Apollo Introduced Apterra HT2, ActiZip R3 and ActiZip F2 Tires
The
renowned tire maker of India, introduced new 4×4/SUV and two-wheeler
tires for the Indian and European markets
India:
Apollo Tyres, in
association with its Global R&D Centers situated in Chennai, India and
Enschede, the Netherlands, launched a brand new Apterra HT2, ActiZip F2 and
ActiZip R3 tires. The Apterra HT2 tire is designed for the 4×4/SUV segment,
whereas ActiZip F2 and ActiZip R3 tubeless tires are designed for two-wheeler,
i.e. motorcycles in the country.
With its new tire’s release in the
Indian industry, the company targets to increase its volume share, specifically
in the India’s SUV tire market to nearly 300,000 units / month.
Apterra HT2 by Apollo would be available
in six varied rim diameter sizes ranging between 16- to 18-inches. Also, the new
tire would be available in T, H and V speed ratings in the market. On the other
hand, Apollo ActiZip R3 tubeless tire would be available in three new sizes,
whereas Apollo ActiZip F2 tubeless tire would be available in two new sizes.
The all-new Apollo Apterra HT2 has
already been introduced in the India market, and is scheduled to be unveiled in
various other markets of Europe in coming period.
TechSci Research believes that the decision
of Apollo to introduce a new 4×4/SUV and motorcycle tires would strengthen the company’s
current tire portfolio in the Indian market. Moreover, considering the growing
demand for SUVs in the country, the company would be able to penetrate a huge
chunk of consumers with its Apterra HT2 tire, across the region in following
years. In addition, it is forecast that with the addition of three new tires in
its portfolio, Apollo would be able to give an intense competition to other
players in the India tire market over the coming period.
According to a recent report published
by TechSci Research, “India
Tire Market Forecast & Opportunities, 2021”, the country’s tire market is forecast
to witness a CAGR of over 9% during 2016-2021. Though the replacement tire
demand had a majority share in 2015, the OEM tire demand is expected to outpace
replacement tire demand during 2016-2021. In 2015, Northern region accounted
for the largest share in India’s tire market, followed by Southern, Eastern and
Western regions of the country. Over the next five years as well, Northern and
Southern regions are forecast to continue their market dominance and grab a
cumulative market share of nearly 59% in 2021. Two-wheeler tire segment, which
accounted for a volume share of over 50% in the country’s tire market in 2015,
is also expected to maintain its position as the largest tire segment over the
next five years.