Agricultural Tires Market, By Tire Type, By Sales Channel, By Application, By Geography

Description

Global agricultural tires market is estimated to be valued at US$ 6.32 billion in 2024 and is expected to reach US$ 9.11 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 6.32 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	5.40%	2031 Value Projection:	US$ 9.11 Bn

Figure. Agricultural Tires Market Share (%), By Region, 2024

Global agricultural tires market is projected to witness substantial growth over the forecast period owing to rising usage of farm machinery across the globe. Agricultural tires are specifically designed tires for agricultural vehicles and farm equipment to perform in unpaved environments and endure heavy loads. These have deeper tread patterns and increased lateral stability for traction in soft soils. The growth of the agricultural sector along with the mechanization of farming practices has boosted demand for high-quality agricultural tires worldwide. Moreover, technological advancements in tire design focusing on longer lifespan, higher load capacity, and improved traction on various terrains are driving the market growth. However, high initial costs of agricultural tires and availability of counterfeit products can hamper the market growth.

Market Dynamics:

Global agricultural tires market growth is primarily driven by rising adoption of mechanized agricultural equipment for various harvesting and cultivation activities. Increasing demand for higher farm productivity and the shortage of agricultural labor are compelling farmers to rely more on mechanized farming solutions. This is positively influencing the sales of harvesters, tractors, and other machinery, thus, boosting demand for agricultural tires. Growing agriculture industry worldwide due to the mounting global population is driving the market growth. Various government initiatives and subsidies to support agricultural infrastructural development are also propelling the market growth. However, high costs of agricultural tires as compared to normal tires and increasing availability of cheap counterfeit products can hamper the market growth.

Key features of the study:

This report provides in-depth analysis of the global agricultural tires market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global agricultural tires market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Alliance Tire Group, Trelleborg AB, Balkrishna Industries Ltd., Michelin, Bridgestone Corporation, MRF Tyres Limited, Yokohama Rubber Co., Ltd., Titan International, Inc., Cheng Shin Rubber Ind. Co., Ltd. , Mitas, as, Deestone Tire & Rubber Co., Ltd., Galaxy Tire & Wheel Ltd., Sun Tyre Group Co., Ltd., Triangle Tyre Co., Ltd., ZC Rubber (SH) Co., Ltd., petlas, Greenland Tyre Co., Ltd., Trelleborg Wheel Systems Americas, Inc., Camoplast, Hinrichs Gummiwerke GmbH
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global agricultural tires market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global agricultural tires market

Market Segmentation

By Tire Type
- Bias Tires
- Radial Tires
By Sales Channel
- OEM
- Aftermarket
By Application
- Tractors
- Combine Harvesters
- Sprayers
- Trailers
- Loaders
- Others
By Regional
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Players Insights
- Alliance Tire Group
- Trelleborg AB
- Balkrishna Industries Ltd.
- Michelin
- Bridgestone Corporation
- MRF Tyres Limited
- Yokohama Rubber Co., Ltd.
- Titan International, Inc.
- Cheng Shin Rubber Ind. Co., Ltd.
- Mitas, as
- Deestone Tire & Rubber Co., Ltd.
- Galaxy Tire & Wheel Ltd.
- Sun Tyre Group Co., Ltd.
- Triangle Tyre Co., Ltd.
- ZC Rubber (SH) Co., Ltd.
- petlas
- Greenland Tyre Co., Ltd.
- Trelleborg Wheel Systems Americas, Inc.
- Camoplast
- Hinrichs Gummiwerke GmbH

Product Code: CMI5302

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Tire Type
- Market Snippet, By Sales Channel
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New system Launch/Approvals
Impact of COVID-19 Pandemic

4. Global Agricultural Tires Market, By Tire Type, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Bias Tires
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Radial Tires
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

5. Global Agricultural Tires Market, By Sales Channel, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
OEM
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Aftermarket
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

6. Global Agricultural Tires Market, By Application, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Tractors
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Combine Harvesters
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Sprayers
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Trailers
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Loaders
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

7. Global Agricultural Tires Market, By Region, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
North America
- Regional Trends
- Market Size and Forecast, By Tire Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Sales Channel, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - U.S.
  - Canada
  - Europe
- Regional Trends
- Market Size and Forecast, By Tire Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Sales Channel, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - U.K.
  - Germany
  - France
  - Russia
  - Rest of Europe
  - Asia Pacific
- Regional Trends
- Market Size and Forecast, By Tire Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Sales Channel, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
  - Latin America
- Regional Trends
- Market Size and Forecast, By Tire Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Sales Channel, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Tire Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Sales Channel, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
  - South Africa
  - GCC Countries
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Alliance Tire Group
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Trelleborg AB
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Balkrishna Industries Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Michelin
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Bridgestone Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- MRF Tyres Limited
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Yokohama Rubber Co., Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Titan International, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cheng Shin Rubber Ind. Co., Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitas, as
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Deestone Tire & Rubber Co., Ltd.
- Galaxy Tire & Wheel Ltd.
- Sun Tyre Group Co., Ltd.
- Triangle Tyre Co., Ltd.
- ZC Rubber (SH) Co., Ltd.
- petlas
- Greenland Tyre Co., Ltd.
- Trelleborg Wheel Systems Americas, Inc.
- Camoplast
- Hinrichs Gummiwerke GmbH

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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