Table of Contents
Agricultural/farm tires are categorized under specialty tires and are used for farm vehicles such as tractors and harvesters. The farm tire market in the US was comparatively down in 2015 due to the decline in net farm income and exports of farm equipments. Moreover, new tire technology and sustainable materials and growing demand of eco-friendly tires have resulted in further development of farm tires, larger in size and for diversified uses. However, fluctuating raw material prices are a challenge for the manufacturers and dealers in the industry's supply chain.
The total US farm tire market can be divided between replacement and original equipment segments, which can be further subdivided into radial rear, bias rear, and small farm categories of farm tires. The replacement segment accounts for the maximum share of the total US farm tire market. Apart from number of companies engaged in the manufacturing of farm tires, Firestone is the market leader 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 report offers in-depth analysis of an overview of the US farm tire market. It discusses market size, segments, key trends and challenges associated with industry. The factors affecting the industry are US farm income and export of US agriculture equipment. The competitive aspects of the market are also highlighted and major players in the US farm tire market are being profiled with their key financials and 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.
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