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Although it is expected that the demand will regain in 2013 as farmers receive additional farm income due to high commodity prices and crop insurance payouts. Moreover, new technological and design developments in farm machinery have resulted in further development of farm tires, larger in size and for diversified uses. However, fluctuating raw material prices and high inventory pose a challenge for the manufacturers and dealers in the industry’s supply chain.
Competition among the US farm tire manufacturers is intense, with several domestic and international companies competing primarily on the basis of price, quality, customer service, design capability, and delivery time. Significant competitors in the US farm tire market include Bridgestone, Michelin, Titan-Goodyear, Firestone and BKT, among others. The farm tire companies are making heavy investments in their initiatives to expand capacity of existing plants as well in the establishment of new plants to meet the growing demand for tires…
Article Source: : SC Agricultural