Bridgestone India is expecting around 7-8 per cent growth in the replacement demand this calendar year after seeing a disruption owing to multiple factors in 2024, a top company executive has said. The Indian arm of the Japanese tyre company Bridgestone Corporation also said that along with increasing its product offerings, it is also expanding its market footprint by ensuring its presence in tier 3 and 4 towns of the country. The company in November announced a USD 85-million investment plan for enhancing production capacity and capability across its two plants in the country to reinforce its premium-mass strategy, “We are focusing on providing premium products and services to Indian consumers as part of our mid-to-long term strategy with focus on sustainability at the core of our business. India is the fastest-growing market in our portfolio and our recently announced investments of USD 85 million is a reflection of our confidence in the Indian market,” Hiroshi Yoshizane, Managing Director at Bridgestone India told PTI.
Stating that the company aims to be the premium mass leader in the passenger cars radial tyre segment in India, he said, “We have a very positive outlook as far as the Indian market is concerned.”
“Last year (2024) saw a lot of disruption of demand owing to multiple factors. We see the demand coming back in 2025 towards around 7-8 per cent,” he said.
These efforts, the USD 85-million investment plan, which kickstarts this year, are expected to increase total production capacity at the Pune plant by approximately 1.1 million tyres annually by 2029, Yoshizane said.
They will also improve capability to ensure premium tyre production at the Indore plant, he said.
As part of this investment, Bridgestone India Pvt Ltd (BSID) is also setting up a satellite technology centre at the Pune plant this year to produce “Dan-Totsu products”.
“These products as the Japanese name suggests will be “the absolute and clear leader” in their segments. These products will be customized optimally for the Indian market with “ENLITEN” technology”, which is the base technology for product design,” he said.
The company displayed this latest tyre technology at the on-going Bharat Mobility Global Show.
With a focus on fuel efficiency, extended tyre life, and environmental impact, ENLITEN technology sets a new benchmark for tyres that cater to both conventional and electric vehicles, according to the company.
The market sets big expectations on the steady and healthy growth of industry driven by domestic demand, he said and added that Bridgestone India is focusing on catering to increasing domestic market demand.
Predictions of good GDP growth and government spending in the rural sector will further grow the market, he said and noted that while the company is increasing its product offerings, it is also expanding its market footprint by ensuring the presence in tier 3 and 4 towns.
He also said that at present the company enjoys a market share of 20 per cent in the replacement segment and the long-term aspiration is to reach 25 per cent.
“Bridgestone India plans to sustain its market leadership in the passenger segment and grow in line with the industry demand,” he said.
