BKT forays into two-wheeler tyre market, launches 2 patterns
Balkrishna Industries Limited (BKT), India’s leading offhighway tyre manufacturing company, has forayed into the two-wheeler tyre market. After having established its leadership position in tyre manufacturing for agriculture, construction, industrial vehicles, earthmoving, port, mining, all-terrain vehicles (ATV), and gardening applications, BKT Tires is now set to tap the booming two-wheeler tyre market. It has launched 2 flagship pattern types -BK Pilot and BK Raftar, in this segment.
BKT Tires will be vying for a share of an estimated annual OEM market size of 840 lakh tyres and a replacement market of 360 lakh tyres, in the Indian two-wheeler market. Along with the established two-wheeler tyre manufacturers like MRF and Ceat, there are the recent entrants to the market, including Apollo Tyres and JK Tyre. BKT will have to compete with them.
Rajiv Poddar, JMD, BKT Tires said, “The two-wheeler tyre industry has reported a compounded annual growth rate of 8.5%. Considering the tremendous potential of the market and its reach in rural India, we plan to introduce our flagship tyres at sizes that permeate more than 70% of the total market scope. We also plan to introduce tyres in other sizes to provide complete services to our buyers and gather at least a 10% market share of the Indian agricultural transportation market within the next few years.”
Rural headway
BKT Tires plans to make significant headway in rural transportation through the rapid proliferation of the highest quality two-wheeler tyres across the remote areas in the country. BKT also aims to provide continuous, round-theyear business opportunities to its dealers. Entry into the mass market like the two-wheeler tyre segment is expected to enhance BKT’s visibility in the rural markets across India.
The 2 flagship pattern types, are fully equipped with features that make riding safer, faster and more enjoyable. BK Pilot, the front tyre, has features like directional grooves for better steering, wide shoulders to establish firm on-road contact and high-performance. Rear tyre BK Raftar combines aggressive design with rigid looks. Made of a high-performance compound, it gives an excellent wet grip on the road. BKT has 5 state-of-the-art production sites, each in Aurangabad, Bhiwadi, Chopanki, Dombivali and Bhuj, employing more than 7,000 people. With its proficiency, quality of products and superior services, BKT has developed into a global player in this segment with a 6% market share and a sales volume of around Rs 3500 crore.
R&D investments
BKT invests about 3.5% of its annual sales in research and development (R&D). According to the company, its R&D division deals with anything related to the technical product development, from designing a new tyre to developing new compounds to improve product performance and to implement more efficient production processes.
BKT’s constant focus is on developing more enhanced off-highway tyre solutions to make its products more reliable, more competitive and highly technological. Each tyre developed by the R&D division is subjected to strictest quality controls to ensure best performance. The careful analysis of user’s expectations goes hand in hand with the innovative design of new materials and compounds.
The R&D division consists of about 90 staff members including researches, engineers and technicians working in different teams and departments across its production sites. The R&D Centre in Chopanki hosts several laboratories. All the R&D activities are coordinated at the headquarters in Mumbai.