Germany Agricultural Tires Market Overview:
Market Research Future (MRFR)
projects the global Germany
Agricultural Tires Market to register a significant CAGR of 5% from 2020 to
2026 (forecast period).
Agricultural tires are specialty
tires that are used for agricultural machinery like tractors, harvesters,
trailers, and so on. These tires improve farming vehicles' fuel economy,
performance, and driver comfort.
Agriculture tires, as the name
suggests, are intended for use on a farm or in agriculture. The diagonal thread
on these tires is angled at 45 degrees. The traction provided by the treads
allows the tractor to move quickly through mud and soil. These come in various
sizes and diameters and are suitable for a wide range of equipment, including
tractors, trailers, combine harvesters, sprayers, and skid steer loaders. These
are made of high-quality rubber for long life and better performance on and off
the field. They have large ribs and voids for traction in soft terrain. These
tires improve fuel efficiency and hillside stability. Some tires have a diamond
tread design for minimal soil disruption.
One of the primary reasons for
the increased need for mechanization in the agricultural sector is the rising
food demand. Tires play a vital role in the performance of agricultural
machines, and hence the demand for agrarian ties is increasing. Tires, on the
other hand, are harmful to the environment because they are not biodegradable.
They contribute to landfill waste, despite the fact that the Environmental Protection
Agency classifies them as municipal solid waste rather than hazardous waste
(EPA). Tires emit toxins, and the oils they contain can contaminate soil and
groundwater. Furthermore, solvents or volatile organic compounds (VOC) are used
to produce heavy and treads for enhancing the adhesion of the tires, with the
process emitting the greatest number of emissions into the atmosphere. The
hazardous nature of agricultural tires may restrict the market growth in the
near future.
Tractors were previously used for
simple tasks such as plowing and tilling. Tractors now perform a variety of
tasks such as irrigation, harvesting, and fertilizer spreader, necessitating
the use of more specialized tires with larger rim sizes, which are more
expensive. Until 2009, the largest agriculture tire had a circumference of 243
inches; however, tire manufacturers are now offering sizes up to 256 inches.
The overall increase in tire size has fueled the tire price and, as a result,
is boosting the market in terms of revenue.
The agricultural tire market is
changing dramatically as a result of digital innovations. For example, in
December 2019, Continental AG, a leading German multinational automotive parts
manufacturing company, announced the introduction of Agriculture TireTech, an
innovative agriculture app that serves as a pressure and load calculator to
achieve optimal safety and efficiency when using Continental agricultural
tires. Companies in the agriculture tire market hope to expand their portfolio
of comprehensive digital services and solutions for their customers by using
mobile apps.
COVID-19 Impact on the Global Germany
Agricultural Tires Market
The global outbreak of a novel
coronavirus pandemic is likely to induce a slight slowdown in the industry. Due
to labor shortages, manufacturing operations have come to a halt. This has
resulted in a major decline in demand from end-use industries.
Market Segmentation
The global agricultural tires
industry has been segmented by tire type, sales channel, and application.
By tire type, the global Germany
Agricultural Tires Market has been segmented into Bias Tires and Radial Tires.
The radial tires segment is expected to grow at a significant CAGR in the
coming years.
By sales channel, the global Germany
Agricultural Tires Market has been segmented into OEM and Aftermarket. The
aftermarket segment earned a sizeable share and is predicted to grow at a
significant CAGR in the coming years.
By application, the global Germany
Agricultural Tires Market has been segmented into tractors, trailers, combine
harvesters, sprayers, loaders, and others. The tractors segment earned a
sizeable share and is projected to grow at a significant CAGR in the coming
years.
Regional Analysis
Based on region, the global
agricultural tires industry has been segmented into North America, Europe, Asia
Pacific, and the rest of the world.
North America earned the largest
share of the market due to advancements in farming equipment and evolution in
the agricultural industry, which is assisting in the growth of modern-day
integrated farming activities. Furthermore, the increasing agricultural growth
in India and China has made the Asia Pacific the next fastest-growing region.
China and India account for a significantly high number of tractors in use
worldwide. As a result, they present significant opportunities for
manufacturers of agricultural tires.
Key Players
Key players operating in the
global Germany Agricultural Tires Market are Bridgestone Corp., Trelleborg AB,
Continental AG, Balakrishna Industries Limited, Titan International, Inc.,
Michelin, Nokian Tires PLC, Pirelli & C SpA, Alliance Tire Group, and
Apollo Tires.
Summary
The global Germany Agricultural
Tires Market is predicted to register a significant CAGR of 5% from 2020 to
2026 (forecast period). The global Germany Agricultural Tires Market is anticipated
to grow moderately during the forecast period, owing to rising demand for
automation in farming activities and growing mechanization in agriculture.
These factors are expected to propel the demand for agricultural tires in the
coming years.
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