The global agricultural tractor tires market is expected to reach 20,905.61 thousand units by 2022, growing at a CAGR of 5.06%.

In terms of revenue, the global agricultural tractor tires market is likely to cross 4 billion, growing at a CAGR of 3.52% during the forecast period 2016−2022. The market is expected to increase due to the growth of the replacement market for agricultural tractor tires. It is likely that the radial-ply tires segment will surpass the bias-ply segment by 2022. While APAC is expected to account for more than 71% of the overall market share, the share of North America is expected to decline.

View Report : Agriculture Tractor Tires Market - Global Outlook and Forecast 2017 - 2022

link: https://www.arizton.com/reports/automotive-mobility/agricultural-tractor-tires-market

The global agricultural tractor tires market is largely dominated by three companies, Bridgestone (catering geographies through Firestone), Michelin, and Titan International with more than 80% of the market share.
Other prominent vendors in the market include Alliance Tire Group (ATG), CEAT, Mitas, JK Tyre, Trelleborg Wheel Systems.

The demand for agricultural tractor tires is strongly correlated with the global tractors market, and the sale of agricultural tractors are dependent on the farmer's income. The global agricultural tractor tires market is expected to reach 20,905.61 thousand units by 2022, growing at a CAGR of 5.06%. 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, increasing the demand for agricultural tractor tires.

The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. The report also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further the report also provides complete value chain analysis of the global agricultural tractor tires market.

Advancement in Tire Technology Emerging as a Latest Trend

The growing demand from emerging economies, and increasing use of high HP tractors are among the major factors that are responsible for the high growth of the market. Further, increasing replacement market for agricultural tractor tires is another significant factor that is going to boost the global market. In addition to it, the growing government support driving the demand.

Radial-ply tires will account for the maximum share

The radial-ply-tires segment to account for more than 75% of the global market in 2022. The decreasing price of radial agricultural tractor tires technology has increased the market share for radial-ply tires in the global market. The demand for OEM agricultural tractor tire will remain flat in 2017 as reducing commodity prices and changing trends have impacted how farmers redistribute their wealth. The demand from replacement end-users dominates the agricultural tractor tires market in each geography.

APAC region to have the largest market share

In APAC, the demand for below 40 HP tractors is high. Countries such as India and China are registering a high demand for 40¬-100 HP tractors, however, the average HP remains under 100 HP in these countries. In terms of unit shipment, APAC is expected to account for more than 71% of the overall agricultural tractor tires market share. However, Africa is the fastest growing market, registering a CAGR of more than 8%. In terms of revenue, North America is expected to have the largest market share in 2022.

Related Reports
1) Robotic Lawn Mower Market - Global Outlook and Forecast 2017 - 2022

https://www.arizton.com/reports/smarttech-market-analysis/robotic-lawn-mower-market

2) Industrial Cleaning Robot Market - Global Outlook and Forecast 2017-2022

Link: https://www.arizton.com/reports/industrial-market-analysis/industrial-cleaning-robot-market-global-outlook-and-forecast-2017-2022

Source: Arizton Advisory & Intelligence Reports.

About Arizton
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-465-7864

This release was published on openPR.