Transparency Market Research in its new report titled, “Agriculture Tires Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026, ” provides key insights on the agriculture tires market. The upcoming report anticipates rising need to generate more yield and rapid advancements in farming techniques are expected to augment the market for agriculture tires during the forecast period. As per the report, in the wake of growing population, the demand for using various agriculture machineries to obtain products has been increasing at a rapid pace. Furthermore, growth in urbanization and industrialization is reducing the space available for agriculture, thereby augmenting the need to upgrade technologies and use agriculture tires.
Europe has witnessed high sales of agriculture tractors and thus, it is a promising market for agriculture tires. Europe has about 50% of its land utilized for agriculture. The region also has a large number of small-scale farmers and families who have resorted to organic farming, thereby fuelling the demand for agriculture tires. On the other hand, countries in APAC have less arable land and large population. China and India are experiencing high sales of agriculture tractors and this factor is predicted to drive the agriculture tires market in APAC during the forecast period. Erratic weather conditions have prompted the need to speed up agricultural processes and this factor is fueling the agriculture tires market. Awareness among farmers in developing countries is estimated to fuel the demand of agriculture tires in these countries.
The report has segmented the global agriculture tires market on the basis of tire type, application type, sales channel, and geography. In terms of tire type, the market is segregated into radial ply tires and bias ply tires. The radial ply tires segment holds a prominent market share, as radial tires run at a lower pressure than other tires and offer better ride ability. Bias ply tires are inexpensive and tougher and they last longer. Hence, they are gaining importance in the global agriculture tires market. Based on application, the agriculture tires market has been segmented into six segments, with tractors and combined harvesters being the two prominent segments. In terms of sales channel, the agriculture tires market is classified into OEMs and aftermarket. OEMs is the primary user of agriculture tires. However, as the tire is a wear-and-tear product requiring periodic maintenance, it witnesses high aftermarket demand.
In terms of regional perspective, the global agriculture tires market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America and Europe witness use of advanced technologies for farming and hence, they lead the global agriculture tires market. Asia Pacific has major producers of rubber and the tire industry in the region is expanding. Growing demand and government initiatives to support the agriculture sector in the region are driving the market for agriculture tires in Asia Pacific.
Prominent players operating in the global agriculture tires market are included in this report to give a better competitive analysis and these include JK Tire & Industries Ltd, Apollo Tires, CEAT Tires, Bridgestone Corporation, Comar Tire & Rubber Industrial Co. , Ltd, MICHLIN, Titan International Inc. , Trelleborg Wheel Systems Americas Inc. , Amco Industrial Enterprises Private Limited, and Alliance Tire Americas Inc.
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