Flexion Tires: Introduction

  • Farm mechanization and technological advancements in farming machinery are expected to boost the adoption of flexion tires
  • Global shift from subsistence to commercial farming to catalyze the adoption of advanced tires, such as flexion tires
  • Flexion tires can carry the same load at lower pressure and reduce soil compaction, which improves farm yield

Key Drivers and Restraints of Global Flexion Tire Market

  • Increase in sale of tractors worldwide due to rise in consumption of food is driving the global flexion tire market. Demand for heavier and more powerful tractors than earlier ones are prompting the tire manufacturers to develop newer tire technologies, such as flexion tires, to carry heavier load and reduce soil compaction.
  • Awareness among farmers about advantages of using advanced farm tires, such as flexion tire, to improve the farm productivity is estimated to boost the global flexion tire market
  • Flexion tires are effective in distributing the load transferred to ground when the inflation pressure is calculated and adjusted according to the application and load.  As most farmers lack technical knowledge and may not be able to correctly calculate inflation pressure, they will not benefit from flexion tires.
  • Flexion tire costs around 10%-15% more than the cost of a standard farm tire. Its higher price is restraining the growth of the global market.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Very High Flexion Tire to Witness Highest Demand

  • Very high flexion tires enable tires to carry the same load as standard radial tires at 40% lower inflation pressure. The VF tires were launched by Michelin in 2003. However, they are now being used globally in agricultural tractors and sprayers. These tires enable better ride handling, less slippage, and improved traction.

High HP Tractor to lead Global Flexion Tire Market

  • There is a growing preference for high HP tractors with requirement of high power and use of other machineries. High HP tractors have witnessed a rise in sales. Moreover, their higher load necessitates the use of flexion tires. Thus, the high HP tractor segment is expected to lead the global flexion tire market.

Aftermarket Segment to Hold Leading Share of Global Flexion Tire Market

  • The aftermarket segment is projected to hold large share of the global flexion tire market, owing to periodic replacement demand for agriculture tires due to wear and tear.  Rise in the number of tractor fleets and commercial farms is boosting the replacement demand. Moreover, expansion of dealership network in developing countries and growth in awareness among consumers regarding the maintenance of flexion tires to expected to fuel the aftermarket segment. Additionally, rise in sales of tractors in African countries and Latin America, and recovery of tractor sales in Europe are factors that are estimated to propel the  demand of the flexion tire as OE fitments.

Looking for Regional Analysis or Competitive Landscape in Flexion Tire Market, ask for a customized report

Asia Pacific to Lead Global Flexion Tire Market

  • In terms of region, the global flexion tire market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominates the global flexion tire market. China and India contributes around 80% to the tractor industry. Agriculture sector is vital to China and India, and governments of these countries are taking initiatives to boost the sales of tractors. Due to the availability of natural rubber in Asia, all leading tire manufacturers have their presence in the region, which further catalyzes the development and adoption of advanced tires, such as flexion tires.

Key Manufacturers Operating in Global Market

The global flexion tire market was highly fragmented in 2018. Key manufacturers operating in the global market are:

  • MICHELIN AG
  • The Goodyear Tire & Rubber Company
  • Titan International, Inc.
  • Continental AG
  • Bridgestone Corporation
  • Trelleborg AB
  • Firestone Tire & Rubber Company

Global Flexion Tire Market, by Tire Type

  • Increases Flexion (IF)
  • Very High Flexion (VF)

Global Flexion Tire Market, by Tractor Type

  • Low HP
  • High HP

Global Flexion Tire Market, by Sales Channel

  • OEM
  • Aftermarket

Global Flexion Tire Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Flexion Tire Market

Pre Book