With the increase in the number of two-wheelers on Indian roads, the tyre business is booming as well. Apollo, one of the major players in the tyre industry is aiming for leadership in the premium two-wheeler segment in India, and service the global markets with high-end bias and steel radial tyres. The premium segment constitutes nearly 20% of the two-wheeler market in India and is the fastest-growing one.
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This segment is witnessing an increasing shift and growth due to rapid urbanisation, rising consumer income levels and increasing young population, which is driving the demand for tyres as well in this category. India is the largest two-wheeler market in the world, and still has a headroom for further growth. In the current pandemic era as well, there is demand coming in as people are moving away from shared/public transport and gradually moving to own a personal vehicle, including a two-wheeler, further driving the demand.
To service this growing segment, Apollo Tyres today formally inaugurated a dedicated commercial facility to manufacture two-wheeler radial and cross-ply tyres. The plant was inaugurated virtually by the Chairman, Onkar S Kanwar, while Vice Chairman and MD, Neeraj Kanwar and other Supervisory Board members of the Company also joined on this occasion, along with select Business Partners.
Also read: Government Imposes Restrictions On Import Of Tyres, Is This A New Start?
