/PRNewswire/ Growing demand for agricultural trucks and tractors has spurred the sales of tires and tire cords. Farm owners are reaping the benefits of.
/PRNewswire/ Growing demand for agricultural trucks and tractors has spurred the sales of tires and tire cords. Farm owners are reaping the benefits of.
- Companies in the agriculture tire & tire cord market are growing R&D in wear-resistant tread compounds to tap into massive profitable avenues in on- and off-road tires - Vast demand for
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Global Agriculture Tires market accounted for $5.20 billion in 2019 and is expected to reach $8.73 billion by 2027 growing at a CAGR of 6.7% during the forecast period.
Some of the key factors propelling the growth of the market are increasing agricultural activities, growing mechanization in agriculture, and rising population. However, fluctuation in the prices of raw material is the restraining factor for the growth of the market.
Tires are the components of a vehicle which comes in direct contact with the road. Agriculture tires are found in tractors, harvesters and so on which are used in various agricultural activities. They range in functionality and have specific roles for a variety of jobs.