About Agriculture Tires
Tires are an integral component of automobiles and are manufactured using raw materials such as natural rubber, nylon tire cord fabric, and carbon black. Rubber chemicals and synthetic rubber, including styrene-butadiene rubber and poly-butadiene rubber, are also used in manufacturing tires. Agriculture tires are used in different agriculture vehicles and equipment such as tractors, sowers, and harvesters. The use of advanced equipment has had a significant improvement on crop yield and hence, is leading to cultivators and farmers increasingly using agriculture vehicles and equipment.
The agriculture tires market in Brazil is one of the fastest growing tire markets in the world. Agriculture tire market is a derived market and the demand depends directly on agriculture. Brazil is one of the leading producers of a variety of agriculture commodities such as coffee, sugarcane, and oranges. Brazil is the epicenter for Latin America's agricultural activities and is one of the few countries that is still capable of increasing its area under cultivation. The potential of Brazil's agricultural sector shows that there is still a huge untapped market for agriculture equipment that would enable farmers to improve the quality and yield of crops and reduce their costs. There are a number of wide agriculture farms that employ close to 500 workers and these such farms accounts for more than 35 percent of employment within the industry. As the farm sizes are huge, there is possibility that there would be a need for bigger machines as in the machines with bigger tire sizes.
TechNavio's analysts forecast the Agriculture Tires market in Brazil to grow at a CAGR of 1.29 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Agriculture Tires market in Brazil for the period 2015-2019. The Agriculture Tires market in Brazil can be segmented into two based on application: Tractors and Harvesters. To calculate the market size, the report considers the combined sales of products in these two segments.
TechNavio's report, the Agriculture Tires Market in Brazil 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the landscape of the Agriculture Tires market in Brazil and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Agriculture Tires Market in Brazil 2015-2019
Technavio recognizes the following companies as the key players in the Agriculture Tires Market in Brazil 2015-2019: Balkrishna Industries, Bridgestone Corp., FATE, Michelin, Pirelli Titan Tire Corp. and Trelleborg.
Other Prominent Vendors in the market are: Alliance, Maggion, Mitas, Petlas and Rinaldi.
Commenting on the report, an analyst from Technavio’s team said: “Untapped emerging markets in countries such as China, India, Thailand, Vietnam, and Indonesia have immense potential to grow rapidly and contribute to the market share in the APAC in the future.”
According to the report, modernization of agricultural activities is leading to extensive use of farm equipment such as tractors and combines, and in turn is increasing demand for this market. As well as tractors, other agriculture equipment is being used, such as combine harvesters, mowers, implements, irrigation equipment, sprayers, and balers. Increase in demand for such equipment leads to increased demand for tires both in the OEM and replacement categories.
Further, the report states that the slowing Brazilian economy inhibits the growth of the Agriculture Tires market in Brazil.
Balkrishna Industries, Bridgestone Corp., FATE, Michelin, Pirelli Titan Tire Corp., Trelleborg., Alliance, Maggion, Mitas, Petlas, Rinaldi.