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The US Farm Tire Market Report: 2014 Edition
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Date: 04, April 2014 | Pages: 56
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Agricultural/farm tires are a sub-segment of specialty tires and are used for various farm vehicles such as tractors, combines, sprayers, trailers and harvesters. The year 2013 witnessed an increase in farm tire shipments in the US despite significant weather changes. The farm tire sales in 2013 were slow in the beginning of the year but fourth quarter shipments benefitted from late harvests and late planting. Due to reduction in prices of raw materials especially rubber, revenue from farm tire sales were relatively flat in 2013 compared to previous year.


The US farm tire market has two segments, replacement (RT) and original equipment (OE) farm tires, and is further categorized into radial and bias types. The replacement segment accounts for the maximum share of the total US farm tire market. Although most of the farm tires are bias ply but the trend is changing towards the usage of radial tires. The demand for radial tires, which are found to be more beneficial in reducing compaction and handling heavy load, has far outstripped supply for last few years. A full range of new farm tires have been developed in conjunction with major agricultural machine manufacturers in response to the continuous evolution of farming techniques. In the coming years, the shipments are estimated to improve due to technological and design developments as well as increase in overall GDP and industrial production index. Key issues affecting farm tire manufacturers include weather patterns, fluctuating commodity prices and high inventory levels.


Although there are number of companies engaged in the manufacturing of farm tires, Firestone enjoys a clear leadership in both the segments i.e. OE and RT. Other major players operating in the US farm tire industry include Goodyear, Michelin, Titan, BKT and Trelleborg.


The current report provides an overview of the US farm tire market. It discusses market size, segments, growth drivers, and challenges. The competitive aspects of the market are also highlighted and key players are profiled with their main business strategies.


By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.

 

1. Global Tire Market

 

1.1 Introduction
1.2 Market Size
1.3 Market Segmentation

 

1.3.1 Passenger Cars and Light Vehicles Tires
1.3.2 Truck Tires
1.3.3 Specialty Tires

 

1.4 Market Players

 

2. The US Tire Market

 

2.1 Market Size
2.2 Market Segmentation

 

2.2.1 Replacement Tires
2.2.2 Original Equipment Tires

 

2.3 Import of Tires
2.4 Distribution Channels

 

3. The US Farm Tire Market

 

3.1 Overview
3.2 Market Size
3.3 Market Segments

 

3.3.1 Replacement Farm Tire Market
-Market Volume
-Market Segmentation

 

3.3.2 Original Equipment Farm Tire Market
-Market Volume
-Market Segmentation

 

3.4 Market Players
-Replacement Market Share
-OE Market Share

 

4. Growth Drivers

 

4.1 Introduction of Mandatory Tire Performance Ratings
4.2 Increased Demand of Farm Equipment
4.3 Better Solutions in Tire Technology
4.4 Rise in Net Farm Income
4.5 Favorable Economic Growth
4.6 Rise in Chinese Imports

 

5. Key Issues

 

5.1 Price Fluctuations of Key Commodities
5.2 Seasonal in Nature
5.3 High Inventory

 

6. Company Profiles

 

6.1 Bridgestone Corporation

6.1.1 Business Description
6.1.2 Financial Overview
6.1.3 Business Strategies
-Development of New Technologies
-Expansion in Emerging Markets

 

6.2 Michelin

6.2.1 Business Description
6.2.2 Financial Overview
6.2.3 Business Strategies
-Establishing New Manufacturing Facilities
-Vertical Integration

 

6.3 Titan International, Inc.

6.3.1 Business Description
6.3.2 Financial Overview
6.3.3 Business Strategies
-Additional Strategic Acquisitions
-Long-Term Relationship with Customers

 

6.4 Trelleborg AB

6.4.1 Business Description
6.4.2 Financial Overview
6.4.3 Business Strategies
-Expansion of Industrial Segment

 

7. Market Outlook

 

7.1 Market Forecast
7.2 Forecast Methodology

7.2.1 Dependent and Independent Variables
7.2.2 Correlation Analysis
7.2.3 Regression Analysis

List of Charts

 

Global Tire Market Size by Value (2005-2012)
Global Tire Market Size by Volume (2009-2012)
Global Tire Sales by Segments (2012)
Global Tire Market Segmentation by End Use (2012)
Worldwide Specialty Tires Market Size (2009-2012)
Global Tire Market by Manufacturers (2012)
The US Total Tire Shipments (2008-2013)
The US Replacement Tire Sales (2008-2013)
The US Replacement Tire Sales by Type (2013)
Replacement Passenger Tires Brand Shares (2013)
Replacement Light Truck Tires Brand Shares (2013)
Replacement Medium/Heavy Truck Tires Brand Shares (2013)
Radial and Bias Rear Original Equipment Tire US Market Share (2008-2013)
Consumer Tires Distribution Channels in the US (2013)
Total Farm Tire Shipments in the US (2005-2013)
Total Replacement Farm Tire Shipments in the US (2007-2013)
Replacement Farm Tire Shipments in the US by Category (2009-2013)
Total OE Farm Tire Shipments in the US (2007-2013)
Total OE Farm Tire Shipments in the US by Category (2009-2012)
The US OE Rear Farm tire Market Shares (2013)
Retail Sales of Tractors and Combines by Volume in the US (2010-2013)
Market Segmentation of Farm Tractors by Volume Sold in the US (2013)
Total Net Farm Income in the US (2006-2013F)
Cash Receipts in Farm Sector in the US (2010-2013F)
Nominal GDP in the US (2006-2013)
Unemployment Rate in the US (2009-2013)
The US Consumer Tires Import from China (2008-2013)
The US Truck Tire Imports from China by Types (2013)
Prices of Raw Materials Used in Tire Manufacturing (2009-2013)
Bridgestone Corporation Net Sales by Segments (2013)
Bridgestone’s Tire Segment- Net Sales and Operating Income (2008-2013)
Michelin’s Revenues by Business Segments (2013)
Michelin’s Net Sales and Operating Income (2008-2013)
Titan’s Revenues by Business Segments (2013)
Titan’s Agricultural Segment Net Sales (2010-2013)
Trelleborg’s Revenues by Segments (2013)
Trelleborg’s Wheels Segment Net Sales (2008-2013)
The US Farm Tire Shipments Forecast (2013-2017F)

 

List of Tables

 

Worldwide Passenger Cars and Light Trucks Tire Market (2011-2013)
Worldwide Trucks Tire Market (2011-2013)
Specialty Tires Leading Players
The US Replacement Tire Shipments by Categories (2001-2013)
The US OE Tire Shipments by Categories (2001-2013)
Market Players in New Tires Sales in the US/Canada (2012 vs 2013)
The US: Tire Import Breakdown by Country (2012 vs 2013)
Number of Dealers and Outlets by Brands in the US (2013)
Market Shares of Players in Replacement Farm Tires Segment (2013)
Dependent & Independent Variables (2008-2013)
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output

1. Global Tire Market
Pages : 10
USD 350

1.1 Introduction

1.2 Market Size

1.3 Market Segmentation

 

1.3.1 Passenger Cars and Light Vehicles Tires
1.3.2 Truck Tires
1.3.3 Specialty Tires

 

1.4 Market Players

 

Figure 1.1: Global Tire Market Size by Value (2005-2012)
Figure 1.2: Global Tire Market Size by Volume (2009-2012)
Figure 1.3: Global Tire Sales by Segments (2012)
Figure 1.4: Global Tire Market Segmentation by End Use (2012)
Figure 1.5: Worldwide Specialty Tires Market Size (2009-2012)
Figure 1.6: Global Tire Market by Manufacturers (2012)

 

Table 1.1: Worldwide Passenger Cars and Light Trucks Tire Market (2011-2013)
Table 1.2: Worldwide Trucks Tire Market (2011-2013)
Table 1.3: Specialty Tires Leading Players

 
2. The US Tire Market
Pages : 7
USD 250

2.1 Market Size

 

2.2 Market Segmentation

 

2.2.1 Replacement Tires
2.2.2 Original Equipment Tires

 

2.3 Import of Tires

 

2.4 Distribution Channels

 

Figure 2.1: The US Total Tire Shipments (2008-2013)
Figure 2.2: The US Replacement Tire Sales (2008-2013)
Figure 2.3: The US Replacement Tire Sales by Type (2013)
Figure 2.4: Replacement Passenger Tires Brand Shares (2013)
Figure 2.5: Replacement Light Truck Tires Brand Shares (2013)
Figure 2.6: Replacement Medium/Heavy Truck Tires Brand Shares (2013)
Figure 2.7: Radial and Bias Rear Original Equipment Tire US Market Share (2008-2013)
Figure 2.8: Consumer Tires Distribution Channels in the US (2013)

 

Table 2.1: The US Replacement Tire Shipments by Categories (2001-2013)
Table 2.2: The US OE Tire Shipments by Categories (2001-2013)
Table 2.3: Market Players in New Tires Sales in the US/Canada (2012 vs 2013)
Table 2.4: The US: Tire Import Breakdown by Country (2012 vs 2013)
Table 2.5: Number of Dealers and Outlets by Brands in the US (2013)

 
3. The US Farm Tire Market
Pages : 7
USD 300

3.1 Overview

3.2 Market Size

3.3 Market Segments

 

3.3.1 Replacement Farm Tire Market
-Market Volume
-Market Segmentation

 

3.3.2 Original Equipment Farm Tire Market
-Market Volume
-Market Segmentation



3.4 Market Players
-Replacement Market Share
-OE Market Share

 

Figure 3.1: Total Farm Tire Shipments in the US (2005-2013)
Figure 3.2: Total Replacement Farm Tire Shipments in the US (2007-2013)
Figure 3.3: Replacement Farm Tire Shipments in the US by Category (2009-2013)
Figure 3.4: Total OE Farm Tire Shipments in the US (2007-2013)
Figure 3.5: Total OE Farm Tire Shipments in the US by Category (2009-2012)
Figure 3.6: The US OE Rear Farm tire Market Shares (2013)

 

Table 3.1: Market Shares of Players in Replacement Farm Tires Segment (2013)

 
4. Growth Drivers
Pages : 7
USD 150

4.1 Introduction of Mandatory Tire Performance Ratings
4.2 Increased Demand of Farm Equipment
4.3 Better Solutions in Tire Technology
4.4 Rise in Net Farm Income
4.5 Favorable Economic Growth
4.5 Rise in Chinese Imports

 

Figure 4.1: Retail Sales of Tractors and Combines by Volume in the US (2010-2013)
Figure 4.2: Market Segmentation of Farm Tractors by Volume Sold in the US (2013)
Figure 4.3: Total Net Farm Income in the US (2006-2013F)
Figure 4.4: Cash Receipts in Farm Sector in the US (2010-2013F)
Figure 4.5: Nominal GDP in the US (2006-2013)
Figure 4.6: Unemployment Rate in the US (2009-2013)
Figure 4.7: The US Consumer Tires Import from China (2008-2013) Figure 4.8: The US Truck Tire Imports from China by Types (2013)

 
5. Key Issues
Pages : 2
USD 100

5.1 Price Fluctuations of Key Commodities
5.2 Seasonal in Nature
5.3 High Inventory

 

Figure 5.1: Prices of Raw Materials Used in Tire Manufacturing (2009-2013)

 
6. Company Profiles
Pages : 11
USD 150

6.1 Bridgestone Corporation

 

6.1.1 Business Description
6.1.2 Financial Overview
6.1.3 Business Strategies
-Development of New Technologies
-Expansion in Emerging Markets

 

6.2 Michelin

 

6.2.1 Business Description
6.2.2 Financial Overview
6.2.3 Business Strategies
-Establishing New Manufacturing Facilities
-Vertical Integration



6.3 Titan International, Inc.

 

6.3.1 Business Description
6.3.2 Financial Overview
6.3.3 Business Strategies
-Additional Strategic Acquisitions
-Long-Term Relationship with Customers



6.4 Trelleborg AB

 

6.4.1 Business Description
6.4.2 Financial Overview
6.4.3 Business Strategies
-Expansion of Industrial Segment



Figure 6.1: Bridgestone Corporation Net Sales by Segments (2013) Figure 6.2: Bridgestone’s Tire Segment- Net Sales and Operating Income (2008-2013)
Figure 6.3: Michelin’s Revenues by Business Segments (2013)
Figure 6.4: Michelin’s Net Sales and Operating Income (2008-2013)
Figure 6.5: Titan’s Revenues by Business Segments (2013)
Figure 6.6: Titan’s Agricultural Segment Net Sales (2010-2013)
Figure 6.7: Trelleborg’s Revenues by Segments (2013)
Figure 6.8: Trelleborg’s Wheels Segment Net Sales (2008-2013)

 
7. Market Outlook
Pages : 5
USD 150

7.1 Market Forecast

7.2 Forecast Methodology

 

7.2.1 Dependent and Independent Variables
7.2.2 Correlation Analysis
7.2.3 Regression Analysis

 

Figure 7.1 The US Farm Tire Shipments Forecast (2013-2017F)

 

Table 7.1 Dependent & Independent Variables (2008-2013)
Table 7.2 Correlation Matrix
Table 7.3 Model Summary – Coefficient of Determination
Table 7.4 Regression Coefficients Output

 
 
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