Global agricultural tires market is estimated to be valued at US$ 6.32 Billion in 2024 and is expected to reach US$ 9.11 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

Global agricultural tires market is projected to witness substantial growth over the forecast period owing to rising usage of farm machinery across the globe. Agricultural tires are specifically designed tires for agricultural vehicles and farm equipment to perform in unpaved environments and endure heavy loads. These have deeper tread patterns and increased lateral stability for traction in soft soils. The growth of the agricultural sector along with the mechanization of farming practices has boosted demand for high-quality agricultural tires worldwide. Moreover, technological advancements in tire design focusing on longer lifespan, higher load capacity, and improved traction on various terrains are driving the market growth. However, high initial costs of agricultural tires and availability of counterfeit products can hamper the market growth.

Market Dynamics:

Global agricultural tires market growth is primarily driven by rising adoption of mechanized agricultural equipment for various harvesting and cultivation activities. Increasing demand for higher farm productivity and the shortage of agricultural labor are compelling farmers to rely more on mechanized farming solutions. This is positively influencing the sales of harvesters, tractors, and other machinery, thus, boosting demand for agricultural tires. Growing agriculture industry worldwide due to the mounting global population is driving  the market growth. Various government initiatives and subsidies to support agricultural infrastructural development are also propelling the market growth. However, high costs of agricultural tires as compared to normal tires and increasing availability of cheap counterfeit products can hamper the market growth.

Key features of the study:

• This report provides in-depth analysis of the global agricultural tires market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global agricultural tires market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Alliance Tire Group, Trelleborg AB, Balkrishna Industries Ltd., Michelin, Bridgestone Corporation, MRF Tyres Limited, Yokohama Rubber Co., Ltd., Titan International, Inc., Cheng Shin Rubber Ind. Co., Ltd. , Mitas, as, Deestone Tire & Rubber Co., Ltd., Galaxy Tire & Wheel Ltd., Sun Tyre Group Co., Ltd., Triangle Tyre Co., Ltd., ZC Rubber (SH) Co., Ltd., petlas, Greenland Tyre Co., Ltd., Trelleborg Wheel Systems Americas, Inc., Camoplast, Hinrichs Gummiwerke GmbH
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global agricultural tires market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global agricultural tires market

Market Segmentation

• By Tire Type
  • Bias Tires
  • Radial Tires
•  By Sales Channel
  • OEM
  • Aftermarket
•  By Application
  • Tractors
  • Combine Harvesters
  • Sprayers
  • Trailers
  • Loaders
  • Others
• By Regional
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Players Insights

• Alliance Tire Group
• Trelleborg AB
• Balkrishna Industries Ltd.
• Michelin
• Bridgestone Corporation
• MRF Tyres Limited
• Yokohama Rubber Co., Ltd.
• Titan International, Inc.
• Cheng Shin Rubber Ind. Co., Ltd.
• Mitas, as
• Deestone Tire & Rubber Co., Ltd.
• Galaxy Tire & Wheel Ltd.
• Sun Tyre Group Co., Ltd.
• Triangle Tyre Co., Ltd.
• ZC Rubber (SH) Co., Ltd.
• petlas
• Greenland Tyre Co., Ltd.
• Trelleborg Wheel Systems Americas, Inc.
• Camoplast
• Hinrichs Gummiwerke GmbH