Farm Implemented Tire: Introduction
- Farm Implement tires can withstand heavy loads. They are designed to resist damage, wear less under heavy use, reduce soil compaction, and provide better traction and control while driving on- and off-road.
Key Drivers of Farm Implemented Tire Market
- Rise in demand for farm machinery including baler, sprayer, and seeder, which require high load carrying capacity tires, is likely to boost the farm implemented tires market across the globe. Major tire manufacturers are investing in technological developments, including B-Tag Systems, to monitor tire pressure and temperature. The system alerts the driver about the maintenance of tires to avoid operational down time. This is anticipated to propel the farm implemented tire market across the globe. Advancements in technology, including two tire technology and smart tires, are projected to propel the global farm implemented tire market.
- Growing adoption of technology in farm implemented tires, including TreadStat and Rim management system, helps to track the performance of tires. Major tire manufacturers are investing in research to develop new composition of material to reduce the buildup of heat. This is anticipated to boost the farm implemented tire market across the globe.
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Asia Pacific & North America to hold significant share of global farm implemented tire market
- Asia Pacific is projected to hold a major share of the global farm implemented tire market due to rise in production of farm machinery across the region. Governments across the region are investing in the development of the agriculture sector. Rapid expansion of manufacturing industries across the region is likely to boost the distribution channel of farm implemented tires across Asia Pacific. This, in turn, is anticipated to propel the farm implemented tire market in Asia Pacific.
- Followed by Asia Pacific, North America is projected to hold for a significant share of the global farm implemented tire market due to a rise in the demand for agriculture equipment and machinery across the region. North America has strong presence of supply and distribution network of farm implemented tires, which is likely to boost the farm implemented tire market in North America.
- The COVID-19 pandemic has hit businesses on an unprecedented scale and speed across the globe. It has caused the closure of businesses, stoppage of factory outputs, and the disruption to global manufacturing industries and their supply networks, which is likely to restrain the farm implemented tire market across the globe.
Key Players Operating in Farm Implemented Tire Market
The global farm implemented tire market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the farm implemented tire market are:
- Alliance Tire America Inc.
- Superking Manufacturers Pvt Ltd
- JK Tire & Industries Ltd
- Bridgestone Corporation
- Continental AG
- Deere & Company
- Trelleborg AB
- Nokian Tires Plc
- Maxxis International
- Sumitomo Rubber Industries Ltd.
- Nexen Tire Corporation
- Titan International Inc.
- Balkrishna Industries Ltd
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Global Farm Implemented Tire Market: Research Scope
Global Farm Implemented Tire Market, by Material
- Synthetic Rubber
- Natural Rubber
- Carbon Black
- Fabrics & Wire
Global Farm Implemented Tire Market, by Load Capacity
- <1 Ton
- 1-1.5 Ton
- 1.5-3 Ton
- > 3 Ton
Global Farm Implemented Tire Market, by Application
Global Farm Implemented Tire Market, by Sales Channel
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