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:
The primary goal of this research is to assist the user in understanding the Farm Tire market in terms of definition, segmentation, market potential, significant trends, and the problems that the Farm Tire industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
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Market Scope:
The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
Market Dynamic:
The farm tyres' 45-degree inclination pattern provides the best traction, letting it to move quickly through muck and soil. These come in a range of sizes and diameters to fit tractors, combine harvesters, sprayers, trailers, and skid steer loaders, among other pieces of equipment. These are made of high-quality rubber that will last a long time and provide better performance on and off the pitch, and this is a crucial component boosting the product's demand. Farm tyres include several ribs and voids to provide grip on slick areas. Furthermore, these tyres' fuel efficiency and hillside stability have been increased. As a result, some tyres incorporate diamond tread shapes to minimise soil disruption.
Segmentation:
The farm tyre market is divided into two distribution channels: OEM and Aftermarket. The aftermarket segment will lead the market in 2022, accounting for 71.22% of worldwide sales. Increased demand for tyre replacement by farmers due to the expansion of agricultural activities around the world is predicted to help the segment's growth over the forecast period.
Bias tyres are becoming less popular as high-performance radial tyres take their place. Furthermore, as new vehicle sales decline, OEM distribution demand for tyres is lower than replacement demand. These factors are projected to boost aftermarket tyre sales. Furthermore, customers' desire for tyre retreading and the availability of such at low prices in the aftermarket are projected to rise.
By Product
Bias tires
Radial tires
By Application
Tractors
Harvesters
Others
By Distribution Channel
OEM
Aftermarket
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Key Players: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Farm Tire market are
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
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Regional Analysis:
The report focuses on Global Regions and Market Size of Farm Tire , and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.
COVID-19 Impact Analysis on Farm Tire Market:
The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Farm Tire industry in 2021.
See also Immunocytokines Market: Revolutionizing Industries with Disruptive Growth Strategies
Key Questions answered in the Farm Tire Market Report are:
- What is the function of Farm Tire ?
- What is the predicted revenue generation of the Farm Tire market?
- At what growth rate is the Farm Tire market evolving?
- Who are the major market giants operating in the Farm Tire market?
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