DUBLIN, September 27, 2017 /PRNewswire/ --
The "Global Agriculture Tractor Tires Market - Strategic Assessment and Forecast 2017-2022" report has been added to Research and Markets' offering.
The global tractor tires market is likely to grow at a CAGR of 5.06% in terms of shipment during the period 2016-2022
The demand for agricultural tractor tires will witness a flat growth during 2017 mainly due to the growth of the replacement market. Further, the demand for tires is strongly correlated with the global agricultural tractors market. Also, 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, is increasing the demand for agricultural tractor tires.
The demand from replacement end-users dominates the agricultural tractor tires market in each geography. This is mainly due to the number of registered agriculture tractors remains lower than the number already in use.
Radial-ply tires are the most recent ones and are more efficient than bias-ply tires. The demand for radial-ply tires is likely to come from developed countries such as Europe and North America, where the demand for technical advanced tires is high.
Agricultural Tractor Tires Market - Trends, Drivers, and Restraints
The demand for high HP tractors is witnessed in developed geographies, especially European countries. Apart from these region, the demand for high HP vehicle is also increasing in Latin America, particularly Brazil and Argentina. High HP increases the demand for technically advanced agricultural tractor tires. Mainly wide and large tires are used in high HP vehicles. Hence, the increasing demand of high HP vehicles is one of the key drivers of the market.
Further, growing government support is driving the demand for agriculture tractor tires, and increasing replacement market for the same is another major driver discussed in the report.
Today's generation of agriculture tires are highly engineered and are more capable of carrying more weight, efficient, and leave less of an impact on the terrain than before. With the help of LSW technology, the inner wheel diameter is increased while keeping the same outer diameter. This formation improves the performance by reducing the height of the sidewall of the tire. This shows that the advancement in agricultural tractor tires technology is one of the latest trends, which is going to drive the market in the upcoming years. Other emerging trends included in the report are growing demand for green agriculture tractor tires and increasing demand for wider agricultural tires.
The report includes market analysis of different regions such as North America, Latin America, APAC, MEA, and Europe. It outlines the major market shareholders and the market size analysis of all regions. In terms of unit sales, in 2016, APAC was the largest market, whereas North America and Europe contributed 14.57% and 12.01%, respectively to the global market.
The contribution of geographies will remain steady till 2022. In 2022, APAC is expected to account for more than 71% of the overall market share, whereas the share of North America is expected to decline. However, Africa is the fastest growing market, registering a CAGR of more than 8%, followed by APAC during the forecast period. In terms of revenue, North America is expected to have the largest market share in 2022.
Key Topics Covered:
Section 1 Research Methodology
Section 2 Executive Summary
Section 3 Report Coverage
3.1 Report assumption
3.2 Market Derivation
Section 4 Introduction
4.1 Agriculture Sector: Contribution to the Growth of an Economy
Section 5 Key Drivers
5.1 Growing Demand from Emerging Economies
5.2 Increasing Use of High HP Tractors
5.3 Increasing Replacement Market for Agriculture Tractor Tires
5.4 Growing Government Support Driving the Demand for Agriculture Tractor Tires
Section 6 Key Market Trends
6.1 Advancement in Agricultural Tractor Tires Technology
6.2 Demand for Green Agriculture Tractor Tires
6.3 Increasing Demand for Wider Agricultural Tractor Tires
Section 7 Key Restraints
7.1 Volatility in Raw Material Prices
7.2 Increased Soil Compaction due to Use of Large Tractor Tires
7.3 Lack of Awareness about Technicalities of Agriculture Tractor Tires
7.4 Decline in Commodity Prices Lowers the Demand for Tractor Tires
Section 8 Global Agricultural Tractor Tires Market
8.1 Introduction
8.2 Tractor Tire Market Size and Analysis
Section 9 Segmentation on Construction Type
Section 10 Agricultural Tractor Tires Market by End-user
Section 11 Agricultural Tractor Tires Market by Geography
Section 12 Agricultural Tractor Tires Market in APAC
12.1 Market Size and Analysis
12.2 Segmentation by End-users
12.2.1 OEM Tractor Tires Market in APAC: Market Size and Forecast
12.2.2 Replacement Tractor Tires Market in APAC: Market Size and Forecast
12.3 India: Agricultural Tractor Tires Market Size and Analysis
12.3.1 Segmentation by End-user
12.4 China: Agricultural Tractor Tires Market Size and Analysis
12.4.1 Segmentation by End-user
12.5 Other Leading Agrarian Economies in APAC
Section 13 Agricultural Tractor Tires Market in North America
13.1 Market Size and Analysis
13.2 Segmentation by End-user
13.3 US: Agricultural Tractor Tires Market Size and Analysis
13.4 Segmentation by End-user
13.5 Canada: Agricultural Tractor Tires Market Size and Analysis
13.5.1 Segmentation by End-user
Section 14 Agricultural Tractor Tires Market in Europe
14.1 Market Size and Analysis
14.1 Segmentation by End-user
14.2 Germany: Agricultural Tractor Tires Market Size and Analysis
14.2.1 Segmentation by End-user
14.3 Russia: Agricultural Tractor Tires Market Size and Analysis
14.3.1 Segmentation by End-user
14.4 UK: Agricultural Tractor Tires Market Size and Analysis
14.4.1 Segmentation by End-user
14.5 France: Agricultural Tractor Tires Market Size and Analysis
14.5.1 Segmentation by End-user
14.6 Italy: Agricultural Tractor Tires Market Size and Analysis
14.6.1 Segmentation by End-user
Section 15 Agricultural Tractor Tires Market in Latin America
15.1 Market Size and Analysis
15.2 Segmentation by End-user
15.3 Brazil: Agricultural Tractor Tires Market Size and Analysis
15.3.1 Segmentation by End-user
Section 16 Agricultural Tractor Tires Market in Africa
16.1 Market Size and Analysis
16.2 Segmentation by End-user
Section 17 Competitive Landscape
17.1.1 Porter's Five Forces Model
17.1.2 Threat of New Entrants
17.1.3 Bargaining Power of Suppliers
17.1.4 Bargaining Power of Buyers
17.1.5 Threat of Substitutes
17.1.6 Threat of Rivalry
17.2 Competitive Landscape
Section 18 Key Vendor Analysis
18.1 Bridgestone
18.2 Titan International
18.3 Michelin
18.4 Balkrishna Industries Limited (BKT).
Section 19 Other Prominent Vendors
19.1 Alliance Tire Group (ATG)
19.2 CEAT
19.3 Mitas
19.4 JK Tyre & Industries Ltd.
19.5 Trelleborg Wheel Systems
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