Agricultural Tires Market Size is Expected to reach USD 13.37 billion by 2032, Growing at a CAGR of 5.0% | S&S Insider

Agricultural Tires Market is poised for growth as rising demand for efficient, sustainable farming drives advancement in high-performance agricultural equipment

AUSTIN, TX, UNITED STATES, November 13, 2024 /EINPresswire.com/ --

Agricultural Tires Market

The Agricultural Tires Market was USD 8.62 billion in 2023 and is expected to reach USD 13.37 billion by 2032, growing at a CAGR of 5.0% over the forecast period of 2024-2032.

Agricultural Tires are Essential for Enhanced Traction and Stability in Modern Farming Practices.

Agricultural tires are specifically designed for farm use and play a very important role in improving traction, maneuverability, and stability over muddy and uneven terrain. Agricultural tires feature a 45-degree diagonal tread pattern that enhances traction and allows farming machinery to traverse difficult surfaces with efficiency. Available in various sizes and diameters, agricultural tires serve tractors, combine harvesters, trailers, and skid steer loaders. Made from quality, long-wearing rubber, they promise long-lasting performance on as well as off the field with unique ribbed and spaced patterns that offer grip on sloppy surfaces and reduce surface disturbance.

With improved efficiency in fuel and stability across hills, specialized diamond treads were designed to enhance soil disturbance further. A specificity in design and build helps farmers optimize field productivity, giving better crop yields with less soil compaction. As agriculture is being pushed further to expand, along with their challenges evolving, agricultural tires are sturdy solutions for both productivity and environmental issues that find vital space in contemporary agriculture practices.

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Key Players Listed in the Agricultural Tires Market Are:

• Bridgestone Corp.
• MRF
• Continental AG
• Titan International Inc.
• Pirelli & C SpA
• Trelleborg AB
• Goodyear
• Michelin
• Nokian Tires PLC
• Belshina
• Alliance Tire Group
• Euro tire
• Yokohama tire
• Balakrishna Industries Limited
• China National Tire & Rubber
• and Apollo Tires

Agricultural Tires Market Driven by Rising Demand for Sustainable and Autonomous Farming Solutions.

Some of the driving forces shaping the Agricultural Tires market are the ever-growing numbers of people on this Earth, the desire of the world population to raise food grains production, and a green-conscious farmer to look forward to a more responsible kind of farming. This need for sustainability is changing farming into the incorporation of lower pressure and bigger sizes so that they make more ground surface and then try not to impact too heavily in the soil thus also causing fewer compaction concerns long-term.

Inclusive use of autonomous machinery technologies can make demands for their features and also create specifications, allowing new needs to be introduced needs based on self-driven tractor capability like high traction along with longer durability with no to very minimal environment-harming characteristics creating an altogether distinct market opening opportunities for manufacturers towards inventive tires. Moreover, the demand for agricultural tires in modern farming activities is being increased where varied machinery has to be produced for diversified applications.

The agricultural tire market experiences due to the low-pressure tire technology as it leads to farming more efficiently and green. Low-pressure tires offer additional advantages of improved traction and ride comfort, as well as lower fuel consumption and emissions. As environmental sustainability becomes increasingly important to consumers, manufacturers are responding with technologies that meet such concerns without sacrificing performance. This trend is in line with a growing trend toward eco-friendly products and demonstrates the industry's commitment to sustainable practices, which is positive for the agricultural tire market.

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Agricultural Tires Market Segment Analysis

By Tire Type

The market for agricultural tires is categorized as biased and radial. High demand for radial tires has been predicted to take a tremendous leap in the upcoming years due to the increased life span and friction provided to them. These features along with the short lifespan of old-fashioned bias tires are seen as preferable by farmers to the long-lasting radial types.

By Sales Channel

The market is divided into OEM and aftermarket. Even though OEM has a big share, the aftermarket is expected to grow at a strong CAGR because it is affordable, has lots of options, and replaces worn-out tires on farm equipment already in use. Aftermarket options provide cost-effective choices and variety for farmers, which creates competitive dynamics among tire suppliers seeking long-term market share.

By Application

Products under this category include tractors, sprayers, trailers, loaders, and combine harvesters. Tractors happen to be the highest contributor in this category. Their diversity in executing multiple farm operations stimulates their demand as a prime investment by farmers for multi-functional machines that increase efficiency and decrease turnaround times.

Agricultural Tires Market Key Segmentation:

By Tire Type:

• Bias Tires
• Radial Tires

By Sales Channel:

• OEM
• Aftermarket

By Application:

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

Regional Development

North America is at the top of the Agricultural Tires Market, based on developments in farming technology and the progress of integrated farm operations. Modern farming equipment and techniques are responsible for the significant growth of this region's massive market. This same driver also supports growing interest in precision agriculture and sustainable crop management.

The Asia-Pacific region, with an average annual growth rate that is second to that of the North American region, can be supported by agricultural intensification in India and China among others. This can further contribute to a significant portion of tractors deployed in these countries; thus, the need for agricultural tires is significant and promising for manufacturers. For example, an abundance of raw materials like natural rubber in the Asia-Pacific region supports production and a strong competitive edge for the market: while labor is still low-cost, and local demand remains high. This regional growth dynamic together with worldwide trends toward sustainability underscores the agricultural tire market's expansive potential.

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Recent Developments

November 2024: Off-highway tire manufacturer BKT is to exhibit its existing ranges and some new additions on its stand at the EIMA International Agricultural Trade Show in Bologna, 6-10 November. On the stand, BKT will present its flagship Agrimax range of tires, including the Agrimax V-Flecto which is designed for soil tillage and transport applications. Besides these, there will be the Agrimax Factor, which has been developed for both field and road transport.

Table of Contents

1. Introduction
2. Industry Flowchart
3. Research Methodology
5. Impact Analysis
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Global Agricultural Tires Market Segmentation, by Tire Type
10. Global Agricultural Tires Market Segmentation, by Sales Channel
11. Global Agricultural Tires Market Segmentation, by Application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Use Case and Best Practices

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