About Agriculture Tires
Tires are an integral component of automobiles and are manufactured using raw materials such as natural rubber, nylon tire cord fabric, and carbon black. Rubber chemicals and synthetic rubber, including styrene-butadiene rubber and poly-butadiene rubber, are also used in manufacturing tires. Agriculture tires are used in different agriculture vehicles and equipment such as tractors, sowers, and harvesters. The use of advanced equipment has had a significant improvement on crop yield and hence, is leading to cultivators and farmers increasingly using agriculture vehicles and equipment.
The agriculture sector is one of the key sectors in the US after the services and industry sectors. Contribution of agriculture in the GDP translated into a buoyant agricultural tires market in the country. While in 2012, most parts of North America faced drought, which negatively affected the agriculture equipment market in the country; in 2013, the market bounced back and the agriculture tire sales started picking up with a rise in the sales of agriculture equipment. Tire sales in mid-2013 slowed down due to various factors such as uneven and disruptive weather pattern both in spring and fall. In 2014, equipment and agriculture tire sales stayed relatively strong. The agriculture tires market in US is all set to record a steady growth during the forecast period. There are several factors that would influence the growth of the market, such as government policies and legislations.
TechNavio's analysts forecast the Agriculture Tires market in the US to grow at a CAGR of 4.19 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Agriculture Tires market in the US for the period 2015-2019. The market can be segmented into two based on application: OEM and Replacement. To calculate the market size, the report considers the combined sales of products in these two segments.
TechNavio's report, the Agriculture Tires Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the landscape of the Agriculture Tires market in the US and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Agriculture Tires Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the Agriculture Tires Market in the US 2015-2019: Balkrishna Industries, Bridgestone Corp., Michelin, Titan Tire Corp. and Trelleborg.
Other Prominent Vendors in the market are: Akuret, Alliance, American Farmer, Carlisle, Harvest King and Mitas.
Commenting on the report, an analyst from Technavio’s team said: “Untapped emerging markets in countries such as China, India, Thailand, Vietnam, and Indonesia have immense potential to grow rapidly and contribute to the market share in the APAC in the future.”
According to the report, tire manufacturers are broadening their product line with more innovation, more purpose-oriented designs, and more sizes. The increase in product range by tire manufacturers will act as a driver for the agriculture tires market in the US.
Further, the report states that the increasing farm tire sizes is affecting the growth of the Agriculture Tires market in the US.
Balkrishna Industries, Bridgestone Corp., Michelin, Titan Tire Corp., Trelleborg., Akuret, Alliance, American Farmer, Carlisle, Harvest King, Mitas
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