Taking aim at the $600 billion U.S. automotive aftermarket...Three Hankook & Company Group affiliates form united front

[Financial News] Hankook & Company Group is stepping up its push into the U.S. automotive aftermarket, valued at $600 billion (about 860 trillion won), by bringing together its battery, thermal management and tire businesses. Its strategy is for three key affiliates—Hankook & Company Co., Ltd., Hanon Systems and Hankook Tire & Technology Co., Ltd.—to join forces and expand business opportunities in North America. In particular, the group plans to build its influence beyond the traditional replacement-parts market and into the future mobility market, focusing on EV-specific parts and next-generation thermal management technologies.
Hankook & Company Group said on the 4th that three key affiliates—Hankook & Company, Hanon Systems and Hankook Tire & Technology—participated together in AAPEX 2026, a global automotive parts trade show that opened in Las Vegas, U.S., on the 3rd (local time).
At the show, which runs through the 5th, the three companies are operating a joint exhibition booth for the second consecutive year, following last year. They aim to expand engagement with North American customers by leveraging a business portfolio spanning key vehicle components, from batteries and thermal management systems to tires.
At the front of the exhibition booth, they placed a vehicle model fitted with batteries, thermal management systems and tires from all three companies. The display highlights at a glance both the role of each affiliate’s products and how their technologies work together, while underscoring the group’s technological competitiveness through the integration of its individual businesses.
The fast-growing U.S. aftermarket is the main focus of the joint participation. According to the Auto Care Association, the U.S. automotive aftermarket—which includes parts, repair and service—is forecast to reach $599.7 billion this year, up 5.4% from the previous year. It is expected to grow to $676.5 billion by 2029.
Demand for parts replacement, maintenance and repair is rising, particularly as the average age of U.S. passenger cars and light trucks has climbed to a record 12.9 years. Demand for specialized repairs, driven by advances in automotive electronics such as advanced driver-assistance systems (ADAS), is also supporting market growth.
Hankook & Company is targeting the North American market with its global strategic product, Hankook AGM batteries. With high starting performance and charging efficiency, AGM batteries reliably supply power to vehicles equipped with stop-start systems and to hybrid vehicles.
At the show, the company presented Electrified AGM, a concept battery incorporating technologies designed for future mobility. It plans to strengthen its local supply chain by linking its U.S. sales subsidiary with its production base in Tennessee, while meeting customer demand through its global production network, including plants in Daejeon and Jeonju. It is also expanding the development of next-generation battery solutions, including lithium-ion batteries.
Hanon Systems is looking to expand its thermal management aftermarket business in North America, building on its original equipment (OE) expertise developed through supplying global automakers. Its strategy is to secure new customers by combining its experience supplying automakers with the group’s distribution and dealer network.
At the show, the company unveiled for the first time a production version of its next-generation integrated thermal management solution, the HICE module. HICE integrates key refrigerant thermal management components—including an electric compressor, electronic expansion valve, water-cooled condenser and internal heat exchanger—into a single unit.
By consolidating components, the system reduces complexity and simplifies assembly while making better use of space inside the vehicle. It was first applied in the BMW iX3 and was also named a finalist for the 2026 Automotive News PACE Awards.
Hanon Systems also displayed a range of thermal management components, including mechanical and electric compressors, radiators, condensers, cooling modules and electric water pumps. The company plans to expand its business base in North America with a product lineup for vehicles ranging from those with internal combustion engines to EVs.
Hankook Tire & Technology put its iON brand of EV-specific tires and its futuristic airless tires front and center. Its flagship product, the Hankook iON evo SUV, is designed around EVs’ high weight and driving characteristics, balancing low noise, grip, mileage and low rolling resistance.
The company also unveiled airless tire technology that requires no air. Its intelligent airless tire, i-Flex, is designed for future mobility applications such as robotaxis, while Concept S points to the future direction of tires made with 100% sustainable materials in 2050.
During the same period, Hankook Tire & Technology will also take part in the SEMA Show, a tuning and automotive accessories exhibition held in Las Vegas, to expand its engagement with customers in North America’s performance and tuning markets.
Hankook & Company Group plans to use the joint exhibition to connect the customer networks of its affiliates and strengthen cooperation with North American distribution partners. It also aims to identify new business opportunities by introducing other affiliates’ products to its existing customers.
A Hankook & Company Group representative said, "For the second consecutive year, our joint participation in AAPEX allows us to showcase to global customers the group’s technological competitiveness and business capabilities across batteries, thermal management and tires." The representative added, "We will turn synergies among our affiliates into new business opportunities and further strengthen the standing of our global integrated brand, Hankook."

[email protected] Dong-ho Kim Reporter