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Agricultural Tires Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Application Type (Tractors, Combine Harvester, Sprayers, Trailers, Loaders, Others), By Sales Channel (OEM, Aftermarket), By Tire Type (Bias Type, Radial Type) and By Region
Market Report I 2023-05-01 I 113 Pages I TechSci Research
Global agricultural tires market has shown decent growth in the past few years, and it is expected to increase at a high rate during the forecasted period, 2023-2028.
The agricultural tire market has witnessed growth in the past years owing to the increasing sales of agricultural vehicles. Governments in many countries have plans to invest in the agricultural sector to boost the production of goods to meet the demand of the public. In the US, any agricultural R&D conducted at universities receives funding sources that are supported by federal-state partnerships. The US Department of Agriculture (USDA) has invested around USD 4 billion in the agricultural sector, and this has strengthened the food system. Owing to this investment, the food and supply chain system will also improve, and the sales of agricultural vehicles will increase to strengthen the supply system. On account of such government initiatives, demand for off-the-road (OTR) vehicles is expected to register significant growth over the coming years, as well as the demand for OTR tires is also expected to increase.
Development of an Agrarian Economy
Several Asia-Pacific countries, including China, India, and Indonesia, rely mainly on agriculture. Furthermore, agriculture contributes significantly to the GDP of African countries such as Benin, Cameroon, Burundi, Comoros, Congo, Burkina Faso, Chad, and Ethiopia. The agriculture sector in emerging economies is expanding as a result of constant modernization and increased use of cutting-edge agricultural techniques. In such developing countries, advanced OTR vehicles such as 4WD and scrapers, track tractors, corn heads, drawn planters, balers, disc harrows, and vertical tillage are being introduced to assist in solving the issues related to manual workers and accomplishing greater productivity. End hunger, agricultural development is one of the most powerful sectors as it provides food to everyone. The growth in the agriculture sector has been seen in the past few years, and it is expected to grow further during the forecast period.
Increasing Penetration of Chinese Tire Brands
As the sales of agricultural vehicles have increased in various countries across the globe, the demand for OTR tires has also increased. To fulfill the demand for tires, many Chinese players have entered the market as they offer tires at very genuine prices compared to the other market players. Owing to the easy availability of Chinese tires at genuine prices, the demand for Chinese agricultural tires has increased in various countries worldwide, wherein there are many Chinese companies that have been able to maximize their profits by catering to this increasing tire demand. There are many countries that have increased the import of Chinese OTR tires as they are easily available at a lower price and are of better quality. As the demand for Chinese OTR tires has increased, many Chinese companies have started to expand their manufacturing capacity and distribution network in various geographies worldwide. This is one of the primary factors attributable to the growing demand for Chinese OTR tires in the global agricultural tire market.
Growing Retread Tire Market
The high cost of brand-new OTR tires is a significant limitation that is driving global retread tire sales. Furthermore, when compared to new tire production, tire retreading uses only one-third of the number of petrochemicals and silica. As a result, retread tires are less expensive than brand-new tires, and tire retreading is emerging as a cost-effective solution for OTR vehicle owners nationally and internationally. Retread OTR tires are commonly found in construction, agricultural machinery, mining, and industrial.
Furthermore, tire wear and tear is high because of extreme climatic conditions and increased use of OTR tires, which adds to the servicing expenses involved by OTR vehicle owners. The demand for retreaded tires is primarily driven by the different OTR segments to reduce the cost, OTR owners demand retreated tires for their OTR vehicles, and this trend is expected to increase in the coming years. Owing to increasing demand for retreating OTR tiers, new OTR manufacturers many enter the market.
Market Segmentation
The global agricultural tire market is segmented based on the basis of application type, sales channel type, tire type, region, and competition. Based on application type, the market is further fragmented into tractors, combine harvesters, sprayers, trailers, loaders, and others. Based on sales channel type, the market is bifurcated into OEM & aftermarket. Based on tire type, the market is further divided into bias tires and radial tires. The market analysis also studies the regional segmentation to devise regional market segmentation, divided into Europe, Asia-Pacific, North America, South America, and Middle East & Africa.
Company Profiles
Michelin Group, Balkrishna Industries Limited (BKT), Apollo Tyres Ltd., Bridgestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Madras Rubber Factory Ltd, The Yokohama Rubber Co., Ltd, Toyo Tire Corporation, Zhongce Rubber Group Co., Ltd., are among the major players that are leading the growth of the global agricultural tires market.
Report Scope:
In this report, the global agricultural tires market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
- Global Agricultural Tires Market, By Application Type:
o Tractors
o Combine Harvester
o Sprayers
o Trailers
o Loaders
o Other
- Global Agricultural Tires Market, By Sales Channel:
o OEM
o Aftermarket
- Global Agricultural Tires Market, By Tire Type:
o Bias Tires
o Radial Tires
- Global Agricultural Tires Market, By Region:
o Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Thailand
- Malaysia
- Vietnam
o North America
- The United States
- Canada
- Mexico
o Europe & CIS
- Germany
- Spain
- Russia
- France
- United Kingdom
- Slovakia
- Italy
o Middle East & Africa
- Saudi Arabia
- Turkey
- South Africa
- Egypt
o South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global agricultural tires market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Impact of COVID-19 on Global Agricultural Tires Market
4.1. Key Segments Impacted
4.2. Key Regions Impacted
4.3. Key Countries Impacted
5. Voice of Customer
5.1. Brand Awareness
5.2. Factors Influencing Purchase Decision
5.3. Brand Satisfaction Level
6. Global Agricultural Tires Market Outlook, 2018-2028F
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Application Type Market Share Analysis (Tractors, Combine Harvester, Sprayers, Trailers, Loaders, and Others)
6.2.2. By Sales Channel Market Share Analysis (OEM, and Aftermarket)
6.2.3. By Tire Type Market Share Analysis (Bias Tires, and Radial Tires)
6.2.4. By Regional Market Share Analysis
6.2.4.1. Asia-Pacific Market Share Analysis
6.2.4.2. North America Market Share Analysis
6.2.4.3. Europe & CIS Market Share Analysis
6.2.4.4. Middle East & Africa Market Share Analysis
6.2.4.5. South America Market Share Analysis
6.2.5. By Company Market Share Analysis (By Value, 2022)
6.3. Global Agricultural Tires Market Mapping & Opportunity Assessment
6.3.1. By Application Type Market Mapping & Opportunity Assessment
6.3.2. By Sales Channel Mapping & Opportunity Assessment
6.3.3. By Tire Type Mapping & Opportunity Assessment
6.3.4. By Regional Market Mapping & Opportunity Assessment
7. Asia-Pacific Agricultural Tires Market Outlook
7.1. Market Size & Forecast
7.1.1. By Volume and Value
7.2. Market Share & Forecast
7.2.1. By Application Type Market Share Analysis
7.2.2. By Sales Channel Market Share Analysis
7.2.3. By Tire Type Market Share Analysis
7.2.4. By Country Market Share Analysis
7.3. Asia-Pacific: Country Analysis
7.3.1. China Agricultural Tires Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Volume and Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Application Type Market Share Analysis
7.3.1.2.2. By Sales Channel Market Share Analysis
7.3.1.2.3. By Tire Type Market Share Analysis
7.3.2. India Agricultural Tires Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Volume and Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Application Type Market Share Analysis
7.3.2.2.2. By Sales Channel Market Share Analysis
7.3.2.2.3. By Tire Type Market Share Analysis
7.3.3. Japan Agricultural Tires Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Volume and Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Application Type Market Share Analysis
7.3.3.2.2. By Sales Channel Market Share Analysis
7.3.3.2.3. By Tire Type Market Share Analysis
7.3.4. South Korea Agricultural Tires Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Volume and Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Application Type Market Share Analysis
7.3.4.2.2. By Sales Channel Market Share Analysis
7.3.4.2.3. By Tire Type Market Share Analysis
7.3.5. Indonesia Agricultural Tires Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Volume and Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Application Type Market Share Analysis
7.3.5.2.2. By Sales Channel Market Share Analysis
7.3.5.2.3. By Tire Type Market Share Analysis
7.3.6. Thailand Agricultural Tires Market Outlook
7.3.6.1. Market Size & Forecast
7.3.6.1.1. By Volume and Value
7.3.6.2. Market Share & Forecast
7.3.6.2.1. By Application Type Market Share Analysis
7.3.6.2.2. By Sales Channel Market Share Analysis
7.3.6.2.3. By Tire Type Market Share Analysis
7.3.7. Malaysia Agricultural Tires Market Outlook
7.3.7.1. Market Size & Forecast
7.3.7.1.1. By Volume and Value
7.3.7.2. Market Share & Forecast
7.3.7.2.1. By Application Type Market Share Analysis
7.3.7.2.2. By Sales Channel Market Share Analysis
7.3.7.2.3. By Tire Type Market Share Analysis
7.3.8. Vietnam Agricultural Tires Market Outlook
7.3.8.1. Market Size & Forecast
7.3.8.1.1. By Volume and Value
7.3.8.2. Market Share & Forecast
7.3.8.3. By Application Type Market Share Analysis
7.3.8.4. By Sales Channel Market Share Analysis
7.3.8.5. By Tire Type Market Share Analysis
8. North America Agricultural Tires Market Outlook
8.1. Market Size & Forecast
8.1.1. By Volume and Value
8.2. Market Share & Forecast
8.2.1. By Application Type Market Share Analysis
8.2.2. By Sales Channel Market Share Analysis
8.2.3. By Tire Type Market Share Analysis
8.2.4. By Region Market Share Analysis
8.2.5. By Country Market Share Analysis
8.3. North America: Country Analysis
8.3.1. USA Agricultural Tires Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Volume and Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Application Type Market Share Analysis
8.3.1.2.2. By Sales Channel Market Share Analysis
8.3.1.2.3. By Tire Type Market Share Analysis
8.3.2. Mexico Agricultural Tires Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Volume and Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Application Type Market Share Analysis
8.3.2.2.2. By Sales Channel Market Share Analysis
8.3.2.2.3. By Tire Type Market Share Analysis
8.3.3. Canada Agricultural Tires Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Volume and Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Application Type Market Share Analysis
8.3.3.2.2. By Sales Channel Market Share Analysis
8.3.3.2.3. By Tire Type Market Share Analysis
9. Europe & CIS Agricultural Tires Market Outlook
9.1. Market Size & Forecast
9.1.1. By Volume and Value
9.2. Market Share & Forecast
9.2.1. By Application Type Market Share Analysis
9.2.2. By Sales Channel Market Share Analysis
9.2.3. By Tire Type Market Share Analysis
9.2.4. By Country Market Share Analysis
9.3. Europe & CIS: Country Analysis
9.3.1. Germany Agricultural Tires Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Volume and Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Application Type Market Share Analysis
9.3.1.2.2. By Sales Channel Market Share Analysis
9.3.1.2.3. By Tire Type Market Share Analysis
9.3.2. Spain Agricultural Tires Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Volume and Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Application Type Market Share Analysis
9.3.2.2.2. By Sales Channel Market Share Analysis
9.3.2.2.3. By Tire Type Market Share Analysis
9.3.3. Russia Agricultural Tires Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Volume and Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Application Type Market Share Analysis
9.3.3.2.2. By Sales Channel Market Share Analysis
9.3.3.2.3. By Tire Type Market Share Analysis
9.3.4. France Agricultural Tires Market Outlook
9.3.4.1. Market Size & Forecast
9.3.4.1.1. By Volume and Value
9.3.4.2. Market Share & Forecast
9.3.4.2.1. By Application Type Market Share Analysis
9.3.4.2.2. By Sales Channel Market Share Analysis
9.3.4.2.3. By Tire Type Market Share Analysis
9.3.5. United Kingdom Agricultural Tires Market Outlook
9.3.5.1. Market Size & Forecast
9.3.5.1.1. By Volume and Value
9.3.5.2. Market Share & Forecast
9.3.5.2.1. By Application Type Market Share Analysis
9.3.5.2.2. By Sales Channel Market Share Analysis
9.3.5.2.3. By Tire Type Market Share Analysis
9.3.6. Slovakia Agricultural Tires Market Outlook
9.3.6.1. Market Size & Forecast
9.3.6.1.1. By Volume and Value
9.3.6.2. Market Share & Forecast
9.3.6.2.1. By Application Type Market Share Analysis
9.3.6.2.2. By Sales Channel Market Share Analysis
9.3.6.2.3. By Tire Type Market Share Analysis
9.3.7. Italy Agricultural Tires Market Outlook
9.3.7.1. Market Size & Forecast
9.3.7.1.1. By Volume and Value
9.3.7.2. Market Share & Forecast
9.3.7.2.1. By Application Type Market Share Analysis
9.3.7.2.2. By Sales Channel Market Share Analysis
9.3.7.2.3. By Tire Type Market Share Analysis
10. Middle East & Africa Agricultural Tires Market Outlook
10.1. Market Size & Forecast
10.1.1. By Volume and Value
10.2. Market Share & Forecast
10.2.1. By Application Type Market Share Analysis
10.2.2. By Sales Channel Market Share Analysis
10.2.3. By Tire Type Market Share Analysis
10.2.4. By Country Market Share Analysis
10.3. Middle East & Africa: Country Analysis
10.3.1. Saudi Arabia Agricultural Tires Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Volume and Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Application Type Market Share Analysis
10.3.1.2.2. By Sales Channel Market Share Analysis
10.3.1.2.3. By Tire Type Market Share Analysis
10.3.2. Turkey Agricultural Tires Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Volume and Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Application Type Market Share Analysis
10.3.2.2.2. By Sales Channel Market Share Analysis
10.3.2.2.3. By Tire Type Market Share Analysis
10.3.3. South Africa Agricultural Tires Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Volume and Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Application Type Market Share Analysis
10.3.3.2.2. By Sales Channel Market Share Analysis
10.3.3.2.3. By Tire Type Market Share Analysis
10.3.4. Egypt Agricultural Tires Market Outlook
10.3.4.1. Market Size & Forecast
10.3.4.1.1. By Volume and Value
10.3.4.2. Market Share & Forecast
10.3.4.2.1. By Application Type Market Share Analysis
10.3.4.2.2. By Sales Channel Market Share Analysis
10.3.4.2.3. By Tire Type Market Share Analysis
11. South America Agricultural Tires Market Outlook
11.1. Market Size & Forecast
11.1.1. By Volume and Value
11.2. Market Share & Forecast
11.2.1. By Application Type Market Share Analysis
11.2.2. By Sales Channel Market Share Analysis
11.2.3. By Tire Type Market Share Analysis
11.2.4. By Country Market Share Analysis
11.3. South America: Country Analysis
11.3.1. Brazil Agricultural Tires Market Outlook
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Volume and Value
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Application Type Market Share Analysis
11.3.1.2.2. By Sales Channel Market Share Analysis
11.3.1.2.3. By Tire Type Market Share Analysis
11.3.2. Argentina Agricultural Tires Market Outlook
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Volume and Value
11.3.2.2. Market Share & Forecast
11.3.2.2.1. By Application Type Market Share Analysis
11.3.2.2.2. By Sales Channel Market Share Analysis
11.3.2.2.3. By Tire Type Market Share Analysis
11.3.3. Colombia Agricultural Tires Market Outlook
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Volume and Value
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Application Type Market Share Analysis
11.3.3.2.2. By Sales Channel Market Share Analysis
11.3.3.2.3. By Tire Type Market Share Analysis
12. Market Dynamics
12.1. Market Drivers
12.2. Market Challenges
13. Market Trends & Developments
14. Porters Five Forces Model
14.1. Competitive Rivalry
14.2. Bargaining Power of Suppliers
14.3. Bargaining Power of Buyers
14.4. Threat of New Entrants
14.5. Threat of Substitutes
15. Competitive Landscape
15.1. Company Profiles
15.1.1. Michelin Group
15.1.1.1. Company Details
15.1.1.2. Products & Services
15.1.1.3. Financial (As Reported)
15.1.1.4. Recent Development
15.1.1.5. Key Management Personnel
15.1.2. Balkrishna Industries Limited (BKT)
15.1.2.1. Company Details
15.1.2.2. Products & Services
15.1.2.3. Financial (As Reported)
15.1.2.4. Recent Development
15.1.2.5. Key Management Personnel
15.1.3. Apollo Tyres ltd
15.1.3.1. Company Details
15.1.3.2. Products & Services
15.1.3.3. Financial (As Reported)
15.1.3.4. Recent Development
15.1.3.5. Key Management Personnel
15.1.4. Bridgestone Corporation
15.1.4.1. Company Details
15.1.4.2. Products & Services
15.1.4.3. Financial (As Reported)
15.1.4.4. Recent Development
15.1.4.5. Key Management Personnel
15.1.5. Continental AG
15.1.5.1. Company Details
15.1.5.2. Products & Services
15.1.5.3. Financial (As Reported)
15.1.5.4. Recent Development
15.1.5.5. Key Management Personnel
15.1.6. Goodyear Tire and Rubber Company
15.1.6.1. Company Details
15.1.6.2. Products & Services
15.1.6.3. Financial (As Reported)
15.1.6.4. Recent Development
15.1.6.5. Key Management Personnel
15.1.7. Madras Rubber Factory Ltd
15.1.7.1. Company Details
15.1.7.2. Products & Services
15.1.7.3. Financial (As Reported)
15.1.7.4. Recent Development
15.1.7.5. Key Management Personnel
15.1.8. The Yokohama Rubber Co., Ltd.
15.1.8.1. Company Details
15.1.8.2. Products & Services
15.1.8.3. Financial (As Reported)
15.1.8.4. Recent Development
15.1.8.5. Key Management Personnel
15.1.9. Toyo Tire Corporation
15.1.9.1. Company Details
15.1.9.2. Products & Services
15.1.9.3. Financial (As Reported)
15.1.9.4. Recent Development
15.1.9.5. Key Management Personnel
15.1.10. Zhongce Rubber Group Co., Ltd.
15.1.10.1. Company Details
15.1.10.2. Products & Services
15.1.10.3. Financial (As Reported)
15.1.10.4. Recent Development
15.1.10.5. Key Management Personnel
16. Strategic Recommendations/Action Plan
16.1. Key Focus Areas
16.2. Target Regions & Countries
16.3. Target Application Type
(Note: The companies list can be customized based on the client requirements.)
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We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
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- Website security