PUBLISHER: Grand View Research | PRODUCT CODE: 1631155
PUBLISHER: Grand View Research | PRODUCT CODE: 1631155
The Asia Pacific farm tire market size is expected to reach USD 5.50 billion by 2030, according to a new report by Grand View Research Inc. It is anticipated to expand at a CAGR of 6.9% from 2025 to 2030. Increasing the adoption of machinery and specialty vehicles in farm activities is expected to drive the demand for farm tires in the coming years. Moreover, growing agricultural activities in the region are likely to support market growth.
Commercial availability of the bias and radial tires along with a rise in the production of farm vehicles has provided the market with a wide scope. The automobile industry in the Asia Pacific is primarily driven by auto manufacturers located in India and China. Moreover, the introduction of specialty farm vehicles by foreign multinationals has supported product demand.
Tractors, harvesters, forestry vehicles, irrigation machinery, implements, and sprayers are the major applications of farm tires. Growing preference for agricultural activities in the region along with the introduction of tractors in varied sizes is expected to augment the demand for farm tires. Moreover, the periodic maintenance and replacement cycle of these vehicles are likely to support the demand over the forecast period.
Leading farm tire manufacturers are aiming at expanding the production capacities to meet the demand. They are also focusing on the introduction of tires of standard dimensions and custom size in light of new innovations in farm vehicles. Prominent players in the market are Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Michelin, and MRF Limited among others.