Global Agriculture Tire Market Is Expected To Reach USD 5.7 Billion in the Forecast Period

(EstateNewsWire.com, January 08, 2018 ) The Global Agriculture Tire Market is anticipated to achieve USD 9.02 Billion by 2024 from USD 5.7 Billion in 2017, at a CAGR of 5.3%.
The productivity and demand for food has increased the use of various machinery. Agriculture Tires are unique segment in the tire industry. Tires are sectioned into groups by their rolling circumference referred as the measurement of distance that travels in one revolution.

Global Agriculture Market is predicted to have huge market share during forecast period

The increased pressure of meeting food requirements of global population has led to massive farming of fertile land. Industrialization and urbanization are expected to increase the potential usage of agricultural land, leading to a greater emphasis on farm mechanization. These factors are predicted to augment the growth of agriculture tire markets. The market of tires has been increasing because of a specific design that helps reduce soil compaction. Based on terrains different tires are manufactured. Tires are designed in a way, such that they smooth rides on rough surface, incorporates stability on hill surfaces, and provides better flotation.

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Incorporating DOT Representation marketing agriculture tires

The department of transportation in United States requires a code stamp on tires before they are bought into the market. It is represented in DOT (XX XX XX XXXX), where it indicates the company name and plant where the respective tire is manufactured along with the month, last four digits indicate the code. Companies manufacture thousands of different tires, so sorting out who made which tire and where can be confusing. To avoid such ambiguity we make use of DOT representation.

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Global Agriculture Tire market is abundant in United States

North America and Europe together are owing the majority share of agriculture tire market. Radial tires are mainly manufactured in North American and Europe as these tires would handle heavier loads. Asia Pacific to witness the highest growth in terms of income and volume owing strong demand for farm tires from emerging economies such as India, China, and Thailand. Brazil and Argentina are expected to foster significant growth. The top players in global Agriculture tire market are Titan Tire Corporation (U.S.), Superking Manufacturers (Tyre) Pvt. Ltd.(India), Bridgestone Americas Inc (U.S), Alliance Tire Americas Inc.(U.S.), Trelleborg Wheel Systems Americas Inc.(U.S.), Michelin (France), Shandong Yunzhou Wheel Co., Ltd. (China)

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