Lucintel Blog: Lucintel Forecasts Farm Tire Market to Reach $XX Billion by 2028

Wednesday, March 1, 2023

Lucintel Forecasts Farm Tire Market to Reach $XX Billion by 2028

According to the recent study the farm tire market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by increase in demand for agricultural vehicles and growing demand for technologically advanced agricultural tyres with high puncture and wear and tear resistance property.

Browse XX figures / charts and XX tables in this 150-page report to understand trends, opportunities and forecast in farm tire market by product (bias and radial), application (tractor, harvester, forestry, irrigation, implement, and sprayer), distribution channel (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link

https://www.lucintel.com/farm-tire-market.aspx

“Bias market is expected to remain the largest segment during the forecast period.”

Based on product, the farm tire market is segmented into product, application, distribution channel, and region. Lucintel forecasts that the bias market is expected to remain the largest segment as these tires are less expensive as compared to radial tires and ensure smooth riding experience on rough surfaces.

“Within the farm tire market, the tractor segment is expected to remain the largest application.”

Based on application the tractor segment is expected to witness the highest growth over the forecast period due to the growing demand for agricultural tractors, as tractors are multipurpose in nature and has the capability of carrying high load capacity.

“Asia pacific will dominate the farm tire market in near future.”

APAC will remain the largest region due to expansion of agricultural sector, improvement in the farming technologies and introduction of favourable policies that drives the agriculture industry.

Download Brochure of this report by clicking on https://www.lucintel.com/farm-tire-market.aspx.

Major players of farm tire market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Balkrishna Industries (BKT), Bridgestone, Continental AG, Compagnie Générale des Établissements Michelin (CGEM), Sumitomo Rubber, and Titan International are among the major farm tire providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/farm-tire-market.aspx or helpdesk@lucintel.com.

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Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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