Global Agricultural Tractor Tires Market 2017-2021

Published: May 2017 Pages: 70 SKU: IRTNTR12778

Agricultural Tractor Tires Market: Key Drivers, Trends, and Challenges

The high labor wages is notably driving the agricultural tractor tires market growth, although factors such as the increase in the tractor rental market may impede market growth. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Agricultural Tractor Tires Market Driver

One of the key factors driving growth in the agricultural tractor tires market is the high labor wages. Labor wages in the Americas and Europe are at their peak, whereas in APAC countries, such as India and China, farmers are facing difficulty in employing more laborers in the farms. Farmers are increasingly showing the willingness to be independent, which can be possible by farm mechanization. Tractor implementation is the most vital step for farm mechanization, as it will lead to less reliance on human labor. One of the key factors driving growth in the agricultural tractor tires market is the high labor wages. Labor wages in the Americas and Europe are at their peak, whereas in APAC countries, such as India and China, farmers are facing difficulty in employing more laborers in the farms. Farmers are increasingly showing the willingness to be independent, which can be possible by farm mechanization. Tractor implementation is the most vital step for farm mechanization, as it will lead to less reliance on human labor.

Key Agricultural Tractor Tires Market Trend

The growing demand for high flexion tractor tires is another major factor supporting the agricultural tractor tires market share growth. The high flexion tractor tires can carry load with approximately 40% reduced air pressure. These tires have several advantages as they guarantee longer footprint by reducing soil compaction, causing a higher yield. The tire lugs are manufactured in such a way that they help tractors move in dirt and mud with ease and such designs also reduce tire slippage. OEMs are increasingly facing the challenge to reduce the cost of high flexion tractor tires to make them affordable for small farmers with low land holdings. This has led the market to be highly price-sensitive, compelling OEMs to reduce the cost of manufacturing while investing heavily in the new technological advances.

Key Agricultural Tractor Tires Market Challenge

The increase in the tractor rental market will be a major challenge for the agricultural tractor tires market. Farm areas in APAC, mostly in countries like India and China, are highly fragmented and small compared with farm areas in developed areas like the US and Europe. Farmers owning small plots often find it difficult to raise funds to buy tractors. The seasonal use of tractors makes it less appealing for cost-sensitive farmers to buy such tractors. Hence, farmers prefer renting tractors for a fraction of their cost and save the additional money, which would have otherwise been spent on tractor maintenance. Increase in the number of households participating in tractor rentals is causing less tractors to be sold to the farmers in India.

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Who are the Major Agricultural Tractor Tires Market Vendors?

The market is moderately competitive since it has the presence of a limited number of well-established vendors. Investment in farm mechanization and enhancing product portfolios are the major strategies that will help the market players gain a competitive advantage in the market. In the coming years, the established players will increasingly focus on cost-efficient manufacturing techniques that will help them reduce production costs.

Key vendors in the market are:

  • Bridgestone
  • MICHELIN
  • Titan International

Other prominent vendors include ATG Tires, CEAT, and Mitas.

What are the Revenue-generating Wheel Width Segments in the Agricultural Tractor Tires Market?

  • Small-size tires
  • Large-size tires

During 2016, the small-size tires segment dominated the agricultural tractor tires market and is expected to continue its dominance over the next four years. The utilization of small-size tires in compact-size tractors due to its cost-effectiveness and low fuel consumption and the increased utilization of small-size tires in India and China due to the small size of farms, will be the major factors fueling the growth of this market segment.

Which are the Key Regions for Agricultural Tractor Tires Market?

  • Americas
  • APAC
  • Europe

In terms of geography, APAC accounted for the majority of the market shares of the agricultural tractor tires market during 2016 and is predicted to continue the domination during the forecast period as well. The major contributor to the region’s market dominance is the dependence of a huge population on agriculture for their livelihood that will drive the demand for agriculture machinery and vehicles.

What are the Key Factors Covered in this Agricultural Tractor Tires Market Report?

  • CAGR of the market during the forecast period 2017-2021
  • Detailed information on factors that will drive agricultural tractor tires market growth during the next five years
  • Precise estimation of the agricultural tractor tires market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the agricultural tractor tires industry across Americas, APAC, and Europe
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of agricultural tractor tires market vendors

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***1. Executive Summary                           

***2. Scope of the report                           

                **2.1 Market overview

                                *2.1.1 Vendor segmentation

                                *2.1.2 Base year

                                *2.1.3 Summation errors

                                *2.1.4 Product segmentation

                *Exhibit 01:  Segmentation of global agricultural tractor tires market       

                **2.2 Top-vendor offerings        

            *Exhibit 02:  Product offerings  

***3. Market research methodology                    

                **3.1 Research methodology    

                **3.2 Economic indicators           

***4. Introduction                         

                **4.1 Key market highlights        

***5. Market landscape                              

                **5.1 Market overview

                **5.2 Market size and forecast 

                *Exhibit 03: Global agricultural tractor tires market 2016-2021 (millions of units)

                **5.3 Five forces analysis             

                *Exhibit 04:  Five forces analysis

***6. Market segmentation by wheel width                      

                **6.1 Global agricultural tractor tires market by wheel width      

                *Exhibit 05: Global agricultural tractor tires market by wheel width 2016

                *Exhibit 06:  Global agricultural tractor tires market by wheel width 2021               

*Exhibit 07:  Global agricultural tractor tires market by wheel width 2016-2021 (millions of units)               

                **6.2 Global agricultural tractor tires market in small-size tire segment  

                *6.2.1 Market size and forecast

*Exhibit 08:  Global agricultural tractor tires market in small-size tires segment 2016-2021 (millions of units)   

*Exhibit 09:  Global agricultural tractor tires market in small-size tires segment by region 2016-2021 (millions of units)            

                **6.3 Global agricultural tractor tires market in large-size tire segment  

                *6.3.1 Market size and forecast

*Exhibit 10:  Global agricultural tractor tires market in large-size tire segment 2016-2021 (millions of units)   

*Exhibit 11: Global agricultural tractor tires market in large-size tires segment by region 2016-2021 (millions of units)            

***7. Geographical segmentation                          

                **7.1 Global agricultural tractor tires market by geography         

                *Exhibit 12: Global agricultural tractor tires market by geography 2016 and 2021                

                **7.2 Agricultural tractor tires market in Americas           

                *7.2.1 Market size and forecast

                *Exhibit 13:  Agricultural tractor tires market in Americas 2016-2021 (millions of units)   

                **7.3 Agricultural tractor tires market in Europe

                *Exhibit 14:  Average farm size in European countries (acres)      

                *7.3.1 Market size and forecast

  *Exhibit 15:  Global agricultural tractor tires market in Europe 2016-2021 (millions of units)          

                *Exhibit 16:  Sales of new tractors in European countries 2010-2015 (thousands of units)

                **7.4 Agricultural tractor tires market in APAC  

                *7.4.1 Market size and forecast

   *Exhibit 17:  Global agricultural tractor tires market in APAC 2016-2021 (millions of units)             

                *Exhibit 18:  Agricultural tractor tires market in APAC 2016-2021 (millions of units)           

***8. Key leading countries                       

                **8.1 India         

                **8.2 China       

                **Exhibit 19:  Key leading countries in global agricultural tractor tires market      

***9. Market drivers                    

                **9.1 High labor wages

                *Exhibit 20:  Minimum wages in US states on hourly basis 2016  

                **9.2 Growing participation of private players and government initiatives             

                **9.3 Developing global agricultural industry      

***10. Impact of drivers                             

                **Exhibit 21:  Impact of drivers 

***11. Market challenges                          

                **11.1 Increase in tractor rental market                

                **11.2 Intermediate layers curbing farmers' purchasing power  

                **11.3 Fluctuation in raw material prices             

                **11.4 Impact of drivers and challenges

                **Exhibit 22:  Impact of drivers and challenges  

***12. Market trends                   

                **12.1 Increase in demand for high flexion tractor tires 

                **12.2 Increase in consolidation of fragmented land in Europe and Americas       

                **12.3 Asia to emerge as a hub for airless tire manufacturing      

***13. Vendor landscape                            

                **13.1 Competitive scenario      

                **13.2 Prominent vendors         

***14. Key vendor analysis                        

                **14.1 Bridgestone        

                *14.1.1 Business overview          

                *14.1.2 Business segmentation by revenue         

                *Exhibit 23:  Bridgestone: Business segmentation by revenue 2015           

                *14.1.3 Geographical segmentation by revenue

                *Exhibit 24:  Bridgestone: Geographical segmentation by revenue 2015  

                *14.1.4 Business strategy            

                *14.1.5 Recent developments   

                *Exhibit 25:  Bridgestone: Recent developments

                **14.2 MICHELIN            

                *14.2.1 Business overview          

                *Exhibit 26:  MICHELIN: Business segmentation by revenue 2015               

                *14.2.2 Business strategy            

                *14.2.3 Recent developments   

                *Exhibit 27:  MICHELIN: Recent developments   

                **14.3 Titan International           

                *14.3.1 Business overview          

                *Exhibit 28:  Titan International: Business segmentation by revenue 2015              

                *14.3.2 Business strategy            

                *14.3.3 Recent developments   

                *Exhibit 29:  Titan International: Recent developments 

***15. Appendix                            

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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