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Farm Tire Market 2020-2028 by Coronavirus-COVID19 Impact Analysis, Growth Status, Segmentation and Top Manufacturers Analysis

“The most recent research study on global Farm Tire market by Quince Market Insights offers a detailed analysis of several market dynamics such as Trends, market growth drivers, opportunities, and difficulties. This study highlights the major indicators of market growth that accompany a comprehensive analysis of this value chain, revenue development, and regional study. This data can allow readers to understand the quantitative growth factors of this international market. The study delivers details of the macro and micro economic indicators that are going to influence the growth of the Global Farm Tire Market over the forecast period 2016-2028.

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Companies Covered: Balkrishna Industries Limited (BKT), Bridgestone Corporation, Continental AG, MICHELIN, Mitas, TBC Corporation, Titan International, Inc., Sumitomo Rubber Industries Ltd., and Pirelli & C. S.p.A.

The research report on the global Farm Tire market offers an in-depth and comprehensive analysis that includes an in-depth view of the global market comprising the recent trend and the future growth of the global market with respect to services& products. The report additionally features a future study of the global Farm Tire Market on a global and regional level. The study incorporates a market attractiveness study in which the services are evaluated on the basis of market size as well as growth rate.

In addition, the Farm Tire market report offers an overview of the global market with a complete segmentation by end-user, type, application, as well as geographical regions, along with a complete traction analysis of the overall Farm Tire market. The global market report offers qualified research regarding the market to evaluate the major vendors, by integrating all the related products and services to know the position of the leading market players in the global Farm Tire market.

Market Segmentation: By Tire Type (Radial, Bias), By Equipment Horsepower (0-80 HP, 80-200 HP), By Sales Channel (OEM, Aftermarket), By End Use (Tractors, Implements, Harvesters, Irrigation, Forestry)

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In addition, the global Farm Tire market offers a complete analysis of the cutting-edge analysis of the competitors as well as the developing market trends, along with the market drivers, challenges, restraints, and lucrative opportunities in the Farm Tire market, to offer accurate insights about the recent scenario. This is going to prove helpful inaccurate decision-making. This research report offers a comprehensive analysis of the top players in the global market with comprehensive SWOT analysis, major developments, and a financial overview of the Farm Tire market. The global Farm Tire market report also provides a precise outlook of the global market with the help of the competitive scenario of the key players and aids the companies in gaining greater market shares by understanding a number of growth approaches.

Global Farm Tire Market Report Includes

  • An in-depth overview of the global Farm Tire market.
  • Detailed study of the global market trends, with data from 2013, 2014, 2015, and estimations of CAGRs through 2028.
  • An in-depth analysis pertaining to the Farm Tire market’s dynamics, specifically growth drivers, restraints, and opportunities.
  • Data regarding key manufacturers and users.
  • Discussion of the recent state, setbacks, innovations, and the upcoming needs of the market.
  • A look at the impact this market is having on other related industries.
  • Profiles of leading suppliers of the global Farm Tire market consumables and equipment.

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Global Farm Tire Market Revenue, Opportunity and Value Chain 2020-2027

Transparency Market Research has published a new report titled, “Farm Tire Market [Application: Tractors, Harvesters, Implements, Irrigation, Forestry, Others; Tire Type: Radial and Bias; Equipment Horsepower: 0-80Hp and 80-200HP; Sales Channel- OEM and Aftermarket] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2025.” According to the report, the global farm tire market is projected to reach US$ 10 Bn by 2025, expanding at a CAGR of 4.94% during the forecast period.

According to the report, the global farm tire market is likely to be driven by a range of macroeconomic and industry-specific factors. Europe is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of 5.43% between 2018 and 2025.

1farm tire market

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Increasing demand for agricultural products led by rising population across the globe is anticipated to be a major driver of the farm tires market during the forecast period. Moreover, encouraging government policies, such as subsidies on agricultural products and agricultural machinery, are estimated to trigger the adoption of farm tires. Governments of developing countries, generally, provide attractive financing options with low interest and subsidies on farming equipment in order to augment the production of farms and to cater to the demand for food by the growing population.

Economic expansion has propelled the investment for the improvement of agricultural infrastructure across the globe, specifically across developing countries, which are witnessing heavy investment in agricultural equipment. This, in turn, is anticipated to boost farm tire market during the forecast period.

Growing population is projected to fuel the need for agricultural products in the next few years. Since automation is the only way to increase agricultural productivity and meet the requirements of the growing population; demand for agricultural machinery including tractors, harvesters, Implements, and others is anticipated to rise significantly during the forecast period. Furthermore, the Chinese government provides subsidy on agricultural machinery. Greater encouragement for export along with expansion of the agricultural service industry are anticipated to boost the agricultural output during the forecast period. Rapid urbanization, surge in incomes, and increased demand for processed food are likely to boost agricultural activities, which in turn is expected to propel the use of various agricultural vehicles during the forecast period.

Bias tires can operate at lower speeds and are less susceptible to wear and tear from rocky terrain. Moreover, they are less expensive as compared to radial farm tires and therefore, currently, dominate the farm tire market. Radial farm tires are expensive; however, they offer 10% to 15% more traction than bias tires, thus improving efficiency by saving fuel. Furthermore, they have a longer tread life, better wear durability, and provide a smoother ride. Consequently, an increasing number of farmers are switching to radial farm tires. Thus, their demand is expected to rise during the forecast period.

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Based on sales channel, the farm tire market has been segregated into OEM and aftermarket. The aftermarket segment dominated the farm tire market. It is expected to maintain its dominance during the forecast period. Farm tires need to be replaced frequently, as they undergo wear & tear due to their operation under heavy load and on rough terrain. Moreover, increasing awareness about vehicle maintenance and establishment of aftermarket dealers in developing countries are expected to propel the aftermarket segment during the forecast period.

In terms of region, the global farm tire market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Rise in agricultural activities, industrialization of agribusiness, along with the presence of major tire manufacturers and tractor and farm related equipment manufacturers in India and China are projected to boost the farm tire market during the forecast period. Use of modern farm machinery along with continuous development in the field of tractors and farm-related equipment in North America and Europe are anticipated drive the farm tire market in the respective regions.

Prominent players operating in the global farm tire market include Balkrishna Industries Limited (BKT), Bridgestone Corporation, Continental AG, MICHELIN, Mitas, TBC Corporation, Titan International, Inc., Sumitomo Rubber Industries Ltd., and Pirelli & C. S.p.A.

The global farm tire market has been segmented as follows:

  • Global Farm Tire Market, by Application
    • Tractors
    • Harvesters
    • Implements
    • Irrigation
    • Forestry
    • Others
  • Global Farm Tire Market, by Tire Type
    • Bias
    • Radial
  • Global Farm Tire Market, by Equipment Horsepower
    • 0-80 HP
    • 80-200 HP
  • Global Farm Tire Market, by Sales Channel
    • OEM
    • Aftermarket
  • Global Farm Tire Market, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • France
      • U.K.
      • Spain
      • Italy
      • Rest of Europe
    • Asia Pacific
      • Japan
      • China
      • India
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America

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