The US Farm Tire Market Report: 2013 Edition- Koncept Analytics

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Agricultural/farm tires are categorized under specialty tires and are used for farm vehicles such as tractors and harvesters. Rise in specialized farm equipments are driving demand for application …

Agricultural/farm tires are categorized under specialty tires and are used for farm vehicles such as tractors and harvesters. Rise in specialized farm equipments are driving demand for application specific and higher load capacity tires that reduce soil compaction.

The farm tire market in the US was comparatively down in 2012 due to economic uncertainty and severe drought conditions that affected crop productivity. This led many retailers to maintain heavy inventories throughout the selling season. Although it is expected that the demand will regain in 2013 as farmers receive additional farm income due to high commodity prices and crop insurance payouts. Moreover, new technological and design developments in farm machinery have resulted in further development of farm tires, larger in size and for diversified uses. However, fluctuating raw material prices and high inventory pose a challenge for the manufacturers and dealers in the industry's supply chain.

Competition among the US farm tire manufacturers is intense, with several domestic and international companies competing primarily on the basis of price, quality, customer service, design capability, and delivery time. Significant competitors in the US farm tire market include Bridgestone, Michelin, Titan-Goodyear, Firestone and BKT, among others. The farm tire companies are making heavy investments in their initiatives to expand capacity of existing plants as well in the establishment of new plants to meet the growing demand for tires.
The current report provides an overview of the US farm tire market. It discusses the market size, segments, growth drivers, and challenges. The key players are profiled with their strategies for this market.

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  • 1. View Report Details The US Farm Tire Market Report-------------------------------------------------- 2013
  • 2. View Report DetailsExecutive SummaryAgricultural/farm tires are categorized under specialty tires and are used for farm vehicles such as tractors and harvesters. Rise in specialized farmequipments are driving demand for application specific and higher load capacity tires that reduce soil compaction. The farm tire market in the USwas comparatively down in 2012 due to economic uncertainty and severe drought conditions that affected crop productivity. This led many retailersto maintain heavy inventories throughout the selling season. Although it is expected that the demand will regain in 2013 as farmers receive additionalfarm income due to high commodity prices and crop insurance payouts. Moreover, new technological and design developments in farm machineryhave resulted in further development of farm tires, larger in size and for diversified uses. However, fluctuating raw material prices and high inventorypose a challenge for the manufacturers and dealers in the industrys supply chain.Competition among the US farm tire manufacturers is intense, with several domestic and international companies competing primarily on the basisof price, quality, customer service, design capability, and delivery time. Significant competitors in the US farm tire market include Bridgestone,Michelin, Titan-Goodyear, Firestone and BKT, among others. The farm tire companies are making heavy investments in their initiatives to expandcapacity of existing plants as well in the establishment of new plants to meet the growing demand for tires.The current report provides an overview of the US farm tire market. It discusses the market size, segments, growth drivers, and challenges. The keyplayers are profiled with their strategies for this market.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 thefuture direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and thedependent variable was analyzed using standard SPSS output, including charts, tables and tests.
  • 3. The US Tire Shipments Remained Flat in 2012 with Replacement Tires Segment Affected by High Oil Prices and Weak Consumer Confidence The US Total Tire Shipments (2008-2012)  The US tire shipments in 2012 were almost constant at ….. million units due to sustained economic slowdown. Replacement tire shipments’ decline offset the growth of original tire shipments.  It is forecasted that in 2013 the U.S. tire shipments will growTires in Million by nearly …%, an increase of …. million, and will reach …… million, as a result of the increase in car mileage and the expected economic rebound.  Replacement passenger tire shipments fell more than …..million units last year, or nearly ….%, to …… million units in 2012.  Total shipment of OE tires in the US reached ….. million units 2008 2009 2010 2011 2012 in 2012. OE passenger tire shipments rose …..% y-o-y to ….. million units in 2012, an improvement of ……million units. The US Replacement Tire Sales by Value (2008-2012) Replacement Passenger Tires Brand Shares in the US (2012) US$ Billion Goodyear Michelin Bridgestone 2008 2009 2010 2011 2012 Firestone Cooper BFGoodrich Hankook Falken General Kumho Yokohama Nexen Others
  • 4. Rise In Specialized Farm Equipments are Driving Demand for Application Specific and Higher Load Capacity Tires Total Farm Tire Shipments in the US (2004-2012)  The farm tire market in the US was comparatively down in 2012 due to economic uncertainty. Farm tire shipments, including small or implement farm tires, dropped from ….. million units shipped in 2011 to ….. million in 2012.  Replacement shipments were down ……% whereas OE shipments increased by ….% in 2012 compared to previous year.Million Units  All the categories in replacement farm tires segment witnessed a decline in shipments in 2012 compared to 2011. The small farm replacement tires declined the highest i.e. …% y-o-y in 2012. Radial and bias replacement farm tires shipments decreased from …. million units and ….million units in 2011 to … million units and ….. million units respectively in 2012.  Total OE farm tire shipments in the US reached ….. million units 2004 2005 2006 2007 2008 2009 2010 2011 2012 in 2012, an increase of ……% from previous year. Total Farm Tire Shipments by Category in the US (2004-2012) Retail Sales of Farm Tractors in the US (2009-2012) Million Units Units Sold 2007 2008 2009 2010 2011 2012 2009 2010 2011 2012 Replacement Original Equipment
  • 5. Rising Net Farm Income and Sale of New Farm Equipments will Drive the US Farm Tire Shipments in Future Years…… The US Farm Tire Shipments Forecast (2012-2016F) Million Units 2012 2013F 2014F 2015F 2016F • The US farm tire shipments are forecasted to increase from ….. million units in 2012 to ….. million units by 2016. • Although crop productivity was affected by severe drought conditions in 2012, farmers are still projected to have the second highest net farm income year due to high commodity prices and land protected by crop insurance. • New equipment sales continued to be strong throughout 2012, and the downturn in the replacement tire market is expected to reverse in 2013 as farmers reinvest in their business, and dealers continue to work through their inventories. • As the growers receive their crop insurance payouts, there will be an increase in spending on replacement tires also. • Moreover, new technological and design developments in farm vehicular machinery have resulted in further development of farm tires, larger in size and for diversified uses.
  • 6. View Report DetailsTable of Contents List of Graphs & Tables 1. Global Tire Market List of Charts 1.1 Introduction 1.2 Market Size Global Tire Market Size by Value (2005-2011) -By Value Global Tire Market Size by Volume (2009-2011) -By Volume Global Tire Sales by Segments (2011) 1.3 Market Segmentation Global Tire Market Segmentation by End Use (2011) 1.3.1 Light Vehicles Tires Worldwide Specialty Tires Market Size (2009-2011) 1.3.2 Truck Tires Global Tire Market by Manufacturers (2011) 1.3.3 Specialty Tires The US Total Tire Shipments (2008-2012) 1.4 Market Players Miles Driven on the US road by All Vehicles (2007-2012) The US Replacement Tire Sales (2008-2012) 2. The US Tire Market The US Replacement Tire Sales by Type (2012) Replacement Passenger Tires Brand Shares (2012) 2.1 Market Size Replacement Light Truck Tires Brand Shares (2012) 2.2 Market Segmentation Replacement Medium/Heavy Truck Tires Brand Shares (2012) 2.2.1 Replacement Tires Market Players in New Tires Sales in the US/Canada (2012) 2.2.2 Original Equipment Tires The US Tire Import Breakdown by Country (2011) 2.3 Import of Tires The US Consumer Tires Import from China (2008-2012) 2.4 Distribution Channels The US Truck Tire Imports from China by Types (2012) Consumer Tires Distribution Channels in the US (2012) 3. The US Farm Tire Market Total Farm Tire Shipments in the US (2004-2012) Total Replacement Farm Tire Shipments in the US (2007-2012) 3.1 Overview Total Replacement Farm Tire Shipments in the US by Category (2009-2012) 3.2 Market Size Total OE Farm Tire Shipments in the US (2007-2012) Total OE Farm Tire Shipments in the US by Category (2009-2012) 3.3 Market Segments Retail Sales of Farm Tractors in the US (2009-2012) 3.3.1 Replacement Farm Tire Market Farm Production Expenses in the US (2006-2013F) -Total Volume Total Net Farm Income in the US (2006-2013F) -Radial/Bias/Small Farm Value of Crop Production in the US (2006-2013F) 3.3.2 Original Equipment Farm Tire Market GDP at Current Prices in the US (2006-2015F) -Total Volume Unemployment Rate in the US (2009-2015F) -Radial/Bias/Small Farm Prices of Raw Materials Used in Tire Manufacturing (2009-2012) Bridgestone Corporation Net Sales by Segments (2012) 3.4 Market Players -Replacement Market Share -OE Market Share
  • 7. View Report DetailsTable of Contents List of Graphs & Tables List of Charts 4. Growth Drivers 4.1 Rise in Sale of Farm Equipments Bridgestone’s Tire Segment- Net Sales and Operating Income (2008-2012) 4.2 Increase in Total Production Expenses Michelin’s Revenues by Business Segments (2012) 4.3 Economic Improvement Michelin’s Net Sales and Operating Income (2008-2012) 4.4 Design Development and Innovations Titan’s Revenues by Business Segments (2012) 4.5 Emerging Markets Creating Opportunity for Titan’s Agricultural Segment Net Sales (2010-2012) Manufacturers Trelleborg’s Revenues by Segments (2012) Trelleborg’s Wheels Segment Net Sales (2008-2012) 5. Challenges The US Farm Tire Shipments Forecast (2012-2016F) 5.1 Fluctuating Raw Material Prices 5.2 High Inventory List of Tables 6. Company Profiles Worldwide Passenger Cars and Light Trucks Tire Market (2010-2012E) Worldwide Trucks Tire Market (2010-2012E) 6.1 Bridgestone Corporation Comparison of Top Global Tire Markers (2011) The US Replacement Tire Shipments by Categories (2001-2012) 6.1.1 Business Description The US OE Tire Shipments by Categories (2001-2012) 6.1.2 Financial Overview Market Shares of Players in Replacement Farm Tires Segment (2012) 6.1.3 Business Strategies Market Shares of Players in Original Equipment Farm Tires Segment (2012) -Increase Production Capacity Retail Sales of Farm Tractors in the US by Category (2011 versus 2012) -Development of New Tire Technologies Tractor Sales in Selected Markets (2006-2012) Combine Sales in Selected Markets (2006-2012) 6.2 Michelin Dependent & Independent Variables (2008-2012) Correlation Matrix 6.2.1 Business Description Model Summary – Coefficient of Determination 6.2.2 Financial Overview Regression Coefficients Output 6.2.3 Business Strategies -Innovation and Differentiation -Stepping up Capital Expenditure 6.3 Titan International, Inc. 6.3.1 Business Description 6.3.2 Financial Overview 6.3.3 Business Strategies -Increase Aftermarket Tire Business -Enhance Design Capacity
  • 8. View Report DetailsTable of Contents 6.4 Trelleborg AB 6.4.1 Business Description 6.4.2 Financial Overview 6.4.3 Business Strategies -Strategic Acquisitions/Joint Ventures 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
  • 9. Contact Us: View Report DetailsThese are abridged and sanitized sample pages from the comprehensive report on the “The US Farm Tire Market”. To knowmore about this report or for any customized research requirement, please contact the following: Koncept Analytics CS-36, Second Floor, Ansal Plaza Vaishali, Ghaziabad, U.P. – 201010 Vikas Gupta T. +91-120-4130959 BD Manager C: +91-9811715635 vikas@konceptanalytics.com www.konceptanalytics.com