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

Telecommunication Services Market Size will Escalate Rapidly in the Near Future

The global telecommunication services market is prophesied to lay its hands on a substantial growth due to the need of telecom operators to optimize their business processes. There is a rising pressure on telecom operators to grow in the current market and operate profitably owing to the industry’s increasing competition. New service launches and continuous mergers and acquisitions in the market are expected to further intensify the level of competition in the industry. Thus, competence needs and financial pressure could be among the top growth factors of the market. Anticipated to expand at a CAGR of 6.6% between 2017 and 2025, the global telecommunication services market could obtain a valuation of US$1.4 bn by the concluding forecast year. In 2016, it exhibited its prominence while securing a US$0.8 bn valuation. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=38324 End-use vertical and package type are the ...
Post a Comment
Read more

RFID Tags Market is Expected to Grow at the Highest CAGR During the Forecast Period

Key players in the  U.S. RFID tags market  are Atmel Corporation, HID USA Corporation, Invengo Information Technology Ltd. Co., and NXP Semiconductors N.V. Competition among them and among other players are expected to heat up further over the course of next few years as they try to expand their market shares both via the inorganic route of mergers and acquisitions and organic route of product development and diversification. A report on the market published by Transparency Market Research finds that it would rise at an 8.5% CAGR over the course of the forecast period starting from 2017 and ending in 2025. At this pace, the market which was valued at US$809.4 mn in 2016, will likely become worth US$1,672.5 mn by 2025-end. Get PDF Sample of This Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=24536 The two types of RFID tags available in the market are active and passive tags. Between the two, the demand for passive RFI...
Post a Comment
Read more

Automotive EGR Gas Temperature Sensor Market Anticipated To Surge With An Impressive CAGR Of 2025

In an IC engine, EGR (exhaust gas recirculation) gas temperature sensors are used to measure the temperature of the exhaust system. EGR is a technique that is utilized to reduce the nitrogen oxide emissions in petrol/diesel engines. Exhaust gases are reintroduced into the engine combustion chamber to cool the combustion flame. Some vehicles employ an EGR temperature sensor to determine EGR operation. This information is used by the powertrain control module (PCM) to regulate the EGR operation. EGR gas temperature sensor is located in front of the Diesel Oxidation Catalyst (DOC) and in front of the Diesel Particulate Filter (DPF). It detects the exhaust gas temperature and converts it into a voltage and transmits this signal to the engine ECU in order to control engine conditions to effectively reduce emission. EGR bypass valve function diagnostic as well as thermal protection. Gas temperature sensors are employed in various applications such as petrochemicals, automotive s...
Post a Comment
Read more