting in the growth of modern-day integrated farming activities. Furthermore, the increasing agricultural growth in India and China has made the Asia Pacific the next fastest-growing region. China and India account for a significantly high number of tractors in use worldwide. As a result, they present significant opportunities for manufacturers of agricultural tires.
Speak To Analyst @ https://www.marketresearchfuture.com/ask_for_schedule_call/10459
Related Links –
https://icrowdpt.com/2022/03/24/mercado-de-filtros-automotivos-novas-inovacoes-tendencias-pesquisa-fator-de-participacao-global-e-crescimento-e-previsao-2022-2030/
https://www.icrowdsp.com/2022/03/24/filtros-automotrices-mercado-nuevas-tendencias-de-innovacion-investigacion-participacion-global-y-factor-de-crecimiento-y-pronostico-2022-2030/
http://icrowdnewswire.com/automotive-fuel-delivery-system-market-analysis-by-size-share-key-drivers-growth-opportunities-and-global-trends-2030
https://prwireindia.com/PRDetail/92648/Automotive-Fuel-Delivery-System-Market-Analysis-by-Size-Share-Key-Drivers-Growth-Opportunities-and-Global-Trends-2030
About Market Research Future –
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
Contact Information:
Market Research Future® 99 Hudson Street,5Th Floor New York, New York 10013 United States of America Phone: +1 628 258 0071(US) +44 2035 002 764(UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
Tags:
PR-Wirein, Wire, Research Newswire, English