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Europe Agricultural Tires Market Size (2024 - 2029)

The Europe Agricultural Tires Market is projected to experience significant growth over the forecast period, driven by the agricultural sector's pivotal role in land use across the European Union. The implementation of initiatives like the European Green Deal and CEMA AgriTech 2030 plans underscores the region's commitment to advancing agricultural practices, which in turn fuels the demand for agricultural tires. Economic and environmental factors, along with high farm consolidation activities, have notably impacted the agricultural machinery market, thereby increasing the need for agricultural tires. These dynamics are prompting companies to focus on new product launches to meet the evolving market demands.

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Market Size of Europe Agricultural Tires Industry

Europe Agricultural Tires Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 2.21 Billion
Market Size (2029) USD 4 Billion
CAGR (2024 - 2029) 5.32 %
Market Concentration High

Major Players

Europe Agricultural Tires Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Agricultural Tires Market Analysis

The Europe Agricultural Tires Market size is estimated at USD 2.21 billion in 2024, and is expected to reach USD 4 billion by 2029, growing at a CAGR of 5.32% during the forecast period (2024-2029).

Over the medium term, the agricultural sector of Europe has been one of the key land users and thus shapes maximum landscapes in several rural areas. In addition, agricultural land plays the most pivotal role in land use patterns across all the countries of the European Union. According to the European Energy Agency, the European Green Deal set the target that, by 2030, 25% of the EU’s agricultural area should be under organic farming.

Furthermore, the European government has been implementing CEMA AgriTech 2030 plans for bringing better advancement in the European agriculture industry. The AgriTech 2030, which was issued by the government in 2019, maps out its focus on witnessing the future of Europe's industry for its advanced agricultural machinery and solutions towards 2030 end. Under the plans, the government shall remain consistent with CEMA's mission in order to bring better-shared expertise and further shape the EU legislation for benefiting sustainable farming and the agricultural machinery sector.

Owing to a number of economic and environmental factors (direct and indirect impact on the environment due to different production methods and subsidies provided by the European Union to the farmers), high farm consolidation activities in the past few years affected the agricultural machinery market to a significant extent, especially in Europe, driving the demand for agricultural tires.

Farm consolidation necessitates the use of fertilizing and planting machinery to obtain sufficient and proper fertilizing of the crops in larger land structures, thereby facilitating the demand for agricultural tires and making companies focus on new launches. In July 2023, Yokohama Off-Highway Tires’ (YOHT) flagship brand Alliance recently released new sizes of the proven Agriflex+ 372 radial tire for tractors and harvesters in Europe. Thus, the above factors contribute to the market demand.

Europe Agricultural Tires Industry Segmentation

The agricultural tires are the outer covering of tractor wheels, which are in direct contact with land. In addition, these agricultural ties are designed to provide better soil compaction in order to reduce stress.

The European agricultural tire market has been segmented by application type, sales channel type, and Country. By Application Type, the market has been segmented into tractors, combine harvesters, sprayers, trailers, loaders, and other machinery. By sales channel, the market has been segmented into OEM and replacement/aftermarket. By Country, the market has been segmented into Germany, the United Kingdom, France, Italy, and the Rest of Europe. 

The report offers a forecast and market size for value (USD) and volume (units).

By Application Type
Tractors
Combine Harvester
Sprayers
Trailers
Loaders
Other Machinery
By Sales Channel
OEM
Replacement/Aftermarket
Geography
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
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Europe Agricultural Tires Market Size Summary

The European agricultural tires market is poised for significant growth over the forecast period, driven by the region's robust agricultural sector and the increasing adoption of advanced farming techniques. The market is shaped by the European Union's focus on sustainable farming practices, as evidenced by initiatives like the European Green Deal and CEMA AgriTech 2030 plans. These initiatives aim to enhance agricultural productivity and sustainability, thereby boosting the demand for agricultural machinery and, consequently, agricultural tires. The trend of farm consolidation has further fueled this demand, as larger land structures require more sophisticated fertilizing and planting machinery, which in turn necessitates the use of specialized tires. Companies are responding to this demand with new product launches and expansions in their tire portfolios, catering to both original equipment manufacturer (OEM) and aftermarket segments.

The market is characterized by a strong presence of established players who are leveraging strategies such as product innovation, collaborations, and strategic acquisitions to maintain their competitive edge. The replacement tire segment is expected to dominate the market due to its cost-effectiveness and ease of availability compared to OEM tires. Germany and France are key players in the agricultural machinery sector, with Germany being a major manufacturer and exporter, which further drives the demand for agricultural tires in the region. The market's growth is supported by ongoing developments in agricultural machinery and tire technology, with companies like Bridgestone, Continental, and Yokohama leading the charge in offering innovative tire solutions. As consumer preferences shift towards more economical and reliable aftermarket options, the market is expected to continue its upward trajectory, supported by the region's strong agricultural base and technological advancements.

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Europe Agricultural Tires Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Technological Advances in Agricultural Equipment

    2. 1.2 Market Restraints

      1. 1.2.1 Low Quality of Duplicate Tyres

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value and Volume)

    1. 2.1 By Application Type

      1. 2.1.1 Tractors

      2. 2.1.2 Combine Harvester

      3. 2.1.3 Sprayers

      4. 2.1.4 Trailers

      5. 2.1.5 Loaders

      6. 2.1.6 Other Machinery

    2. 2.2 By Sales Channel

      1. 2.2.1 OEM

      2. 2.2.2 Replacement/Aftermarket

    3. 2.3 Geography

      1. 2.3.1 Europe

        1. 2.3.1.1 Germany

        2. 2.3.1.2 United Kingdom

        3. 2.3.1.3 France

        4. 2.3.1.4 Italy

        5. 2.3.1.5 Rest of Europe

Europe Agricultural Tires Market Size FAQs

The Europe Agricultural Tires Market size is expected to reach USD 2.21 billion in 2024 and grow at a CAGR of 5.32% to reach USD 4 billion by 2029.

In 2024, the Europe Agricultural Tires Market size is expected to reach USD 2.21 billion.

Europe Agricultural Tires Market Report Snapshots

Europe Agricultural Tires Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)