As companies in the agriculture tire market were gaining confidence for the year 2020 after countering trade tensions and bad weather in 2019, that hampered the rubber planting and harvesting activities throughout North America, the COVID-19 (coronavirus) outbreak has caused more disruption in the market landscape. On the other hand, Indian tire manufacturer Apollo Tyres Ltd. is scaling back its production of passenger vehicles and is instead focusing on the production of agricultural tires in the Netherlands, Europe.
Manufacturers are abiding by the guidelines mentioned in the local health advisory to pursue their production activities amidst the COVID-19 era. As such, many production units have been temporarily shut down to flatten the curve of COVID-19 cases. In due course, companies in the agriculture tire market are taking efforts to evaluate market conditions in order to reopen their manufacturing facilities.
Digital innovations are bringing about a significant change in the agriculture tire market. For instance, in December 2019, leading German multinational automotive parts manufacturing company Continental AG announced the launch of Agriculture TireTech, an innovative agriculture app, which serves as a pressure and load calculator in order to achieve optimal safety and efficiency, while using Continental agricultural tires. With the help of mobile apps, companies in the agriculture tire market are aiming to expand their portfolio in comprehensive digital services and solutions for its customers.
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Various stakeholders in the agriculture tire market such as tire dealers and contractual partners are able to expand their business activities with the help of agriculture mobile apps. One of the key usage of these mobile apps is its ability to assess the right pressure in agriculture tires depending on the load.
Disruptive Technologies in Smart Agriculture Tires Keep Users Informed with Digital Platforms
Companies in the agriculture tire market are increasing their R&D activities in interconnected products in order to make farming more versatile and efficient. For instance, Nokian Tyres— a global leader in cars, trucks, and heavy-duty equipment tire manufacturing, participated in the Agritechnica 2019 exhibition to showcase its Nokian Tyres Intuitu, which is a novel introduction in the sphere of smart agriculture tire solutions. On the other hand, companies in the agriculture tire market are directing their investments toward the development of multi-use tractor tires used for agriculture and contracting. This is evident since tractor applications dictate the highest revenue among all applications in the agriculture tire market, which is estimated to reach a value of ~US$ 15 Bn by the end of 2030.
This report answers these questions and more about the agriculture tire market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Agriculture Tire Market: Research Methodology
This TMR report on the agriculture tire market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the agriculture tire market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the agriculture tire market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the agriculture tire market, with both a bottom-up and top-down approach.
This detailed assessment of the agriculture tire market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the agriculture tire market is estimated to expand are based on carefully vetted primary and secondary sources.