Technology News & Trends

  Agriculture Tire Market: Introduction According to the report, the global  agriculture tire market  is projected to reach ~ US$ 15 Bn  by 2030, expanding at a CAGR of  ~5%  during the forecast period. The population boom around the world is boosting the demand for better agriculture yield, which is a key factor propelling the global agriculture tire market. Attractive financing options on purchase of new tractors and subsidies on agricultural tractors and equipment by governments are driving the demand for agriculture tires. Government stimulus such as Common Agriculture Policy (CAP) by European Union (EU) for EU member countries, funding by Food & Agriculture Organization (FAO) & other African food organizations in Middle East & Africa are providing financial support to develop and help purchase agriculture machinery for farms in these regions, which, in turn, is estimated to propel the agriculture tire market. Rapid urbanization and economic...

Agriculture Tire Market: Introduction According to the report, the global  agriculture tire market  is projected to reach ~ US$ 15 Bn  by 2030, expanding at a CAGR of  ~5%  during the forecast period. The population boom around the world is boosting the demand for better agriculture yield, which is a key factor propelling the global agriculture tire market. Attractive financing options on purchase of new tractors and subsidies on agricultural tractors and equipment by governments are driving the demand for agriculture tires.  Rapid urbanization and economic expansion have fueled the demand for utilization of harvesters, combines, and tractors. The shift from subsistence to larger commercial farming has necessitated the use of tractors, which in turn is boosting the demand for agriculture tires. Based on tire type, the bias segment held a dominant share of the global agriculture tire market, as they are cost-effective as compared to radial tires and le...