Firestone has tilled a clear leadership position in both the original equipment and replacement farm tire marketplace, according to a new study from the Research and Markets information provider firm. Other major players include Goodyear, Michelin, Titan and Trelleborg.

“The U.S. tire industry is highly concentrated,” says Laura Wood, a senior manager at the Dublin, Ireland-based publisher, “with the top 4 companies generating more than 90% of total sales.”

American agricultural tire demand remained fairly strong in 2009, but it was not as robust as 2008’s figures. “Original equipment tire shipments have been particularly impacted in a negative way due to the slowdown in orders from farm equipment manufacturers,” she notes.

The farm tire market is divided into two segments – bias and radials – based on the type of application.

“Although most of the farm tires are bias ply, the trend is changing towards the usage of radial tires,” says Wood, citing the results of the recently released U.S Farm Tire Market Report. “The demand for radial tires, which are more beneficial in reducing compaction and better to handle heavy loads, has far outstripped supply for the last few years,” she points out.

A shift in agriculture towards large-scale farming has boosted the demand for bigger machines and thus larger tires, Wood continues. Improving living standards in the U.S. and heightened food demands are also driving farm equipment investments.

“The pursuit of improved agricultural productivity favors larger cultivated areas,” she reports. “Technological developments in agriculture have been particularly influential in driving changes in the farm sector. The growing use of purchased inputs for farm production has increased the demand for farm equipments like tractors and agricultural combines and consequently farm tires.”

She goes on to forecast that “the net farm income and total crop production is also expected to increase in future years. Farm tire manufacturers have benefited from the strong agricultural economy over the past several years as farmers reinvest in larger, more powerful machinery.”

The company’s current report covers the overview, market size and segmentation of the U.S farm tire market. The various drivers, opportunities and challenges faced by the market are discussed in detail, and the competitive aspect of the market is also highlighted along with profiles of the key players and their marketing strategies.

The Research and Markets study was conducted in cooperation with SPSS, Inc.
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