Your SlideShare is downloading. ×
  • Like
US Farm Tire Market Report: 2014 Edition - New Report by Koncept Analytics
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Now you can save presentations on your phone or tablet

Available for both IPhone and Android

Text the download link to your phone

Standard text messaging rates apply

US Farm Tire Market Report: 2014 Edition - New Report by Koncept Analytics

  • 590 views
Published

The current report provides an overview of the US farm tire market. For more mail me: pr@konceptanalytics.com …

The current report provides an overview of the US farm tire market. For more mail me: pr@konceptanalytics.com

Published in Business , Technology
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
590
On SlideShare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
6
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. The US Farm Tire Market Report ----------------------------------------- 2014
  • 2. Executive Summary 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.
  • 3. Price reduction of synthetic and natural rubber led to increase in volume sales of farm tires in the US for the year 2013……  Total farm tire shipments in the US increased at a healthy pace from …. million units in 2012 to ….. million units in 2013.  Both farm tire categories i.e. OE and replacement were up in 2013 compared to 2012 despite significant weather changes over the course of the year.  Weather patterns have affected overall demand this year, with cold wet weather delaying planting early in the year.  Total replacement farm tire shipments in the US increased marginally by ….% y-o-y and reached … million units in 2013. In value terms, total replacement farm tire sales in the US amounted to US$...... million.  The OE farm tire shipments reached ..… million units in 2013, showing an increase of about …..% as compared to 2012. Goodyear Michelin Bridgestone Firestone Cooper BFGoodrich Hankook Falken General Kumho Yokohama Nexen Others Total Replacement Farm Tire Shipments in the US (2007-2013) 2006 2007 2008 2009 2010 2011 2012 2013 TiresinMillion Total Farm Tire Shipments in the US (2006-2013) Replacement Passenger Tires Brand Shares in the US (2013) 2007 2008 2009 2010 2011 2012 2013 MillionUnits
  • 4. Both farm tire categories i.e. OE and replacement were up in 2013 compared to 2012 despite significant weather changes …….  The original equipment farm tire shipments reached …. million units in 2013, showing an increase of about ….% as compared to 2012.  This represents the fact that the farm tires market is returning to pre-recession level as buyers continue to replace their ageing cars.  The OE bias rear farm tire shipments reached ….. million units in 2013 as compared to ….. million units in 2012.  Firestone is the market leader in rear radial and small farm category with shares of ….% and ….% respectively in 2013.  Retail sales of farm tractors in the US increased from ……. units in 2012 to …… units in 2013.  The net farm income in the US increased from US$..... billion in 2012 to US$..... billion in 2013. Replacement Farm Tire Shipments in the US by Category (2009-2013) Total OE Farm Tire Shipments in the US (2007-2013) 2007 2008 2009 2010 2011 2012 2013 MillionUnits The US OE Rear Farm tire Market Shares (2013) Radial Rear Bias Rear Small Farm MillionUnits 2009 2010 2011 2012 2013 Firestone Goodyear Titan Others
  • 5. With rise in net farm income and declining prices of farm tires, there will be an increase in farm tires sales in coming years…… • The US farm tire shipments are forecasted to increase from ….. million units in 2012 to ….. million units by 2017. Decline in raw material prices especially rubber has led to price reduction of farm tires. • Stable prices and increased supply of tires to end-users have made it a very price sensitive market. As most of the farm tire manufacturers are adding capacities, farmers will have more option to choose. • With rise in net farm income and declining prices of farm tires, there will be an increase in spending on both replacement and new tire sales in coming years. • 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. As input costs are rising, farmers are becoming more cautious. The US Farm Tire Shipments Forecast (2013-2017F) 2013 2014F 2015F 2016F 2017F MillionUnits