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Global Farm Tyre Market: By Product: Bias Tyre, Radial Tyre; By Application: Tractors, Harvesters, Forestry, Irrigation, Implements, Sprayers; By Distribution Channel: OEM, Aftermarket; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Farm Tyre Market Outlook
The global farm tyre market attained a value of about USD 7.8 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 5.20% to reach a value of nearly USD 10.6 billion by 2027.
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Significant Growth Attained by Bias Tyre Segment to Bolster the Growth of the Farm Tyre Industry
Based on product, the bias tyre segment accounts for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. Bias tyres are flexible and facilitate a smooth ride. The product is cost-effective as well as offers good traction at slow speeds and while travelling in a straight line, due to which its demand is significantly surging. Bias tyres are also ideal for operation in extreme conditions during farming activities, owing to their thick sidewall. Moreover, the tyres efficiently resist cuts and punctures, which is escalating their demand in the agriculture industry and invigorating the market growth. Over the forecast period, the rising awareness regarding the affordability of these types of tyres is likely to aid the overall market growth of farm tyre.
North America Accounts for a Significant Share in the Market for Farm Tyre
The farm tyre industry in North America is being driven by the growing expansion of medium and large rubber companies and the rising investments in the agriculture sector owing to the growing demand for food and grains. The market growth can also be attributed to rapid urbanisation and industrialisation, which is surging the demand for farm tyres. The increasing forestry operations aimed towards protecting the archaeological sites are likely to propel the demand for farm tyres in the forecast period. The market in the region is expected to be aided by the rising number of farm vehicles manufacturers, especially in the United States and Canada.
Farm Tyre: Market Segmentation
A farm tyre is defined as a type of tyre that is used in farm vehicles and pulls farm machinery. It provides the energy that is required for the optimal functioning of machinery. Heavy-weight, durability, low-ground densification and high-load capacity are some of the properties that can be attributed to farm tyres, due to which they are extensively used in farming applications.
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The different products of farm tyre in the market are:
- Bias Tyre
- Radial Tyre
The major applications of farm tyres include:
- Tractors
- Harvesters
- Forestry
- Irrigation
- Implements
- Sprayers
The bifurcation of market, on the basis of distribution channel, includes:
- OEM
- Aftermarket
The EMR report looks into the regional markets of farm tyre like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Applications of Farm Tyres in the Tractors to Boost the Growth of the Farm Tyre Industry
The global farm tyre industry is being driven by the rising deployment of the product in tractors. As farm tyre-enabled tractors provide the ideal amount of traction, increase the productivity of the vehicle, improve efficiency, and reduce the fuel consumption of the farm equipment, their demand is increasing, hence adding to the industry growth. The increasing sales of farm tyre-enabled tractors for farming applications are expected to propel the market growth in the forecast period. The market is also anticipated to be augmented by the growing adoption of lawn tractors and the introduction of different types of harvesters to cope with the specific farming requirement. The significant growth attained by commercial farming and subsistence farming is likely to provide impetus to the market in the coming years.
Key Industry Players in the Global Farm Tyre Market
The report gives a detailed analysis of the following key players in the global farm tyre market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Balkrishna Industries Limited
- Bridgestone Corporation
- Continental AG
- Michelin
- Titan International, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Application, Distribution Channel, Region |
| Breakup by Product | Bias Tyre, Radial Tyre |
| Breakup by Application | Tractors, Harvesters, Forestry, Irrigation, Implements, Sprayers, |
| Breakup by Distribution Channel | OEM, Aftermarket |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Michelin, Titan International, Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Farm Tyre Market Analysis
8.1 Key Industry Highlights
8.2 Global Farm Tyre Historical Market (2017-2021)
8.3 Global Farm Tyre Market Forecast (2022-2027)
8.4 Global Farm Tyre Market by Product
8.4.1 Bias Tyre
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Radial Tyre
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global Farm Tyre Market by Application
8.5.1 Tractors
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Harvesters
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Forestry
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Irrigation
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.5.5 Implements
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2017-2021)
8.5.5.3 Forecast Trend (2022-2027)
8.5.6 Sprayers
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2017-2021)
8.5.6.3 Forecast Trend (2022-2027)
8.6 Global Farm Tyre Market by Distribution Channel
8.6.1 OEM
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Aftermarket
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.7 Global Farm Tyre Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Balkrishna Industries Limited
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Bridgestone Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Continental AG
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Michelin
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Titan International, Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Farm Tyre Market: Key Industry Highlights, 2017 and 2027
2. Global Farm Tyre Historical Market: Breakup by Product (USD Million), 2017-2021
3. Global Farm Tyre Market Forecast: Breakup by Product (USD Million), 2022-2027
4. Global Farm Tyre Historical Market: Breakup by Application (USD Million), 2017-2021
5. Global Farm Tyre Market Forecast: Breakup by Application (USD Million), 2022-2027
6. Global Farm Tyre Historical Market: Breakup by Distribution Channel (USD Million), 2017-2021
7. Global Farm Tyre Market Forecast: Breakup by Distribution Channel (USD Million), 2022-2027
8. Global Farm Tyre Historical Market: Breakup by Region (USD Million), 2017-2021
9. Global Farm Tyre Market Forecast: Breakup by Region (USD Million), 2022-2027
10. North America Farm Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
11. North America Farm Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Europe Farm Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
13. Europe Farm Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Asia Pacific Farm Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
15. Asia Pacific Farm Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Latin America Farm Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
17. Latin America Farm Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Middle East and Africa Farm Tyre Historical Market: Breakup by Country (USD Million), 2017-2021
19. Middle East and Africa Farm Tyre Market Forecast: Breakup by Country (USD Million), 2022-2027
20. Global Farm Tyre Market Structure
Key Questions Answered in the Report
In 2021, the global farm tyre market attained a value of nearly USD 7.8 billion.
The market is estimated to grow at a CAGR of 5.20% between 2022 and 2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 10.6 billion by 2027.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising demand for bias tyres and the increasing cost-effectiveness of farm tyres.
The rising deployment of farm tyres in tractors used in farming, the increasing farming activities, and the growing commercial farming activities are expected to be the key trends guiding the growth of the industry.
Bias tyre and radial tyre are the major products of farm tyre in the market.
Tractors, harvesters, forestry, irrigation, implements, and sprayers, are the different application of farm tyre.
The significant distribution channels of farm tyre are OEM and aftermarket.
The major players in the industry are Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Michelin, and Titan International, Inc., among others.
Analyst Review
The global farm tyre market attained a value of about USD 7.8 billion in 2021, driven by the growing preference for bias tyres. Aided by the rising demand for farm tyres from tractors used in farming, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 5.20%. The market is projected to reach nearly USD 10.6 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on products, the farm tyre industry is divided into bias tyre and radial tyre. On the basis of application, the market is segmented into tractors, harvesters, forestry, irrigation, implements, and sprayers. By distribution channels, the market is bifurcated into OEM and aftermarket. The major regional markets for farm tyre are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Balkrishna Industries Limited, Bridgestone Corporation, Continental AG, Michelin, and Titan International, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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