To feed an ever-increasing population in the global south, there has been a huge spike in the demand for high yield crops benefiting agriculture tire manufacturers. Agriculture tires have a deep tread design custom-built for tractors to provide greater traction while off-roading or traversing through gravel, sand, or mud strewn pathways. In stark contrast to winter tires, agriculture tires lack studs but have grooves enabling them to sink into gravel for ideal traction. The agriculture tires market has grown rapidly on account of greater deployment in the mining and construction industry.
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Real-time Data
Gathering Could be USP for Companies in Agriculture Tires Market
COVID-19 has caused
unprecedented strain on the global supply chain upending entire business
models. While rubber suppliers worried about transportation bans and logistical
issues, tire manufacturers had to contend with lockdowns and production
freezes. Naturally, operating profits were wiped off overnight and overheads
skyrocketed causing immense financial strain and impacting agricultural tire
delivery dates. Although demand in the automotive industry is displaying signs
of revival, uncertainties abound. Nonetheless, agriculture has been spared the
brunt of the pandemic. To recover quicker than rivals, companies in the
agriculture tires market should focus on deploying nanotechnology and providing
real-time data that enhances performance to their customers.
Perfect Trifecta of
Factors Make Europe Agriculture Tires Market Ripe for Transformation
A technological
transformation has been witnessed to a greater extent in the agricultural
sector than the mining and construction sector. Increased consumer spending and
a greater desire for off-road adventures result in the launch of customized
agricultural vehicles to tap this demand. Technological adoption is
particularly high in Europe as the continent has an ageing population, ideal
climatic conditions, and acres of arable land. Agriculture is typically
accomplished with mechanized systems as wages are quite high leading to huge
demand for agriculture tires.
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Diminishing Reserves
of Natural Rubber Could Make Radial Tires Replace Biased Rubber
Asian giants China and
India continue to exhibit a strong preference for biased rubber as it offers
superior flexibility and is cheaper to manufacture. However, dwindling supplies
of primary ingredient natural rubber could prove problematic in the long run
allowing radial tires to step in. Radial tires are made of synthetic material
and have a steel ply manufacturing base making them more flexible and durable
than radial agricultural tires. China and India are the most populous nations
on the planet and have significant percentages of their people involved in agriculture.
Agricultural tire companies are keen to tap this demand by establishing
manufacturing units to take advantage of abundant raw materials, favorable
policies, and cheap and plentiful labor.
Novel Tread Designs
Ideal Way to Stand Out in Competitive Oligopolistic Tire Market
Agriculture tires
manufacturers are prioritizing novel tread designs that are durable and
reliable and guarantee a level of performance through advanced engineering. The
agriculture tires market is heavily consolidated in the hands of a few
companies. Profiled ones in this report are Yokohama Rubber Co., Ltd., Continental AG, Trelleborg AB, Balkrishna
Industries Limited, and Pirelli & C. S.p.A., that control a majority of the
stake. Besides, there are other prominent players such as Bridgestone
Corporation, Sumitomo Rubber Industries Ltd., Goodyear Tire & Rubber
Company, Compagnie Générale des Établissements Michelin (CGEM), Titan Tire
Corporation, and Prometeon Tyre Group S.r.l.
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