Agriculture Tire Market Key Players, Trends, Growth
Opportunities and Industry Forecast till 2023
“The factors that propel the growth of the market include
growing demand for agricultural equipment and
machinery, rapid industrialization and urbanization,
developments in farming techniques, and consciousness
among farmers in emerging countries.”
Global agriculture tire market is anticipated to witness an exponential growth in the forecast period. Agriculture
tires, as the name suggests, are designed for agricultural vehicles and machinery including sowers, tractors, and
harvesters. The factors that propel the growth of the market include growing demand for agricultural equipment
and machinery, rapid industrialization and urbanization, developments in farming techniques, and
consciousness among farmers in emerging countries. On the other hand, there are factors that may hamper the
growth of the market including product price instability and weather dependency of farm activities.
The market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types,
and its applications are increasing across the globe. The market could be explored by vehicle type, placement,
application, end user and geography. Market could be explored by vehicle type as Trailers, Tractors, Combine
Harvesters and Others. The “Tractors” segment led the agriculture tire market in 2016 and is anticipated to
maintain its dominance over forecast period. The key factor that may be attributed to the growth of market
includes high demand.
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Based on placement, the market could span Rear tires and Front tires. The “Rear Tires” segment led the market
in 2016 and will continue to lead in the forecast period. These tires have longer life duration and are expensive
as compared to front tires. The key applications that could be explored in the agriculture tire market include
Tractor tires and Other tires. The “Tractor Tires” segment led the market in 2016 and will continue to lead in the