Global Agricultural Tire Market projected to double to USD 15.4 billion by 2033

From GlobeNewswire: 2024-08-06 08:00:00

The Global Agricultural Tire Market is projected to double in size from USD 7.4 billion in 2023 to USD 15.4 billion by 2033, with a 7.6% CAGR. These specialized tires are designed to withstand challenging agricultural conditions, providing traction, stability, and load-bearing capacity for various equipment. Deep treads optimize traction in different field conditions, contributing to increased farming efficiency and productivity. The tractors segment is expected to dominate the global market during the projected period, with the OEM distribution channel growing at the fastest pace. North America holds the largest share in the market due to its advanced agricultural processes, while Asia Pacific is predicted to experience rapid growth with the rise of agricultural automation and robotics. Key players in the market include Bridgestone, Continental AG, Pirelli, and more. In July 2024, Trelleborg Tire signed a deal with John Deere to enhance its presence in Brazil, showcasing commitment to expansion for the future. Market segments include applications such as combine harvesters, sprayers, and loaders, as well as distribution channels and regional analysis. Advanced robotics solutions in Asia Pacific increase the region’s potential for farm automation. Major vendors engaged in the market are aiming to expand their products and services to meet the growing demand for efficient agricultural equipment.



Read more at GlobeNewswire: Global Agricultural Tire Market Size To Worth USD 15.4