The
overall tire industry is segmented into truck tires, light vehicle
and passenger car tires, and specialty tires. Farm tires form a
sub-segment of the specialty tires market and are used by machines
and vehicles engaged in farm activities. Sprayers, tractors,
harvesters, and combines are some of the machines in which farm tires
are utilized.
Browse
the full U.S. and Global Farm Tire Market report at:
The
farm tire industry report studies at length the global as well as the
U.S. market and offers sharp insights into the factors that govern
the growth of the market.
Overview
of the global and U.S. farm tire market
The
market report indicates that the as far as design innovation and
technological developments go, the U.S. and global market for farm
tires will both witness exceptional growth.
Global
analysis
The
farm tire market can be segmented into original equipment (OE) and
replacement farm tires. The market is further bifurcated into bias
and radial types of farm tire. The overall farm tire market is
susceptible to volatile commodity and raw material prices, erratic
weather conditions, and high inventory levels.
With
the increase in the weight and size of farming machinery, farm tire
manufacturers have been making larger tires to bear the additional
weight. The expanding world population and mounting demand for food
products are two of the most significant factors boosting the
agriculture or farm tire market. However, rapid urbanization and
industrialization has adversely affected the availability of
potential agricultural land, converting farm regions into
construction sites for commercial purposes. This has hampered the
growth of the farm tire market in several emerging economies.
Get
Free Sample Research Report of U.S. and Global Farm Tire Market for
In-Depth Information at:
U.S.
farm tire market outlook
The
year 2013 had been good for the farm tires market in the U.S., even
though sales were slow at the start of the year. As far as farm tire
shipments are concerned, the market battled weather hazards and made
the most of late harvests and planting. The fourth quarter shipments
of farm tire in the U.S. covered up for the initial hiccups. The
report indicates that over the next few years, farm tire shipments
are likely to increase, owing to a rise in the industrial production
index and the overall gross domestic product (GDP). Moreover,
manufacturers of farm tires have been giving added importance to
design developments, which is expected to further boost the regional
market. The constant evolution of machinery and farming techniques
has forced manufacturers to develop novel ranges of farm tires.
Between
the original equipment and replacement segments, the latter held a
larger share of the farm tire market. On the other hand, between bias
ply and radial farm tires, the former has been dominating the overall
market. However, this trend is expected to change soon, owing to a
growing demand for radial tires. Radial tires have the ability to
reduce compaction and handle heavier loads. As a result,
manufacturers have switched to increasing the production of radial
tires to keep up with the surging demand.
Companies
mentioned in the research report
The
players profiled in the global and U.S. farm tire market are
Goodyear, Cooper Tire, Continental Tires, Michelins, Titans, and
Bridgestone.
Apart
from these, there are numerous other vendors dominating this space:
Balkrishna Industries Ltd., Trelleborg Wheel Systems S.p.A., Carlisle
Companies Incorp., Firestone, McCreary Tire and Rubber Co., Compagnie
Generale des Etablissements Michelin SCA, Alliance Tire Group, and
Harvest King Tires. Among these, Firestone dominates the farm tire
market globally and domestically.
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