Press release
Farm Tires Market Forecast, Trend Analysis & Competition Tracking
Industry Outlook
The tires utilized in the vehicles related to agriculture activities are known as the farm tires or also as agriculture tires. The tires used for these activities are different in composition from the basic tires as these tires need more efficiency and durability. These tires fall under the category of off road tires. The demand for these tires is rising due to increasing agriculture activities that requires different vehicles. Therefore, the Farm Tire Market is anticipated to expand and has tremendous scope during the forecast period. The global Farm Tire Market anticipated to flourish in the future by growing at a significantly higher CAGR.
Drivers and Restrains
Based on Product the market is segmented into Radial Tires and Bias Tires. The Bias Tires section is leading the market due to increasing demand of this product form the emerging economies, cost-effectiveness of these products and more efficiency offered for operation in various off road applications.
Based on Distribution Channel the market is segmented into Aftermarket and OEM. The Aftermarket section is dominating the market with more than half of the market shares owing to increasing requirement for replacing the older tires with improved and new, less sales of new vehicles foe agricultural activities and other factors.
Based on Application the market is segmented into Harvesters, Tractors and Other Applications. The tractors section is seen leading the market with over half the share of market owing to rising utilization in the activities related to farming, rising investment by the farmers with less financial feasibility in one vehicle performing numbers of tasks and other factors.
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Regional Insights
The Asia Pacific region is leading the global Farm Tire Market owing to increasing number of activities related to agriculture and number of manufacturers related to tractor and tire present in this region.
Farm Tire Market, By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Competitive Analysis
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and market share of the overall industry.
Balkrishna Industries Limited BKT
ATG
Bridgestone Corporation
Continental AG
Specialty Tires of America Inc.
Michelin
CEAT Ltd.
Sumitomo Rubber Industries Ltd.
JK TYRE and INDUSTRIES LTD.
Titan International Inc.
MRF Limited
Mitas Tires Global Inc.
Hankook Tire
Apollo Tyres Ltd.
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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