Global Agricultural Tractor Tires Market
Likely to Grow at a CAGR of 3.52% during 2016–2022
Report
Insights
Tractor tires are key traction points in a
vehicle. Agricultural tractor tires are responsible for transmitting power from
the tractor to the field. Two types of construction technology are involved in
the manufacturing of agricultural tractor tires: radial-ply and bias-ply.
Scope
of the Report
The report considers the present scenario
of the global agricultural tractor tires market and its strategic assessment
for the period 2017–2022. It also includes a detailed study of market drivers,
trends, and restraints. The report also profiles the leading four vendors in
the market.
It provides the analysis of key segments of
the market in terms of type, construction type, geography, country, and
vendors.
It provides a detailed analysis of the revenue from the following
segments:
- Revenue
- Shipment
By
Construction Type
- Bias-ply tires
- Radial-ply tires
By
End User Type
- OEM
- Replacement
By
Geography
- APAC
- North America
- Europe
- Latin America
Agricultural
Tractor Tires Market - Market Size and Dynamics
According to the analysts at Publisher, the
global tractor tires market is likely to grow at a CAGR of 5.06% in terms of
shipment during the period 2016–2022. The demand for agricultural tractor tires
will witness a flat growth during 2017 mainly due to the growth of the
replacement market. Further, the demand for tires is strongly correlated with
the global agricultural tractors market. Also, increasing farm mechanization in
developing countries such as India, China, Thailand, and the African continent
is increasing the sale of agricultural tractors. This, in turn, is increasing
the demand for agricultural tractor tires.
The demand from replacement end-users
dominates the agricultural tractor tires market in each geography. This is
mainly due to the number of registered agriculture tractors remains lower than
the number already in use.
Radial-ply tires are the most recent ones
and are more efficient than bias-ply tires. The demand for radial-ply tires is
likely to come from developed countries such as Europe and North America, where
the demand for technical advanced tires is high.
Agricultural
Tractor Tires Market - Trends, Drivers, and Restraints
The demand for high HP tractors is
witnessed in developed geographies, especially European countries. Apart from
these region, the demand for high HP vehicle is also increasing in Latin
America, particularly Brazil and Argentina. High HP increases the demand for
technically advanced agricultural tractor tires. Mainly wide and large tires
are used in high HP vehicles. Hence, the increasing demand of high HP vehicles
is one of the key drivers of the market.
Further, growing government support is
driving the demand for agriculture tractor tires, and increasing replacement
market for the same is another major driver discussed in the report.
Today’s generation of agriculture tires are
highly engineered and are more capable of carrying more weight, efficient, and
leave less of an impact on the terrain than before. With the help of LSW
technology, the inner wheel diameter is increased while keeping the same outer
diameter. This formation improves the performance by reducing the height of the
sidewall of the tire. This shows that the advancement in agricultural tractor
tires technology is one of the latest trends, which is going to drive the
market in the upcoming years. Other emerging trends included in the report are
growing demand for green agriculture tractor tires and increasing demand for
wider agricultural tires.
Further, the report includes a detailed
study of emerging trends, factors driving the growth, and expected challenges
for the market during the period 2017–2022.
Agricultural
Tractor Tires Market - Geographical Analysis
The report includes market analysis of
different regions such as North America, Latin America, APAC, MEA, and Europe.
It outlines the major market shareholders and the market size analysis of all
regions. In terms of unit sales, in 2016, APAC was the largest market, whereas
North America and Europe contributed 14.57% and 12.01%, respectively to the
global market. The contribution of geographies will remain steady till 2022. In
2022, APAC is expected to account for more than 71% of the overall market
share, whereas the share of North America is expected to decline. However,
Africa is the fastest growing market, registering a CAGR of more than 8%,
followed by APAC during the forecast period. In terms of revenue, North America
is expected to have the largest market share in 2022.
Agricultural
Tractor Tires Market - Market Share and Key Vendors
This market research report profiles major
companies in the market and provides the competitive landscape of key players.
The report covers the entire market outlook regarding the value chain operating
in the market.
Major
players in the market include the following:
- Bridgestone
- Titan International Inc.
- Michelin
- Balkrishna
Other prominent vendors in the market
include Alliance Tire Group (ATG), CEAT, Mitas, JK Tyre, Trelleborg Wheel Systems.
Why
Should You Buy The Report?
The report offers reasonable answers to the
following questions which help you to understand the in-depth market analysis.
1. How has market been performing and what
are the major changes that are expected to alter the landscape in the coming
years?
2. What are various factors that can affect
the market in the US over the next few years?
3. What are major trends and challenges
likely to be confronted by the market in the next five years?
4. What is the market size and market
forecast for each product segment?
5. Which region in the US is going to
witness the largest market share and what are the factors propelling the market
growth in that region?
6. Which companies are the key vendors in
the market?
7. What are the strategies used by the
leading vendors, and what are key opportunities to grow?
8. Which companies are the emerging vendors
in the market?
Spanning over 145 pages “Global
Agriculture Tractor Tires Market - Strategic Assessment and Forecast 2017 -
2022” report
covers Research Methodology, Executive Summary, Report Coverage, Introduction,
Key Drivers, Key Market Trends, Key Restraints, Global Agricultural Tractor
Tires Market, Segmentation on Construction Type, Agricultural Tractor Tires
Market by End-user, Agricultural Tractor Tires Market by Geography,
Agricultural Tractor Tires Market in APAC, Agricultural Tractor Tires Market in
North America, Agricultural Tractor Tires Market in Europe, Agricultural
Tractor Tires Market in Latin America, Agricultural Tractor Tires Market in
Africa, Competitive Landscape, Key Vendor Analysis, Other Prominent Vendors,
Appendix. This report Covered Companies - Alliance Tire Group (ATG),
Balkrishna, Bridgestone, CEAT, JK Tyre, Michelin, Mitas, Titan International
Inc., Trelleborg Wheel Systems.
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