The Flexion Tires Market is expected to reach US $14.85 billion by 2027, thanks to growth in the very high flexion tire segment. The report analyzes market dynamics by region and end-user industries.Flexion Tires Market Overview:
The flexion tires market was valued at US $10.12 Bn. in 2020, and it is expected to reach US $14.85 Bn. by 2027 with a CAGR of 5.63% during the forecast period. Tractors with flexion tyres can carry the same load with 40% less air pressure. These tyres have numerous advantages, including a longer footprint, less soil compaction, and increased yields. The tyre lugs are also designed at a 45-degree angle to make moving dirt and mud considerably easier, as well as to decrease tyre slippage in all situations. The usage of flexion tyres is likely to be driven by farm mechanisation and technological developments in farming gear. The use of advanced tyres, such as flexion tyres, is expected to be uplifted by a global shift from subsistence to commercial farming.To know about the Research Methodology :- Request Free Sample Report 2020 is considered a base year however 2020's numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Flexion Tires Market Dynamics:
Growing agriculture sector across the globe:
The continuously rising population across the major economies like China, Germany, the United States, and others is directly increasing the requirement of food, which is leading to the growth of agricultural activities. Thus, surging agricultural activities are expected to drive the need for tractors therefore the sales of flexion tires is expected to rise over the forecast period.Advantages of flexion tires, especially in farming:
The increasing focus on the development of new and advanced farming technology has been a boon for the growing use of flexion tires in the tractors used for farming. Flexion tires provides advantages like bigger footprint, less soil-compaction, bearing equal pressure up to 20% to 40%, increased flexibility, and better crop yield, which directly results into profit for farmers. Thus, important advantages of flexion tires over standard tires are expected to drive its use and market growth over the forecast period.High cost of flexion tires:
The cost of flexion tires across the globe is approximately 15% to 20% higher than cost of standard tire. Thus, the higher cost of flexion tires is the only key factor expected to hinder growth of the market over the forecast period.Top 10 Tire Manufacturing Companies in Terms of Revenue 2020:
Based on Type, the flexion tires market is segmented into two types as follows, Increased Flexion (IF) Tire, and Very High Flexion (VF) Tire. In 2020, the very high flexion segment was dominant and held xx% of the overall market share in terms of revenue. Very high flexion tires are being widely used in the agricultural sector around the world, and their growing applications in tractors are driving the market growth. This segment is expected to dominate the market over the forecast period concerning its increasing use in the tractors and harvesters used for agricultural purpose.
Flexion Tires Market Segment Analysis:
Based on Application, the flexion tires market is segmented into two types as follows, Tractors, and Harvesters. In 2020, the tractors segment was dominant and held more than 65% of the overall market share in terms of revenue. The reason behind the dominance was the increased agricultural activities demanding for a greater number of tractors used during the lockdown period. During the COVID-19 pandemic, people were locked down and agricultural activities were counted as essential services, which helped to meet the rising demand for food during the strict quarantine period.
Flexion Tires Market Regional Insights:
In 2020, the Asia Pacific region was dominant and held more than xx% of the overall market share in terms of revenue. The growth of the flexion tires market in these regions has been supported by the presence of major players like MRF, Ceat Tyres, Michelin, and others in the production of tires. An increasing population demanding increased food consumption has led to the growth of agricultural activities, which has directly increased the sales of flexion tires in this region. The North American market held a considerable xx% of the overall market share in 2020 and is expected to grow at a CAGR of approximately xx% during the forecast period. The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.Flexion Tires Market Scope: Inquire before buying
Flexion Tires Market, by Region
• North America • Europe • Asia Pacific • The Middle East and Africa • South AmericaFlexion Tires Market Key Players
• Michelin • Bridgestone • Continental • Dunlop • Goodyear • Pirelli • Hankook • Yokohama • Linglong Tire • Sumitomo Rubber Industries • Madras Rubber Factory • Trelleborg AB • Firestone Tire & Rubber Company • Alliance Tire Group • Apollo Tyres • Ceat Tyres • OthersFrequently Asked Questions:
1. What is the forecast period considered for the Flexion Tires market report? Ans. The forecast period for the flexion tires market is 2021-2027. 2. Which key factors are hindering the growth of the Flexion Tires market? Ans. The higher cost of flexion tire compared to standard tire is the only key factor expected to hinder the growth of the market during the forecast period. 3. What is the compound annual growth rate (CAGR) of the Flexion Tires market for the next 6 years? Ans. The flexion tires market is expected to grow at a CAGR of 5.63% during the forecast period (2021-2027). 4. What are the key factors driving the growth of the Flexion Tires market? Ans. The increased agricultural activities and advantages of flexion tire compared to standard tire are the key factors expected to drive the growth of the market during the forecast period. 5. Which are the worldwide major key players covered for the Flexion Tires market report? Ans. Michelin, Bridgestone, Continental, Dunlop, Goodyear, Pirelli, Hankook, Yokohama, Linglong Tire, Sumitomo Rubber Industries, Madras Rubber Factory, Trelleborg AB, Firestone Tire & Rubber Company, Alliance Tire Group, Apollo Tyres, Ceat Tyres, and Others.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Flexion Tires Market Size, by Market Value (US $Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Flexion Tires Market 3.4. Geographical Snapshot of the Flexion Tires Market, By Manufacturer share 4. Global Flexion Tires Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porter Five Forces Analysis 4.1.6.1. The threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Flexion Tires Market 5. Supply Side and Demand Side Indicators 6. Global Flexion Tires Market Analysis and Forecast, 2020-2027 6.1. Global Flexion Tires Products Market Size & Y-o-Y Growth Analysis. 7. Global Flexion Tires Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 7.1.1. Increased Flexion (IF) Tire 7.1.2. Very High Flexion (VH) Tire 7.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 7.2.1. Tractors 7.2.2. Harvesters 8. Global Flexion Tires Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Flexion Tires Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 9.1.1. Increased Flexion (IF) Tire 9.1.2. Very High Flexion (VH) Tire 9.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 9.2.1. Tractors 9.2.2. Harvesters 10. North America Flexion Tires Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Flexion Tires Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 11.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 12. Canada Flexion Tires Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 12.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 13. Mexico Flexion Tires Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 13.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 14. Europe Flexion Tires Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 14.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 15. Europe Flexion Tires Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Flexion Tires Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 16.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 17. France Flexion Tires Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 17.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 18. Germany Flexion Tires Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 18.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 19. Italy Flexion Tires Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 19.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 20. Spain Flexion Tires Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 20.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 21. Sweden Flexion Tires Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 21.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 22. CIS Countries Flexion Tires Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 22.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 23. Rest of Europe Flexion Tires Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 23.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 24. Asia Pacific Flexion Tires Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 24.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 25. Asia Pacific Flexion Tires Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Flexion Tires Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 26.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 27. India Flexion Tires Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 27.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 28. Japan Flexion Tires Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 28.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 29. South Korea Flexion Tires Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 29.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 30. Australia Flexion Tires Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 30.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 31. ASEAN Flexion Tires Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 31.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 32. Rest of Asia Pacific Flexion Tires Market Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 32.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 33. Middle East Africa Flexion Tires Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 33.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 34. Middle East Africa Flexion Tires Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Flexion Tires Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 35.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 36. GCC Countries Flexion Tires Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 36.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 37. Egypt Flexion Tires Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 37.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 38. Nigeria Flexion Tires Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 38.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 39. Rest of ME&A Flexion Tires Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 39.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 40. South America Flexion Tires Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 40.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 41. South America Flexion Tires Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Flexion Tires Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 42.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 43. Argentina Flexion Tires Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 43.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 44. Rest of South America Flexion Tires Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 44.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Flexion Tires Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Application, and R&D Investment 45.2.2. New Type Launches and Type Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment, and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures, and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Michelin 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Type Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Bridgestone 45.3.3. Continental 45.3.4. Dunlop 45.3.5. Goodyear 45.3.6. Pirelli 45.3.7. Hankook 45.3.8. Yokohama 45.3.9. Linglong Tire 45.3.10. Sumitomo Rubber Industries 45.3.11. Madras Rubber Factory 45.3.12. Trelleborg AB 45.3.13. Firestone Tire & Rubber Company 45.3.14. Alliance Tire Group 45.3.15. Apollo Tyres 45.3.16. Ceat Tyres 45.3.17. Others 46. Primary Key Insights