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Trends and Forecast of U.S. and Global Farm Tire Market Till 2016

  • Date Submitted: 11/20/2015 03:16 AM
  • Flesch-Kincaid Score: 47 
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The overall tire industry is segmented into truck tires, light vehicle and passenger car tires, and specialty tires. Farm tires form a sub-segment of the specialty tires market and are used by machines and vehicles engaged in farm activities. Sprayers, tractors, harvesters, and combines are some of the machines in which farm tires are utilized.

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The farm tire industry report studies at length the global as well as the U.S. market and offers sharp insights into the factors that govern the growth of the market.

Overview of the global and U.S. farm tire market

The market report indicates that the as far as design innovation and technological developments go, the U.S. and global market for farm tires will both witness exceptional growth.

Global analysis

The farm tire market can be segmented into original equipment (OE) and replacement farm tires. The market is further bifurcated into bias and radial types of farm tire. The overall farm tire market is susceptible to volatile commodity and raw material prices, erratic weather conditions, and high inventory levels.

With the increase in the weight and size of farming machinery, farm tire manufacturers have been making larger tires to bear the additional weight. The expanding world population and mounting demand for food products are two of the most significant factors boosting the agriculture or farm tire market. However, rapid urbanization and industrialization has adversely affected the availability of potential agricultural land, converting farm regions into construction sites for commercial purposes. This has hampered the growth of the farm tire market in several emerging economies.

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