+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free
Published Date: 2017-06-13Number of Pages: 83

Farm Tire Market (Tire Type - Bias and Radial; Application - Tractors and Harvesters) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

North America Farm Tire Market: Snapshot

Farm tires are a sub-segment of specialty tires that are used by vehicles and machines employed in farm activities in the agriculture sector. Farm machineries such as sprayers, tractors, trailers, and harvesters some of the most common and key users of farm tires. Choosing the right farm tire depends on numerous different factors such as the size of the tractor tire, soil compaction, fuel economy, traction requirements, and weight of the equipment. The market for farm tires in North America is witnessing growth at a moderate pace, with the rising preference to radial tires bringing vast changes to the market’s overall growth dynamics.

Characteristically better, radial tires cost significantly higher than bias tires of the same dimensions. The disparity has forced several farmers to buy old second-hand tires instead, negatively impacting the sales of new tires and the growth prospects of the overall market for farm tires in North America. However, rising demand from hobby farmers and the increased awareness about the need for mechanization in the field of farming are allowing radial tires good growth prospects.

According to Transparency Market Research, the North America farm tire market is expected to exhibit a moderate CAGR of 5.5% from 2017 to 2025 in terms of volume, rising from 2,948 thousand units in 2016 to 4,750 thousand units in 2025.

north america farm tires market

 

Despite Lower Sales Volumes, Radial Tires to Account for Larger Revenue Share 

In terms of type, the North America farm tires market has been segmented into bias tires and radial tires. Of these, the segment of radial tires is expected to witness the dominance, in terms of revenue contribution, of radial tires throughout the forecast period. The high costs of these technologically advanced tires allow them to account for a larger share in the overall revenue of the market despite holding a much smaller volume-wise share as compared to the segment of bias tires. The segment of radial tires is expected to continue to hold a higher share in the North America farm tire market in terms of revenue contribution over the forecast period.

Nevertheless, the trend of higher sales volumes of bias tires compared to those of radial tires, is expected to continue over the forecast period as well. The vast disparity in costs of bias tires and radial tires, with radial tires costing as much as 10 times the cost of bias tires of same dimensions, plays a major role in cost-sensitive farmers’ preferences. However, the segment of radial tires is steadily gaining traction, with its growth rate, in terms of volume, expected to be higher than that of the segment of bias tires over the report’s forecast period. In terms of revenue-wise growth, both the segments will remain equally competitive, expanding at CAGRs of 11.8% (bias tires) and 11.9% (radial tires) over the forecast period.

U.S. Market to Continue to Contribute Massive Share in Revenue to North America Farm Tire Market

In terms of geography, the report examines the market for farm tire across the U.S., Canada, and the rest of North America. Of these, the U.S. is presently the leading revenue contributor to the North America farm tire market and the country will continue to hold its top spot owing to the larger scale of the agriculture sector as compared to other countries in the region and presence of several leading vendors. In terms of rate of growth, however, the market in Canada is expected to register a better pace of growth, in terms of both revenue as well as volume.

Some of the leading players operating in the North America farm tire market are BKT Tires USA Inc., Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Michelin, Mitas Tires Global Inc., TBC Corp., and Titan International. 

1. Preface
      1.1. Market Definition and Scope
      1.2. Market Segmentation
      1.3. Key Research Objectives
      1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary : North America Farm Tire Market

4. Market Overview
      4.1. Key Market Indicators
      4.2. Market Dynamics
             4.2.1. Drivers
             4.2.2. Restraints
             4.2.3. Opportunity
      4.3. Key Findings      
      4.4. Key Trends
      4.5. North America Farm Tire Market Analysis and Forecasts, 2015 – 2025
             4.5.1.  Market Revenue and Volume Projections (US$ Mn and Thousand Units)
      4.6. Porter’s Five Force Analysis
      4.7. Market Outlook

5. North America Farm Tire Market Analysis and Forecasts, By Tire Type
      5.1. Market Size (US$ Mn and Thousand Units) Forecast By Tire Type, 2015 – 2025
             5.1.1. Bias
             5.1.2. Radial
      5.2. Market Attractiveness By Tire Type

6. North America Farm Tire Market Analysis and Forecasts, By Application
      6.1. Market Size (US$ Mn and Thousand Units) Forecast By Application, 2015 – 2025
             6.1.1. Tractors
             6.1.2. Harvesters
             6.1.3. Others (Combines, Sprayers, Trailers, etc.)
      6.2. Market Attractiveness By Application

7. North America Farm Tire Market Analysis and Forecasts, By Country/Region
      7.1. Market Size (US$ Mn and Thousand Units) Forecast By Country/Region, 2015 – 2025
             7.1.1. The U.S.
             7.1.2. Canada
             7.1.3. Rest of North America
      7.2. Market Attractiveness By Country/Region

8. The U.S. Farm Tire Market Analysis and Forecast
      8.1. Market Size (US$ Mn and Thousand Units) Forecast By Tire Type, 2015 – 2025 
             8.1.1. Bias
             8.1.2. Radial
      8.2. Market Size (US$ Mn and Thousand Units) Forecast By Application, 2015 – 2025
             8.2.1. Tractors
             8.2.2. Harvesters
             8.2.3. Others (Combines, Sprayers, Trailers, etc.)
      8.3. Market Attractiveness Analysis 
             8.3.1. By Application
             8.3.2. By Tire Type

9. Canada Farm Tire Market Analysis and Forecast
      9.1. Market Size (US$ Mn and Thousand Units) Forecast By Tire Type, 2015 – 2025 
             9.1.1. Bias
             9.1.2. Radial
      9.2. Market Size (US$ Mn and Thousand Units) Forecast By Application, 2015 – 2025
             9.2.1. Tractors
             9.2.2. Harvesters
             9.2.3. Others (Combines, Sprayers, Trailers, etc.)
      9.3. Market Attractiveness Analysis 
             9.3.1. By Application
             9.3.2. By Tire Type 

10. Rest of North America Farm Tire Market Analysis and Forecast
      10.1. Market Size (US$ Mn and Thousand Units) Forecast By Tire Type, 2015 – 2025 
             10.1.1. Bias
             10.1.2. Radial
      10.2. Market Size (US$ Mn and Thousand Units) Forecast By Application, 2015 – 2025
             10.2.1. Tractors
             10.2.2. Harvesters
             10.2.3. Others (Combines, Sprayers, Trailers, etc.)
      10.3. Market Attractiveness Analysis 
             10.3.1. By Application
             10.3.2. By Tire Type 

11. Top 25 Tire Sizes, by Type
      11.1. Bias 
      11.2. Radial

12. Competition Landscape
      12.1. Market Player – Competition Matrix (By Tier and Size of companies)
      12.2. Market Ranking (2016) For Top Players
      12.3. Company Profiles (Details – Overview, Financials, Strategy and SWOT)
             12.3.1. BKT Tires USA Inc.
                        12.3.1.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.1.2. Market Presence, By Segment.
                        12.3.1.3. Strategy
                        12.3.1.4. Revenue and Operating Profits
                        12.3.1.5. SWOT Analysis
             12.3.2. Bridgestone Corporation
                        12.3.2.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.2.2. Market Presence, By Segment.
                        12.3.2.3. Strategy
                        12.3.2.4. Revenue and Operating Profits
                        12.3.2.5. SWOT Analysis
             12.3.3. Continental AG
                        12.3.3.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.3.2. Market Presence, By Segment.
                        12.3.3.3. Strategy
                        12.3.3.4. Revenue and Operating Profits
                        12.3.3.5. SWOT Analysis
             12.3.4. The Goodyear Tire & Rubber Company 
                        12.3.4.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.4.2. Market Presence, By Segment.
                        12.3.4.3. Strategy
                        12.3.4.4. Revenue and Operating Profits
                        12.3.4.5. SWOT Analysis
             12.3.5. Michelin
                        12.3.5.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.5.2. Market Presence, By Segment.
                        12.3.5.3. Strategy
                        12.3.5.4. Revenue and Operating Profits
                        12.3.5.5. SWOT Analysis
             12.3.6. Mitas Tires Global Inc.
                        12.3.6.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.6.2. Market Presence, By Segment.
                        12.3.6.3. Strategy
                        12.3.6.4. Revenue and Operating Profits
                        12.3.6.5. SWOT Analysis
             12.3.7. TBC Corp.
                        12.3.7.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.7.2. Market Presence, By Segment.
                        12.3.7.3. Strategy
                        12.3.7.4. Revenue and Operating Profits
                        12.3.7.5. SWOT Analysis
             12.3.8. Titan International
                        12.3.8.1. Company Details (HQ, Foundation Year, Employee Strength)
                        12.3.8.2. Market Presence, By Segment.
                        12.3.8.3. Strategy
                        12.3.8.4. Revenue and Operating Profits
                        12.3.8.5. SWOT Analysis

13. Key Takeaways

List of Figures

Figure 1: North America Farm Tires Market Revenue Projection (US$ Mn), 2015 – 2025
Figure 2: North America Farm Tires Market Volume Projection, (Thousand Units), 2015 – 2025
Figure 3: North America Farm Tires Market Volume Share (%),by Country, 2015 – 2025
Figure 4: North America Farm Tires Market CAGR by Tire Type (2017 – 2025)
Figure 5: North America Farm Tires Market CAGR by Application (2017 – 2025)
Figure 6: North America Farm Tires Market CAGR by Country (2017 – 2025)
Figure 7: North America Farm Tires Market Volume and Y-o-Y Growth, by Country – The U.S., 2015 – 2025, (Thousand Units & %)
Figure 8: North America Farm Tires Market Volume and Y-o-Y Growth, by Country – Canada, 2015 – 2025, (Thousand Units & %)
Figure 9: North America Farm Tires Market Volume and Y-o-Y Growth, by Country – Rest of North America, 2015 – 2025, (Thousand Units & %)
Figure 10: North America Farm Tires Market Attractiveness Analysis, by Tire Type (2016)
Figure 11: North America Farm Tires Market Attractiveness Analysis, By Application (2016)
Figure 12: North America Farm Tires Market Attractiveness Analysis, By Country (2016)
Figure 13: The U.S. Farm Tires Market Attractiveness Analysis, By Tire Type (2016)
Figure 14: The U.S. Farm Tires Market Attractiveness Analysis, By Application (2016)
Figure 15: Canada Farm Tires Market Attractiveness Analysis, By Tire Type (2016)
Figure 16: Canada Farm Tires Market Attractiveness Analysis, By Application (2016)
Figure 17: Rest of NA Farm Tires Market Attractiveness Analysis, By Tire Type (2016)
Figure 18: Rest of NA Farm Tires Market Attractiveness Analysis, By Application (2016)

List of Tables

Table 1: North America Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Tire Type, 2015–2025
Table 2: North America Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Tire Type, 2015–2025
Table 3: North America Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Application, 2015–2025
Table 4: North America Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Application, 2015–2025
Table 5: North America Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Country, 2015–2025
Table 6: North America Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Country, 2015–2025
Table 7: The U.S. Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Tire Type, 2015–2025
Table 8: The U.S. Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Tire Type, 2015–2025
Table 9: The U.S. Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Application, 2015–2025
Table 10: The U.S. Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Application, 2015–2025
Table 11: Canada Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Tire Type, 2015–2025
Table 12: Canada Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Tire Type, 2015– 2025
Table 13: Canada Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Application, 2015–2025
Table 14: Canada Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Application, 2015–2025
Table 15: RoNA Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Tire Type, 2015–2025
Table 16: RoNA Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Tire Type, 2015–2025
Table 17: RoNA Farm Tires Market Revenue (US$ Mn) Forecast and CAGR, by Application, 2015–2025
Table 18: RoNA Farm Tires Market Volume (Thousand Units) Forecast and CAGR, by Application, 2015–2025

Global Farm Tire Market: Overview

This report is on North America farm tire market provides analysis for the period 2015–2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the North America farm tire market growth during the said period. Factors that are playing a major role in driving the North America farm tire market have also been covered in the study.

The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of revenue estimates (US$ Mn) and volume estimates (thousand Units), across the U.S. and Canada. Farm tires are a sub-segment of specialty tires that are used by vehicles and machines used for farm activities. Sprayers, tractors, trailers, and harvesters are a few examples of farm machinery that use farm tires. The Farm Tire market is anticipated to witness nominal growth during the forecast period from 2017 to 2025 owing to the factors such as decline in farm output, unfavorable climatic conditions and changing government regulations in the North America region. Increasing demand for food and rise in farm mechanization are some of the factors that are anticipated to drive the growth of North America farm tires market. The market is going to surge due to the rising demand for tractors in the agricultural sector. Presently there is increase in adoption of hobby farming especially in the U.S. and this is expected to positively impact the farm tires market during the years from 2017 -2025.

Global Farm Tire Market: Segmentation

The Farm Tire market has been segmented on the basis of tire types and applications. On the basis of tire types, the farm tire market is segmented into bias and radial tires. Furthermore, application segment has been divided into tractors, harvesters and others (combines, trailers, sprayers, etc.).

The North America region wise prominent countries covered in the scope of the study includes - the U.S and Canada.

Global Farm Tire Market: Scope of the Report

The report covers key developments which provides the historic development in the farm tire market. The report also covers segment wise analysis in terms of revenue and volume, comparison matrix, porters five force analysis, market attractiveness analysis which identifies and compares segments on the basis of CAGR and market share index and provides market positioning of the companies playing important role in the farm tire market.

The report also includes comparison matrix which provides the analysis of the segment growth matrix (%), segment revenue contribution from 2017 - 2025 (%), and segment compounded growth matrix (CAGR) This report shows market attractiveness analysis for all the segments and for all the regions in the scope of study which identifies and compares segments market attractiveness on the basis of CAGR and market share index.

Global Farm Tire Market: Competitive Landscape

The report also includes competition landscape which include competition matrix. In these market the company playing major role has been included which provides company description, SWOT analysis, financial data and strategy adopted by companies for the development of company. Competition matrix benchmarks leading players on the basis of their capabilities and potential to grow however, factors including market position, offerings and R&D focus are attributed to company’s capabilities, top line growth, market share, segment growth, infrastructure facilities and future outlook are attributed to company’s potential to grow. This section also identifies and includes various recent developments carried out by the leading players in the farm tire market.

The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: North America market, types, and applications

The key players profiled in the North America Farm Tire market includes BKT Tires USA Inc., Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Michelin, Mitas Tires Global Inc., TBC Corp., and Titan International

The North America Farm Tire market is segmented as below:

North America Farm Tire Market, By Tire type

  • Bias
  • Radial

North America Farm Tire Market, By Application

  • Tractors
  • Harvesters
  • Others

North America Farm Tire Market, By Country

  • The U.S.
  • Canada
  • Rest of North America


 
 
Back To Top