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Global Farm Tyre Market Analysis, Report, Forecast, Outlook: By Product: Bias Tyre, Radial Tyre; By Application: Tractors, Harvesters, Forestry, Irrigation, Implements, Sprayers; By Distribution Channel: OEM, Aftermarket; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Farm Tyre Market Outlook
The global farm tyre market size reached approximately USD 8.63 billion in 2023. The market is projected to grow at a CAGR of 5.20% between 2024 and 2032, reaching a value of around USD 13.66 billion by 2032.
Key Takeaways
- Technologies such as IF/VF, which allow tyres to operate under lower pressure for reduced soil compaction, are gaining traction.
- There is a rise in the development of tyres using eco-friendly materials and production processes due to sustainability concerns.
- With growing mechanisation in emerging regions like Asia, Africa, and South America, these markets are becoming increasingly important.
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. Heavyweight, durability, low ground densification, and high load capacity are some of the properties of farm tyres due to which they are extensively used in farming applications.
There is a global trend towards increased mechanisation in farming operations to enhance productivity and efficiency. This shift is one of the major factors driving the farm tyre market growth as agricultural tyres can perform in various soil conditions and farming environments. With the world population growing, there is an increasing demand for food production and this pressure is pushing the agricultural sector to maximise crop yields, driving the need for efficient farming practices supported by reliable agricultural tyres. Moreover, governmental support for agriculture, through subsidies for agricultural machinery and inputs, also influences the market positively.
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Key Trends and Developments
Sustainability and eco-friendly materials; growth in precision agriculture; Increased Flexion (IF) and Very High Flexion technology (VF); and adoption of smart tyre technologies are the major trends impacting the farm tyre market expansion
| Date | Company | Event |
| Oct 2023 | Continental | Announced expansion of its agricultural tyre lineup, the TractorMaster and CompactMaster AG/EM series, in response to the increasing demand for larger agricultural machinery. |
| Aug 2023 | TVS Eurogrip Tyres | Showcased its latest range of innovative agricultural radial tyres at the Farm Progress Show 2023, aiming to meet the modern demands of the agricultural sector. |
| May 2023 | Yokohama Off-Highway Tires (YOHT) | Launched new AGRI STAR II R – I agricultural tyres in India, featuring an innovative 'Stratified Layer Technology' (SLT) |
| May 2022 | Apollo Tyres | Introduced a new generation of agricultural tyres, the Virat range, signifying the company’s expansion into advanced agricultural tyre technology. |
| Trends | Impact |
| Sustainability and eco-friendly materials | There is a growing emphasis on sustainability within the farm tyre market, with manufacturers investing in eco-friendly materials and production processes. |
| Growth in precision agriculture | The integration of precision agriculture technologies necessitates the use of advanced farm tyres that can support the enhanced capabilities of GPS-guided tractors, and drones. |
| Increased Flexion (IF) and Very High Flexion technology (VF) | Innovative technologies such as IF and VF are becoming popular as they allow tyres to carry more load at lower air pressure compared to standard tyres. |
| Adoption of smart tyre technologies | Smart tyre technologies, including sensors embedded within tyres to monitor pressure, temperature, and wear, are on the rise. |
Farm Tyre Market Trends
The trend towards sustainability in the market reflects a broader shift within the agricultural sector and manufacturing sectors towards environmental responsibility and resource efficiency. Manufacturers are exploring and incorporating renewable, bio-based materials into tyre construction as opposed to solely relying on traditional petroleum-based rubber and synthetic materials. For example, the use of natural rubber from sustainably managed rubber plantations, bio-based fillers, and other renewable materials reduces dependence on non-renewable resources and lowers the carbon footprint associated with tyre production.
Additionally, increasing research and development activities to address challenges and improve tyre performance are expected to support the market growth. In May 2023, Yokohama Off-Highway Tires (YOHT) introduced their latest agricultural tye, the AGRI STAR II R – I to the Indian market, highlighting a groundbreaking 'Stratified Layer Technology' (SLT). This technology effectively ensures that the tyre's traction, performance, and efficiency are maintained throughout its lifespan, even as it wears. It addresses a common challenge in agricultural tires: maintaining optimal performance as the tire tread wears down, which is critical for operations that require consistent traction and efficiency in various soil conditions.
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Market Segmentation
“Farm Tyre Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Product | Bias Tyre, Radial Tyre |
| Application | Tractors, Harvesters, Forestry, Irrigation, Implements, Sprayers |
| Distribution Channel | OEM, Aftermarket |
| Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Bias tyre accounts for a substantial farm tyre market share owing to its cost-effectiveness and ease of traction
The bias tyre segment accounts for a significant share of the market as bias tyres are flexible and facilitate a smooth ride. These tyres are cost-effective as well and offer 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 sector and invigorating market growth. Over the forecast period, the rising awareness regarding the affordability of these types of tyres is likely to support their demand.
Radial tyres are also anticipated to witness a robust growth in the forecast period. Radial tyres are constructed with steel belts running at a 90-degree angle to the direction of travel, which significantly enhances their durability and lifespan. This construction allows for better distribution of stresses and heat dissipation, reducing wear and tear over time. For farmers, this means lower replacement costs and decreased downtime, directly impacting the economic efficiency of their operations.
Tractors maintain their dominance in the market due to their increased usage in farming applications
Tractors are widely used to perform various agricultural activities, and farm tyres are an essential component in this machinery. 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. The farm tyre market benefits from the increasing sales of farm tyre-enabled tractors for farming applications as well as the growing adoption of lawn tractors and the introduction of different types of harvesters to cope with specific farming requirements. The significant growth attained by commercial farming and subsistence farming also provides impetus to the segment.
Harvesters are also anticipated to contribute to the farm tyre market expansion in the coming years, as they are essential machinery in the agricultural sector, used for gathering mature crops from the fields. Their importance in ensuring efficient and timely harvesting operations directly impacts a farm's productivity and profitability. Harvesters operate under heavy loads, often in challenging conditions that include wet and muddy fields, which further demand tyres with excellent traction, durability, and resistance to punctures and other damage.
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Competitive Landscape
The market players are expanding their agricultural product line featuring high-end tyres to gain a competitive edge in the market
| Company | Founding Year | Headquarters | Products |
| Balkrishna Industries Limited | 1987 | Mumbai, India | Off-highway tyres |
| Bridgestone Corporation | 1931 | Tokyo, Japan | Tyres and rubber products |
| Continental AG | 1871 | Hanover, Germany | Passenger and commercial vehicle tyres, industrial tyres, and bicycle tyres |
| Michelin | 1889 | Clermont-Ferrand, France | Tyres for commercial and agricultural vehicles |
Other major players in the farm tyre market include Titan International, Inc., among others. Key players are mainly engaging in a variety of strategic actions to navigate the competitive landscape, address the evolving needs of the agricultural sector, and capitalise on emerging opportunities.
Farm Tyre Market Analysis by Region
The market in North America is driven by the 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 favour the market growth. Furthermore, the market is expected to be aided by the rising number of farm vehicle manufacturers, especially in the United States and Canada.
The Asia Pacific farm tyre market is expected to witness a robust growth in the foreseeable future. The region is undergoing rapid mechanisation of its agricultural sector. Countries that have traditionally relied on manual labour are increasingly adopting modern agricultural machinery, including tractors, harvesters, and irrigation systems, to improve productivity and efficiency. This transition is a primary driver for the increased demand for farm tyres, as more machinery in use directly translates to a higher need for tyres.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Farm Tyre Market Analysis
8.1 Key Industry Highlights
8.2 Global Farm Tyre Historical Market (2018-2023)
8.3 Global Farm Tyre Market Forecast (2024-2032)
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 (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Radial Tyre
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Farm Tyre Market by Application
8.5.1 Tractors
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Harvesters
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Forestry
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Irrigation
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Implements
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Sprayers
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
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 (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Aftermarket
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Farm Tyre Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America Farm Tyre Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Farm Tyre Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Farm Tyre Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Farm Tyre Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Farm Tyre Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Balkrishna Industries Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Bridgestone Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Continental AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Michelin
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Titan International, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Farm Tyre Market: Key Industry Highlights, 2018 and 2032
2. Global Farm Tyre Historical Market: Breakup by Product (USD Million), 2018-2023
3. Global Farm Tyre Market Forecast: Breakup by Product (USD Million), 2024-2032
4. Global Farm Tyre Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Farm Tyre Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Farm Tyre Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
7. Global Farm Tyre Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
8. Global Farm Tyre Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Farm Tyre Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Farm Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Farm Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Farm Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Farm Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Farm Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Farm Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Farm Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Farm Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Farm Tyre Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Farm Tyre Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Farm Tyre Market Structure
Key Questions Answered in the Report
In 2023, the global farm tyre market attained a value of nearly USD 8.63 billion.
The market is estimated to grow at a CAGR of 5.20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 13.66 billion by 2032.
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.
Bias tyre and radial tyre are the major products of farm tyre in the market.
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.
The significant distribution channels of farm tyre are OEM and aftermarket.
The major players in the market 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 8.63 billion in 2023, 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 2024-2032, growing at a CAGR of 5.20%. The market is projected to reach nearly USD 13.66 billion by 2032.
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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