U.S. And Global Farm Tire Market - Market Size, Growth And Industry Analysis, 2010 - 2016

METHODOLOGY

Our research consists of both secondary and primary research with later constituting the greater portion. We also have a large internal repository and access to a number of external proprietary databases to help address specific requirements of our clients.

The research process begins with exhaustive secondary research on internal and external sources being carried out to source qualitative and quantitative information relating to each market.

Secondary Research

The secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and SEC Filings.

Industry trade journals, scientific journals and other technical literature.

Internal and external proprietary databases.

Relevant patent and regulatory databases.

National government documents, statistical databases and market reports.

Procedure registries.

News articles, press releases and web-casts specific to the companies operating in the market.

Primary Research

We conduct primary interviews in an ongoing basis with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions:

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It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.

Helps in validating and strengthening the secondary research findings.

Further develops the Analysis Team’s expertise and market understanding.

Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.

The participants who typically take part in such a process include, but are not limited to:

Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers.Purchasing managers, technical personnel, distributors and resellers.

Outside experts: Investment Bankers, Valuation Experts, Research Analysts specializing in specific markets.

Key Opinion Leaders: specializing in different areas corresponding to different industry verticals.

Technological and scientific advancements have continuously added quantum and sophistication to mechanization and transportation machinery which has constituted the backbone of modern day farming in the US followed by other continents as well. Weak economic conditions reflected in poor sales of farm tires in 2009. Increased global demand for farm produce coupled with revival in economy saw an increase in sales in 2010.

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A slow but positive growth of the US economy and stability is forecasted for 2011. With reported increase in demand, production and income from farm sources, the US farm tire shipments are expected to increase at a CAGR of approximately 7.8% for the period spanning 2011 to 2013.

The US farm tire market has two segments, replacement and original equipment farm tires, and is further categorized into radial and bias construction types. The replacement segment accounts for the maximum share of total US farm tire market. The increase in demand for agricultural produce coupled with other factors will result in increased purchase of new agricultural machinery thus leading to a consequent rise in demand for original equipment farm tires. The US tractor market which is the largest end application market of farm tires is reporting constant increase in sales.

New technological and design developments in farm vehicular machinery have resulted in further development of farm tires, larger in size and for diversified uses. The country is witnessing regular growth in the net farm income, total crop production and production expenses which will continue to drive the farm tire market in the coming years. In addition, the continuously rising Indian tractor market, provides an opportunity to the US farm tire market in terms of more exports. However, issues such as increasing raw material prices and rising inventory costs pose a challenge for the manufacturers and dealers in the industry's supply chain.

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