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Major Shipbuilder Secures U.S. Military Ship Orders
Akihiro Komuro South Korea is collaborating with the government and private sector to strengthen its ties with the U.S. in the shipbuilding industry. Major companies, such as HD Hyundai Heavy Industries, are establishing bases in the U.S., and the government is supporting efforts to train individuals. They are taking advantage of the Trump administration’s push to revive the shipbuilding industry to gain a share of the market for building and repairing military ships. South Korea aims to catch up with China, which holds over half of the global shipbuilding market share, by leveraging its alliance with the US.
In late June, HD Hyundai emphasized its partnership with Edison Chouest Offshore (ECO), a U.S. shipbuilding company. The two companies plan to build LNG-fueled container ships together by 2028. ECO has five commercial shipbuilding bases in the US and specializes in offshore support vessels (OSVs); however, orders have been sluggish in recent years.
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Heavy Truck Group Joins Forces with Toyota
Jack Hao China National Heavy Duty Truck Group and Toyota Motor Corporation signed a strategic cooperation agreement on April 25, at Toyota’s headquarters in Nagoya, Japan.
Toyota Motor Corporation possesses world-leading hydrogen fuel cell technology, and China National Heavy Duty Truck Group is a leading enterprise in China’s commercial vehicle industry. The hydrogen fuel cell tractor jointly developed by the two parties has already been delivered to the market in batches. In the future, the two sides will establish more extensive cooperation in the fields of cooperative research and development, demonstration and operation, promotion and application, and business model innovation of hydrogen fuel commercial vehicles, and work together to create a new ecosystem for the zero-carbon logistics industry chain.
Source: CNHTC Read The Article
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India’s Used Car Market Shifts Toward Profitability
Aditya Kondejkar India’s used car market has entered a high-growth phase, reflecting a clear structural shift in consumer demand. After years of sluggish expansion, the segment grew 8% in FY25, with FY26 growth expected to touch 10%.
Sales volumes are set to cross the 6-million-unit mark this fiscal. The used-to-new car sales ratio has reached 1.4x, a significant increase from less than 1.0 five years ago. This growth is being driven by a rising preference for value-for-money mobility solutions, especially in a post-pandemic landscape where cost sensitivity remains high.
The used car segment is also increasingly seen as a reliable, first-choice option for new-age consumers, thanks to greater digital access and easier financing. These dynamics indicate that used vehicles are no longer a fallback option, but a mainstream choice for a broad swath of buyers.
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Marine Exhibition 2025 Featured Industry Collaboration
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Natasa Mulahalilovic The Electric & Hybrid Marine Exhibition 2025 held June 24 – 26, 2025, featured increased corporate collaboration and demonstrated a focus on sustainability, the adoption of immersive technologies, and enhanced connectivity.
These development trends were built on a collaborative approach to maritime electrification and decarbonization and reflect incremental improvements as well as a strategic shift toward smarter, greener, and more autonomous marine operations.
The show was held at the RAI Amsterdam complex and lasted three days. About 200 exhibitors participated, including leading companies in electric and hybrid marine technology, propulsion, and charging infrastructure.
Representatives of Power Systems Research attended the show to collect data on new products and to talk with exhibitors and attendees about industry trends.
The 2025 Exhibition emphasized port electrification, alternative fuels, and infrastructure development.
The next exhibition will be held in Chicago, August 20 – 21, 2025, indicating that this clean marine movement is growing worldwide. The Electric & Hybrid Marine Exhibition is becoming a key place for sharing new ideas, working together, and aiming for cleaner oceans and greener shipping. PSR
Download the complete Show Report here.
Natasa Mulahalilovic is Marine Pleasure Boat Analyst-Europe for Power Systems Research
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2025 NA Crawler Production
Sign-up for DataPoint Reports3,000 units is the estimate by Power Systems Research of the number of Crawlers expected to be produced in the U.S. in 2025.
There are two types of Crawlers: a Crawler Excavator and a Crawler Loader.
A Crawler Excavator is a self-propelled crawler mounted on heavy equipment that is designed to dig or move large objects and is classified by its mode of locomotion. The main function of a Crawler Excavator is to dig holes or trenches for construction related activities.
A Crawler Loader is a piece of mobile construction equipment used to load materials; it’s used primarily in tough, off-road terrain. It’s similar to a wheel loader, except it has treads instead of wheels.
This product information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers. PSR
For details, download the complete report above.
Carol Turner is Senior Analyst, Global Operations, for Power Systems Research
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What Will Happen in Hino, Mitsubishi Fuso Merger?
Akihiro Komuro Hino Motors and Mitsubishi Fuso Truck and Bus Corporation have reached a final agreement to merge their operations in April 2026, but what will this mean? A basic agreement was initially reached in 2023, but the decision was delayed due to irregularities in Hino’s engine performance certifications. The merger will finally move forward following Hino’s settlement with U.S. authorities.
The commercial vehicle industry has undergone rapid changes over the past two years of stalled negotiations, so both companies will need to quickly demonstrate the benefits of the merger to make up for lost time. The biggest change is the tightening of environmental regulations.
In May 2024, the European Union (EU) strengthened CO₂ emission regulations for large trucks. By 2030, emissions must be reduced by 45% compared to 2019 levels. This is an increase from the previous target of 30%. By 2040, emissions must be reduced by 90%, a very strict requirement.
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Brazil May Surpass Europe in Ag Machinery Sales
Fabio Ferraresi Deere & Company estimates that Brazil will become its second-largest global market within the next five to ten years, surpassing Europe in sales of tractors, harvesters, and other agricultural equipment.
The forecast is based on the expansion of Brazilian agricultural production, particularly soybeans, corn, and sugarcane. According to Cristiano Correia, Vice President of Production Systems for Latin America, “no other region shows a compound growth rate in grain production comparable to Brazil’s over the next decade.”
The Illinois-based company is holding its first Investor Day in Brazil in over a decade in 2025, gathering around 40 investors from North America, Europe, and Asia.
Deere projects a 27% increase in Brazil’s planted grain area by 2035 and expects corn-based ethanol production to double during the same period.
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