As per this study the Global Farm Tire Market was valued USD 8.68 BN (by revenue) in 2022 and is anticipated to reach USD 14.37 BN by 2030 with a CAGR of 6.5%. Regarding volume, the market was calculated XX Thousand Units in 2022 and forecast to touch XX Thousand Units by 2030 with a CAGR of XX% during 2023-2030.
Farm tire or agriculture tire used in farm activities especially, these are designed to obtain efficient results of agricultural vehicles and machines. Farm tire is a type of specialty tire. Moreover, farm tire types include bias tires and radial tires and they have applications in tractors, combine harvester, sprayer, trailers, and loaders.
Market Dynamics
The increasing penetration of farm vehicles in the agricultural industry is driving market growth. Additionally, increasing demand for agricultural machines in emerging economies is further fuelling market growth. On the other hand, the fluctuating price of raw material may hamper market growth. Whereas, rapid urbanization and industrialization results in the reduction of land use for agriculture which increases the farm mechanization is expected to offer opportunity over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of farm tire.
Market Segmentation
The broad farm tire market has been sub-grouped into product, application type and construction type. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product
By Application
- Tractors
- Harvesters
- Forestry
- Irrigation
- Implements
- Sprayers
By Distribution
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for farm tire in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Farm Tire Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Farm Tire market includes Balkrishna Industries Limited (BKT), Bridgestone Corporation, Continental AG, Compagnie Générale des Établissements Michelin (CGEM), Sumitomo Rubber Industries Ltd., Titan International Inc., Mitas, TBC Corporation, Apollo Tyres Ltd., Hankook Tire, MRF Limited, JK Tyre & Industries Ltd., CEAT, The Carlstar Group LLC, Specialty Tires of America Inc., Alliance Tire Group (ATG), Trelleborg AB. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.