Get More Information on Ultra High-Performance Tire Market - Request Sample Report
The Agricultural Tires Market Size was valued at USD 8.62 billion in 2023 and is expected to reach USD 12.73 billion by 2031 and grow at a CAGR of 5% over the forecast period 2024-2031.
Agriculture tires, as the name implies, are intended for use on farms or in the agricultural industry. These tires have a 45-degree slanted diagonal thread. The treads give the tractor the best traction possible, allowing it to move quickly through mud and soil. These are available in a number of sizes and diameters for tractors, combine harvesters, trailers, and skid steer loaders, among other types of equipment. These are made of high-quality rubber that will last a long time and give you better results on and off the field. For traction on slick surfaces, they have a lot of ribs and spaces. These tires’ fuel efficiency and hillside stability have both been increased. Diamond tread designs are used on some tires to reduce soil disruption.
The Agricultural Tires Market faces a dynamic demand landscape, fueled by contrasting forces. Rising global populations and increasing demand for food are driving up agricultural output, translating to increased demand for tractors and other farm machinery, consequently boosting agricultural tire needs. However, concerns over soil compaction and environmental sustainability are pushing farmers towards adopting wider, low-pressure tires that reduce soil impact, leading to potentially lower overall tire demand in the long run. Additionally, technological advancements like self-driving tractors could introduce new demand patterns for specialized agricultural tires in the future.
Tractors, combine harvesters, grain carts, field sprayers, and skid steer loaders are all transported on agricultural tires. While resisting the abrasive action of varied surfaces, they provide traction, braking, steering, and directional stability. They also absorb shock loads and cushion the vehicle against small surface abnormalities at low ground pressure. As a result, they assist farmers in maximizing crop output while reducing the risk of power hopping and soil compaction for exceptional results.
KEY DRIVERS:
In agricultural equipment, technological breakthroughs have been made
Sales of farm vehicles are on the rise
The market is growing due to the introduction of low-pressure tires
The market is experiencing a notable surge, propelled by the innovative adoption of low-pressure tires. This groundbreaking advancement has ushered in a new era of efficiency and sustainability in the automotive industry. The introduction of low-pressure tires has not only revolutionized driving dynamics by enhancing comfort and traction but has also significantly reduced fuel consumption and carbon emissions. As consumers increasingly prioritize eco-friendly options, manufacturers are responding with cutting-edge technologies that not only meet but exceed expectations. This trend not only signifies a paradigm shift towards more sustainable transportation solutions but also underscores the industry's commitment to balancing performance with environmental responsibility, fostering a promising landscape for the future.
RESTRAINTS:
Changes in the design of agricultural machinery
Increased penetration into newer, uncharted territory stymies market expansion
OPPORTUNITIES:
The government's attractive subsidies serve as a catalyst for market investment
Tires with stronger rubber compounds are needed to expand penetration into newer, undiscovered terrain
Labor is cheap, and there is a lot of demand for tires
Certain agricultural practices, particularly the widespread use of agricultural vehicles, cast a shadow of negative environmental consequences over the landscape. These mechanized giants, essential for modern farming, contribute significantly to air and soil pollution. The combustion of fossil fuels in these vehicles releases greenhouse gases into the atmosphere, exacerbating climate change. Additionally, the heavy machinery can compact soil, disrupting its natural structure and reducing its ability to absorb water. This not only jeopardizes soil health but also increases the risk of erosion. As we navigate the delicate balance between feeding a growing population and preserving our planet, it becomes imperative to explore sustainable alternatives and innovations that can mitigate the environmental impact of conventional agricultural practices.
CHALLENGES:
Farm activities are weather-dependent, and commodity prices are volatile
Certain agricultural practices, such as the usage of agricultural vehicles, have negative environmental consequences
The Russia-Ukraine crisis has significant implications for global agricultural markets, including the agricultural tires market. This is because Russia and Ukraine are crucial players in the global supply of wheat, corn, and sunflower oil, which impacts the broader agricultural sector and related industries. The conflict exacerbates inflationary pressures on food and energy prices, indirectly affecting the demand for agricultural machinery and, consequently, agricultural tires. As the crisis disrupts grain exports and production, it creates volatility in commodity markets, influencing the entire agricultural value chain
The ongoing economic slowdown can impact the agricultural tires market in several ways. One significant effect is the reduced demand for agricultural machinery due to lower overall economic activity. This slowdown can lead to decreased investment in agricultural equipment by farmers, which in turn affects the demand for agricultural tires. During economic downturns, farmers may delay the purchase of new equipment or replacement tires, opting to extend the use of their current machinery and tires beyond their optimal service life. This behavior can lead to a decrease in sales for both original equipment (OE) and replacement farm tires.
However, the agricultural sector's essential nature might mitigate the slowdown's impact to some extent. The need for food production continues regardless of economic conditions, which could help sustain some level of demand for agricultural tires. Moreover, advancements in tire technology, such as the development of low-pressure tires that reduce soil compaction and improve yields, could encourage investment in newer, more efficient tires, potentially offsetting some of the negative impacts of the economic slowdown.
Based on the tire type segment, the global market has been divided into bias tires and radial tires. In the following years, the Radial Tires segment is expected to rise at a considerable CAGR. The radial tire market will be fueled by the high-performance features of radial tires combined with the low shelf life of classic bias tires.
The global market has been divided into OEM, and aftermarket based on the sales channel segment. The OEM is expected to hold the highest share and Aftermarket segment accounted for a substantial portion of the market and is expected to increase at a considerable CAGR in the following years. The factors can be ascribed to their lower cost when compared to OEM tires, the wide range of options available in the market, and the growing need to replace outdated tires with newer and better ones. The aftermarket caters to a broader range of existing vehicles, offering farmers more choice at potentially lower costs, but fostering fierce competition among tire manufacturers and distributors. This dynamic creates a complex market landscape where players must navigate strategies to balance initial sales with long-term aftermarket share and profitability.
Based on the application segment, the global market has been divided into Tractors, Sprayers, Trailers, Loaders, Combine Harvesters, and Others. The Tractors sector accounted for a substantial portion of the market and is expected to grow at a high CAGR in the future years because of the increasing use of tractors in numerous farm chores and the growing trend among farmers to invest in a vehicle that can reduce turnaround time and perform multiple duties due to their limited financial resources.
By Tire Type:
Bias Tires
Radial Tires
By Sales Channel:
OEM
Aftermarket
By Application:
Tractors
Sprayers
Trailers
Loaders
Combine Harvesters
Others
REGIONAL ANALYSIS:
North America, Europe, Asia-Pacific, and the rest of the globe make up the worldwide Agricultural Tires market. Because of advancements in farming equipment and evolution in the agricultural industry, North America will hold the highest part of the market, assisting the growth of modern-day integrated farming operations. Furthermore, due to the rapid expansion of agriculture in India and China, Asia-Pacific is now the world's second-fastest-growing region. China and India have a disproportionately large number of tractors in use around the world. As a result, they provide enormous prospects for farm tire makers. The region's leading businesses have benefited from the availability of important raw materials such as natural rubber, low labor costs, and significant local demand for tires.
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Bridgestone Corp., MRF, Continental AG, Titan International, Inc., Pirelli & C SpA, Trelleborg AB, Goodyear, Michelin, Nokian Tires PLC, Belshina, Alliance Tire Group, Euro tire, Yokohama tire, Balakrishna Industries Limited, China National Tire & Rubber, and Apollo Tires are some of the affluent competitors with significant market share in the Agricultural Tires Market.
RECENT DEVELOPMENTS:
Continental AG: Launched their largest-ever tractor tire designed for high-horsepower tractors. This tire boasts enhanced load-carrying capacity, improved traction, and reduced soil compaction, catering to the demands of modern agriculture and aiming for increased efficiency and productivity.
Apollo Tyres Ltd.: Launched a new-generation agricultural tire range called Virat, specifically designed for tractors. These tires aim to provide industry-best traction, fuel efficiency, and load-carrying capacity while minimizing soil compaction.
Balkrishna Industries Ltd. (BKT): Announced plans to invest $250 million to expand their production capacity in the United States, indicating their commitment to the growing North American market.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 8.62 Billion |
| Market Size by 2031 | US$ 12.73 Billion |
| CAGR | CAGR of 5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Tire Type (Bias Tires, Radial Tires) • by Sales Channel (OEM, Aftermarket) • by Application (Tractors, Sprayers, Trailers, Loaders, Combine Harvesters, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Bridgestone Corp., MRF, Continental AG, Titan International, Inc., Pirelli & C SpA, Trelleborg AB, Goodyear, Michelin, Nokian Tires PLC, Belshina, Alliance Tire Group, Euro tire, Yokohama tire, Balakrishna Industries Limited, China National Tire & Rubber, and Apollo Tires |
| Key Drivers | •In agricultural equipment, technological breakthroughs have been made. •Sales of farm vehicles are on the rise. |
| RESTRAINTS | •Changes in the design of agricultural machinery. •Increased penetration into newer, uncharted territory stymies market expansion. |
Ans:- The Agricultural Tires Market Size was valued at USD 8.62 billion in 2023 and is expected to reach USD 12.73 billion by 2031 and grow at a CAGR of 5% over the forecast period 2024-2031.
Ans:- The Tractor segment is expected to see the most significant growth.
Ans:- Yes.
Ans:- APAC region is anticipated to be the primary driver of the market.
Ans:- Bridgestone Corp., MRF, Continental AG, Titan International, Inc., Goodyear, Michelin, Nokian Tires PLC, Belshina, Alliance Tire Group, Euro tire, Yokohama tire, and Apollo Tires are the most prominent players in the market.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Global Agricultural Tires Market Segmentation, by Tire Type
9.1 Introduction
9.2 Trend Analysis
9.3 Bias Tires
9.4 Radial Tires
10. Global Agricultural Tires Market Segmentation, by Sales Channel
10.1 Introduction
10.2 Trend Analysis
10.3 OEM
10.4 Aftermarket
11. Global Agricultural Tires Market Segmentation, by Application
11.1 Introduction
11.2 Trend Analysis
11.3 Tractors
11.4 Sprayers
11.5 Trailers
11.6 Loaders
11.7 Combine Harvesters
11.8 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 Bridgestone Corp
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 MRF
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Continental AG
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Titan International, Inc
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Pirelli & C SpA,
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Trelleborg AB
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Goodyear
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Michelin
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Nokian Tires PLC
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Others
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Automotive Camshaft Market Size was valued at USD 5.75 Billion in 2023 and is expected to reach USD 8.24 Billion by 2032 and grow at a CAGR of 4.10% over the forecast period 2024-2032.
The Automotive Aftermarket Industry Size was valued at USD 425.25 billion in 2023 and is expected to reach USD 575.52 billion by 2031 and grow at a CAGR of 3.92% over the forecast period 2024-2031.
The Tourist Bus Market size was estimated at USD 35.89 billion in 2023 and is expected to reach USD 69.79 billion by 2032, with a growing CAGR of 7.70% over the forecast period 2024-2032.
The Automobile Logistics Market Size was USD 298.30 Billion in 2023 and will reach USD 569.53 Billion by 2032 and grow at a CAGR of 7.5% by 2024-2032.
The All-Wheel Drive Market Size grow at a CAGR of 8.70% over the forecast period 2024-2031.
The Automotive Grille Market Size was $10.32 billion in 2023 and is expected to reach USD 16.02 billion by 2032 and grow at a CAGR of 5% by 2024-2032.
Hi! Click one of our member below to chat on Phone
© 2025 All Rights Reserved by SNS Insider Pvt Ltd
