Farm Tire Market size was valued at US$ 8.02 Bn. in 2022 and it is expected to reach US$ 11.28 Bn. by 2029, at a CAGR of 5% through out the forecast period.
Farm Tire Market Overview:
Farm Tire Market is a comprehensive examination that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis.
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Market Scope:
Using both primary and secondary research approaches, we researched the Farm Tire Market from every viewpoint. This helped us gain a better understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, customer habits, and so on. The data is then compiled and analysed using a range of market estimation and data validation techniques. Furthermore, we have an in-house data forecasting engine that forecasts market growth through 2027.
Dynamic:
The farm tyres’ 45-degree-inclined tread patterns offer the best traction, helping them to move quickly through mud and clay. For use with, among other pieces of machinery, tractors, combine harvesters, sprayers, trailers, and skid steer loaders, these come in a range of sizes and diameters. These are made of high-quality rubber, which is said to be a major reason boosting demand for the product because it will last a long time and offer better performance on and off the pitch. For better traction on slick ground, farm tyres are filled with ribs and gaps. Additionally, these tyres now have better hillside stability and fuel efficiency. Consequently, some tyres have diamond tread designs for less soil disturbance.
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Segmentation:
Bias and radial tyres make up the two main segments of the farm tyre market. Bias tyres dominated the market in 2022, bringing in 60% of all sales worldwide. As bias tyres are created from natural rubber, which is abundant in China and India, these two countries employ them extensively. Furthermore, the crosshatch bias tyre structure, along with its low cost, is likely to boost demand. Because raw materials are inexpensive, producing a product costs less money. On the other side, the decreasing supply of natural rubber is anticipated to prevent segment growth. The natural rubber also improves tyre stiffness, which degrades after use and compromises the longevity of bias tyres.
By Product
Bias tires
Radial tires
By Application
Tractors
Harvesters
Others
By Distribution Channel
OEM
Aftermarket
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Key Players:
The report also focuses on the global main industry players in the Farm Tire Market, including company biographies, product images and specs, capacity, production, price, cost, revenue, and contact information. The study examines prominent Farm Tire market businesses and ranks them in the market. The following players are featured in this report:
1.Balkrishna Industries Limited (BKT)
2. Bridgestone Corporation
3. Continental AG
4. The Goodyear Tire & Rubber Company
5. Michelin
6. Mitas Tires Global Inc.
7. TBC Corp.
8. Titan International
9. Sumitomo Rubber Industries Ltd.
10. Pirelli & C. S.P.A.
11. Goodyear
12. Camso
13. Apollo Tires
14. Trelleborg Wheel Systems
15. Armour Tyres
16. Firestone
17. Compagnie Générale des Établissements Michelin (CGEM)
18. Hankook Tire
19. MRF Limited
20. JK Tyre & Industries Ltd.
21. CEAT
22. The Carlstar Group, LLC
23. Specialty Tires of America, Inc.
24. Alliance Tire Group (ATG)
25. Trelleborg AB
Regional Analysis:
The Farm Tire market in each area is further segmented into regions and segments. The study examines and anticipates several nations, as well as current trends and opportunities in the area.
COVID-19 Impact Analysis on Farm Tire Market:
The primary goal of the research is to provide enterprises in the industry with a strategic analysis of the impact of COVID-19. Simultaneously, this research investigated the marketplaces of significant nations and presented their market potential.
Key Questions Answered in the Farm Tire Market Report are:
- What are some of the promising growth opportunities in the Farm Tire market by product type and Region?
- Which Farm Tire market segments will grow the fastest, and why?
- Which regions will develop quicker?
- What are the elements influencing Farm Tire market?
- What are the Farm Tire market’s business risks?
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