Global Farm Tire Market: size was valued at US$ 7.64 Bn. in 2021 and it is expected to reach US$ 11.29 Bn. by 2029, at a CAGR of 5% through out the forecast period.
Global Farm Tire Market Overview:
Extensive Global Farm Tire Market analysis is carried out by attentively monitoring important product positioning and the market framework’s top competitors. Key competitors are profiled and their tactics are extensively examined to grasp the competitive perspective of the global Global Farm Tire market.
The Global Farm Tire market study also gives information on the leading businesses functioning in the Global Farm Tire industry’s strategic ambitions and company growth strategies. Mergers and acquisitions, government and corporate transactions, partnerships and collaborations, joint ventures, brand promotions, and product launches are among the methods evaluated in the research. To summarise what has been said thus far, the report provides a comprehensive picture of the Global Farm Tire market in both global and regional markets.
Global Farm Tire Market Dynamic:
The treads on the farm tires with 45 degrees of inclination pattern provide the optimum traction, allowing it to travel fast through muck and soil. These are available in a variety of sizes and diameters for tractors, combine harvesters, sprayers, trailers, and skid steer loaders, among other types of equipment. These are built of high-quality rubber that will last a long time and provide greater performance on and off the field and is considered as key factor driving the demand for the product. Farm tires have a lot of ribs and voids for traction on slick surfaces. Moreover, the fuel efficiency and hillside stability of these tires have been improved. Hence, for minimum soil disruption, some tyres have diamond tread designs.
Increased demand for items with exceptional qualities, such as high puncture and wear and tear resistance, is expected to drive quality product production. Furthermore, the high production of farm tires, combined with expanding global consumption, is expected to boost the growth in the market. Rising demand for food, incremental growth in traditional farming activities, need for farm vehicles to increase the yield of the product are factors driving the demand multi tread farm tires.
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Market Scope:
This research on the Global Farm Tire industry is based on a thorough examination of the market, supported by secondary and primary sources. Market volume is determined by a country-by-country model mapping of Global Farm Tire utilizing internal and external private information, as well as relevant patent and regulatory sources.
Global Farm Tire Market Segmentation:
By product, the Farm tire market is bifurcated into bias and radial tires. In 2021, the bias tire segment dominated the market, accounting for 60% of global revenue. Bias tires are widely used in India and China as they are made from natural rubber, which is abundant in these two nations. In addition, the bias tires crosshatch structure, combined with its inexpensive price, is likely to increase demand. The cost of raw materials is cheap, which lowers the cost of making the product. The dwindling availability of natural rubber, on the other hand, is projected to limit segment expansion. The natural rubber also enhances tire rigidity, which loses homogeneity after use, jeopardizing the shelf life of bias tires.
Radial tires are made with steel ply, which promotes durability, and bead-to-bead construction at a 90-degree angle to the circumferential centerline, which increases tire flexibility and lowers rolling resistance, resulting in better performance. Over the projected term, this is likely to fuel demand for radial tires in agricultural vehicles.
Global Farm Tire Market Key Players:
• Balkrishna Industries Limited (BKT)
• Bridgestone Corporation
• Continental AG
• The Goodyear Tire & Rubber Company
• Michelin
• Mitas Tires Global Inc.
• TBC Corp.
• Titan International
• Sumitomo Rubber Industries Ltd.
• Pirelli & C. S.P.A.
• Goodyear
• Camso
• Apollo Tires
• Trelleborg Wheel Systems
• Armour Tyres
• Firestone
• Compagnie Générale des Établissements Michelin (CGEM)
• Hankook Tire
• MRF Limited
• JK Tyre & Industries Ltd.
• CEAT
• The Carlstar Group, LLC
• Specialty Tires of America, Inc.
• Alliance Tire Group (ATG)
• Trelleborg AB
A team of research professionals updates and amends our data regularly to reflect the most recent trends and facts. To fulfill the needs of both individual and corporate clients, we have substantial competence in research and consulting for a wide range of business disciplines. Our knowledgeable staff uses proprietary data sources as well as a range of additional approaches. The key players in the Global Farm Tire business are…
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Regional Analysis:
The study presents regional competitive circumstances. These insights help market participants improve their approaches and provide new opportunities to achieve amazing results.
COVID-19 Impact Analysis on Global Farm Tire Market:
The spread of the COVID-19 pandemic has had a wide-ranging influence on people’s lives all around the world. Markets have been forced to adopt new norms, trends, and tactics as a result. Essentially, the study report tries to paint a picture of the market’s initial and future projections.
Key Questions Answered in the Global Farm Tire Market Report are:
- What will be the CAGR of the Global Farm Tire market during the forecast period?
- Which segment emerged as the leading segment in the Global Farm Tire market?
- Which are the prominent players in the Global Farm Tire market?
- What will be the Global Farm Tire market size by 2027?
- Which company held the largest share in the Global Farm Tire market?
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