Dublin, May 13, 2020 (GLOBE NEWSWIRE) -- The "US Farm Tire Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The global tire market is estimated to reach US$271 billion in 2024, growing at a CAGR of 2.45% for the period spanning from 2020 to 2024. The factors such as diminishing rural workforce and escalating population are expected to drive the market. However, growth of the industry will be challenged by declining net farm incomes, high volatility and tighter government and environmental regulation. A few notable trends include rising demand for wide-section tires, growing demand for eco-friendly tires and favorable government policies.
The US farm tire market is segmented into original and replacement tire. Replacement tires held the larger share in the US tire market attributable to increasing consumer preference for acceleration, grip and ride comfort, which is accelerating its demand in the market.
The market is expected to rise rapidly in the coming years owing to the rising population and rapid urbanization. Rising transport volume and the increasing popularity of high-performance tires would contribute to the growth of replacement tire market in the U.S. Long-distance travel and growing demand for new vehicles supported the higher sales growth of original equipment tire market.
Companies Mentioned
- Bridgestone Corporation
- Continental AG
- Goodyear Tire & Rubber Company
- Michelin SCA
- Titan International, Inc
- Yokohama Rubber Co. Ltd
Scope of the report:
- The report provides a comprehensive analysis of the US farm tire market, segmented into original and replacement tire.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
Key Topics Covered:
1. Introduction
1.1 Tires
1.2 Types of Tires
1.3 Tires by Application
1.4 Farm Tires & Classification
2. Impact of COVID-19
2.1 Decline in Global GDP Growth
2.2 Rising Unemployment
2.3 Decline in Passenger Car and Light Truck Tire Demand
2.4 Decline in Truck & Bus Tire Demand
3. Global Tire Market
3.1 Global Tire Market by Value
3.2 Global Tire Market Forecast by Value
3.3 Global Tire Market Volume by Region
3.4 Global Tire Market Volume by Segments
3.4.1 Global Passenger Car & Light Truck Tire Market by Volume
3.4.2 Global Passenger Car & Light Truck Tire Market Forecast by Volume
3.4.3 Global Truck Tire Market by Volume
3.4.4 Global Truck Tire Market Forecast by Volume
4. The US Tire Market
4.1 The US Tire Shipment by Volume
4.2 The US Tire Shipment Forecast by Volume
4.3 The US Tire Shipment Volume by Segment
4.4 The US Replacement Tire Market
4.4.1 The US Replacement Tire Market by Value
4.4.2 The US Replacement Tire Market Forecast by Value
4.4.3 The US Replacement Tire Market Value by Application
4.4.4 The US Replacement Tire Market by Shipment Volume
4.4.5 The US Replacement Tire Market Forecast by Shipment Volume
4.4.6 The US Replacement Tire Market Shipment Volume by Application
4.5 The US OE Tire Market
4.5.1 The US OE Tire Market by Shipment Volume
4.5.2 The US OE Tire Market Forecast by Shipment Volume
4.5.3 The US OE Tire Market Shipment Volume by Application
5. The US Farm Tire Market
5.1 The US Farm Tire Market by Volume
5.2 The US Farm Tire Market Forecast by Volume
5.3 The US Farm Tire Market Volume by Segment
5.4 The US Replacement Farm Tire Market
5.4.1 The US Replacement Farm Tire Market by Shipment Volume
5.4.2 The US Replacement Farm Tire Market Forecast by Shipment Volume
5.5 The US OE Farm Tire Market
5.5.1 The US OE Farm Tire Market by Shipment Volume
5.5.2 The US OE Farm Tire Market Forecast by Shipment Volume
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Diminishing Rural Workforce
6.1.2 Escalating Population
6.2 Key Trends & Developments
6.2.1 Rising Demand of Wide-Section Tires
6.2.2 Growing Demand of Eco-Friendly Tires
6.2.3 Favorable Government Policies
6.3 Challenges
6.3.1 Declining Net Farm Incomes
6.3.2 High Volatility
6.3.3 Tighter Government and Environmental Regulation
7. Competitive Landscape
7.1 Global New Tire Market Share by Company
7.2 The US Tire Market
7.2.1 The US/Canada New Tire Market Share by Company
7.2.2 The US Replacement Passenger Tire Market Volume by Company
7.2.3 The US Replacement Light Truck Tire Market Volume by Company
7.2.4 The US Retreaded Truck Tire Market Volume by Company
7.3 The US Farm Tire Market
7.3.1 The US OE Radial Rear Farm Tire Market Volume by Company
7.3.2 The US OE Bias Rear Farm Tire Market Volume by Company
7.3.3 The US OE Small Farm Tire Market Volume by Company
7.3.4 The US Replacement Radial Rear Farm Tire Market Volume by Company
7.3.5 The US Replacement Bias Rear Farm Tire Market Volume by Company
7.3.6 The US Replacement Small Farm Tire Market Volume by Company
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/kpssjc