Fact.MR estimates that the farm tires market would be worth US$ 8.2 billion in 2023 and US$ 14 billion by the end of 2033. Farm tyre sales are anticipated to grow globally between 2023 and 2033 at a CAGR of 5.5%.
As more farms become less reliant on labour, it is anticipated that tractor sales will increase significantly over the next several years, which will increase demand for tractor tyres throughout the course of the projection period. Tractors, harvesters, and sowers are just a few of the farm equipment and vehicles that employ farm tires, also known as agricultural tyres. Crop productivity has increased dramatically as a result of the use of cutting-edge machinery in agriculture. Consequently, agricultural machinery is being used by an increasing number of farmers and producers.
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Market Titans
- Michelin
- Bridgestone Corporation
- Titan International, Inc.
- Continental AG
- TBC Corporation
- Mitas Tires
- Apollo Tyres Ltd.
- CEAT
- The Carlstar Group
- Trelleborg AB
Key findings of the Farm Tires market study:
• The report provides a present market outlook on Farm Tires. Additionally, the Farm Tires market share is anticipated to grow with a CAGR of 5.5% in the forecast period.
• Regional breakdown of the Farm Tires market based on predefined taxonomy.
• Innovative manufacturing processes implemented by Farm Tires vendors in detail.
• Region-wise and country-wise fragmentation of the Farm Tires market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Farm Tires market.
• Farm Tires price, market share, and Trends forecast for assessment period 2023-2033
Competitive landscape analysis
Key farm tire producers are making significant R&D investments to diversify their product offerings. They are focusing on product standards, contractual agreements, quality control, supply chain management, and collaborations with other organizations to make a mark in this industry.
For instance,
In 2020, Michelin unveiled the TRAILXBIB, a brand-new agricultural tire for slurry wagons, spreaders, and trailers. It is engineered for exceptional endurance, longer tire life, and less soil compaction.
Industry Research
• By Product Type :
o Bias Tires
o Radial Tires
• By Application :
o Tractors
o Combine Harvesters
o Sprayers
o Trailers
o Loaders
o Others
• By Sales Channel :
o OEMs
o Aftermarket
• By Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa
Key Highlights
- Sales of Farm tires In 2022
- Competitive Analysis of Farm tires
- Demand Analysis of Farm tires
- Key Trends of Farm tires
- Outlook of Farm tires
- Insights of Farm tires
- Analysis of Farm tires
- Survey of Farm tires
- Size of Farm tires
The global farm tires market report answers numerous pertinent questions, some of which are:
- What are some of the latent areas of investments in the market?
- Which region is expected to emerge as showing the most attractive growth rate during the forecast period and which factors will be crucial to its growth?
- What trends are likely to change the status quo of the positions held by leading players of the market in the not-so-distant future?
- Which product/service/technology segments holds game-changing potential to dramatically shape the competitive dynamic in the market?
- What are the strategies adopted by top players to retain their stronghold in the market?
- Which strategic moves will new entrants adopt to gain a strong foothold in the market?
- What are COVID-19 implications on the market and learn how businesses can respond, manage, and mitigate the risks?
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