Hankook & Company Group, Hanon Systems Join Forces in Germany to Target Europe’s KRW 150 Trillion Auto Aftermarket

[Financial News] Hankook & Company Group is joining forces with Hanon Systems to make a bold push into Europe’s KRW 150 trillion automotive aftermarket. As Europe undergoes a market transformation driven by the shift toward electrification and tighter sustainability regulations, the two companies plan to combine their core strengths in batteries and thermal-management solutions to strengthen their position in the global mobility-parts market. Industry attention is focused on the event as a platform for showcasing business synergies across the group following its acquisition of Hanon Systems.
Hankook & Company Group announced on the 9th that it will participate in Automechanika Frankfurt 2026, an automotive-parts exhibition taking place in Frankfurt, Germany, from the 8th to the 12th (local time). Launched in 1971, the event is held every two years and features automotive-parts and service companies.
At this year’s event, Hankook & Company’s battery business, the ES Business Division, and Hanon Systems, an automotive thermal-energy management solutions company, will jointly operate a “Hankook” brand exhibition pavilion. This marks the companies’ second joint participation in a global exhibition, following AAPEX 2025 in Las Vegas last November.
Their primary target is Europe’s aftermarket, one of the fastest-growing markets in the world. The global automotive aftermarket is expected to reach KRW 611 trillion ($446 billion) in 2025. Europe accounts for KRW 150 trillion ($109.7 billion), or 24.6% of the total, making it a key market. Demand for high-value-added parts continues to grow in Europe due to strict vehicle inspection standards, rising demand for certified parts and longer vehicle lifespans.
Hankook & Company’s ES Business Division will showcase its premium battery lineup—AGM, EFB and MF—which incorporates the company’s latest automotive lead-acid battery technologies. Its flagship AGM batteries last up to four times longer than conventional MF batteries and can provide stable power even in modern vehicles with high electricity consumption.
With diversified manufacturing capabilities based on production facilities in Korea and the United States, Hankook & Company can respond flexibly to changes in Europe’s regulatory environment concerning Chinese automotive parts. The company plans to use this advantage to ensure a stable supply of premium batteries to the European market. It has also laid the groundwork for expansion by establishing a subsidiary in Frankfurt, Germany, and a logistics base in Hamburg in 2022.
Hanon Systems will use the exhibition to unveil its detailed aftermarket strategy to European partners for the first time. Building on its “Driven by OE Expertise” capabilities accumulated through supplying parts to global automakers, the company is seeking new growth opportunities in the aftermarket. Europe is Hanon Systems’ largest market, accounting for more than 35% of its total revenue. The company had focused primarily on the OE market for automakers, but has expanded into the aftermarket as electrification and vehicle aging increase the importance of thermal-management parts.
A Hankook & Company Group official said, “We also plan to explore ways to apply Hankook Tire’s extensive distribution network and dealer-network experience, built in Europe’s replacement-tire market, to Hanon Systems’ business. We expect synergies to gain momentum not only through the combination of the two companies’ respective expertise, but also through the group’s experience in the mobility market.”
[email protected] Dong-ho Kim Reporter