Skip to main content

Farm Tire Market: Industry Analysis And Detailed Profiles Of Top Industry Players

Some of the prominent participants in the global Farm Tire Market are Bridgestone Corporation, Balkrishna Industries Limited (BKT), Continental AG, TBC Corp., The Goodyear Tire & Rubber Company, Michelin, Mitas Tires Global Inc., Pirelli & C. S.P.A., Titan International, and Sumitomo Rubber Industries Ltd.

In order to gain an edge over their competitors, keen players in the global market for farm tire are pouring money to upgrade their production processes and also trying to improve their product portfolios. While well-entrenched big players are banking on better production processes to reduce operational costs and increase profit margins, upcoming players are setting up manufacturing facilities in emerging economies of China and India to take advantage of low cost labor and land.

A report by Transparency Market Research predicts the volume in the global market for farm tire to rise at a CAGR of 6.2% from 2017 to 2025. At this rate, the volume in the market will likely become worth 25,391.4 thousand units by 2025-end from 14,843.5 thousand units in 2016.

Depending upon the type of tire, the global farm tire market can be segmented into radial and bias. Among the two, the segment of radial tire rakes in maximum revenue. This is because radial tire, built from steel belts that are at a 90 degree angle of the tread center line, provide about 10% to 15% greater traction. They also help to save fuel and thereby up efficiency.


From a geographical standpoint, Asia Pacific leads the market with maximum revenue. Volume-wise too, it holds a dominant position. The region is also slated to outpace all others vis-à-vis growth by clocking a CAGR of 7.2%. A burgeoning population that has been continuously driving up the demand for food in the region is primarily responsible for stoking growth in Asia Pacific.

Burgeoning Population Fuelling Market Growth

At the forefront of driving demand in the global farm tire market is the growing population generating a pressing need for food. This has necessitated improved farming methods to up production. Realizing the need, farmers worldwide are swiftly adopting mechanized farming methods. This in turn has been driving up the demand for farming machineries such as tractors and harvesters that require farm tire.



Supportive Policies by Governments Have Positive Influence on Market

Another factor proving beneficial to the global farm tire market is the helpful policies by governments of most nations pertaining to subsidies for agro machinery and the purchase of farming-related equipment, as well as easy access to credit.

“All the countries in the world are adopting mechanized farming processes at their own pace, to cater to the rising demand of agricultural products needed to feed an ever-increasing population. As a result both tractors and harvesters are seeing soaring demand. Currently, equipment with 81-200 HP sub segment grosses most of the revenue in the global farm tire market. However, even the relatively lower average power ranged segment, 0-80 HP, is considerably used in different regions of the world including Asia Pacific and Middle East.”

This review is based on the findings of a TMR report, titled, “Farm Tire Market (Tire Type - Bias and Radial; Application - Tractors and Harvesters; Equipment Horse Power - 0-80HP and 81-200HP) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”


Global Farm Tire Market, by Tire Type

  • Bias
  • Radial

Global Farm Tire Market, by Application

  • Tractors
  • Harvesters
  • Others (Combines, Sprayers, Trailers etc.)

Global Farm Tire Market, by Equipment Horse Power

  • 0-80 HP
  • 81-200 HP

Global Farm Tire Market, by Geography

  • North America
  • The U.S.
  • Canada
  • Rest of North America
  • Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe
  • Asia Pacific (APAC)
  • China
  • Australia
  • New Zealand
  • Indonesia
  • Taiwan
  • Malaysia
  • Rest of APAC
  • Middle East and Africa (MEA)
  • Turkey
  • South Africa
  • Rest of MEA
  • South America

  • Brazil
  • Rest of South America

Comments

Post a Comment

Popular posts from this blog

Global Thin Wafer Processing and Dicing Equipment Market - A cutting-edge technology, industry survey and new business opportunities 2024

Global Thin Wafer Processing and Dicing Equipment Market: Overview Rising demand for three dimensional integrated circuit used extensively across various miniature semiconductor devices is one of the important factor anticipated to boost the demand for thin wafer processing and dicing equipment in the coming years. Three dimensional integrated circuit are increasingly adopted across various space constrained applications including portable consumer electronic devices, sensors, MEMS and industrial products as it increases the overall performance of the products in terms of speed, durability, low power consumption, light weight and memory. Moreover, three dimensional integrated circuit also helps to reduce the area of consumption in a printed circuit board and in turn enables extensive cost reduction. Thin wafer of thickness 20 um – 50 um is an integral part of the three dimensional integrated circuit technology. Thus, anticipated increasing demand for three dimensional integra...
1 comment
Read more

Data Science Platform Market Set to Witness Significant Growth in the Coming Years

Data Science Platform Market: Overview Big data, advance analytics and predictive modeling are now becoming indispensable part of business houses, who are striving to optimize decision-making and deliver value to customers. With rise in enormous data generated in various digital platforms and corresponding increase in use of various data analytics tool the phrase “data science platform” has been tossed around about a lot recently. Data science platforms are supposed to be an arena where plethora of various data scientists works are collected. In colloquial term, data science platform terms defines that it provides various algorithm integrated with analytical tools that help data analyst to cluster and explore data from varied sources, and further design and implement models. These models sought from data science platform helps in framing decisions and strategies. Data science platform assist wide array of various suite of tools that is being introduced subsequently implemented ...
Post a Comment
Read more

Harbor Management System Market: Market Scope and Size by Application

Harbor management software assists in maintaining the safety and security of vessels. Certain type of this harbor management software has a facility wherein it can trace vessels near the harbor within a specific range. The vessels can be viewed through graphics. This helps harbor managers in identifying if a vessel is in the wrong location or if the vessel’s location information is incorrect. Harbor management software assists in maintaining the safety and security of vessels. Certain type of this harbor management software has a facility wherein it can trace vessels near the harbor within a specific range. The vessels can be viewed through graphics. This helps harbor managers in identifying if a vessel is in the wrong location or if the vessel’s location information is incorrect. Through the graphical overview, harbor managers can also recognize if the vessels are moving toward each other, which can lead to a collision and can alert the vessels to divert their route a bit from t...
Post a Comment
Read more