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| Market size in 2024 | US$ 5.62 billion |
Forecast Market size by 2030 | US$ 7.35 billion |
|---|---|---|---|
| Growth Rate | CAGR of 4.6% | Number of Pages | 137 Pages |
The global Agriculture Tractor Tyres market size was valued at US$ 5.62 billion in 2024 and is projected to reach US$ 7.35 billion by 2030, at a CAGR of 4.6% during the forecast period 2024-2030.
The United States Agriculture Tractor Tyres market size was valued at US$ 1.23 billion in 2024 and is projected to reach US$ 1.54 billion by 2030, at a CAGR of 3.8% during the forecast period 2024-2030.
Agriculture Tractor Tyres are specialized rubber tires designed for use on agricultural tractors, providing traction, stability, and flotation in various soil conditions while minimizing soil compaction and supporting heavy loads.
The global Agriculture Tractor Tyres market is growing steadily, driven by increasing mechanization in agriculture, rising food demand, and technological advancements in tire design. In 2023, global production of agriculture tractor tyres reached approximately 42 million units, with Asia-Pacific accounting for 45% of demand, followed by Europe and North America. The medium-power tractor segment remains the largest consumer, representing 50% of demand, followed by high-power tractors at 30% and compact tractors at 20%. The market benefited from government initiatives promoting farm mechanization in developing countries, leading to a 8% increase in tractor sales and consequently, tyre demand in 2023. Technological advancements have focused on improving traction, reducing soil compaction, and enhancing durability, with new tire designs offering up to 20% better traction and 15% lower soil compaction compared to 2020 models. The market is witnessing strong growth in radial tires for agriculture tractors, increasing at 7% annually, driven by their superior performance and fuel efficiency benefits. In 2023, the trend towards precision agriculture led to a 15% increase in the adoption of VF (Very High Flexion) tires capable of supporting heavier loads at lower inflation pressures.
The industry faces challenges from the cyclical nature of the agricultural economy and fluctuating raw material prices, but ongoing innovations in tire technology and the critical nature of mechanized farming continue to drive demand. Emerging applications in autonomous and electric tractors are showing promise, with specialized tires for these next-generation vehicles growing at 20% CAGR, albeit from a small base of 2% market share. Looking ahead, the market is expected to benefit from the development of smart, connected tires with integrated sensors for real-time performance monitoring and optimization, projected to grow at 12% CAGR through 2030.
Report Overview This report provides a deep insight into the global Agriculture Tractor Tyres market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc. The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Agriculture Tractor Tyres Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market. In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Agriculture Tractor Tyres market in any manner. Global Agriculture Tractor Tyres Market: Market Segmentation Analysis The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments. Key Company Michelin Bridgestone Titan International Pirelli Trelleborg AGT BKT Mitas Sumitomo Nokian Harvest King J.K. Tyre Carlisle Specialty Tires Delta CEAT Market Segmentation (by Type) Radial Agriculture Tires Bias (Crossply) Agriculture Tires Market Segmentation (by Application) Corn Wheat Rice Other Geographic Segmentation North America (USA, Canada, Mexico) Europe (Germany, UK, France, Russia, Italy, Rest of Europe) Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific) South America (Brazil, Argentina, Columbia, Rest of South America) The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA) Key Benefits of This Market Research: Industry drivers, restraints, and opportunities covered in the study Neutral perspective on the market performance Recent industry trends and developments Competitive landscape & strategies of key players Potential & niche segments and regions exhibiting promising growth covered Historical, current, and projected market size, in terms of value In-depth analysis of the Agriculture Tractor Tyres Market Overview of the regional outlook of the Agriculture Tractor Tyres Market: Key Reasons to Buy this Report: Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change This enables you to anticipate market changes to remain ahead of your competitors You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly Provision of market value (USD Billion) data for each segment and sub-segment Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions Includes in-depth analysis of the market from various perspectives through Porter
| Report Attributes | Report Details |
|---|---|
| Report Title | Global Agriculture Tractor Tyres Market Research Report 2024(Status and Outlook) |
| Market size in 2024 | US$ 5.62 billion |
| Forecast Market size by 2030 | US$ 7.35 billion |
| Growth Rate | CAGR of 4.6% |
| Historical Year | 2018 to 2022 (Data from 2010 can be provided as per availability) |
| Base Year | 2023 |
| Forecast Year | 2031 |
| Number of Pages | 137 Pages |
| Customization Available | Yes, the report can be customized as per your need. |
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