The farm tire market in India accounts for about 80% share of the overall OTR (Off-the-Road) tire market. Farm tires comprise Tractor Front, Tractor Rear and Tractor Trailer tires. Tractor Front is the most dominating farm tire segment in volume terms, followed by Tractor Rear tires and Tractor Trailer tires. While both Tractor Front and Rear tires are sold in OEM and replacement segments, Tractor Trailer tires are sold only in replacement market, with unorganized Trailer manufacturers assembling these tires at their units. Robust growth in domestic tractor sales and exports, rise in mechanized farming, usage of tractors in horticulture, floriculture, hoe farming, etc., coupled with increasing tractor usage in urban and semi urban centers in infrastructure and construction activities, and large tractor fleet size are the major reasons boosting the country's farm tire market.
According to the TechSci Research report "India Tractor and Trailer Vehicles and Tractor and Trailer tire Market Forecast and Opportunities, 2019," the farm tire market in India witnessed a CAGR of 9% during 2009-13. Major reasons behind this growth include the country's large tractor fleet, continuing growth in tractor sales, rise in mechanization level of farming, tax rebate given by many state governments in the country on the purchase of agricultural products. Tractor and tractor trailer companies in India manufactured around 0.8 million tractors and tractor trailers in 2013 to address the increasing demand for the same in agriculture and semi urban civil applications in the country. Though the farm tire demand continues to grow in India, level of radialization in Farm tires is still at a very nascent stage as majority of tires sold account for bias based farm tires. Currently, all the Tractor Front and Tractor Trailer tires sold in India are based on bias tire technology.
"Demand for tractor tires is directly co-related to the existing tractor/trailer fleet and the growth being witnessed for tractors/trailers. Increasing production capacity of tractor manufactures coupled with growing penetration of tractors and trailers in infrastructure and construction sectors of semi urban and rural areas are driving tractor/trailer market in India, thereby benefitting the country's farm tire market." says Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Tractor and Trailer Vehicles and Tractor and Trailer tire Market Forecast and Opportunities, 2019" has evaluated the future growth potential of India Farm tire industry and provides statistics and information on market structure, exports and future growth of India's Farm tire industry. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides all this, the report identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in Farm tire industry in India.