North America Agricultural Tires Market Size By Sales Channel, By Radial Size, By Application, By Geographic Scope And Forecast

North America Agricultural Tires Market Size And Forecast

North America Agricultural Tires Market size was valued at USD 937.27 Million in 2023 and is projected to reach USD 1,282.09 Million by 2030, growing at a CAGR of 5.36% during the forecast period 2024-2030.

North America Agricultural Tires Market Drivers

The market drivers for the North America Agricultural Tires Market can be influenced by various factors. These may include

• Sales of Agricultural MachineryThe demand for agricultural tyres is directly impacted by sales of agricultural machinery, including harvesters, combines, and tractors. The need for tyres to outfit these machines rises in response to higher sales of farm equipment.
• Technological developmentsNew tyre technologies, such as airless tyres, radial tyres, and precision agriculture solutions, encourage consumers to replace their outdated tyres with more robust and energy-efficient models, which in turn accelerates market expansion.
• Government Subsidies and PoliciesThe agricultural sector’s demand for tyres may be boosted by government initiatives that promote agricultural development, such as incentives for sustainable farming methods or subsidies for farm equipment.
• Crop Production TrendsThe need for agricultural tyres is influenced by variations in crop production levels brought on by variables such as weather, market demand, and governmental regulations. An increase in crop yield is usually accompanied by a rise in the need for tyres and agricultural equipment.
• Trend towards Larger Farm OperationsThe demand for larger, more durable tyres that can support heavier loads and offer superior traction is driven by the trend towards larger farm operations, which is typified by an increase in the area under cultivation and the employment of larger, more powerful machinery.
• Replacement CycleThe market’s recurring demand for new tyres is determined by the replacement cycle of agricultural tyres, which is impacted by variables such as tyre durability, frequency of use, and maintenance procedures.
• Growing Mechanisation in AgricultureAs agricultural processes become more mechanised, there is a greater need for tyres for various types of agricultural machinery. This demand is a result of the requirement for enhanced productivity and efficiency.
• Environmental ConcernsThe introduction of tyre technology, such as low-pressure tyres and tyre inflation systems, that minimise soil disturbance and reduce fuel consumption is being driven by growing concerns about environmental sustainability and soil compaction.

North America Agricultural Tires Market Restraints

Several factors can act as restraints or challenges for the North America Agricultural Tires Market. These may include

• High CostBecause of their unique materials and design, agricultural tyres can be costly. Market expansion may be hampered by high costs, particularly for smaller farmers or agricultural enterprises with little funding.
• Volatility in Raw Material PricesA number of variables, including supply chain interruptions, geopolitical tensions, or shifts in demand, can affect the price of raw materials used in the production of tyres, such as steel and rubber. The total cost structure of agricultural tyres may be impacted by this volatility, which could hinder market expansion.
• The agricultural industry is prone to periodic oscillations that are impacted by several factors such as meteorological trends, commodity pricing, and governmental regulations. Farmers may postpone or cut back on purchases of new machinery, including tyres, during downturns, which may have an impact on consumer demand.
• Technological DisruptionsNew developments in agricultural technology and machinery, such precision farming or driverless cars, may eliminate the need for some tyres altogether or alter their specifications. For conventional tyre makers, adjusting to these technological disruptors might be difficult.
• Environmental RegulationsStricter rules governing the materials or manufacturing techniques used in agricultural tyres may result from a growing emphasis on environmental sustainability and emissions reduction. Adherence to these rules may raise manufacturing expenses and impede market expansion.
• Competition from Alternative SolutionsIn the agricultural industry, alternative solutions like tyre ballast, airless tyres, or tracks could pose a threat to conventional pneumatic tyres. These substitutes might have advantages like less compacted soil or longer lifespans, which would hinder the development of traditional agricultural tyres.
• Economic UncertaintyUncertainties in the economy, like as trade disputes, exchange rate swings, or geopolitical unrest, can affect investments in tyres as well as the activities associated with agriculture as a whole.
• Industry FragmentationThere are many small and medium-sized participants in the North American agricultural tyres industry, in addition to a few leading corporations. The market is relatively fragmented. Some firms may find their ability to grow in the market is limited by pricing pressure and fierce rivalry brought on by this fragmentation.

North America Agricultural Tires Market Segmentation Analysis

The North America Agricultural Tires Market is segmented on the basis of Sales Channel, Radial Size, Application, and Geography.

North America Agricultural Tires Market, By Sales Channel

• Original Equipment Manufacturers (OEMs)
• Replacement/aftermarket

Okay, so when we look at how agriculture tires are sold, there are two main routesdirectly to the OEMs and through the replacement/aftermarket. In 2021, the replacement/aftermarket was the bigger piece of the pie, grabbing a 55.82% share, which translates to a whopping USD 1,402.45 Million. Experts predict it'll keep growing at a rate of 4.54% annually. Now, OEMs came in second, with a value of USD 1,109.84 Million in 2021, but get this – they're expected to grow the fastest, at a CAGR of 5.81%! Just to clarify, the "replacement/aftermarket" bit refers to tires that weren't originally made for a specific tractor or combine, but are sold later on when the original ones wear out. You can find these tires from all sorts of brands, and they're usually designed to fit different types of equipment. You can pick them up at your local tire shop, farm supply store, or even online.

North America Agricultural Tires Market, By Radial Size

• 9.5R24
• 11.2R20
• 12.4R20
• others

Think of the agricultural tires market, broken down by radial sizeyou've got 9.5R24, 11.2R20, 12.4R20, and, of course, "others." In North America, the Radial Size segment is really taking off! In 2020, the 9.5R24 size was the big winner, grabbing a whopping 48.73% of the market share, which translates to a market value of USD 1,224.31 Million. We're expecting it to keep growing at a rate of 4.17% over the next few years. 11.2R20 came in second place in 2020 with a value of USD 447.14 Million, and is forecasted to grow at 4.90%. But hold on, the real excitement is in the "Others" category, which is projected to grow the fastest, at a CAGR of 6.66%! You can learn more about these trends here.

So, you see that 12.4R20 tire size on a lot of farm equipment? The "12.4" basically tells you the tire's width in inches, and the "R20" tells you what size wheel it fits, also in inches. That "R" means it's a radial tire. These agriculture tires, especially this size, are built for the tough stuff – think tractors, trailers, and loaders. They're made to give you great grip, keep you steady, and let you move around easily even when the fields are muddy or uneven. Plus, they're strong enough to handle heavy loads and rough ground that comes with farm work.

North America Agricultural Tires Market, By Application

• Tractors
• Trailers
• Sprayers
• Combine Harvesters
• Loaders
• Others

Based on Application, The market is segmented into Tractors, Trailers, Sprayers, Combine Harvesters, Loaders, and Others. Tractors accounted for the largest market share of 84.15% in 2020, with a market value of USD 2,114.06 Million and is projected to grow at a CAGR of 5.03% during the forecast period. Trailers was the second-largest market in 2020, valued at USD 101.28 Million in 2020; it is projected to grow at a CAGR of 5.09%. However, Others is projected to grow at the highest CAGR of 7.25%.

Agriculture tractor tire players in North America are companies that specialize in producing and distributing tires specifically designed for use on tractors in the agriculture industry. Some of the well-known players in this market include, Bridgestone, Agriculture tractor tire players in North America are companies that specialize in producing and distributing tires specifically designed for use on tractors in the agriculture industry.

North America Agricultural Tires Market, By Geography

• United States
• Canada
• Mexico

Looking at North America, the agricultural tire market breaks down into the United States, Canada, and Mexico. The U.S. dominates, grabbing a whopping 87.64% of the market in 2021, which translated to a value of $2,201.73 million. We're expecting the U.S. market to keep growing at a rate of 4.97% annually. Canada came in second that year, with a market worth $234.64 million, and they're actually predicted to have the fastest growth, at 6.27% each year. What's driving all this demand? Well, farmers are exploring new land and using new equipment, which requires strong, reliable rubber. Think of your tires as your vehicle's main connection to the ground; they're crucial for pulling power. Things like your mechanical settings, stud height, wear and tear, and even tire pressure can really impact your workday and even how much your soil gets compacted, affecting your bottom line. You can boost your farm's productivity without tons of effort by just understanding a few things about your tires. The carcass, that's the tire's frame, really bears the brunt of the load out in the field.

It's pretty clear that tech is becoming a bigger deal in farming, and that's driving some cool new inventions! Think about itmore farmers are using tractors and other machines to get way more done. What's even cooler is that these machines are getting smarter, with things like telematics systems and GPS. These advancements are making farm equipment even more appealing. Take the autopilot system, for example. It's a game-changer! Tractors, sprayers, and combines get hooked up with GPS, and suddenly they can drive themselves accurately through the fields. The tracking system talks to the steering, so the operator doesn't have to manually drive.

Basically, these kinds of advancements are predicted to help the North American agriculture and farm machinery market grow like crazy over the next few years.

Key Players

The major players in the North America Agricultural Tires Market are

• Micheline North America
• Titan International Inc
• Mitas Tires
• Continental AG
• Bridgestone Americas
• Trelleborg AB
• Firestone Tire And Rubber Company
• Specialty Tires Of America IncMagna Tyres Group
• BKT
• CEAT Ltd.
• Yokohama Off-Highway Tires
• The Carlstar Group LLC
• Maxam Tires
• Apollo Tires
• Nokian Tyres PLC

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