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| Agricultural Tires Market |
The global Agricultural Tires
Market has witnessed significant growth in recent years, driven by the
increasing mechanization of agriculture and the growing demand for higher
productivity in the farming sector. Agricultural tires play a crucial role in
enabling efficient farming operations, providing traction, reducing soil
compaction, and improving fuel efficiency. This market research report aims to
provide insights into the global agricultural tires market, including its
definition, segmentation analysis, and key players.
The global Agricultural
Tires Market size was valued at USD 6,328.60
million in 2021 and is anticipated to witness a compound annual growth rate
(CAGR) of 5.63% from 2022 to 2030.
Global Agricultural
Tires Market Definition:
The agricultural tires market refers to the industry involved in the
manufacturing, distribution, and sales of tires specifically designed for
agricultural vehicles and equipment. These tires are engineered to withstand
the unique demands of agricultural applications, including various terrains,
heavy loads, and harsh operating conditions. They are primarily used in
tractors, combines, sprayers, harvesters, and other agricultural machinery.
Global Agricultural
Tires Market Segmentation Analysis:
The global agricultural tires market can be segmented based on tire
type, equipment type, sales channel, and region.
1.
By Tire Type: a. Bias Tires b. Radial Tires
2.
By Equipment Type: a. Tractors b. Harvesters c. Sprayers d. Trailers e.
Others
3.
By Sales Channel: a. Original Equipment Manufacturers (OEMs) b.
Aftermarket
Key Players in the
Global Agricultural Tires Market:
Several prominent players operate in the global agricultural tires
market. These companies strive to develop innovative products, enhance their
distribution networks, and cater to the evolving needs of farmers. Some of the
key players in the market include:
1.
Bridgestone Corporation
2.
Michelin Group
3.
Trelleborg AB
4.
Continental AG
5.
Goodyear Tire and Rubber Company
6.
Titan International Inc.
7.
Pirelli & C. S.p.A.
8.
Balkrishna Industries Limited (BKT)
9.
Mitas Tires Global Inc.
10.
Sumitomo Rubber Industries Ltd.
These companies focus on research and development activities to
introduce advanced tire technologies, such as enhanced tread patterns, improved
wear resistance, and higher load-carrying capacities. Additionally, strategic
partnerships, mergers, and acquisitions are observed among key players to
strengthen their market presence and expand their product portfolios. The
Global Agriculture
and Farm Machinery Market size was valued at US$ 1,120.0 million in
2022 and is anticipated to witness a compound annual growth rate (CAGR) of
4.40% from 2023 to 2030.
Conclusion:
The global agricultural tires market continues to thrive due to the
rising adoption of mechanized farming practices and the need for improved
agricultural productivity. The market offers a wide range of tire types and
equipment applications, catering to the diverse requirements of farmers
worldwide.