Agricultural Tires Market Size, Share & Growth Report | 2031

Segments - Agricultural Tires Market by Types (Bias Tires and Radial Tires), Applications (Tractors, Combine Harvesters, Sprayers, Trailers, Loaders, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031

Author : Akash Vedpathak

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

Agricultural Tires Market Outlook 2031:

The global agricultural tires market size size was valued at USD 8.26 Billion in 2022 and is expected to reach USD 12.81 Billion by 2031 projected to expand at a CAGR of 5% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising demand for farm tires in agricultural vehicles.

Agriculture tires have deep tread pattern designed for tractors and other agricultural vehicles in order to provide additional grip during off-road operations or on non-paved routes such as sand, mud, dirt, or gravel, With the constant demand for higher and better agricultural yields to feed the world's growing population, a surge in demand for highly productive and efficient agricultural technology & equipment has grown exponentially.

Agriculture tires, unlike winter tires, do not have studs inserted in them, while they have broader grooves that let them to sink into mud or gravel for increased traction. Over the last decade, the worldwide farm tire industry has grown at a rapid rate. Increased utility across a variety of end-use areas, such as mining, construction, and farming, is expected to create a positive impact on the market.

Agricultural Tires Market Trends, Drivers, Restraints, and Opportunities

Increasing demand for efficient and productive agricultural machinery is projected to drive the market growth.
The COVID-19 pandemic negatively impacted the supply chain, hindering the market growth. However, restriction on relaxations on the manufacturing operations is expected to help the market recover by end of 2021.
Development of radial tires is anticipated to create immense opportunities for the market players.

Scope of Agricultural Tires Market Report

The report on the global agricultural tires market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Agricultural Tires Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Bias Tires and Radial Tires) and Applications (Tractors, Combine Harvesters, Sprayers, Trailers, Loaders, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Bridgestone Corporation (Firestone); Titan International Inc. (Goodyear Tires); BKT; Continental Reifen Deutschland GmbH; and Michelin

Agricultural Tires Market Segment Insights:

Radial tires segment to hold a major market share

Based on types, the market is segregated into bias tires and radial tires. The radial tires is anticipated to dominate the market segment. Radial tires are made with steel ply, which promotes durability, and bead-to-bead construction at a 90° angle to the circumferential centerline.

This, in turn, increases tire flexibility and lowers rolling resistance, resulting in better performance. Over the projected timeline, these factors are expected to fuel demand for radial tires in agricultural vehicles.

In a bias tire, a single ply is wrapped diagonally from one side of the tire to the other in a bias tractor tire. This means that as the tire flexes, the face or tread deforms, causing the tire to wear faster and more unevenly. This segment is anticipated to grow at a sluggish rate during the forecast period.

Tractor segment to exhibit a high CAGR

On the basis of applications, the agricultural tires market is divided into tractors, combine harvesters, sprayers, trailers, loaders, and other application types. The tractors segment accounted for more than 40% of the market share in 2020, in terms of revenue. High-horsepower tractors owing to its utility in a variety of farming tasks.

The introduction of numerous types of harvesters to fit farming requirements is estimated to increase demand for farm tires in the harvesters segment..

Asia Pacific is projected to hold a significant market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. In 2020, the Asia Pacific farm tires market dominated the global market, accounting for more than 35% of total sales. This is due to a number of factors, including rising population, increasing middle-class discretionary income, and rapid industrialization and urbanization.

Furthermore, the presence of both small and large-scale producers in the region is expected to help in market expansion. The manufacturing technology and materials used to make bias tires ensure high load capacities at a low cost. Natural rubber is the most common raw material used to make bias tires. As a result, the ample availability of natural rubber in Asia Pacific countries such as Thailand, India, Vietnam, Indonesia, China, and Malaysia is expected to stimulate demand for bias tires in the region.

Segments

The global agricultural tires market is segmented on the basis of

Types

Bias Tires
Radial Tires

Applications

Tractors
Combine Harvesters
Sprayers
Trailers
Loaders
Other Application Types

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Bridgestone Corporation (Firestone)
Titan International Inc. (Goodyear Tires)
BKT
Continental Reifen Deutschland GmbH
Michelin

Competitive Landscape

The major players in the agricultural tires market include Bridgestone Corporation (Firestone), Titan International Inc. (Goodyear Tires), BKT, Continental Reifen Deutschland GmbH, Michelin.

Companies are engaging in mergers, acquisitions and partnerships to expand their market share. Small-scale players focus on the country or region in which they operate and compete on the basis of product differentiation by offering innovative products. They also compete based on regional demand and market penetration in regional markets. Many regional players pursue an expansion strategy by partnering with global players as a distribution partner.

Agricultural Tires Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Agricultural Tires Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Agricultural Tires Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Agricultural Tires Market - Supply Chain
  4.5. Global Agricultural Tires Market Forecast
     4.5.1. Agricultural Tires Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Agricultural Tires Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Agricultural Tires Market Absolute $ Opportunity
5. Global Agricultural Tires Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Agricultural Tires Market Size and Volume Forecast by Types
     5.3.1. Bias Tires Radial Tires
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Agricultural Tires Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Agricultural Tires Market Size and Volume Forecast by Applications
     6.3.1. Tractors Combine Harvesters Sprayers Trailers Loaders Other Application Types
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Agricultural Tires Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Agricultural Tires Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Agricultural Tires Demand Share Forecast, 2019-2026
8. North America Agricultural Tires Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Agricultural Tires Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Agricultural Tires Market Size and Volume Forecast by Types
     8.4.1. Bias Tires Radial Tires
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Agricultural Tires Market Size and Volume Forecast by Applications
     8.7.1. Tractors Combine Harvesters Sprayers Trailers Loaders Other Application Types
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Agricultural Tires Demand Share Forecast, 2019-2026
9. Latin America Agricultural Tires Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Agricultural Tires Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Agricultural Tires Market Size and Volume Forecast by Types
     9.4.1. Bias Tires Radial Tires
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Agricultural Tires Market Size and Volume Forecast by Applications
     9.7.1. Tractors Combine Harvesters Sprayers Trailers Loaders Other Application Types
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Agricultural Tires Demand Share Forecast, 2019-2026
10. Europe Agricultural Tires Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Agricultural Tires Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Agricultural Tires Market Size and Volume Forecast by Types
     10.4.1. Bias Tires Radial Tires
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Agricultural Tires Market Size and Volume Forecast by Applications
     10.7.1. Tractors Combine Harvesters Sprayers Trailers Loaders Other Application Types
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Agricultural Tires Demand Share Forecast, 2019-2026
11. Asia Pacific Agricultural Tires Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Agricultural Tires Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Agricultural Tires Market Size and Volume Forecast by Types
     11.4.1. Bias Tires Radial Tires
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Agricultural Tires Market Size and Volume Forecast by Applications
     11.7.1. Tractors Combine Harvesters Sprayers Trailers Loaders Other Application Types
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Agricultural Tires Demand Share Forecast, 2019-2026
12. Middle East & Africa Agricultural Tires Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Agricultural Tires Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Agricultural Tires Market Size and Volume Forecast by Types
     12.4.1. Bias Tires Radial Tires
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Agricultural Tires Market Size and Volume Forecast by Applications
     12.7.1. Tractors Combine Harvesters Sprayers Trailers Loaders Other Application Types
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Agricultural Tires Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Agricultural Tires Market: Market Share Analysis
  13.2. Agricultural Tires Distributors and Customers
  13.3. Agricultural Tires Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Bridgestone Corporation (Firestone) Titan International Inc. (Goodyear Tires) BKT Continental Reifen Deutschland GmbH Michelin