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Global tractor tires market is forecast to grow at a CAGR of 5.06% through 2022

Wednesday, October 11, 2017
Lewes, DE - The global tractor tires market is likely to grow at a CAGR of 5.06% in terms of shipment during the period 20162022 according to Report Insights. The demand for agricultural tractor tires will witness a flat growth during 2017 mainly due to the growth of the replacement market. Further, the demand for tires is strongly correlated with the global agricultural tractors market. Also, increasing farm mechanization in developing countries such as India, China, Thailand, and the African continent is increasing the sale of agricultural tractors. This, in turn, is increasing the demand for agricultural tractor tires. The demand from replacement end-users dominates the agricultural tractor tires market in each geography. This is mainly due to the number of registered agriculture tractors remains lower than the number already in use. Radial-ply tires are the most recent ones and are more efficient than bias-ply tires. The demand for radial-ply tires is likely to come from developed countries such as Europe and North America, where the demand for technical advanced tires is high. The demand for high HP tractors is witnessed in developed geographies, especially European countries. Apart from these region, the demand for high HP vehicle is also increasing in Latin America, particularly Brazil and Argentina. High HP increases the demand for technically advanced agricultural tractor tires. Mainly wide and large tires are used in high HP vehicles. Hence, the increasing demand of high HP vehicles is one of the key drivers of the market. Today's generation of agriculture tires are highly engineered and are more capable of carrying more weight, efficient, and leave less of an impact on the terrain than before. With the help of LSW technology, the inner wheel diameter is increased while keeping the same outer diameter. This formation improves the performance by reducing the height of the sidewall of the tire. This shows that the advancement in agricultural tractor tires technology is one of the latest trends, which is going to drive the market in the upcoming years. Other emerging trends included in the report are growing demand for green agriculture tractor tires and increasing demand for wider agricultural tires. The report includes market analysis of different regions such as North America, Latin America, APAC, MEA, and Europe. It outlines the major market shareholders and the market size analysis of all regions. In terms of unit sales, in 2016, APAC was the largest market, whereas North America and Europe contributed 14.57% and 12.01%, respectively to the global market. The contribution of geographies will remain steady till 2022. In 2022, APAC is expected to account for more than 71% of the overall market share, whereas the share of North America is expected to decline. However, Africa is the fastest growing market, registering a CAGR of more than 8%, followed by APAC during the forecast period. In terms of revenue, North America is expected to have the largest market share in 2022. - * Email


This Weeks Headlines - Past 7 Days

Monday, October 16, 2017
ChemSpec is now a distributor for the Dispersix brand of HCR silicone processing additives
Covestro to expand capacity of thermoplastic polyurethane at West Virginia facility
Goodyear increases dividend by 40% on common shares
Cooper Tire to present at the Baird 2017 Global Industrial Conference
Shin-Etsu to invest $21.3 million to expand production capacity of Akron plant

Friday, October 13, 2017
Goodyear Blimp Wingfoot Two embarks on a 2,600-mile cross-country journey
Book of the day - Fatigue, Stress and Strain of Rubber Components, by Judson Bauman
Evonik is raising the prices for its isophorone diamine
Dow introduces new Vorasurf polyurethane additives
Ashland announces price increase for maleic anhydride in North America

Thursday, October 12, 2017
Tire Industry Association announces that online registration is now open for the 63rd Annual Off-the-Road Conference
Global roof coatings market forecast to reach $1.68 billion by 2023
Global silicone coatings market forecast to reach $6.81 billion by 2025
AkzoNobel develops novel technology platform to manufacture a wide range of ethylene amines
Freudenberg signs final agreement to acquire Playtex household gloves in the US

Wednesday, October 11, 2017
Camso acquires Stanley Industrial Tire
U.S. Tire Manufacturers Association celebrates Manufacturing Day
Songwon commissions second production line for thermoplastic urethanes in South Korea
Global tractor tires market is forecast to grow at a CAGR of 5.06% through 2022
Yokohama's Mississippi facility plants 2000 trees during Forever Forest event

Tuesday, October 10, 2017
International Elastomer Conference opens today in Cleveland, Ohio
Cooper Tire & Rubber to release third quarter results
General Motors to discuss the use of sustainably sourced rubber at COMMIT!Forum
Lanxess to cease production of base oils at its Ankerweg site in the Netherlands
Dow Corning Silicones announces the new brand name of DOWSIL
Global mechanical test equipment market to grow at a CAGR of 5.87% through 2021




Todays Headlines



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