Mobility-as-a-Service (MaaS) Market 2024-2032 Key Futuristic Top Trends and Competitive Landscape

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Global Agriculture tires Market Growth 2023 Analysis of Rising Business Opportunities with Prominent Investment, Forecast to 2032

Market overview

According to MRFR analysis, the global Agriculture tires Market is expected to register a CAGR of ~ 5.51% from 2022 to 2030 and hold a value of over USD 10.4078 billion by 2030.

Agricultural tyres are specialised tyres used on agricultural equipment like tractors, harvesters, trailers, and other similar vehicles. These tyres enhance the performance, comfort, and fuel efficiency of agricultural vehicles. As their name suggests, agriculture tyres are designed for use in farming or other related activities. These tyres have a 45-degree angle in the diagonal thread. The tractor can move quickly through mud and soil thanks to the traction the treads provide. These are available in a variety of sizes and diameters and are appropriate for a variety of machinery, including tractors, trailers, combine harvesters, sprayers, and skid steer loaders. These are made of premium rubber for long life and better performance on and off the pitch. They have substantial ribs and voids for traction in soft terrain.

Key Companies

  • Bridgestone Corp.
  • Continental AG
  • Balakrishna Industries Limited
  • Titan International Inc.
  • Trelleborg AB
  • Michelin
  • Nokian Tyres PLC
  • Pirelli & C SpA
  • Alliance Tire Group
  • and Apollo Tyres
  • Brunswick Corporation

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.

Agricultural Tires Market Segmentation

Agricultural Tires Type Outlook

  • Bias Tires
  • Radial Tires

Agricultural Tires Type Outlook

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

Agricultural Tires Sales Channel Outlook

  • OEM
  • Aftermarket

Regional analysis:

Asia-Pacific now holds the greatest market share and is anticipated to rule the industry over the next years. The demand for tires in the Asia-Pacific region is being fueled by rising food consumption, rising agricultural activities, and rising urbanization rates in countries such as China, India, and others. The need for agricultural tires is also being driven by the expanding trend of agricultural mechanization in the Asia-Pacific region. By enabling agriculture to cover a lot of ground quickly, engine-powered agricultural equipment has significantly enhanced efficiency in the sector.

The agricultural tire industry in North America is expanding to new heights as a result of the rising demand for agricultural products. In North America, agricultural mechanization is growing quickly. The US and Canadian agriculture industries are experiencing a workforce shortage, which is contributing to this issue. More tractors and combine harvesters are utilized as a result of agricultural mechanization, increasing agricultural productivity.

Industry news:

  • In September 2023,hercules tire & rubber company will celebrate its 70th anniversary. The company has reached its milestone with its strong efforts in the industry.
  • In September 2023, city and macs will form strategic partnership. These 2 partners offer machine learning and natural language processing technology for better advancement.

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