Balkrishna Industries Ltd. (BKT), known for their off-highway tyres
announced its entry into the two wheeler tyre space for the Indian market. The tyres will initially be outsourced by the
company and within six months the company will be creating its own production
capacity. This was stated by Rajiv Poddar, Joint Managing Director, BKT. The
tyres were launched in the presence of brand ambassador Sunny Deol, a Bollywood
star, Rajiv Poddar and Arvind Poddar, Managing Director, BKT..
BKT at present manufactures tyres for agricultural, construction,
industrial, earthmoving, port, mining and all terrain vehicles. The company
aims to achieve a market share of 3pc and will create a matching production
capacity in the next 6 months.
The Indian two wheeler tyre market stands at 840 lakh units per
annum with a replacement market size of 360 lakh units. BKT plans to enter the
market under two sub brands of tyres -- BK Pilot and BK Raftar, aiming to make
significant headway in the rural market. The entry into the segment also gives
the company significant visibility in rural areas for its other lineup of tyre
BK Pilot is a front tyre and features directional grooves and wide
shoulders while BK Raftar a rear tyre for two wheelers features a block pattern
with rigid grooves. Poddar said, “The two wheeler tire industry has reported a
compounded annual growth rate of 8.5pc. Considering the tremendous potential of
the market and its reach in rural India, we plan to introduce our flagship
tires at sizes that permeate more than 70pc of the total market scope. We also
plan to introduce tires in other sizes to provide complete services to our buyers
and gather at least a 10pc market share of the Indian agricultural
transportation market within the next few years.”
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