Agricultural Tires
basically refers to the tires that are manufactured using wheels and modified
for use in farming related equipments like tractors, combines, sprayers and
skid steer loaders. Such tires are durable enough on or off the agricultural
field.
The industry research report
titled, “China Agricultural Tire Industry Situation and
Prospects Research report” is a
professional and in-depth investigation carried out to evaluate the recent
situation of the Agricultural Tire industry. It provides a comprehensive
analysis to its users involving the integrity of logic and totality of
contents. Basically, the report provides an outlay of the industry including specific
definitions, classifications, applications and industry chain structure along
with a market analysis for the international market including development
history, competitive landscape analysis, and major regions' development status.
Also, the development plans and policies are well discussed along with
manufacturing processes and cost structures.
The tire market is
majorly segmented by (a) Product Types, with production, revenue, price, and
market share and growth rate of each type, further classified into Radial Tire
and Bias Tire and (b) by applications, focusing on consumption, market share
and growth rate of Agricultural Tire in each application, which includes Tractors,
Harvesters, Trailers and Other.
The Agricultural
Tire in China market, mainly caters to the markets of North China, South China,
Northeast China, Southeast Coastal Area wherein the major market players namely
include-Michelin, Bridgestone, Pirelli, Trelleborg, AGT, BKT, Mitas, Sumitomo, Nokian
and Titan International.
A steady growth has been witnessed in the global automobile market and
the related robust growth of Chinese automobile market has further triggered
the tire market to recover slightly over the years. The global tire shipment has
witnessed a rise by 2% year on year to 1.963 billion, and relatively China's automotive tire output has reached up
1.2% to 572 million. In the next few years, Chinese automotive tire market is
expected to develop by around 4% as the sluggish economic scenario is all set to ameliorate since the
world gross product is forecasted to augment by 2.9 per cent in 2018, leading
to a recovery of the economy making it stable enough to relish an ongoing
global demand.
Considering the enterprises; Bridgestone, Michelin, Goodyear,
Continental and Pirelli have been ranked amongst the top five industry players in
the world. Through the fast-growing Chinese automobile market; the world's
major tire giants have managed to deploy their production bases in China and also amplified their investment for overall
expansion in the recent years, for instance, Continental started its Phase III
project in Hefei in November 2015 so as to level up the capacity
in China to 14 million tires per annum,
and Goodyear conducted the expansion of Dalian Plant in November 2016 with a new capacity of 5 million tires
per annum.
China's key local manufacturers have uplifted the
overseas layout in a bid to avoid the influence of anti-dumping and
countervailing investigations from US in order to be prepared well in advance
and ensure that the growth of this industry is not hampered. The acceleration
in the layout involves the following:- China's first-ranked
Hangzhou Zhongce Rubber has set up a tire factory in Thailand; Linglong Tire's Thai Factory Phase I was put
to function in 2016 and Phase II has been undergoing construction; Double Coin
opened its first overseas factory in Thailand in July 2016.
Associated with the relevant
linkages between demand, investment, trade and productivity; the inert global
growth is foreseen to ameliorate and thereby revive the overall investments in
the industry further leading to a speedy recovery in productivity. Moreover,
with the futuristic concept of Sustainable Development Goals (SDGs) which are
specifically the goals of “removing extreme poverty” and “generating decent
employment opportunities for all”; the industry on a whole will benefit since
all the industries in the global economy will experience positive shifts
towards development.
In addition, the trends of corporate integration in the industry have
been very much obvious in 2017 and the global tractor tires market is further likely to grow at a decent
CAGR of around 5.06% in terms of shipment by 2022.
The demand for agricultural tractor tires is anticipated to experience a
slow growth initially majorly due to the growth of replacement market.
Radial-ply
tires have been observed as the latest ones prevailing in the market and have
proved to be more efficient than bias-ply tires. Nowadays, tires are highly
engineered and are more capable of carrying more weight, efficient, and render
less impact on the terrain than before with the support of LSW technology through
which the inner wheel diameter has been increased while keeping the outer
diameter unchanged. Such ongoing advancements in the agricultural tractor tires
technology is expected to be one of the latest trends, which is going to drive
the market demand in the upcoming years.
Other
emerging trends with the passage of time will include- growing demand for green
agriculture tractor tires, increasing demand for wider agricultural tires and increasing
farm mechanization especially in developing countries such as India, China, and
Thailand. As a result, in 2022, The Asia Pacific
is projected to reckon for a major share i.e. more than about 71% of the global
agricultural tire industry.
Key Topics
Covered In The Report:
China Agricultural Tire Market Research Report
China Tire Manufacturing Industry Analysis
China Farm Tire Market Trends and
Opportunities
China Tire Industry Evolving Demand
China Agricultural Tire Market Size and Growth
China Tractor Tire Market Production Volume
China Agricultural Tire Market Major
Manufacturers
China High Flexion Tractor Tires Upcoming
Advancements
China Tire Market Segmentation Insights
China Rubber Industry Sales Revenue
Asia Pacific Tire Market Production Statistics
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Ankur Gupta,
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