Agriculture Tire Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “ Agriculture Tire Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Agriculture Tire market, with forecasts outspreading to the year 2029.
Estimated Growth Rate for Agriculture Tire Market:
The market, which was estimated to be worth US$ 8.34 billion in 2022, is anticipated to expand at a compound annual growth rate (CAGR) of 5.51% from 2023 to 2029. This growth is attributed to the increasing trend of farm vehicle use, which has increased demand for agricultural tires.
Agriculture Tire Market Scope and Methodology:
The Agriculture Tire market research offers in-depth details on important factors, such as those anticipated to fuel the industry's expansion and impending challenges. Stakeholders will have a solid understanding of the industry's competitive landscape, the products pushed by well-known brands, and the investment potential in the Agriculture Tire market. Both the qualitative and quantitative aspects of the industry are covered in the study. The MMR investigation's purview includes a thorough analysis of the competition for the Agriculture Tire Market.
Many additional requirements, each with a detailed reason, are included in the study. In order to build the Agriculture Tire Market, a wide range of primary and secondary sources of information were taken into consideration, including government documents, websites, yearly reports, and expert and professional opinions.
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Agriculture Tire Market Regional Insights:
The market size, growth rate, import and export by region, and other relevant statistics are all thoroughly analyzed in this study. The regional analysis of the research makes it easy to understand the Agriculture Tire market situations in different countries. The markets in Latin America, Africa, Asia Pacific, North America, and the Middle East make up the Agriculture Tire market.
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Agriculture Tire Market Segmentation:
by Tire Type
Radial tire
Bias tire
Bias and radial tires are the two tire types that make up the agricultural tire market, with bias tires holding a dominant share. A bias tire that is more load-bearing than a radial tire is built upon a foundation of layers of cloth arranged diagonally. The countries with a higher population, such as China and India, are the highest consumers of agricultural equipment, so boosting the agricultural tire market. These countries' load-bearing capacities are equipped in agricultural vehicles such as tractors, trailers, sprayers, manual seeders, fruit pickers, etc. By 2027, it is anticipated that bias tire production would have reached 2900 million worldwide.
by Application
Tractor
Harvestor
Loader
Tractor, harvester, and loader are the application-based segments of the agriculture tire market. In 2020, 15.6 lakh tractors will be produced worldwide, with 2.8 lakh harvesters and 1.8 lakh loaders coming in second and third, respectively. With 8.9 lakh tractors produced in 2020, India will be the world's largest tractor producer, accounting for 26% of the market. Population growth, the younger generation's interest in agriculture, government subsidies, and the convenience of farming activities itself are drawing agricultural equipment manufacturers from all over the world. so nations with large populations have a greater need for agricultural tires.
by Sales Channel
After market
OEM
Based on OEM and aftermarket, the agriculture tire industry is divided. Because they are inexpensive, relieve farmers of some of their expenses, and come in a wide variety of brand-based possibilities, aftermarket tires are highly sought after and can be easily obtained both online and offline. About 56% of the market is made up of aftermarket tires. Farmers are having trouble making purchases when their warranties expire since OEMs are more expensive.
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Agriculture Tire Market Key Players:
1. Bridgestone
2. Alliance Tire Companys
3. Birla Tires
4. Titan Tire Corporation
5. Belshina
6. Appolo Tires Ltd
7. Cooper Tires
8. Nokian Tires Group
9. CEAT
10.Triangle Group
11.Nokian tires plc
12.Giti Tires
13.Kumho Tires
14.Hankook tire
15.Fate
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/agriculture-tire-market/128476/
Key questions answered in the Agriculture Tire Market are:
- What is Agriculture Tire ?
- What was the Agriculture Tire market size in 2022?
- What is the growth rate of the Agriculture Tire Market?
- Which are the factors expected to drive the Agriculture Tire market growth?
- What is the CAGR at which the Agriculture Tire market will grow during the forecast period?
- What are the different segments of the Agriculture Tire Market?
- Which is the fastest growing region in the Agriculture Tire market?
- What growth strategies are the players considering to increase their presence in Agriculture Tire ?
- What are the upcoming opportunities and trends for the Agriculture Tire Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Agriculture Tire Market?
- Who are the leading companies and what are their portfolios in Agriculture Tire Market?
- What segments are covered in the Agriculture Tire Market?
- Who are the key players in the Agriculture Tire market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Maximize Market Research:
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