Pune, India, March 2021, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Agricultural Tires Market.
The global Agricultural Tires market size is anticipated to register a significant CAGR of 5% between 2020 and 2026. Agriculture tires, as the name implies these are dedicated to complete farm or agriculture use. Agricultural tires are specialty tires used for agricultural machinery such as tractors, harvesters, trailers, etc. These tires provide better fuel economy, performance, and driver comfort of farming vehicles.
Agriculture tires, as the name implies these are dedicated to complete farm or agriculture use. These tires have diagonal thread angled at 45 degrees. The treads provide maximum traction thereby allowing the tractor to move quickly through mud and soil. These are available in various sizes and diameter, for many kinds of equipment, including tractors, combine harvesters, sprayers, trailers, and skid steer loaders. These are made from supreme quality rubber for life long and better performance to remain durable on and off the field. They have substantial ribs and voids for traction in soft terrain. These tires have increased fuel efficiencies and hillside stability. Some tires have diamond tread design for minimal soil disruption.
Growing food demand is one of the prime reasons for the increased need for mechanization within the Agricultural sector. Tires play an essential role in the performance of the agricultural machines, and hence the demand for agrarian ties are increasing. However, Tires are hazardous to the environment as they are not biodegradable. They contribute to landfill waste and although are classified as municipal solid waste rather than hazardous waste by Environmental Protection Agency (EPA). Tires release toxins, and the oils it can contaminate the soil and groundwater. Further, solvents or volatile organic compounds (VOC) are used to produce heavy and treads for improving the adhesion of the tires, in which the process release the maximum number of emissions into the air. The hazardous nature of agricultural tires might hamper market growth shortly.
Global Agricultural Tires Market, 2020–2026
In 2019, North America Contributed Significantly to the Agricultural Tires Market in Terms of Share: MRFR
Based on region, the global Agricultural Tires market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The largest share in the market will be dominated by North America owing to up-gradation in farming equipment and evolution in the agricultural industry which is aiding the growth for modern-day integrated farming activities. Further, the increasing growth of agriculture in India and China which makes Asia-Pacific the next fastest growing region. China and India together account for a significantly high number of tractors in use worldwide. Thus, they offer significant opportunities to manufacturers of agriculture tires. Availability of key raw material such as natural rubber, inexpensive labor, and high domestic demand for tires has helped the emergence and expansion of key players in the region.
The global Agricultural Tires market has been segmented by Tire Type, sales channel, Application, and region. Based on Tire Type, the global Agricultural Tires market can be bifurcated into Bias Tires and Radial Tires. The Radial Tires segment is anticipated to grow at a significant CAGR in the coming years. By Sales Channel, the Agricultural Tires market has been split into OEM and Aftermarket. The Aftermarket segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By Application, the Agricultural Tires market has been split into Tractors, Combine Harvesters, Sprayers, Trailers, Loaders, and Others. The Tractors segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years.
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The global Agricultural Tires market size is anticipated to register a significant CAGR of 5% between 2020 and 2026.
Scope of the Report
This report provides an in-depth analysis of the global Agricultural Tires market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, and the rest of the world. The report also presents a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Agricultural Tires market by Tire Type, sales channel, Application, and region.
Key players in the global Agricultural Tires market are Bridgestone Corp., Continental AG, Balakrishna Industries Limited, Titan International, Inc., Trelleborg AB, Michelin, Nokian Tyres PLC, Pirelli & C SpA, Alliance Tire Group, and Apollo Tyres.