Global Global Agricultural Tires Market Outlook, 2029

The Global Agricultural Tires market is expected to exceed USD 9 Billion by 2029, driven by the growth of the agricultural sector.

The agriculture tires market has evolved significantly over time, driven by the mechanization and modernization of farming practices worldwide. Historically, the development of agriculture tires parallels the advancement of agricultural machinery, starting from the early 20th century with the introduction of tractors and other specialized farming equipment. These tires play a crucial role in enhancing agricultural productivity by providing traction, stability, and durability across various terrains, from muddy fields to rugged landscapes. Special aspects of agriculture tires include their robust construction designed to withstand heavy loads and harsh environmental conditions, ensuring reliable performance throughout the farming season. Factors driving the market's growth include increasing global food demand, adoption of precision farming techniques, and advancements in tire technology that improve fuel efficiency and reduce soil compaction. According to the research report, “Global Agricultural Tires Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 9 Billion by 2029.The global agricultural tires market focuses on the manufacturing and distribution of tires specifically designed for agricultural vehicles and equipment. These tires are critical for agricultural machinery such as tractors, harvesters, sprayers, and trailers, as they provide traction, stability, and load-bearing capacity in various farming operations. The agricultural tires market caters to the needs of farmers and agricultural enterprises worldwide, ensuring efficient and productive farm operations. The agricultural tires market is expected to witness steady growth due to the increasing mechanization of agriculture, the need for sustainable farming practices, and the rising global population. The market will also be driven by technological advancements in tire design and increased investment in agricultural machinery. The global agricultural tires market is driven by factors such as the mechanization of agriculture, increasing food demand, technological advancements, and the need for sustainable farming practices. The market provides opportunities for tire manufacturers to develop innovative products that cater to the specific requirements of the agricultural sector. With the rising demand for efficient and reliable tires in farming operations, the agricultural tires market is poised for steady growth.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Market RestraintsFluctuating Raw Material Prices: The agricultural tires market is influenced by the prices of raw materials such as natural rubber, synthetic rubber, and steel cords. Volatility in raw material prices can impact the manufacturing cost of agricultural tires, thereby affecting market growth. • High Replacement Costs: Agricultural tires are subjected to challenging operating conditions, including rough terrains, heavy loads, and exposure to chemicals and extreme temperatures. Replacing tires can be expensive for farmers and agricultural businesses, leading to a reluctance in tire replacement and potential restraint for market growth. Market Trends

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Manmayi Raval

Manmayi Raval

Research Consultant

Adoption of Radial Tires: There is a growing trend towards the adoption of radial tires in the agricultural sector. Radial tires offer advantages such as enhanced traction, fuel efficiency, reduced soil compaction, and improved ride comfort. The market is witnessing a shift from bias-ply tires to radial tires due to their superior performance characteristics. • Increasing Demand for Low-Pressure Tires: Low-pressure tires, also known as flotation tires, are gaining popularity in the agricultural sector. These tires distribute the weight of agricultural machinery over a larger surface area, reducing soil compaction and minimizing damage to crops. The demand for low-pressure tires is driven by the need for sustainable farming practices and increased crop yields. Market Drivers and OpportunitiesMechanization of Agriculture: The increasing adoption of mechanized farming practices and the replacement of traditional manual labour with agricultural machinery are driving the demand for agricultural tires. Mechanization enhances productivity, reduces labour costs, and requires reliable and efficient tires for optimal performance. • Growing Global Population and Food Demand: The world's population is continuously rising, leading to increased demand for food and agricultural products. To meet this demand, farmers are increasingly investing in advanced agricultural machinery, resulting in a higher requirement for agricultural tires. • Technological Advancements in Tire Design: Tire manufacturers are focusing on developing technologically advanced agricultural tires that offer improved durability, traction, and fuel efficiency. The introduction of innovative tire designs, tread patterns, and materials opens opportunities for market growth. • Increasing Farm Consolidation: The consolidation of farmlands and the emergence of large-scale farms contribute to the demand for agricultural tires. Larger farms require more machinery and equipment, leading to a higher need for tires to support efficient farm operations.

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Manmayi Raval

Based on the report, the Sales Channel segment segmented into OEM, Replacement/ Aftermarket. OEM segment is leading in the Agricultural tires market due increasing demand for factory-fitted tires on new agricultural machinery, ensuring compatibility and optimal performance. The OEM (Original Equipment Manufacturer) sub-segment in the agriculture tires market is experiencing robust growth due to several compelling factors that highlight its strategic importance within the industry. As agricultural machinery becomes increasingly sophisticated and specialized, the demand for high-quality, durable tires that can seamlessly integrate with advanced equipment is on the rise. OEMs play a crucial role in this ecosystem by ensuring that their machinery comes equipped with tires that meet stringent performance and durability standards, thereby enhancing the overall efficiency and reliability of agricultural operations. One of the primary drivers of growth in the OEM sub-segment is the technological advancements in agricultural machinery. Modern tractors, harvesters, and other farm equipment are designed to operate under various challenging conditions, requiring tires that can provide optimal traction, fuel efficiency, and soil protection. OEMs, in collaboration with tire manufacturers, develop bespoke tire solutions that are tailored to the specific requirements of their equipment, ensuring superior performance and longevity. Moreover, the increasing focus on precision agriculture and smart farming practices has further fuelled the demand for OEM tires. These advanced farming techniques rely heavily on machinery equipped with state-of-the-art technology, necessitating tires that can support such innovations. OEMs are at the forefront of integrating these technologies, making their tire specifications more complex and specialized, which in turn drive growth in the OEM tire market. Based on the report, the Tire Type segment is segmented into Bias tire & Radial tire. Bias tires segment is growing in the Agricultural tires market due to their durability, cost-effectiveness, and superior traction on rough and uneven terrains. In the agriculture tires market, the bias tires sub-segment is experiencing growth driven by several key factors that underscore its relevance and appeal to modern agricultural practices. Bias tires, characterized by their cross-ply construction, offer significant advantages in durability and load-bearing capacity, making them ideal for heavy-duty agricultural machinery operating on challenging terrains. Their robust sidewalls provide enhanced resistance to cuts, punctures, and impacts, which is crucial for equipment used in rugged and often unpredictable field conditions. Moreover, bias tires are generally more cost-effective than their radial counterparts, presenting an attractive option for farmers and agricultural businesses looking to optimize operational expenses while maintaining reliable performance. This economic advantage is particularly appealing in emerging markets and regions where budget constraints are a significant consideration. Additionally, the traditional design of bias tires contributes to better traction and stability on soft and uneven ground, ensuring that tractors and other machinery can perform efficiently without slipping or sinking. The growing adoption of mechanized farming practices globally has also spurred demand for robust and dependable tires that can withstand intensive use and harsh working environments. As agricultural operations scale up to meet increasing food production needs, the bias tires sub-segment benefits from its proven track record of durability and performance. North America is leading the Agricultural tires market due to large-scale farming operations and high mechanization, while APAC is fastest growing owing to increasing agricultural activities and modernization of farming practices. North America leads the agriculture tires market due to several key factors that underscore its dominance in agricultural machinery and technology adoption. The region boasts a large agricultural sector characterized by extensive mechanization and high usage of specialized equipment such as tractors, combines, and harvesters. This widespread adoption of advanced agricultural machinery necessitates reliable and durable tires capable of handling diverse terrains and heavy workloads throughout the year. Additionally, North America benefits from a strong manufacturing base for agriculture tires, with several prominent companies producing innovative tire solutions tailored to the specific needs of the agricultural sector. Whereas, Asia-Pacific (APAC) is the fastest-growing market for agriculture tires, driven by rapid industrialization of agriculture and increasing mechanization in countries like China, India, and Japan. APAC's agricultural landscape is transforming with the adoption of modern farming techniques and the expansion of agricultural lands, prompting higher demand for efficient and durable tires. Moreover, government initiatives promoting agricultural productivity and infrastructure development further stimulate the market growth in APAC. The region's dynamic economic growth and rising disposable incomes also contribute to increased investments in agricultural machinery and related equipment, including tires optimized for performance and longevity. Together, these factors position North America as a leader and APAC as the fastest-growing region in the global agriculture tires market, each driven by distinct yet complementary factors supporting the advancement of modern agriculture. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Agricultural Tires Market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Sales Channel • OEM (Original Equipment Manufacturer ) • Replacement/Aftermarket By Application Type • Tractors • Combine Harvesters • Sprayers • Trailers • Loaders • Other Application Types By Tire Type • Bias Tires • Radial Tires The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Agricultural tires industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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Global Global Agricultural Tires Market Outlook, 2029

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