Agriculture Tire Market | Leading Segments, Trends, Drivers and Challenges
Market Recovery and Growth Projections 2021-2025
The agriculture tire market is expected to grow by $ 2.2 bn, accelerating at a CAGR of almost 4.76% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Agriculture Tire Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented End-user (Replacement and OEM) and Geography (APAC, North America, Europe, MEA, and South America).
- 69% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Agriculture Tire Market size.
Agriculture Tire Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Integration of modern technology with tires will be a significant factor in driving the growth of the Agriculture Tire Market.
- Growing mechanization with continuous decline in farmworkers will be instrumental in driving the market growth during the forecast period.
- Growing popularity of retreading tires is a hurdle that needs to be crossed on the path to success.
Agriculture Tire Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- Apollo Tyres Ltd., Balkrishna Industries Ltd., Bridgestone Corp., Continental AG, Michelin Group, Nokian Tyres Plc, TBC Corp., Titan International Inc., Trelleborg AB, and Yokohama Rubber Co. Ltd. are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 4.76%.
- What is the incremental growth of the market?
The market is expected to grow by $ 2.2 bn through 2021-2025.
- What is a key factor driving this market?
Integration of modern technology with tires will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
69% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are Apollo Tyres Ltd., Balkrishna Industries Ltd., Bridgestone Corp., Continental AG, Michelin Group, Nokian Tyres Plc, TBC Corp., Titan International Inc., Trelleborg AB, and Yokohama Rubber Co. Ltd.
- What are the market segments covered in this report?
The market is segmented by End-user (Replacement and OEM) and Geography (APAC, North America, Europe, MEA, and South America)