According to Arizton’s latest research report, the Europe tractor tires market is growing at a CAGR of 3.38% during 2023-2029.
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Report Scope:
Market Size – Revenue (2029): $762.20 Million
Market Size – Revenue (2023): $624.32 Million
CAGR (2023-2029): 3.38%
Market Size – Volume (2029): 1,701.1 Thousand Units
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Product Type, Sales Channel & Geography
Tractor sales are expected to grow as farmers adopt modern, labor-saving machinery, increasing demand for tractor tires. In 2023, tractor tires accounted for 60%-70% of the agricultural tire market, with radial tires making up a significant share. Factors such as expanding agricultural activities, rising global food demand, and government initiatives like the EU’s CEMA AgriTech 2030 are driving growth, especially in emerging economies. The shift to larger farming operations, along with advancements in farming technology, is fueling the need for modern agricultural machinery and tires. Government subsidies and increased awareness of organic farming further boost market demand.
OEM Sales Channel Leading the Europe Tractor Tires Market
The Original Equipment Manufacturer (OEM) segment is a key driver in the European tractor tire market, expected to hold a dominant share of around 47% by 2029. This segment benefits from strong partnerships between tire manufacturers and agricultural machinery producers, enabling a streamlined supply chain that integrates tires directly into the assembly of farming equipment. This direct sales model offers significant advantages, including optimized tire performance and convenience for farmers who receive fully equipped machinery straight from the manufacturer. Additionally, OEMs provide bundled solutions, where tires are matched to specific machinery, simplifying the procurement process and enhancing safety and efficiency. This approach also builds brand loyalty, as farmers develop trust in the tire brands that meet their operational needs. However, the OEM segment does face challenges related to pricing, as OEM tires are typically more expensive than aftermarket alternatives. This price sensitivity can lead some farmers to prefer lower-cost replacement tires once their warranty expires. Despite this, the OEM segment is expected to continue growing in line with increasing agricultural mechanization and advancements in farming technologies. As demand for high-performance, specialized tires rises—driven by innovations in tire design aimed at improving traction, reducing soil compaction, and enhancing durability—the adoption of OEM tires is set to increase. In conclusion, while the OEM segment remains the market leader due to its efficient supply chains and product optimization, it will need to navigate pricing concerns and competition from the aftermarket segment to maintain its dominant position.
Competitive Overview
In March 2024, Trelleborg launched its seasonal field demonstrations for farmers in Beaucouzé, France, showcasing next-generation tire technologies such as the PneuTrac and the TM1000 ProgressiveTraction. These events allow agricultural professionals to engage directly with Trelleborg experts and explore advanced tire solutions designed to enhance efficiency, traction, and soil protection. The demonstrations are part of Trelleborg’s commitment to providing hands-on support and optimizing farm operations through innovative tire technology.
Moreover, the tractor tire market in Europe benefits from the increased focus on sustainability and regulatory compliance, thereby pushing manufacturers to adopt eco-friendly production processes and materials. This trend, along with the rising demand for mechanization in farming practices, positions key market players to capitalize on growth opportunities through continued innovations and strategic investments.
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Key Company Profiles
- Alliance Tire Group
- Balkrishna Industries Limited (BKT)
- Bridgestone
- Michelin
- Titan International
- Trelleborg
- Continental
- Mitas
- Carlisle
- Vredestein
- Galaxy
- Linglong
- Hankook
- Pirelli
- Toyo Tires
- CEAT
- Yokohama
- Cultor
- Kleber
- Kenda Rubber Industrial Co., Ltd
- Kormoran
- Nokian Tyres plc
- MRF
- Dunlop
- Sava
- Cooper
Market Segmentation
Product Type
- Radial
- Bias
Sales Channel
- OEMs
- Aftermarket
Geography
- Europe
- France
- Germany
- Italy
- The U.K.
- Spain
- The Rest of Europe
The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the Europe tractor tires market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/europe-tractor-tires-market
What Key Findings Will Our Research Analysis Reveal?
Which product type dominates the Europe tractor tires market share?
How big is the Europe tractor tires market?
What is the growth rate of the Europe tractor tires market?
What are the significant trends in the Europe tractor tires industry?
Who are the key players in the Europe tractor tires market?
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To view the original version on ABNewswire visit: Europe Tractor Tires Market to Hit $762.2 Million by 2029, More than 1,701 Thousand Units to be Sold in the Next 6 Years – Arizton