CEAT Targets Growth in Premium Car Tyre Market

Quick Summary

• CEAT Ltd is focusing on strengthening its presence in the premium ultra-high performance and luxury four-wheeler tire segment.
• The company launched three new products: ZR-rated tyres, CALM Technology, and Run-Flat tyres.
• MD and CEO Arnab Banerjee noted that the 17-inch-plus premium tyre segment could grow from 8-10% of the aftermarket to 25-30% in three to five years.
• CEAT aims to secure at least a 16% market share in this growing segment,aligning with its overall market position as the third-largest player at 16%.
• market leaders in passenger car radial tyres are Bridgestone (1st), followed by Apollo Tyres (2nd).
• The new premium range will be available across key Indian cities starting April.

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Indian Opinion Analysis

CEAT’s strategic focus on the premium car tyre market reflects anticipation of industry trends favoring high-performance luxury segments. With projected rapid growth in demand for larger tyres over the next few years, CEAT’s introduction of advanced products positions it as a technology-driven contender. Achieving leadership requires capturing notable ground against stalwarts like Bridgestone and apollo Tyres, currently leading this space.This initiative has potential implications for India’s automotive aftermarket dynamics, not onyl promoting technological advancements but also signaling evolving consumer preferences towards more premium solutions. Regional availability bolsters accessibility nationwide while presenting opportunities for competitive disruption.A successful penetration into this high-growth sector would solidify CEAT’s standing in an increasingly segmented marketplace.