Agriculture Tire Market Insights: Size, Share, Growth Analysis & Forecast (2024-2029)

The market report offers a detailed analysis segmented by Sales Channel Type (OEM, Replacement/Aftermarket); by Application (Tractors, Combine Harvesters, Sprayers, Trailers, Loaders); by Tire Type (Bias Tires, Radial Tires); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The agriculture tire market is estimated to be at USD 7,320.12 Mn in 2024 and is anticipated to reach USD 9,291.32 Mn in 2029. 

• The agriculture tire market is registering a CAGR of 4.88% during the forecast period of 2024-2029. 

• The agriculture tire market is growing steadily, driven by increased mechanization in farming and the adoption of advanced technologies like precision agriculture. Demand is rising for durable, high-performance tires that can handle heavy loads and diverse field conditions.  

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Ecosystem 

• The participants in the global agriculture tire industry are always developing their strategies to preserve a competitive advantage.  

• Michelin continues to lead in innovation with products like the Evobib tire, designed to adapt between fieldwork and road travel, enhancing fuel efficiency and reducing soil compaction. Bridgestone is aggressively expanding its footprint in emerging markets through strategic partnerships, as seen in its collaboration with John Deere to supply advanced agricultural tires. 

• Several important entities in the agriculture tire market include Compagnie Generale des Establishments Michelin; Bridgestone Corp.; Titan International, Inc.; Balkrishna Industries Ltd.; Continental AG; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 7,320.12 Mn
Market Size (2029)	USD 9,291.32 Mn
Growth Rate	4.88% CAGR from 2024 to 2029
Key Segments	Sales Channel Type (OEM, Replacement/Aftermarket); Application (Tractors, Combine Harvesters, Sprayers, Trailers, Loaders); Tire Type (Bias Tires, Radial Tires); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Compagnie Generale des Establishments Michelin; Bridgestone Corp.; Titan International, Inc.; Balkrishna Industries Ltd.; Continental AG
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends 

• Increased Adoption of Precision Agriculture: The rise of precision farming technologies, such as GPS-enabled tractors and drones, is surging demand for specialized tires that offer better traction and soil protection, like Michelin’s Ultraflex tires. 

• Shift Towards Sustainable Solutions: The market is witnessing a shift towards environmentally friendly tires, such as Trelleborg’s eco-friendly range, which uses renewable materials to reduce carbon footprints. 

• Growth in Radialization: Radial tires are gaining popularity due to their superior durability and fuel efficiency, with companies like Bridgestone introducing advanced radial tires specifically designed for agricultural applications. 

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Catalysts 

• Rising Mechanization in Agriculture: The global increase in agricultural mechanization, especially in emerging markets like India, is fueling the demand for high-performance agricultural tires to support heavy machinery. 

• Expansion of Agribusiness: As agribusinesses expand, the need for reliable and efficient agricultural equipment grows, leading to increased demand for premium tires, as seen with the growing use of Mitas tires in large-scale farming operations. 

• Government Subsidies and Support: Governments in countries like Brazil and the U.S. are offering subsidies for agricultural machinery, boosting the sale of tires designed for high-load capacities and long-term use. Continental’s agricultural tires, such as the TractorMaster and CombineMaster series, are engineered to meet the demands of modern farming, particularly in terms of durability, load capacity, and fuel efficiency. 

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Restraints 

• Volatile Raw Material Prices: Fluctuating costs of raw materials like natural rubber are challenging for tire manufacturers, leading to pricing pressure. Goodyear Tire & Rubber Company faced significant challenges due to fluctuating raw material costs, especially natural rubber. These price increases put pressure on the company’s profit margins, forcing them to either absorb the costs or pass them onto consumers through higher tire prices. 

• Environmental Regulations: Stricter environmental regulations are pushing manufacturers to innovate and produce tires with lower emissions and sustainable materials, creating challenges for compliance, particularly in the European market. 

• High Cost of Advanced Tires: The high upfront cost of advanced agricultural tires, particularly those with radial construction, presents a significant barrier for small farmers, especially in economically constrained regions like Africa. These tires, though offering superior performance, durability, and fuel efficiency, often remain out of reach for small-scale farmers due to their limited financial resources. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Agriculture Tire Market (2018 – 2022)         2.2.    Global Agriculture Tire Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Agriculture Tire Market by Sales Channel Type                3.1.1.    OEM                3.1.2.    Replacement/ Aftermarket         3.2.    Global Agriculture Tire Market by Application                3.2.1.    Tractors                3.2.2.    Combine Harvesters                3.2.3.    Sprayers                3.2.4.    Trailers                3.2.5.    Loaders         3.3.    Global Agriculture Tire Market by Tire Type                3.3.1.    Bias Tires                3.3.2.    Radial Tires  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Agriculture Tire Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Compagnie Generale des Establishments Michelin         9.2.    Bridgestone Corp.         9.3.    Titan International, Inc.         9.4.    Balkrishna Industries Ltd.         9.5.    Continental AG         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Agriculture Tire Market – FAQs 

1.  What is the current size of the agriculture tire market? 

Ans. In 2024, the agriculture tire market size is $7,320.12 Mn. 

2.  Who are the major vendors in the agriculture tire market?  

Ans. The major vendors in the agriculture tire market are Compagnie Generale des Establishments Michelin; Bridgestone Corp.; Titan International, Inc.; Balkrishna Industries Ltd.; Continental AG. 

3.  Which segments are covered under the agriculture tire market segments analysis?  

Ans. The agriculture tire market report offers in-depth insights into Sales Channel Type, Application, Tire Type, and Geography.