Global Farm Tire Market, By Product (Radial Tire, Bias Tire, Municipal Tires, Implement Cross Ply Tires, Other Products), Pressure (High Pressure, Low Pressure, Extra Low Pressure), Horsepower (0-80 HP, 81-200 HP), Distribution Channel (Original Equipment's Manufacturers (OEMs), Aftermarket), Application (Harvesters, Tractors, Loaders, Drill, Forestry, Irrigation, Implements, Other Applications), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Farm Tire Market
Farm tire market is expected to reach USD 12,772.04 million by 2028 witnessing market growth at a rate of 11.50% in the forecast period of 2021 to 2028. Data Bridge Market Research report on farm tire market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Farm tires also known as agricultural tires are used in different agriculture vehicles and equipment such as tractors, harvesters, and sowers. A major increase in crop yield was achieved by the use of advanced equipment in agriculture. Therefore, growers and farmers are gradually making use of agricultural vehicles and agricultural machinery.
Increasing number of agricultural activities, rising demand of food, growing awareness among farmers over the adoption of advanced farming techniques over traditional farming, rising demand for agricultural machinery from emerging economies, increasing penetration of farm vehicles in agriculture industry, increasing adoption of advanced technologies by farmers to increase agricultural yield are some of the major as well as vital factors which will likely to augment the growth of the farm tire market in the projected timeframe of 2021-2028. On the other hand, increasing prevalence of favourable trade policies along with rapid urbanization which will further contribute by generating massive opportunities that will lead to the growth of the farm tire market in the above mentioned projected timeframe.
Volatility in the prices of raw material along with government promoting sustainable farming practices to reduce harmful environmental impacts of various agricultural practices which will likely to act as market restraints factor for the growth of the farm tire in the above mentioned projected timeframe. Easy availability of substitutes which will become the biggest and foremost challenge for the growth of the market.
This farm tire market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on farm tire market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Farm Tire Market Scope and Market Size
Farm tire market is segmented on the basis of product, pressure, horsepower, application and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Farm tire market on the basis of product has been segmented as radial tire, bias tire, municipal tires, implement cross ply tires, and other products.
- Based on pressure, the farm tire market has been segmented into high pressure, low pressure, extra and low pressure.
- On the basis of horsepower, the farm tire market has been segmented into 0-80 HP, and 81-200 HP.
- On the basis of application, the farm tire market has been segmented into harvesters, tractors, loaders, drill, forestry, irrigation, implements, and other applications. Tractors have been further segmented into farm tractors, and lawn tractors. Other applications have been further segmented into combines, sprayers, and trailers. Harvesters segment will hold the largest share in the growth of the market due to the introduction of several types of harvesters to suit specific farming needs, such as subsistence and commercial farming.
- Farm tire has also been segmented on the basis of distribution channel into original equipment's manufacturers (OEMs), and aftermarket.
Farm Tire Market Country Level Analysis
Farm tire market is analysed and market size, volume information is provided by country, product, pressure, horsepower, application and distribution channel as referenced above.
The countries covered in the farm tire market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the farm tire market due to the increasing growth of the agriculture industry, along with upgradation in farming equipment in the region while Asia-Pacific region will expect to grow in the forecast period of 2021-2028 due to the prevalence of various tire and tractor manufacturers along with rising growth in agricultural activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Farm Tire Market Share Analysis
Farm tire market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to farm tire market.
The major players covered in the farm tire market report are Balkrishna Industries Limited (BKT).; Bridgestone; Continental AG; MICHELIN.; Sumitomo Rubber Industries, Ltd.; Titan International, Inc.; Trelleborg Wheel Systems Czech Republic a.s.; TBC Corporation.; Apollo Tyres; Hankook Tire & Technology Co.,Ltd.; MRF; JK TYRE & INDUSTRIES LTD; CEAT Ltd.; The Carlstar Group, LLC.; Specialty Tires of America, Inc.; YOHT.; Superking Manufacturers (Tyre) Pvt. Ltd.; Trelleborg AB; Asian Tire Factory Limited; MRL Tyres Limited.; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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