About Farm Tire
The farm tires market are the devices that are rapidly focusing on agricultural segments which mostly applicable in high horse power tractor, harvesters and others. Its exhibits better machine performance, increased productivity, decreased operating cost and gain better profit margins. The farm tires divided into premium grade radial tires and biased tires that fully focused on maximum speed, flexion, standards and horse power. The farm tires are exists in tractors that are mostly applicable in field work such as cultivating, seedbed preparation, irrigation purposes in agricultural fields. The electrical appliances major application observed in house-hold usability because it reduces the time consuming activities and produced real time output. The farm tires market is rapidly increasing in global regions due to versatile application of advanced deflection design technology that delivered high floatation, resistance and high horse power in tractors by developed countries. Carlisle introduced a semi-pneumatic wheels that consist of cast-iron Spoke Gauge wheel in US markets that beneficial in optimizing precision seed depth for increased yield.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 5.1% |
It has been witnessed that most the major players are entered into the market with latest technology that defines from in-depth research and development practices within their product lines.For Instance, Firestone Ag launched advanced radial implemented tires with advanced deflection design technology that offers less soil compaction, uniform contact area and increased stubble resistance. It also exhibits tread pattern with bitting edges that raising the traction in wet environment conditions compared to other traditional rib implements tires. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Farm Tire market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Titan Tire Corporation (United States), Bridgestone Americas Inc. (United States), Michelin (France), Sinotyre Industrial Qingdao Limited (China), Alliance Tire Americas Inc. (United States), Amco Industrial Enterprises Private Limited (India), Gaomi Xinrui Rubber Products Co., Ltd.(China), Comar Tyre & Rubber Industrial Co., Ltd. (China), Asian Tire Factory Ltd. (India), Qingdao Melton Tire Co., Ltd.(China), Tianjin Rocket International Trade Co., Ltd. (China) and Trelleborg Wheel Systems Americas Inc.( United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Yancheng Tuopu Tyre Co., Ltd.(China), Dongying Bintai Rubber And Plastic Co., Ltd. (China), Shandong Henry Rubber Co., Ltd.(China) and Superking Manufacturers (Tyre) Pvt. Ltd.(India).
Segmentation Overview
AMA Research has segmented the market of Global Farm Tire market by Type (Radial tires [radial drive], Bias tires [Bias drive, Bias Steer], Combine tires, Sprayer tires, Tractor cross ply tires, Implement cross ply tires, Municipal tires and Others), Application (Tractors [Farm Tractors, Lawn Tractors], Harvesters and Others [Sprayers, Trailers and Combines]) and Region.
On the basis of Type, Radial Tires are dominating the market in the year 2023On the basis of application, Tractors segment is dominating the market in the year 2023 where as Farms Tractors segment stood as second largest market .On the basis of geography, the market of Farm Tire has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. U.S., on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channels, the sub-segment i.e. OEMs (Original Equipment’s manufacturer) will boost the Farm Tire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Horse Power , the sub-segment i.e. 0-80 HP will boost the Farm Tire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pressure , the sub-segment i.e. High Pressure will boost the Farm Tire market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adaptation of Advanced Technology by Farmers to Increase the Agricultural Yields. and Increase Demand Due To Government Support towards Sustainable Farming Practices.
Market Growth Drivers:
Increase Demand of Technology Advancement in Farming Tire Market. and Growing Population Leads to Yielding More Crops, Thus Making Them Use Farm Tire for Better Results.
Challenges:
The High Cost of Equipment Leads to Lowering Down the Agricultural Practices.
Restraints:
Numerous Regulation Norms and Intervention of Government Hampers the Agricultural Equipment Market. and Fluctuation in Raw Materials Prices Affects the Firm Tire Market.
Opportunities:
Growing Awareness among the Farmers by Utilizing Semi-Automated Farming Vehicles and Automated Machinery. and Increase in Research and Development by Major Manufacturers and Investors
Market Leaders and their expansionary development strategies
In March 2023, CEAT is proud to announce that CEAT Farmax radials are being fitted in Case IH and New Holland tractors.The agreement was locked after several rounds of assessment and audits by the OEM of the Mumbai-based radial plant of CEAT and after multiple tests done on tires on various parameters.
In October 2023, Nokian Tyres Flexforce VF is a unique new tire technology that enables more efficient agricultural work by creating an XXL-sized ground contact and by reducing loss of power. The first tractor tire utilizing this technology is Nokian Tyres Soil King VF, which has already proven to be ahead of competition in third-party tests. A new flotation tire for high-capacity tankers and trailers, Nokian Tyres Float King VF, complements the Flexforce VF range.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.