India Agriculture Tire Market
is forecast to grow at an impressive CAGR during FY2022 – FY2027. Agriculture
Tire Market in India has shown promising growth in historical years and is
expected to show the same in forecast years too. The market is witnessing a
growing demand for agriculture tires in the Indian market owing to the digital
innovations. Using mobile applications to monitor the pressure and load
calculator to achieve optimal safety and efficiency of agricultural tires is an
explorable area for the growth of the market in next five years.
India Agriculture Tire market
is segmented by vehicle type, demand category and regional distribution. Based
on vehicle type, the market is further bifurcated into tractors, combine
harvesters, trailers, and others. Tractors are expected to project their
dominance in the market in the next five years. This growth can be attributed
to the rise in mechanized farming, and high demand for tractors in
horticulture, floriculture, hoe farming, etc. Tractors are also actively used
in urban and semi-urban centers in infrastructure, and construction activities.
Quality, brand image, lifetime, dealer suggestion and price are some of the
major factors that Indian farmers consider before they make purchases of the
tractors and its tires.
Indian economy experienced a
set back in the first quarter of 2020 because of the spread of COVID-19
pandemic. While the country observed a complete lockdown, the sales for
agricultural tires declined. The setback hit the market for more than 4 months
and after that, the market started regaining back its value. It is expected
that the market is going to regain its value and growth rate in the upcoming
five years FY2023 – FY2027.
Major players
operating in India Agriculture Tire Market include Bridgestone
Corporation, The Goodyear Tire & Rubber Company, The Yokohama Rubber Co.
Limited, Continental India Private Limited, Balkrishna Industries Limited, Apollo
Tyres Limited, Compagnie Générale des Établissements Michelin (CGEM), JK Tyre
& Industries Limited, among others. The companies are focusing on extensive research and
developments activities in order to stay competitive in the market. Other
competitive strategies include formation of alliances and partnerships.
Years
considered for this report:
Historical
Years: FY2017 – FY2020
Base Year: FY2021
Estimated Year:
FY2022
Forecast Period:
FY2023 – FY2027
Objective of the Study:
- To analyze historical
growth in market size of India Agriculture
Tire Market from FY2017 to FY2021.
- To estimate and forecast the market size of India
Agriculture Tire Market from FY2022 to FY2027 and growth rate until FY2027.
- To classify and forecast India Agriculture Tire Market based on
product type, power output, and regional distribution.
- To identify dominant region or segment in the India
Agriculture Tire Market.
- To identify drivers and challenges for India Agriculture
Tire Market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in
India Agriculture Tire Market.
- To identify
and analyze the profiles of leading players operating in India Agriculture Tire Market.
- To identify key sustainable strategies adopted
by market players in India Agriculture Tire Market.
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TechSci Research performed both
primary as well as exhaustive secondary research for this study. Initially,
TechSci Research sourced a list of manufacturers, suppliers, and service
providers across the country. Subsequently, TechSci Research conducted primary
research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the manufactures which could not be identified
due to the limitations of secondary research.
TechSci Research analyzed the manufactures,
distribution channels and presence of all major players across the country.
TechSci Research calculated the
market size of India Agriculture Tire Market using a bottom-up approach,
wherein data for various end-user segments was recorded and forecast for the
future years. TechSci Research sourced these values from the industry experts
and company representatives and externally validated them through analyzing
historical data of these product types and applications for getting an
appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Agriculture tire manufacturers, vendors,
service providers and other stakeholders
- Distributers and suppliers of agriculture tires
and other stakeholders
- Organizations, forums, and alliances
related to agriculture tires
- Market research and consulting firms
The study is useful in providing
answers to several critical questions that are important for the industry
stakeholders such as manufacturers, suppliers, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report,
India Agriculture Tire Market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
- Market, By Vehicle Type:
- Tractors
- Combine Harvesters
- Trailers
- Others
- Market, By Demand
Category:
o
OEM
o Replacement
Competitive
Landscape
Company Profiles: Detailed analysis of the major companies
present in India Agriculture Tire Market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed
analysis and profiling of additional market players (up to five).
India Agriculture Tire Market
is an upcoming report to be released soon. If you wish an early delivery of
this report or want to confirm the date of release, please contact us at [email protected]