Titan International, Inc. (DE)

Titan International is a U.S.-based industrial manufacturer of wheels, tires, assemblies, and undercarriage products for off-highway equipment. Its products are used across agriculture, earthmoving/construction, and consumer end markets, with manufacturing and distribution operations serving customers in North America, Latin America, Europe, and other global markets.

4,8 %

13,9 %

−3,5 %

−0,9 %

2.30

1.20

— Titan International, Inc. (DE)
%
Agricultural products40% Wheels, tires, and components used on tractors, combines, planters, and other farm equipment.
Earthmoving/construction products25% Tires, wheels, and assemblies for construction and earthmoving machinery.
Consumer products20% Specialty tires and wheels for powersports, outdoor power equipment, trailers, and related uses.
Undercarriage products10% Undercarriage components and related products for off-highway applications.
Other specialty and mixed products5% Custom rubber stock mixing and other products that do not fit the core segments.

Titan sells primarily to OEMs that build agricultural, construction, and specialty equipment, while also serving...

  • Agricultural OEMsprimary

    Buy farm wheels, tires, and components for tractors, combines, planters, and irrigation equipment.

  • Construction and earthmoving OEMsprimary

    Buy heavy-duty wheels, tires, and assemblies for off-highway construction equipment.

  • Aftermarket distributors and dealerssecondary

    Buy replacement tires and wheels for farm, construction, and consumer equipment.

  • Consumer specialty channelssecondary

    Buy products for powersports, outdoor power equipment, trailers, and lawn and garden uses.

  • Global equipment brandsprimary

    Large OEM accounts such as Deere, Caterpillar, CNH, AGCO, Kubota, Volvo, and others.

Titan operates as a global business with manufacturing and sales across North America, Latin America, Europe, Asia, and...

  • •Global manufacturing and sales footprint across multiple regions
  • •North America is a core market for agriculture and consumer products
  • •Latin America is important for bias truck and light truck tire production
  • •China manufacturing creates tariff and supply-chain exposure
  • •Russia and CIS exposure exists through Voltyre-Prom operations and brands

Titan's strategy centers on broadening its off-highway product portfolio, improving manufacturing efficiency, and...

01
Broaden the off-highway product portfoliomedium-term

A wider product set helps Titan sell complete assemblies and serve more equipment platforms.

02
Improve manufacturing efficiencyshort-term

Higher utilization and modernized equipment support competitiveness in price-sensitive OEM markets.

03
Enhance design and product developmentmedium-term

Customer-specific engineering helps Titan win OEM programs and defend share against competitors.

04
Maintain strategic customer relationshipslong-term

Large OEM accounts are concentrated and critical to volume stability.

Titan is exposed to cyclical demand in agriculture, construction, and consumer equipment markets, where OEM production...

high

Cyclical end-market demand

Sales depend heavily on farm, construction, and consumer equipment activity, which moves with economic cycles.

Scope
Agriculture, earthmoving/construction, consumer
Materiality
high
high

Customer concentration

A small number of OEMs account for a meaningful share of sales, so lost programs can reduce volume quickly.

Scope
Deere and other large OEMs
Materiality
high
high

Tariffs and trade policy

Cross-border sourcing and manufacturing can become more expensive or less competitive under changing tariff regimes.

Scope
China, Latin America, global trade flows
Materiality
high
medium

Competitive pricing pressure

Competitors may lower prices or OEMs may internalize production, pressuring Titan's share and margins.

Scope
OEM wheel and tire assemblies
Materiality
high
medium

Foreign exchange and international operations

Global manufacturing and sales expose results to currency swings and operating complexity.

Scope
Europe, Latin America, Russia, China
Materiality
medium
Business combination accounting
Recent acquisitions such as Carlstar/Titan Specialty
Goodwill and intangible impairment
Acquired brands and reporting units
Inventory valuation
Agricultural, construction, and consumer product inventories
Depreciation and capitalized tooling
Manufacturing equipment and new product development
Income taxes
Multi-jurisdiction earnings

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: 29/04/2026