According to a new report published by Introspective Market Research, titled, “Agricultural Tire Market by Type, Tire, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the global Agricultural Tire market size was valued at $ 7.56 Billion in 2023, and is projected to reach $ 12.45 Billion by 2032, registering a CAGR of 5.7% from 2024 to 2032.
Specialized rubber parts called agricultural tires are made for use on farm equipment like tractors and other farm vehicles. With features including improved grip, durability, and load-bearing capacity, these tires are made to endure the particular needs of farming conditions. Agricultural tires are essential for maximizing the efficiency of farming machinery and enabling successful and efficient operations in a range of agricultural tasks, including planting, harvesting, and plowing.
Innovative tires are becoming more popular in the market to solve particular agricultural problems like uneven fields and compacted soil. Innovative tire solutions that maximize fuel efficiency, reduce environmental impact and guarantee improved overall performance are clearly in demand. The need for agricultural tires is growing as the agriculture sector becomes more mechanized and advanced.
Current developments in the agricultural tire industry include the growing popularity of compound rubber tires with steel flex walls, forestry tires, trailer tires, and flotation tires. These new tire varieties meet the needs of contemporary farming methods by meeting the requirements for flexibility and durability. Tractors, combines, harvesters, sprayers, and other agricultural equipment depend on farm tires to maintain large loads and provide traction. The need for these specialty tires is rising as a result of agricultural mechanization. Farm tires are an integral part of the equipment used by farmers for vital tasks including harrowing, tilling, planting, and plowing.
The demand for food goods has increased due to the expanding global population, which has led to an increase in agricultural output through the use of various agricultural machines. An interesting development in agricultural tires is the increasing use of high-flotation tires, which have a bigger surface area. These tires provide better traction, increased fuel efficiency, and overall improved performance by reducing crop damage, improving tractor stability, and successfully mitigating soil compaction. With benefits like improved traction, less soil compaction, enhanced ride comfort, and higher fuel efficiency, radial tires outperform bias-ply tires. The greater load-carrying ability of dual tires is well recognized, and it helps to prolong tire life, improve fuel efficiency, and improve traction.
Global Agricultural Tire Market, Segmentation
The Agricultural Tire market is segmented on the basis of Type, Tire, Distribution Channel, and region.
Type:
The type segment is further classified into Tractors, Harvesters, Loaders, Sprayers, Trailers. Among these, the Tractor sub-segment accounted for the highest market share in 2023. For many agricultural tasks, such as tilling, planting, harvesting, and plowing, tractors are essential. The growing use of sophisticated farming equipment and techniques is driving up demand for specialty tractor tires. Tractor tires are essential for attaining the best possible traction, stability, and efficiency because they are made to handle large loads and travel over a variety of terrains. It is anticipated that the need for tractors and the tires that go with them will increase as the world's agriculture sector becomes more mechanized and advanced in order to fulfill the growing need for food. The prevalence of tractors in contemporary farming methods emphasizes the significance of specialty tires in raising agricultural output and efficiency.
Tire:
The Tire segment is further classified into Radial, Bais. Among these, the Radial sub-segment is anticipated to show the fastest growth by 2032. Radial tires, distinguished by their construction with cords running perpendicular to the direction of travel, offer a host of advantages over traditional bias-ply tires. This shift in preference can be attributed to the numerous benefits that radial tires bring to agricultural operations. One of the primary advantages of radial tires is their ability to improve fuel efficiency in agricultural machinery. By reducing rolling resistance, radial tires help decrease fuel consumption, which is particularly advantageous for large-scale farming operations where fuel costs constitute a significant portion of operational expenses.
Region:
The Agricultural Tire market in Asia-Pacific is projected to show the fastest growth by 2032. The agricultural tire market is booming in the Asia Pacific region as a result of urbanization, industrialization, and population growth. The transition from labor-intensive to more mechanized farming operations highlights the modernization of farming in the region. Asia has the most population in the world, especially in countries like China and India, which helps to explain why agriculture plays such an important position in the region's economy. Since a sizable section of the populace is mostly dependent on agriculture, the industry is quite important.
Some of the leading Agricultural Tire market players are
- Titan International Inc (U.S.)
- Cooper Tires (U.S.)
- The Goodyear Tire & Rubber Company (U.S.)
- Carlisle (U.S.)
- Eurotire, Inc (U.S.)
- Michelin (France)
- Continental Ag (Germany)
- Zenises (UK)
- Starco (Denmark)
- Tomket Tires (Czech Republic), and Other Active Players.
Key Industry Developments
- In January 2024, The Goodyear Tire & Rubber Company, a global leader in connected mobility, and ZF, a global leader in vehicle systems and industrial technology, announced the successful integration of tire intelligence technologies with vehicle motion control software. The collaboration delivered Goodyear SightLine, a suite of tire intelligence technologies, into the ZF cubiX ecosystem, a scalable vehicle motion control software that coordinated all dimensions of vehicle dynamics.
- In November 2023, DLG awarded the DLG-APPROVED quality mark to BKT's AGRIMAX V-FLECTO VF 650/65 R 42 and VF 540/65 R 30 tires. The tires demonstrated reduced soil compaction, decreased fuel consumption, self-cleaning capability, and ease of use, which were identified as winning factors. Consequently, the independent German testing institute DLG conferred the DLG-APPROVED quality mark to BKT's AGRIMAX V-FLECTO tires due to their remarkable performance demonstrated in field tests.
Key Findings of the Study / Key Industry Developments.
- Agricultural tires designed for farm equipment, offering improved grip, durability, and load-bearing capacity.
- Rising demand due to agricultural sector mechanization, emphasizing the need for enhanced equipment performance.
- Innovations addressing specific challenges like uneven fields and soil compaction gaining traction.
