Irrigation Tire Market: Introduction
- Irrigation tires are special purpose agriculture tires used for irrigation activities. These tires are high density tires and contain deeper and shallow treads for use in linear and pivot irrigations.
Key Drivers of Irrigation Tire Market
- Increased mechanization of farming activities in developing countries is boosting the use of tractors, sprayers, and irrigation equipment and their use for irrigation activities, which in turn is expected to drive the irrigation tire market during the period
- Shift from subsistence farming to commercial farms has fueled the adoption of irrigators and sprayers owing to larger farm size and demand for better yield. This is also expected to drive the irrigation tire market.
- Center pivot irrigation is gaining considerable interest, as it is less labor intensive and also lowers soil tillage. Center pivot irrigation is highly effective and rise in its adoption is boosting the sales of irrigation tires.
Radial tire segment to hold leading share of the global irrigation tire market
- Radial tires provide better traction in the field and have low rolling resistance. Radial irrigation tires are being widely adopted and are the radial tire segment is estimated to expand significantly during the forecast period.
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Aftermarket segment to hold leading share of the global irrigation tire market
- The aftermarket segment held the leading share of the irrigation tire market in 2019, owing to the wear & tear nature of the irrigation tire, thereby fueling the demand for replacement. A damaged tire often results in compaction of soil and hampers yield; hence, irrigation tires have high demand in the aftermarket and consequently, the aftermarket segment is estimated to expand at a prominent growth rate during the forecast period.
Europe & Asia Pacific to hold significant share of global irrigation tire market
- North America & Europe held a leading share of the global irrigation tire market. Farmers in these regions have high affordability and farms in Europe and North America are highly mechanized. Consequently, demand for irrigation tires is considerably high in North America and Europe.
- The market in Asia Pacific is projected to expand at a high growth rate during the forecast period owing to high usage of tractors and implements in India and China and adoption of irrigation tires due to growing awareness, and increased availability and affordability
Key Players Operating in Irrigation Tire Market
The global irrigation tire market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global irrigation tire market are:
- Trelleborg AB
- China National Tire & Rubber Corporation
- Titan International
- Firestone Tire and Rubber Company
- Bridgestone Corporation
- Yokohoma Rubber Company