Agricultural Tire Market Forecast: Projected Growth and Opportunities 2028

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Exploring Opportunities in the Agricultural Tire
Industry Market Size and Growth Projections
The TechSci Research report states that the
global agricultural tire market will experience
a steady growth rate between the years 2023 and
2028. This growth is attributed to changes in
farming practices worldwide, which have led to
an increased demand for efficient and productive
agricultural machinery. Governments of various
countries have invested in this sector,
resulting in growth in the agricultural industry.
Furthermore, the increasing population and
advancements in agricultural vehicle technology
have fueled the demand for agricultural vehicles
and Off-the-Road (OTR) tires. These
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factors are expected to contribute to the growth
of the global agricultural tire market during
the forecast period. Following the trade war
between China and other countries, the demand
for locally produced Off-the-Road (OTR) tires
increased in certain regions. This was because
import duties were raised, which in turn led to
an increase in the price of OTR tires. As many
countries do not have their own tire
manufacturing plants, they rely heavily on
imported tires. Furthermore, due to technological
advancements and increasing demand in the
agricultural market, many tire manufacturers have
invested in research and development for a new
range of very high flexion agricultural
tires. Browse more than XX market data Figures
spread through XX Pages and an in-depth TOC on
"Global Agricultural Tire Market" -
https//www.techsciresearch.com/report/agricultura
l-tires- market/14286.html The global
agricultural tire market is categorized by
application type, sales channel, tire type,
region, and company. As of 2022, the tractor
segment dominated the market and is expected to
maintain its leading position with a substantial
share during the forecast period. The trailer
segment holds the second-highest market share.
The agricultural sector has undergone structural
changes due to increased liberalization,
resulting in the adoption of advanced
agricultural machinery tools in farming
operations in recent years. Many countries have
witnessed an increase
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in the adoption of tractors, combine harvesters,
loaders, and other equipment to reduce the
workload and improve efficiency in the
agricultural sector. This progress has led to a
rise in sales of agricultural vehicles and
subsequently, Off- the-Road (OTR) tires in many
countries worldwide. In the regional segment,
Asia Pacific has the highest market share and it
is expected to grow during the forecasted
period. In India, agriculture is the primary
source of livelihood for more than 58 of the
population. The Indian agricultural market is
expected to grow in the coming year as more than
the half population is heavily dependent on
farming and every year agricultural sector is
growing. Indian agricultural market has huge
contribution toward the global food trade due to
its enormous prospects for productivity
improvement, especially in the food industry
worldwide. In the tire type segments, radial
tires occupied the largest market share of more
than 50 in the year 2022, and same is expected
to grow in the coming year. The bias tries are in
the market for the long time but after the
introduction of radial tires many agricultural
manufacturers shifted their preference toward
the radial tires, as the design of radial tires
are better than bias tires and also they have
more benefits due to which agricultural
manufacturers and in aftermarket the demand of
radial tires are high compared to bias tires,
but in some countries still nowadays, bias tires
are preferred by the buyers. Some of the major
players operating in the global agricultural
tire market include
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• Michelin Group
• Balkrishna Industries Limited (BKT)
• Apollo Tyres ltd
• Bridgestone Corporation
• Continental AG
• Goodyear Tire and Rubber Company
• Madras Rubber Factory Ltd
• The Yokohama Rubber Co., Ltd.
• Toyo Tire Corporation
• Zhongce Rubber Group Co., Ltd.
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• Many companies are investing in research and
  development of agricultural tires sector, this
  will introduce advanced tires that will meet the
  demand of the buyers in the market, also in many
  countries governments are spending heavily to
  promote mechanization in agricultural fields,
  this will directly affect the agricultural tire
  market in positive way, "said Mr.
• Karan Chechi, Research Director with TechSci
  Research, a research-based global management
  consulting firm.

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Global Agricultural Tire Market Global
Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F, Segmented By Application
Type (Tractors, Combine Harvester, Sprayers,
Trailers, Loaders, Others), By Sales Channel
(OEM, Aftermarket), By Tire Type (Bias Type,
Radial Type) and By Region, Competition has
evaluated the future growth potential of global
agricultural tire market and provides statistics
information on market size, structure, and
future market growth. The report intends to
provide cutting-edge market intelligence and
help decision makers take sound investment
decisions. Besides, the report also identifies
and analyzes the emerging trends along with
essential drivers, challenges, and opportunities
in the global agricultural tire market. Download
Free Sample Report - https//www.techsciresearch.
com/sample- report.aspx?cid14286 Related
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