GLOBAL FARM TRACTOR TIRES MARKET

KEY FINDINGS

• World demand for tires is projected to rise 4.1 percent per year to 3.0 billion units in 2019. In terms of value, tire sales are estimated to advance 7.0 percent per annum to $258 billion in 2020.
• About 34% of European farmers are eager for quality tires that will adapt to the weather and the condition of the tires in different terrains.
• Currently, manufacturers are facing capacity constraints and dwindling rubber supplies in some countries due to strong Chinese market demand are causing tire shortages, particularly in South America.
• The Michelin Group is committed to making its tires 100% sustainable by 2050. The company initially announced in 2018 that by 2048 all of its tires will be manufactured using 80% sustainable materials and 100% of its tires will be recycled.

 

 

INTRODUCTION

Modern agriculture requires the use of larger machinery and equipment. The trend towards total mechanization of farm operations makes the cost of machinery and equipment a major portion of the total farm expenses.

 

 

 

Recent developments in the design of agricultural tractors and off-road vehicles in general, and the increasing concerns about energy savings, soil conservation and safety have underlined the need for extending the general knowledge and understanding of agricultural tire behaviour.

 

FARM TRACTOR TIRES MARKET DYNAMICS

 

SI No	Timeline	Developments
1	Q4-2021	Kirby tires from England expanded its presence in Europe by opening a new warehouse at Dublin, to increase the stock keeping units of AGRI STAR II and other Kirby tires. The new warehouse establishment also boosts the company’s role as exclusive partner of Yokohama Off-Highway Tires Alliance brand.
2	Q4-2021	The Increased flexion (IF) and Very High flexion (VF) are the efficient radial tires with longer wear. The IF and VF tires can withstand more load with less inflation pressure such as IF tires can carry up to 20 % more load at same radial inflation pressure, whereas VF tires can carry upto 40% more load with same standard radial inflation pressure
3	Q4-2021	Radial tyres market share is increased for its better performance and the radial tires are the future of tyres that deliver better fuel economy and it is useful for maximizing traction and carrying heavy loads in the field.
4	Q3-2021	BKT Industries opened a new manufacturing plant at Waluj, India with an investment of $56 million. The plant started its production to produce tyres for agricultural and industrial purposes and it has the manufacturing capacity of 30,000 metric tons per year.
5	Q1-2021	Auto parts distributor COPADEX expanded its partnership with Alliance Tire Group to become the official distributor in France in the aim to increase Alliance’s market share and make it a full distributor of Yokohama Off-Highway Tires.

 

Autonomous and electric tractors will bring about the need to re-evaluate tire designs. In some cases, greater emphasis will be placed on durability over tire handling and performance.

 

Smart tire solutions with advanced sensing and reporting functions will also be needed as well. New tire designs will likely be an evolution existing technology which build on the benefits of proven solutions.   

 

With recent developments, damage/puncture sensing with auto repairing tires and sensor-equipped tires in the field to measure and map compaction layers for tillage are in trend.

 

When a tractor driving over a field of varying soil types and moisture conditions. To reduce slippage, tires will automatically sense slippage and adjust the inflation and tread for optimum traction in real-time to boost productivity.

 

Currently, there are very few next-generation smart applications in industrial tires, but this is expected to change rapidly in the next 5 years.

 

FARM TRACTOR TIRES MARKET SIZE AND FORECAST

The global tractor tire market is estimated at $XX Billion in 2020 and growing at XX% CAGR till 2025.

 

RECENT TRENDS

SI No	Timeline	Company	Developments
1	Q3-2021	Balkrishna Industries	BKT Tires introduced Agrimax Fortis tractor tires, designed for rock covered areas. The tire offers good traction on uneven terrain and a high flotation capacity and is capable of withstanding stresses from rocks, sharp stones and tears.
2	Q3-2021	Ceat	Ceat introduced a new range of its Vardhan tyres series of 3 variants based on sizes, in both front and rear wheel tractor tyres. The front tyre is a four rib tyre, offers high traction and grip with better load distribution. Vardhan rear tyres are designed with wide thread for larger footprints and increases load carrying capacity with less slippage.
3	Q3-2021	Yokohama Off-Highway Tires	Yokohama Off-Highway Tires (YOHT) subsidiary Alliance Tire Company introduced the new sizes of tires, to increase its portfolio in the agriculture segment. The new tires of Alliance 363 VF for tractors with flagship VF technology, comes with the new available size VF 710/60R34.
4	Q2-2021	Balkrishna Industries	Bala Krishna Tyres continued its production of tyres in its manufacturing plants, to operate at near full capacity during the second wave of pandemic, to avoid supply disruptions or shipments.
5	Q2-2021	Ceat	Ceat introduced Spraymax VF, designed with innovative VF technology for self propelled sprayers that can carry up to 40 percent more load with standard radial pressure or same load at 40% lower pressure.

 

RECENT LAUNCH 

Apollo Tyres has launched the Virat series of next-generation agricultural tyres in Chandigarh, Northern India, in the presence of farmers and business partners.

 

The all-rounder tractor tyres are said to offer “industry-best traction” and have a unique design to deliver a high degree of performance to vehicles utilised in the agricultural and haulage sectors.

 

The Virat tyre, which is available in front and rear fitments, has 20 lugs to provide a strong grip, and more rubber in the tire’s wearing zone results in even wear and a longer service life when used in both soft and hard soil.

 

The latest tyre from the firm also features a new lug design, distinct lug geometry, and new generation aesthetics. The curved lug geometry and a rounder groove profile near the tire’s shoulder allow for faster mud evacuation from the bucket area between lugs, which improves grip. The tyre has a twin tapered lug design to lessen the risk of punctures and vehicle downtime.

 

Hercules Tires has introduced its first farm tyre. The AG-TRAC RT45 Radial R-1W from Hercules Tires is designed for optimal traction in the field.  The initial launch will comprise ten SKUs with wheel widths ranging from 28 to 46 inches, covering the most common 4WD and MFWD tractor models. 

 

Mud Diffusers, which aid in breaking mud and debris free from the tyre for optimal pulling force, are included in the new Hercules Tires AG-TRAC RT45. Multi-angle lugs provide a smooth ride between fields while improving handling and reducing vibration.

 

Optimized footprint, which helps to reduce soil compaction thanks to the sturdy flexible casing, and a 20% deeper tread than the conventional R1 that provides low slip, great grip, and long tyre life.

 

 

COMPETITIVE LANDSCAPE

 

SI No	Timeline	Company	Developments
1	Q4-2021	Balkrishna Industries	Balkrishna Industries (BKT) plans to expand its production capacity by investing in all of its manufacturing plants. The BKT aims in the growth of the company by investing to maximize production, improve quality and to modernize equipment.
2	Q3-2021	Yokohama Rubber Co., Ltd.	Yokohama Rubber to invest $171 million in its Yokohama Off-Highway Tires to double the plant’s future production capacity at Visakhapatnam, India which is currently under construction and expected to start its operations from the first quarter of 2023.
3	Q2-2021	Balkrishna Industries	BKT Industries’ revenue grew by 31% from the 2Q of previous year, reaching up to INR 2,072 crore in the second quarter of 2022.

 

The Goodyear agricultural tire features large circumferential grooves with lateral blading, thus enhancing performance in wet operating conditions. Higher TKPH/TMPH (ton-kilometre-per-hour/ton-miles-per-hour) rating* will help support higher average operating speed and long-distance travel.

 

John Deere’s three largest 8R-Series tractors come with Goodyear Super Single Low Sidewall (LSW) Technology tires for the model year 2021 when equipped with Independent Link Suspension.

 

Kubota Introduces L60LE Series Deluxe Compact Tractors. To customize the tractor, Kubota offers a wide variety of tire tread types and sizes. For example, agricultural tires are available for heavy-duty fieldwork requiring maximum traction; turf tires are designed for mowing with minimal ground disruption; and industrial tires are designed for loader work requiring a more everyday-use style tread.

 

Continental’s very high-flexion (VF) tires feature a unique hybrid tread design which can be used for lower pressure in the field and at a higher pressure for highway transport while carrying the same load. The company says when the tire is fitted to tractors with onboard air compressors, the pressure of the tire can be monitored and adjusted by the operator without having to leave the cab.

 

CEAT Specialty Tires, Yieldmax Agricultural Radial Tire is designed for the combined harvester market. Its main purpose is to support massive machinery and provide a higher load capacity. Yieldmax is engineered and designed to ensure minimum impact on soil.

 

COMPANIES PROFILED

• John Deere
• Mahindra Tractors
• New Holland Agriculture
• Swaraj
• TAFE
• Sonalika
• Escorts
• Massey Ferguson
• Kubota
• VST
• Deutz Fahr
• Case IH
• CLAAS
• STEYR
• Challenger
• Bridgestone Corp.
• Michelin SCA
• Goodyear Tire & Rubber Co.
• Continental AG
• Nokian Tyres
• Balkrishna Industries Ltd
• Yokohama Rubber Co.
• Titan Tire Corp.
• Alliance Tire Co.
• MRF Ltd
• Apollo Tyres Ltd
• Magna Tyres