United States Aftermarket Automotive Parts & Components News

Recent industry report about United States Aftermarket Automotive Parts & Components company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ United States Aftermarket Automotive Parts & Components Market industry experts.

United States Aftermarket Automotive Parts & Components News

  • December 2022: BorgWarner Inc announced plans to spin off their Fuel Systems and Aftermarket businesses into a separate, publicly traded company, which they are currently calling "NewCo." NewCo also intends to capitalize on growth trends in gasoline direct injection (GDI) and hydrogen injection systems. With this announcement, BorgWarner believes it will eventually meet or exceed its stated target of 25% revenue from EVs by 2025.
  • August 2022: Cummins Inc. announced the completion of its acquisition of Meritor, Inc. Cummins would be positioned as a leading provider of integrated powertrain solutions across internal combustion and electric power applications with the integration of Meritor's products and capabilities in the axle and brake technology. Cummins plans to provide market-leading ePowertrain solutions to global customers by accelerating Meritor's electrification investment and integrating development into its New Power business. Cummins intends to use its new global footprint to accelerate the growth of its core axle and brake businesses by serving customers in commercial trucks, trailers, off-highway, defense, specialty, and aftermarket.
  • June 2022: Meritor, Inc. launched the ProTec Independent Front Suspension (IFS) for motorcoach applications. Meritor's first suspension specifically designed for the ride quality and heavy load requirements of motorcoaches is the new IFS MIS-20E. This product is Meritor's first fully integrated suspension and steering system designed to be a drop-in replacement for bus and coach manufacturers. It is based on field-proven technology. The ProTec IFS has a GAWR of up to 20,000 pounds and twin-tube performance dampers for control and comfort while providing excellent overall tire life.
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  • March 2024: Ford announced the integration of dual on board chargers into its E-Transit electric commercial van, capable of charging at a power of 176 kW. The company stated that its latest incorporation will help vehicles charge from zero to 100% in six hours and eleven minutes when using the Ford Pro Series 2 80A charging station.
  • July 2023: Stellantis announced its collaboration with Saft and the French National Center for Scientific Research to manufacture an electric vehicle charging solution that eliminates the usage of inverters and on board chargers to reduce vehicle weight while improving the vehicle's efficiency. Such innovations are a significant headwind for the on board charger market, as adopting this new technology will hamper the market's growth.
  • April 2023: Coulom Solution announced its development of an advanced 20 kW on board charger suitable for its usage in commercial vehicles, especially for the North American market. The new on board charger aims to reduce the overall mass and eliminates extra high-voltage cabling that helps lower the product's price. The company expects that this will allow it to integrate the commercial vehicle on board charger industry due to its price advantage.
  • December 2023: Lincoln Electric Holdings Inc., the Velion DC Fast Charger for electric vehicles. The charger, designed with industrial-grade components, is a Level 3 DC fast charger platform that delivers fast charging speeds with unparalleled reliability for ultimate performance and uptime.
  • April 2023: ABB E-mobility announced the investment in the London-based, deep-tech start-up company Switch. The investment marks the beginning of a partnership with ABB E-mobility, enhancing their comprehensive range of smart EV charging solutions. Together, they aim to innovate the EV charging experience for both operators and drivers, creating a seamless ecosystem. Financial terms of this transaction were not disclosed.
  • January 2024: Wabtec Corporation secured a massive order worth USD 157 million to supply high-quality brake systems to Siemens India. The order is specifically intended for use in the manufacturing of powerful 9000 horsepower (hp) locomotives that will be utilized by the Indian Railways.
  • December 2023: Tevva, one of the leading electric vehicle manufacturers in the United Kingdom, collaborated with ZF Friedrichshafen AG. Through this partnership, the truck uses an electronic brake system (EBS) that blends regenerative and compressed-air brakes for improved safety and driver responsiveness.
  • January 2024: BLT, a leading metal additive manufacturing (AM) company, played a crucial role in the design and production of calipers and caliper brackets for XPeng Motors and its subsidiary XPENG AEROHT, marking the inception of their collaboration in 2022.
  • November 2023: Neotech revolutionized automotive performance with the launch of an advanced 6-piston brake caliper at SEMA 2023.
  • September 2023: Brembo introduced OCTYMA, an aluminum 8-piston brake caliper blending style with performance. Continental unveiled its plans for a groundbreaking "green fist" brake caliper designed for EVs. It is undergoing targeted development to meet electric vehicle brake requirements, with integration expected within the typical lead time of two to three years.
  • December 2023: Jupiter Wagons Limited secured a contract worth INR 1,617 crores (~USD 195 million) from the Ministry of Railways to manufacture and supply 4,000 BOXNS wagons.
  • October 2023: The VTG iWagon, the UK’s pioneering digital freight wagon, has been developed through a collaboration between VTG Rail UK and Knorr-Bremse Rail Systems (UK). The iWagon boasts 12 digital innovations that pave the way for future technologies. These innovations, facilitated by the VTG Connect gateway, include axle generators, control over wheelset slides in low adhesion conditions, and the patented Wheel Flat Prevention (WFP) system. Additionally, the iWagon incorporates Brake Condition Monitoring (BCM), eliminating the need for annual brake tests.
  • February 2023: Continental AG unveiled the VF TractorMaster, the largest tractor tire of its kind, boasting an impressive diameter of 2,147 millimeters. This heavyweight tire weighs 475 kg and has a remarkable load index of 10,300 kg.
  • May 2022: Apollo Tires made a significant advancement in agricultural tires by introducing the Virat range, the next-generation series of tires, in Chandigarh, Northern India.
  • February 2022: Michelin showcased its latest innovation, the New EVOBIB Agricultural Tire, offering improved longevity, sustainable traction, reduced soil compaction, and lower fuel consumption, all in one tire package.
  • June 2023: Nidec Corporation announced it had successfully developed a new electric power steering motor power pack*1 ('EPS-PP').
  • August 2022: F Friedrichshafen announced plans to invest CNY320 million (USD 47 million) to expand capacity for power steering systems in Shanghai to meet growing local demand.
  • September 2022: Marelli opened its new Technical R&D Center in Bangalore, Southern India. Through this expansion, the company will focus on major technology areas such as electronics, automotive lighting, and both internal combustion powertrain and electric powertrain.
  • April 2022: WESEM launched a new CRP2 work lamp featuring a Combo beam. Lamps consist of beam angles that have an effect on lighting conditions in front of and around vehicles. CRP2 lamps are a great alternative to halogen lamps.
  • January 2023: Stellantis NV and Terrafame Ltd officially inked a supply deal for nickel sulfate, a crucial component in electric vehicle (EV) batteries. Commencing in 2025, Terrafame, headquartered in Finland, will serve as the supplier for Stellantis, providing nickel sulfate over five years. This collaboration aligns with Stellantis' robust electrification strategy and addresses a substantial portion of the company's demand for environmentally sourced nickel within the region.
  • November 2023: LG Energy Solution Ltd, a South Korea-based company, is set to accelerate the mass production of mid-nickel, high-voltage lithium batteries, aiming to commence operations a year earlier than initially planned. This strategic move responds to the growing trend among electric vehicle manufacturers to embrace cost-effective battery solutions, contributing to the overall objective of lowering electric vehicle prices.
  • September 2023: Marelli launched a new range of smart actuators aimed at electric cars, which simplifies the actuation of complex vehicle functions. The new smart actuators come with an electronic module that controls the device and connects it to the vehicle's electronic network.
  • March 2022: ZF Friedrichshafen AG introduced a new Commercial Vehicle Solutions division for heavy-duty trucking applications. The company introduced a product portfolio including chassis technology, air management, brake actuators, and others.

USA Aftermarket Car Parts Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)