The Agriculture Tires Market is segmented, by Application Type (Tractors, Harvesters, and Others), Tire Type (Radial Tires and Bias Tires), End-User Type (OE and Aftermarket), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Turkey, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, South Africa, and Others]).

Market Dynamics

The rising global population has increased the demand for food products, prompting the agriculture industry to improve productivity, resulting in an increase in the use of various agricultural machines.

Tractors, harvesters, cotton pickers, and sprayers are the major agricultural machinery that employ agricultural tires.

The market for agricultural tires is growing at a steady pace, given the rising demand for agricultural machinery and equipment.

Attractive subsidies for agriculture machinery by some governments work as a catalyst for the market’s growth

Growing adoption of advanced farming technologies and an increased need for heavy-duty tires are likely to drive the agriculture tires market in the coming years.

Currently, the majority of work is done in the fields with agricultural machinery, and the use of low-pressure tires for better operational efficiency, reduces the life of off-road tires, necessitating tire replacement on a regular basis. This is expected to drive the growth of the global agriculture tires market throughout the forecast period. As a result of digital advancements, increased sales of agricultural vehicles, and technological developments in agricultural equipment, the market is undergoing tremendous transformation. The agriculture tires market witnessed an increase of 2.4% in 2020.

Key Players

Owing to a well-established supply chain and moderate technological requirements, presence of a large number of players serving the industry, the market is fragmented with major players holding a smaller part of the market. The following are the key players in the agriculture tires market.

• Balkrishna Industries Limited (BKT)
• Bridgestone Corporation
• Carlisle Companies Incorporated
• Compagnie Generale Des Etablissements Michelin S.C.A.
• Continental AG
• Goodyear Tire and Rubber Company
• JK Tyre & Industries
• MRF Tyres
• Trelleborg AB
• Yokohama Rubber Co. Ltd.

COVID-19 Impact

As the tires market is closely linked to both the OE and aftermarket levels, it suffered significant losses due to lockdowns; a number of manufacturing units were temporarily shut down in order to limit the spread of COVID-19. However, the long-term result is expected to be fruitful.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

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