市場調查報告書
商品編碼
1441210
全球農用輪胎市場規模、佔有率、成長分析、按產品、按應用分類 - 產業預測,2023-2030 年Global Farm Tire Market Size, Share, Growth Analysis, By Product(Bias and Radial), By Application(Tractors, Harvesters) - Industry Forecast 2023-2030 |
2022年全球農用輪胎市場規模預估為77億美元,從2023年的81.1億美元成長到2031年的122.5億美元,預測期間(2024-2031年)複合年成長率為5.3%。
由於農用車輛農用輪胎需求增加以及整個細分市場的擴張,預計該市場將成長。據預測,市場擴張的關鍵催化劑將是農民採用先進技術來提高農業產量並滿足不斷成長的糧食需求。此外,有利的法規和農業技術的進步預計將支持該行業的成長,從而導致對輪胎等相關產品的需求增加。例如,印度政府的農業宏觀管理計畫為35 PTO馬力以下的曳引機提供25%的補貼,加拿大政府的《加拿大農業貸款法案》為購買土地和曳引機提供50萬美元的補貼。農民。此外,農民正在增加對農業設備的投資,以減少勞動力,最大限度地提高生產力。儘管初始成本較高,但此類設備有助於提高作物品質和產量。為了緩解不斷上漲的人事費用,許多農民正在縮小農場規模並出租部分土地。消費者對具有優異性能(例如耐穿刺性和耐磨性)的產品的需求增加,預計將增加高品質產品的產量。此外,由於農用輪胎產量增加和全球需求擴大,市場預計將擴大。
Global Farm Tire Market size was valued at USD 7.70 Billion in 2022 and is poised to grow from USD 8.11 Billion in 2023 to USD 12.25 Billion by 2031, at a CAGR of 5.3% during the forecast period (2024-2031).
The market is poised for growth, driven by increasing demand for farm tires in agricultural vehicles and the sector's overall expansion. Projections indicate that the primary catalyst for market expansion will be farmers adopting advanced technologies to enhance agricultural output and meet growing food demands. Furthermore, favourable regulations and advancements in farming tech are expected to bolster sector growth, leading to increased demand for related products like tires. For instance, the Indian government's "Macro-Management Scheme of Agriculture" offers a 25% subsidy on tractors with up to 35 PTO HP, while the Canadian government's "Canadian Agricultural Loans Act" provides farmers with loans up to USD 500,000 for land or tractor purchases. Moreover, farmers are investing more in farm equipment to maximize productivity with fewer laborers. Despite the initial high costs, these equipment types contribute to overall crop quality and yield improvements. To mitigate rising labour expenses, many farmers are downsizing their farms and leasing out portions of their land. The production of high-quality items is expected to increase due to growing consumer demand for products with superior attributes like puncture and wear resistance. Additionally, market expansion is anticipated due to increased production of farm tires and growing global demand.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Farm Tire and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Global Farm Tire Market Segmental Analysis
Global Farm Tire Market is segmented on the basis of product, application, distribution channels and region. By product, the market is segmented into bias and radial. By application, the market is segmented into tractors, harvesters, forestry, irrigation, implements, sprayers. By distribution channels, the market is segmented into oem and aftermarket. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers of the Global Farm Tire Market
Globally, there's a noticeable uptick in agricultural mechanization, as farmers increasingly embrace cutting-edge machinery and equipment to streamline their farming processes. Farm tires are essential components, offering vital support for heavy loads and ensuring traction for various agricultural machinery like tractors, combines, harvesters, and sprayers. This surge in agricultural mechanization is directly fuelling the need for farm tires.
The increasing demand for farm tires is propelled by the expansion of agricultural land, fuelled by population growth and rising food demands. With more land dedicated to farming, there's a growing requirement for sturdy and long-lasting tires to facilitate agricultural operations. This expansion of agricultural land directly contributes to the uptick in farm tire sales.
Restraints in the Global Farm Tire Market
The farm tire market is susceptible to shifts in agricultural commodity prices. During periods of low prices, farmers may encounter financial limitations, leading to potential delays or reductions in equipment acquisitions, including farm tires. Economic instabilities and price fluctuations within the agricultural realm can influence the demand for farm tires.
Market Trends of the Global Farm Tire Market
The demand for radial tires is on the rise within the farm tire market due to their increasing popularity. Radial tires present numerous advantages compared to bias-ply tires, such as enhanced traction, minimized soil compaction, heightened ride comfort, and improved fuel efficiency. Farmers are progressively acknowledging these benefits of radial tires, resulting in a transition in demand from bias-ply to radial tires in the agricultural industry.