Radial Agricultural Tire Market ? Poised for Steady Growth in the?Future

Posted by RASHMI on March 18th, 2019

Radial tires are globally ruling the automotive market. However, in agricultural machinery market, the argument of whether bias or radial is still open owing to the advantages and limitations both offer. Bias tires can operate at low speed and are less susceptible to damage from rocky land conditions. Also, they are very less expensive than radial agricultural tires and therefore currently dominate the radial agricultural tire market.

On the other hand, radial agricultural tires are expensive. But they offer 10-15% more traction than bias tires, thus improving efficiency by saving fuel. Also, they have a longer tread life, better wear durability and are responsible for a smoother ride. Owing to these factors, more and more farmers are switching to radial agricultural tires. Thus, their demand is expected to grow during the forecast period in different countries across the world.

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Increasing demand for food led by rising population is anticipated to be a major driver for the radial agricultural tire market during the forecast period. Increasing population is expected to raise the need for agricultural products in the next few years.

Since mechanization is the only way to increase agricultural productivity and meet requirements of growing population; demand for agricultural machinery including tractors and harvesters is anticipated to surge significantly during the forecast period, thus facilitating the growth of radial agricultural tires. Furthermore, encouraging government policies such as subsidies on agricultural products and agricultural machinery are also anticipated to trigger the adoption of radial agricultural tires across the world.