On July 6, HD Hyundai Electric announced a revised order target, reflecting an increase of $963 million, or 22.8%, from its previous goal.
Earlier this year, the company had already raised its order targets twice in April and July due to expanding global demand for power infrastructure. The latest adjustment reflects expectations for increased orders in key product categories, including power transformers, distribution equipment, and rotating machinery.
Specifically, orders for power transformers are rising rapidly, fueled by increased investment in North American power infrastructure and growing demand for 765kV ultra-high voltage transformers. Proactive orders are also being placed ahead of the planned expansion of the North American production facility, set to be completed in April next year.
Demand for distribution equipment is robust, driven by the expansion of North American data centers, which has led to a steady increase in the need for distribution transformers. Additionally, the shortage of gas turbines has resulted in heightened demand for land-based generators for data centers.
HD Hyundai Electric plans to continue strengthening its order competitiveness based on the growth of global power infrastructure investment and the North American data center market.
A company representative stated, "We have adjusted our 2026 order target to reflect the expected increase in orders for key product categories such as ultra-high voltage power transformers, distribution transformers, and rotating machinery. We will maintain a selective order strategy focused on profitability while ensuring stable growth."
Meanwhile, demand for power infrastructure in data centers is rapidly expanding, particularly in North America. The International Energy Agency (IEA) projects that global power consumption by data centers will more than double, increasing from 415 terawatt-hours (TWh) in 2024 to 945 TWh by 2030.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.