Cummins
Cummins Inc. is an American multinational corporation headquartered in Columbus, Indiana, that designs, manufactures, distributes, and services diesel, natural gas, and electrified engines, generators, filtration systems, and power generation products for applications including on-highway trucks, off-highway equipment, marine vessels, and stationary power.[1][2] Founded in 1919 by Clessie Lyle Cummins, the company has evolved from an early innovator in diesel engine technology—developing its first patented engine model that year—into a global power solutions provider operating through segments such as Engine, Distribution, Components, Power Systems, and Accelera for zero-emissions technologies.[3][4] With over 75,000 employees worldwide and annual revenues exceeding $34 billion as of recent fiscal years, Cummins holds significant market positions in heavy-duty diesel engines and has expanded into alternative fuels and electrification to address emissions regulations and energy transitions.[5] The firm pioneered advancements like early turbocharging in mass-produced engines and continues investing in hydrogen and battery-electric systems, positioning itself as a leader in propulsion for commercial vehicles and industrial uses.[6] A notable controversy arose in late 2023 when Cummins agreed to pay a record $1.675 billion civil penalty to the U.S. Environmental Protection Agency and California Air Resources Board for installing software-based defeat devices in approximately 630,000 Ram pickup truck engines from model years 2013–2019, which bypassed emissions controls during normal operation and allowed excess nitrogen oxide pollution, violating Clean Air Act standards.[7][8] The settlement, finalized in January 2024, also mandated recalls and repairs without admission of wrongdoing, highlighting regulatory scrutiny on diesel manufacturers amid broader dieselgate-style enforcement.[9]History
Founding and Early Innovations (1919–1930s)
The Cummins Engine Company was founded on February 3, 1919, in Columbus, Indiana, by Clessie Lyle Cummins, a self-taught mechanic and inventor, with backing from banker William G. Irwin. Appointed president at age 30, Cummins initially produced compression-ignition oil engines under license from the R.M. Hvid Company, adapting these designs to capitalize on the efficiency advantages of diesel technology over gasoline engines.[3][4] In 1921, Clessie Cummins patented a direct-injection fuel system that resolved common diesel issues like cold-start difficulties and inconsistent power delivery by precisely timing fuel delivery into the combustion chamber. This innovation underpinned the Model F engine, launched for production in 1924 and initially targeted at marine uses before broader applications. The company expanded facilities in 1926 with a new plant at Fifth and Wilson Streets and introduced the Model U in 1928, a four-cylinder engine suited for early automotive and industrial demands, alongside the Model K for stationary and marine markets. A single-disc fuel system debuted in 1929, further refining efficiency.[3][4] Amid financial strains in the late 1920s, Cummins demonstrated diesel viability in passenger vehicles, including installing an engine in a car to convince backers and avert potential liquidation. Promotional efforts intensified in 1931 with a Model U-powered truck setting a New York to Los Angeles endurance record of 97 running hours and a Model H-powered truck completing 14,600 nonstop miles at the Indianapolis Motor Speedway; diesel engines also debuted at the Indianapolis 500 that year, finishing 13th while consuming just 31 gallons of fuel. The Model H series, with the H672 variant entering production in 1932 for trucking, powered the first U.S. commercial diesel fleet for Purity Food Stores and enabled a Mack bus to achieve a 78-hour New York to Los Angeles record at average speeds of 65 mph. These milestones, coupled with the establishment of the first distributorship in 1933, propelled Cummins toward $1 million in sales by 1936 and its inaugural profit in 1937.[3][10]World War II and Post-War Expansion (1940s–1960s)
During World War II, Cummins Engine Company ramped up production to support the U.S. military, manufacturing diesel engines for naval generators, heavy-duty trucks, minesweepers, and land-based power units. Specific outputs included 4,443 HB-600 engines (150 bhp each) for trucks like the White Model 1064, Reo 28-XS, and Federal 604; 1,122 Model K engines (75 hp each) for 561 YMS minesweepers; and 42,644 Model A six-cylinder engines for small vessels by 1944.[11] These engines powered applications from cargo transport to magnetic pulse generators for degaussing loops. For its contributions, Cummins earned the Army-Navy "E" production excellence award three times: on January 28, 1943; March 10, 1944; and July 17, 1945.[11] Post-war, Cummins capitalized on the U.S. economic boom and infrastructure demands, with its N Series engines dominating the road-building era and powering more than half of heavy trucks by the early 1950s. In 1947, J. Irwin Miller became president, guiding the company's first public stock offering and emphasis on research; by 1955, Cummins held 51% of the U.S. diesel truck market.[3] The 1954 invention of the PT (pressure-time) fuel injection system improved efficiency and metering, enabling dominance in trucking and boosting annual sales beyond $100 million by the late 1950s.[12][13] Expansion accelerated internationally starting with the 1956 opening of the Shotts manufacturing plant in Scotland, Cummins' first facility abroad.[3] By 1959, the company established Motores Cummins Diesel de Brasil Ltda. and acquired Seymour Woolen Mills; alliances with Komatsu (1962, East Asia) and Kirloskar (1962, India) followed, yielding operations in 98 countries by the decade's end.[3][14] Innovations included a turbocharged JBS-600 engine's pole position at the 1952 Indianapolis 500 (139 mph average) and Clessie Cummins' late-1950s compression release engine brake, licensed to Jacobs Vehicle Systems in 1961 for commercial production.[3][15] Further advancements encompassed 1964 natural gas engines (100–200 hp) and the 1966 founding of the ReCon division in Memphis for engine remanufacturing.[3] The $22 million Cummins Technical Center opened in 1967 on 24 acres, enhancing R&D capabilities.[3]Globalization and Technological Advancements (1970s–1990s)
Cummins accelerated its globalization strategy in the 1970s through key acquisitions, including the 1973 purchase of Holset Engineering Company Ltd. in England for $27 million, which provided turbocharging expertise and strengthened European operations.[16] [3] By the mid-1970s, international revenues constituted 25 percent of total sales, driven by expanded market access.[17] Further expansion included the 1980 opening of the San Luis Potosí engine plant in Mexico, initially producing 25 engines daily, and the 1985 Juarez Fuel Systems plant for pumps and injectors.[3] In Asia, a 1981 licensing agreement with China's Technical Import Corporation enabled production of NH, K, and KV engines, marking early technology transfer.[3] The 1990s saw deepened penetration into high-growth regions via joint ventures, such as the 1993 Tata Cummins partnership in India for Euro-1 compliant engines, and the 1997 acquisition of a 51 percent stake in Kirloskar-Cummins, rebranded as Cummins India Ltd.[3] Holset established manufacturing plants in Dewas, India, and Wuxi, China, in 1998 to support regional turbocharger demand.[3] These initiatives, alongside a 1976 milestone of $1 billion in annual sales, underscored Cummins' shift toward a multinational footprint amid rising global demand for diesel power.[3] Technological advancements complemented expansion, with Holset's integration yielding the first turbocharged Cummins engine in 1980, boosting power, efficiency, and emissions performance without engine redesign.[3] The decade introduced electronic controls, including the 1984 B5.9-liter engine for automotive and industrial applications and the 1985 formation of Cummins Electronics for sensors and modules.[3] In 1990, CELECT electronic systems preempted 1991 EPA emissions requirements by a year, while 1995's CENSE enabled remote diagnostics, enhancing reliability in sectors like mining.[3] The 1970s yielded over 175 patents in areas such as piston and cylinder design, and late-1990s innovations included the ISX15 heavy-duty engine and QSK60/QSK45 series for high-horsepower needs, alongside commitments to future emissions compliance via a 1998 EPA decree.[18] [3]21st Century Growth and Diversification (2000s–Present)
In the early 2000s, Cummins underwent a strategic rebranding from Cummins Engine Company to Cummins Inc. in 2001, signifying its evolution beyond diesel engines into a diversified provider of power solutions, including filtration, exhaust systems, and power generation.[3] This period marked accelerated global expansion, with international sales exceeding U.S. sales for the first time in 2005, driven by joint ventures such as the 2007 50/50 partnership with Beiqi Foton Motor in China to produce light-duty diesel engines for commercial vehicles.[3] Revenue growth reflected this shift, rising from roughly $6.7 billion in 2000 to over $24 billion by 2021, fueled by demand in emerging markets and industrial applications.[19] Technological diversification intensified with a focus on emissions compliance and hybrid systems. In 2001, Cummins launched Cummins Emission Solutions to develop aftertreatment technologies amid tightening regulations, followed by the introduction of diesel-electric hybrid heavy trucks in 2005 and over 1,000 hybrid buses in North America by 2006.[3] The company merged its Power Generation and High Horsepower segments into Power Systems in 2016, enhancing integrated offerings for data centers and mining. By 2017, Cummins unveiled the AEOS, the world's first all-electric Class 5 heavy-duty truck, signaling entry into zero-emission mobility.[3] The 2010s and 2020s saw further broadening into electrification and alternative fuels through acquisitions and internal development. In 2018, Cummins established its Electrified Power segment, acquiring Brammo for electric motors, Johnson Matthey Battery Systems for energy storage, and Efficient Drivetrains for power electronics. A 2017 joint venture with Eaton formed Cummins Emission Solutions for automated transmissions. Key deals included the $3.7 billion acquisition of Meritor in 2022, bolstering drivetrain, braking, and mobility components, and the 2025 purchase of First Mode's assets for hybrid retrofit solutions in mining and rail.[20] [21] Revenues peaked at $34.1 billion in both 2023 and 2024, with North American sales up 1% in 2024 despite international softness.[22] Sustainability efforts underpinned diversification, with Cummins releasing its first report in 2003 and adopting the Destination Zero strategy for net-zero emissions by 2050, emphasizing multi-path approaches like hydrogen internal combustion engines. In 2025, the company co-founded the Hydrogen Engine Alliance of North America and advanced HELM fuel-agnostic platforms supporting hydrogen, natural gas, and renewables such as hydrotreated vegetable oil. These initiatives positioned Cummins to address decarbonization demands across sectors, though challenges like the 2024 $1.675 billion U.S. settlement over emissions defeat devices in Ram pickups highlighted regulatory risks. [23]Corporate Structure
Business Segments
Cummins Inc. operates five complementary business segments that collectively design, manufacture, distribute, and service engines, power generation systems, components, and related technologies for on-highway, off-highway, and stationary applications. These segments share manufacturing capabilities, distribution networks, and technological platforms to support global markets in transportation, construction, mining, power generation, and emerging electrification. In fiscal year 2024, the segments contributed to total net sales of $34.1 billion, reflecting integrated operations amid varying demand in heavy-duty engine markets and growth in components and zero-emission technologies.[24][25] The Engine Business segment focuses on the development, production, and sale of diesel and natural gas engines ranging from 25 to 750 horsepower, primarily for on-highway uses such as Class 5-8 trucks, medium-duty trucks, and buses, as well as off-highway sectors including construction equipment, agriculture, mining, rail, and marine propulsion. It also provides aftermarket parts and remanufactured engines through integrated service networks. This segment emphasizes fuel-efficient, emissions-compliant engines like the X15 and B6.7 series, which meet EPA and Euro standards, and supports applications in North American and international fleets. In 2024, Engine segment sales reached approximately $10.5 billion, down slightly due to softer heavy-duty truck demand but bolstered by off-highway recovery.[26][27][25] The Components Business segment supplies critical engine and vehicle subsystems, including filtration systems, turbochargers, aftertreatment solutions for emissions control, electronics, and fuel systems. It comprises specialized units such as Cummins Filtration for air, fuel, and lube filters; Cummins Turbo Technologies for variable geometry and wastegate turbos; Cummins Emission Solutions for selective catalytic reduction and diesel particulate filters; and businesses handling onboard electronics and high-pressure fuel injection. These components enhance engine performance, reduce emissions, and enable integration across Cummins engines and third-party applications in automotive, industrial, and power sectors. The segment reported 2024 sales of about $7.2 billion, driven by demand for advanced emission technologies and turbochargers in global OEM partnerships.[28][29][25] The Distribution Business segment manages a global network of company-owned and independent distributors that handle sales, service, parts distribution, and maintenance for Cummins engines, generators, and components. It operates over 5,000 outlets in more than 190 countries, providing warranty support, diagnostics, and remanufacturing services to end-users in trucking, power generation, and industrial markets. This segment focuses on aftermarket revenue, which includes genuine parts and extended warranties, ensuring high uptime for commercial fleets and power systems. Distribution generated roughly $9.8 billion in 2024 sales, benefiting from steady service demand despite original equipment fluctuations.[26][25] The Power Systems Business segment designs and manufactures generator sets, alternators, and integrated power solutions powered by diesel, natural gas, and alternative fuels, with capacities from 10 kW to 3.5 MW for standby, prime, and continuous power applications. Products serve data centers, hospitals, commercial buildings, utilities, and remote sites, often customized with paralleling switchgear and controls for grid-independent operation. It also includes rental power units and marine auxiliary engines. This segment's 2024 sales approximated $5.1 billion, supported by infrastructure investments and natural gas generator growth.[30][25] Accelera by Cummins, launched as a dedicated segment in March 2023, develops and commercializes zero-emission power technologies, including battery electric systems, hydrogen fuel cells, electrolyzers for green hydrogen production, and hybrid powertrains for heavy-duty vehicles and stationary applications. It targets decarbonization in trucking, mining, and power generation, with products like the Accelera Zero by Cummins fuel cell engine and modular battery packs. Backed by investments in U.S. manufacturing facilities, Accelera received $75 million in U.S. Department of Energy funding in July 2024 for zero-emissions production scaling. The segment's early-stage sales contributed modestly to 2024 totals but represent Cummins' pivot toward electrification amid regulatory pressures for net-zero transitions.[31][26][32]Key Subsidiaries and Specialized Units
Cummins maintains a network of subsidiaries and specialized units that support its core operations in engine components, emissions control, power generation, and related technologies. These entities often stem from strategic acquisitions and focus on niche expertise, enabling targeted innovation and market expansion. Key examples include units dedicated to turbocharging, filtration, emissions aftertreatment, and power systems, which contribute significantly to Cummins' components and power generation segments.[33] Cummins Turbo Technologies, formerly known as Holset Engineering, operates as a specialized subsidiary focused on turbocharger design and manufacturing. Acquired by Cummins in 1973, it produces Holset-branded turbochargers for light-, medium-, and heavy-duty diesel applications, emphasizing variable geometry and high-efficiency technologies to enhance fuel economy and performance. The unit marked its 70th anniversary in 2022, highlighting its role in advancing turbocharger innovations for commercial engines worldwide.[34][35] Cummins Emission Solutions serves as a dedicated unit for developing aftertreatment systems, including selective catalytic reduction (SCR) and diesel particulate filters, to comply with global emissions regulations such as Euro VI and EPA standards. Established to address diesel exhaust challenges, it provides integrated solutions for on-highway and off-highway vehicles, with recent expansions including the 2023 acquisition of Faurecia's commercial vehicle exhaust plants in Mexico and Spain to bolster production capacity. This unit supports Cummins' commitment to reducing nitrogen oxides and particulates in engine outputs.[36][37] Cummins Power Generation functions as a specialized business unit for integrated power systems, encompassing diesel and gas generator sets ranging from 15 to 3,750 kVA. It incorporates legacy technologies from acquisitions like Onan Corporation, rebranded under Cummins in 2017 for RV and standby applications, and focuses on reliable backup power for data centers, healthcare, and industrial uses. The unit emphasizes modular designs and efficiency, with products like the QST30 power unit delivering up to 1,001 hp for continuous operation.[30][38] Additional notable subsidiaries include Cummins Filtration (operating under the Fleetguard brand), which specializes in fuel, lube, and air filtration products essential for engine longevity, and Meritor, acquired in 2022 for $3.7 billion to enhance drivetrain and braking systems integration. These units collectively generated substantial revenue within Cummins' components segment, reported at $6.8 billion in 2023, underscoring their operational importance.[33]Global Operations
North American Headquarters and Facilities
Cummins Inc. maintains its global headquarters at 500 Jackson Street, Columbus, Indiana, 47201, United States, in the Cummins Corporate Office Building, which serves as the central hub for executive leadership, strategic planning, and administrative functions.[1][39] The facility, located in the heart of downtown Columbus, supports the company's operations across diesel engines, power generation, and related technologies, with the surrounding area hosting additional research and development centers tied to Cummins' origins in the region.[14] Key manufacturing facilities in the United States include the Jamestown Engine Plant in Jamestown, New York, operational since 1974 and specializing in the production of X12 and X15 heavy-duty engines, with Cummins announcing a $452 million investment in 2023 to expand capacity and capabilities.[40][41] The Rocky Mount Engine Plant in North Carolina focuses on assembling midrange and heavy-duty diesel engines for on-highway applications.[42] In Indiana, the Seymour Industrial Center produces high-horsepower engines such as the K19, V903, and QSK19 models.[43] Overall, Cummins committed over $1 billion in 2023 to enhance its U.S. engine manufacturing network, including sites in Indiana, North Carolina, and New York, to bolster domestic production amid evolving market demands.[41] In Canada, Cummins operates through regional distributors like Cummins Eastern Canada and Cummins Western Canada, primarily handling sales, service, and distribution rather than large-scale manufacturing, with facilities supporting aftermarket parts and maintenance across the country.[44] Mexico hosts significant production capabilities, including the San Luis Potosí plant, which manufactures engines such as the L10 and N14 series, along with remanufactured units, filters, and components, and was expanded in recent years to produce up to 25 engines per hour for global export.[43][3][45] An additional facility in Ciudad Juárez assembles filters and other components, reflecting Cummins' strategy to leverage North American supply chains under trade agreements like the USMCA.[46]Asia-Pacific Expansion
Cummins initiated its Asia-Pacific presence in 1962 through a joint venture with Kirloskar Oil Engines Limited in India, establishing Kirloskar Cummins Ltd. for engine manufacturing, with Cummins holding a 50% stake alongside 25.5% from Kirloskar and the remainder floated on the Bombay Stock Exchange.[47] That same year, Cummins forged an alliance with Komatsu in Japan to support bulldozer production amid post-war reconstruction, marking its entry into East Asia.[3] In China, early engagement began with a 1981 licensing agreement with the China Technical Import Corporation for NH, K, and KV series engines, laying groundwork for subsequent manufacturing.[3] Expansion accelerated in the 1990s with the 1993 formation of Tata Cummins, a 50:50 joint venture with Tata Engineering and Locomotive Company in India, which established the region's first plant to produce Euro-1 compliant engines, including natural gas variants for urban fleets like Delhi's buses.[3] [47] In 1996, Cummins partnered with Dongfeng Motor Corporation to create Dongfeng Cummins Engine Company (DCEC), a 50:50 joint venture in Wuhan, China, initially focusing on mid-range diesel engines such as the ISB, ISC, and ISL series for commercial vehicles.[48] [49] By 1998, Cummins opened Holset turbocharger manufacturing plants in Dewas, India, and Wuxi, China, enhancing local production of components for global supply chains.[3] Further joint ventures solidified manufacturing footprints: in 2007, a 50:50 partnership with Beiqi Foton Motor Company in Beijing produced light-duty diesel engines for trucks, pickups, and SUVs.[3] In India, additional collaborations included the 1995 Tata Holset for turbochargers and the 1998 Valvoline Cummins for lubricants, while Cummins increased its stake in Kirloskar Cummins to 51% in 1997.[47] China's operations grew through entities like the 2011 LiuGong Cummins joint venture in Liuzhou for mid-range engines and the 2021 Sinopec partnership for green hydrogen production.[50] [51] By the 2010s, India saw major investments, including the 2011 Cummins Megasite in Phaltan with three operational plants and a parts distribution center, pushing annual sales beyond $2 billion; a third Tata Cummins facility opened in 2014, followed by the 2018 Cummins Technical Center and Power Systems Plant in Pirangut.[47] In Australia, assembly began in Melbourne under Cummins Diesel Australia in the mid-20th century, evolving into a network of over 35 branches and 150 authorized dealers focused on service and distribution rather than large-scale manufacturing.[52] [53] These initiatives have positioned Asia-Pacific as a core growth region, with Cummins operating over 20 manufacturing sites and numerous joint ventures in China alone by the 2020s, alongside R&D expansions like the 2022 East Asia Research & Development Center in Wuhan.[54] International sales, bolstered by Asia-Pacific contributions, surpassed U.S. figures for the first time in 2005.[3]Other International Presence
Cummins maintains a significant presence in Europe, where it established its first site in 1956 and now operates 17 manufacturing facilities employing over 11,400 people.[55] The company supports operations across Central and Northern Europe, Southern and Eastern Europe, the UK, and Ireland, with key sites including the European Logistics Center in Rumst, Belgium, and Cummins Holland in the Netherlands.[56] In the UK, the Darlington facility, relocated in 2008, handles manufacturing and assembly of aftertreatment systems for various engine applications.[57] Recent expansions in Europe include the Master Rebuild Centre for high-horsepower engines in Krakow, Poland, opened on October 4, 2023, marking the first such facility on the continent to enhance engine remanufacturing efficiency.[58] Additionally, a Pilot Installation Centre opened in Marktheidenfeld, Germany, on December 6, 2023, specializing in vehicle and machinery integration testing.[59] In Latin America, Cummins operates through wholly owned locations and joint ventures, positioning the region as a major market for its power systems and engines.[60] Manufacturing activities include engine production at the San Luis Potosí plant in Mexico, which began supplying global markets in 2022.[45] Cummins' footprint in Africa and the Middle East encompasses distribution and service operations, supported by 11 wholly owned distributors in the combined region.[61] The Cummins Arabia joint venture, formed in 2017 and headquartered in Al Khobar, Saudi Arabia, consolidates distribution across the UAE, Saudi Arabia, and Kuwait, with planned dedicated facilities in Riyadh, Jeddah, and Qassim.[62] In South Africa, the Power Hub facility in Midrand, launched on March 27, 2019, serves as a central hub for power generation equipment sales and service.[63]Products and Technologies
Diesel and Alternative Fuel Engines
Cummins produces a diverse portfolio of diesel engines designed for on-highway, off-highway, marine, and industrial applications, emphasizing reliability, efficiency, and compliance with emissions standards through advanced technologies such as turbocharging and aftertreatment systems including diesel particulate filters and selective catalytic reduction.[64] The company's heavy-duty offerings include the X15 platform, which in its next-generation diesel configuration delivers up to 605 horsepower and 2,050 lb-ft of torque, supporting biodiesel blends up to 20% and renewable diesel up to 100% for reduced carbon intensity.[64] [65] Complementing this, the X10 engine targets medium- to heavy-duty trucks with a focus on fuel efficiency and integrated powertrain performance.[64] For light- to medium-duty segments, the 6.7-liter Turbo Diesel engine powers pickup trucks like the 2025 Ram Heavy Duty models, providing robust torque for towing and hauling while incorporating high-pressure common-rail fuel systems for optimized combustion.[66] Smaller variants, such as the B6.7 and L9 series, serve vocational trucks and buses, with approvals for paraffinic renewable fuels to enable lower-emission operations without hardware modifications.[67] These engines feature core aftertreatment components like diesel oxidation catalysts to minimize NOx and particulate emissions, aligning with regulatory requirements such as EPA standards.[68] In alternative fuels, Cummins extends its diesel architectures to natural gas engines, including the X15N 15-liter model for heavy-duty trucks, which achieves diesel-equivalent power while reducing NOx and particulate matter through spark-ignition technology and compatibility with renewable natural gas.[69] [70] Hydrogen internal combustion engines, developed from proven spark-ignited platforms, offer zero-carbon tailpipe emissions and are advancing via projects like the HELM fuel-agnostic series, which optimizes the X15, X10, and B platforms for diesel, natural gas, or hydrogen based on operational needs.[71] [72] Additionally, Cummins engines support biodiesel up to B100 in select configurations and hydrotreated vegetable oil (HVO) as a drop-in renewable diesel substitute, enhancing lubricity and cetane for performance parity with conventional fuels.[73] [74] These alternatives integrate with Cummins' Destination Zero strategy, prioritizing scalable decarbonization without sacrificing durability.[23]Power Generation and Components
Cummins Inc.'s Power Systems segment designs, manufactures, and sells integrated power generation systems, including diesel and natural gas generator sets for standby, prime, and continuous power needs. These generator sets feature capacities ranging from 15 kVA to 3,750 kVA, supporting applications in commercial buildings, data centers, healthcare facilities, and industrial operations.[75][76] All major components—engines, alternators, and control systems—are produced and tested by Cummins to ensure seamless integration and high reliability.[75] Key components include STAMFORD and AvK alternators, which deliver outputs from 7.5 kVA to 11,200 kVA and are recognized for their wire-wound technology and durability in demanding environments.[77] Control systems, such as PowerCommand, provide advanced monitoring, diagnostics, and paralleling capabilities for multi-unit setups.[30] Switchgear, transfer switches, and enclosure options further enable customized solutions for microgrids and backup power.[78] The Components segment complements power generation by supplying turbochargers, fuel systems, aftertreatment devices, and filtration products that enhance engine efficiency and emissions compliance in generator applications.[28] These aftermarket and OEM parts, including genuine Cummins filtration and turbo technologies, support maintenance and upgrades for extended system performance across global installations.[79] Cummins also provides rental generator fleets for temporary power requirements in construction, events, and emergencies.[80]Electrification Initiatives via Accelera
Accelera, launched by Cummins on March 8, 2023, as the brand encompassing its New Power business segment, focuses on zero-emissions technologies including battery electric and fuel cell electric powertrains for commercial vehicles and industrial applications.[81] The initiative emphasizes integrated ePowertrain systems, which combine electric motors, batteries, eAxles, and controls to deliver high torque and efficiency, targeting sectors such as transit buses, trucks, and off-highway equipment.[82] Accelera's battery systems feature modular packs designed for flexible energy capacities, with patented platforms enabling easier integration into vehicles like electric buses.[83] In battery electrification, Accelera has pursued manufacturing expansions and partnerships to scale production. On July 11, 2024, Accelera received a $75 million U.S. Department of Energy grant to repurpose 360,000 square feet of manufacturing space for zero-emissions components, matched by Cummins' $75 million investment, totaling $150 million for battery pack and module output aimed at job creation and emissions reduction.[32] A June 4, 2024, joint venture with Daimler Truck and PACCAR formed Amplify Cell Technologies to produce lithium-iron-phosphate battery cells for medium- and heavy-duty vehicles, positioning the partners as leaders in commercial zero-emissions transitions.[84] Partnerships include supplying integrated battery electric powertrains to Isuzu for F-Series battery-electric trucks launching in North America in 2027, and powering BMC Otomotiv's electric transit buses with Accelera's battery systems since May 7, 2024.[85][83] On March 27, 2025, Accelera announced a next-generation fully integrated powertrain for 2027 production, incorporating advanced batteries and eAxles.[86] Additionally, on October 2, 2025, it unveiled an ultra-low-floor electric axle for transit buses to enhance accessibility and efficiency.[87] Fuel cell electrification efforts center on hydrogen-based systems, with Accelera's FCE300 engine delivering 300 kW for heavy-duty on- and off-highway uses by converting hydrogen to electricity via proton exchange membrane technology.[88] Supporting infrastructure includes proton exchange membrane electrolyzers for green hydrogen production; on September 3, 2025, Accelera delivered its largest 35 MW system to a New York facility powered by renewable hydroelectricity, aimed at decarbonizing industrial processes.[89] A March 3, 2025, partnership with GAIL advances electrolyzer deployment for hydrogen production in India.[90] However, facing slowing demand, Cummins recorded a $312 million charge in February 2025 for restructuring Accelera's hydrogen operations, reflecting market challenges in scaling fuel cell adoption.[91] On May 20, 2024, Accelera introduced next-generation hydrogen fuel cell and electric solutions for heavy-duty trucks, underscoring integration of components like e-axles with fuel cells.[92] These initiatives position Accelera as a supplier of turnkey zero-emissions propulsion, though commercialization timelines and economic viability depend on regulatory incentives and infrastructure development.[93]Applications and Market Impact
On-Highway and Heavy-Duty Uses
Cummins engines dominate the on-highway heavy-duty sector, powering Class 8 trucks for long-haul freight, regional distribution, and vocational applications such as bulk haulers and chassis cabs. The company's diesel engines, particularly the X-series, are engineered for high torque, durability, and compliance with stringent emissions standards like EPA 2024, enabling operators to maximize payload while minimizing downtime.[94][95] The X15 engine represents Cummins' core offering for heavy-duty on-highway use, with the next-generation model announced on February 29, 2024, specifically targeting North American markets. Available in Efficiency, Performance, and Productivity series, it delivers power outputs from 400 to 605 horsepower and torque ranges of 1,450 to 2,050 lb-ft, governed at speeds up to 1,900 rpm, paired with integrated aftertreatment systems including selective catalytic reduction (SCR) and diesel particulate filters for reduced NOx and particulate emissions.[96][97][98][99] These engines are integrated into vehicles from manufacturers like International and are optimized for automated transmissions, contributing to fuel efficiencies that support fleet operators' cost controls amid volatile diesel prices.[100] Cummins maintains a leading position as the top supplier of Class 8 engines and components, sustaining market strength despite cyclical demand softness in heavy-duty trucking, as evidenced by its performance through 2024 regulatory transitions.[101] The firm has also advanced alternative fuels, with natural gas engines like the ISX12N providing up to 500 horsepower and 1,850 lb-ft torque for heavy-duty on-highway fleets seeking lower greenhouse gas emissions without sacrificing power density.[102] This diversification aligns with pathways to zero emissions, including renewable natural gas compatibility, though diesel variants remain predominant due to established infrastructure and torque advantages in high-mileage operations.[103]Off-Highway, Marine, and Industrial Applications
Cummins off-highway engines power equipment in construction, mining, agriculture, oil and gas, and rail sectors, with models certified to EPA 2024 standards for emissions compliance.[104] The X15 Efficiency Series delivers 400-500 hp and 1450-1850 lb-ft torque, while the X15 Performance and Productivity Series range from 430-605 hp and up to 2050 lb-ft, suited for heavy-duty tasks like excavators and loaders.[104] Additional models include the X12 at 350-500 hp for mid-range applications and the L9 at 260-380 hp for lighter equipment such as tractors and drills.[104] These engines incorporate diesel, natural gas, and alternative fuel technologies to enhance productivity and fuel efficiency in rugged environments.[104] In marine applications, Cummins provides propulsion and auxiliary engines for commercial, government, and recreational vessels, including tugboats, passenger boats, and dredging operations.[105] The QSM11 inline-six diesel engine offers 300-715 hp with a four-stroke design for quiet, fuel-efficient performance in recreational and commercial propulsion.[106] Variable speed propulsion systems address demanding conditions, while diesel-electric packages, with over a decade of global deployments, enable hybrid-like efficiency for ships requiring sustained power.[107] The X Series engines support high-performance, emissions-compliant needs in commercial marine settings.[108] Cummins industrial engines and generators serve power generation, material handling, and backup systems across commercial and industrial sites, with diesel sets ranging from 15 to 3,750 kVA.[75] High-horsepower units above 1,000 kW provide prime or standby power for healthcare facilities, data centers, and water treatment plants, emphasizing rugged reliability and EPA-compliant emissions.[109] Natural gas options complement diesel for applications like air compressors and hydraulic tools, with integrated controls for efficiency in environments such as manufacturing and telecom.[110] Smaller generators under 1,000 kW target scalable backup for businesses, meeting 2017 U.S. EPA standards and Buy America requirements where applicable.[111]Innovations in Concept Vehicles and Efficiency
Cummins has developed concept vehicles to prototype integrated powertrains blending internal combustion, electric, and alternative fuels for heavy-duty applications. In August 2017, the company demonstrated a Class 7 electric concept truck with a 140 kWh lithium-ion battery pack replacing a conventional 12-liter diesel engine, achieving comparable curb weight while enabling zero-tailpipe-emission operation over urban routes.[112] This prototype highlighted modular electric architectures compatible with existing truck chassis, paving the way for battery-electric trials in partnership with Isuzu, where a medium-duty electric truck prototype entered North American testing in 2022.[113] In September 2024, Cummins unveiled an advanced integrated drivetrain concept incorporating engines from its HELM™ (Hydrogen-Enabled, Lean-burn Modular) platforms, supporting both high-efficiency diesel and hydrogen internal combustion configurations alongside front- and rear-electric axles.[114] This system emphasizes fuel-agnostic modularity, allowing operators to switch between diesel, hydrogen, or hybrid setups without major redesigns, with hydrogen variants targeting near-zero emissions through spark-ignited combustion on proven platforms.[115] Such concepts address efficiency in long-haul trucking by optimizing energy density and reducing system complexity compared to pure battery electrics. Efficiency advancements in Cummins engines stem from architectural innovations like the HELM platform, which enhances thermal management and combustion precision. The X15 HELM diesel engine, introduced in July 2024, delivers peak brake thermal efficiency exceeding 46% through integrated automated transmissions and predictive controls, marking it as Cummins' most fuel-efficient heavy-duty diesel.[116] The 2027 X15 iteration further improves on this with up to 4% better fuel economy over the 2024 model via refined piston bowl designs, advanced fuel injection timings, and integrated aftertreatment that minimizes parasitic losses.[117] Supporting technologies include high-pressure common-rail fuel systems operating above 35,000 psi for finer atomization and complete combustion, reducing unburned hydrocarbons and boosting overall efficiency in real-world cycles.[118] Idle-reduction strategies, such as automatic engine shutdown and predictive start-stop, can achieve up to 17% fuel savings in vocational fleets by curtailing non-productive runtime.[119] Over-the-air software updates enable ongoing optimization of parameters like air-fuel ratios, further extending efficiency gains without hardware changes.[98] These developments prioritize internal combustion viability amid electrification, leveraging diesel's superior energy density for applications where battery limitations persist.Financial Performance
Historical Revenue Trends
Cummins Inc.'s revenue has expanded significantly since the early 2000s, propelled by globalization of its engine and power systems businesses, strategic acquisitions, and rising demand in commercial vehicle and industrial sectors. In 2000, annual revenue totaled $6.6 billion.[24] This figure more than doubled over the subsequent decade amid economic recovery post-2008 financial crisis and penetration into Asian and Latin American markets, culminating in $19.1 billion by 2015.[120] The late 2010s featured consistent year-over-year gains, with revenue climbing to around $23.8 billion in 2019 before contracting 17% to $19.8 billion in 2020 due to COVID-19-induced halts in manufacturing and transportation activity.[121] Post-pandemic rebound was pronounced, as revenue jumped 21% to $24.0 billion in 2021 on restored supply chains and infrastructure spending.[121] Further acceleration occurred in 2022 and 2023, with revenues reaching $28.1 billion (17% growth) and $34.1 billion (21% growth), respectively, driven by robust North American heavy-duty truck demand and aftermarket parts sales.[19] In 2024, revenue held steady at $34.1 billion despite electrification transition costs and softer international volumes, marking a record amid segment-specific strengths in engines and distribution.[25]| Fiscal Year | Revenue ($ billions) | Year-over-Year Change |
|---|---|---|
| 2000 | 6.6 | - |
| 2015 | 19.1 | +190% (approx. since 2000) |
| 2020 | 19.8 | -17% |
| 2021 | 24.0 | +21% |
| 2022 | 28.1 | +17% |
| 2023 | 34.1 | +21% |
| 2024 | 34.1 | 0% |
Recent Results and Outlook (2023–2025)
In 2023, Cummins reported full-year revenues of $34.1 billion, a 21% increase from 2022, driven by strong demand in engine and power systems segments despite global supply chain challenges.[122] Net income attributable to Cummins fell sharply to $735 million, or $5.15 per diluted share, representing a 66% decline from 2022, primarily due to a $1.675 billion charge related to settlements over emissions defeat devices in select engines.[123] EBITDA margin was 8.9% of sales, reflecting operational resilience amid the one-time hit.[122] Revenues in 2024 stabilized at $34.1 billion, a marginal 0.1% rise from 2023, with growth in aftermarket and power generation offset by softer on-highway demand.[22] Net income rebounded dramatically to $3.9 billion, or $28.37 per diluted share, a 436% increase year-over-year, as the prior year's extraordinary charges did not recur and cost controls improved profitability.[123] EBITDA reached $6.3 billion, or 18.5% of sales, underscoring enhanced margins from efficiency gains and favorable segment mix.[24] Through the first half of 2025, Cummins generated $17.4 billion in revenues, with Q2 alone at $8.6 billion despite a 2% year-over-year decline linked to reduced truck production and inventory adjustments.[124] Net income for Q2 stood at approximately $890 million, supported by EBITDA of $1.6 billion, though end-market uncertainty in North American heavy-duty trucks pressured volumes.[125] The company has withdrawn its full-year 2025 outlook multiple times, citing economic volatility, potential tariffs on imports, and softening demand in key sectors like construction and mining, with no reinstated guidance for revenue or profitability as of Q2.[126] Analysts project Q3 revenues around $8.0 billion and EPS of $4.75, but broader forecasts remain cautious amid persistent macroeconomic headwinds.[127] Cummins maintained its quarterly dividend at $2.00 per share in October 2025, signaling confidence in cash flow generation despite the tempered outlook.[128]| Year | Revenue ($B) | Net Income ($B) | Key Factors |
|---|---|---|---|
| 2023 | 34.1 | 0.735 | Revenue growth offset by $1.675B emissions charge |
| 2024 | 34.1 | 3.9 | Profit recovery post-charges; stable top-line |
| 2025 (H1) | 17.4 | ~1.8 (est.) | Declines in truck demand; outlook suspended |