As the demand for power stabilization equipment surges in the U.S. due to the expansion of AI data centers and renewable energy, Hyosung Heavy Industries' STATCOM (Static Synchronous Compensator) is gaining significant attention.
According to industry sources on September 22, Hyosung's STATCOM has seen a substantial increase in orders in the U.S. market, recognized for its effective control capabilities for large-scale power. The STATCOM adjusts voltage according to the power system's conditions, enhancing the stability and efficiency of the power grid.
This success in the U.S. market is influenced by the management philosophy of Hyosung Chairman Cho Hyun-joon, who has long emphasized 'technological prowess.' He has stated, "We aim to be a game changer that creates new markets rather than just following trends based on overwhelming technology," highlighting Hyosung's 'technological DNA.'
With large-scale AI data centers, often referred to as 'power-hungry behemoths,' being established across the U.S., the load on the power system is rapidly increasing. Consequently, local transmission companies are expanding their transmission networks, leading to a growing demand for Hyosung's STATCOM, which can reliably control the increased large-scale power.
Recently, Hyosung Heavy Industries secured an order for the world's largest 1Gvar (gigavolt-ampere reactive) MMC STATCOM, demonstrating its capabilities in large-scale power control technology. The MMC STATCOM controls high voltage by combining multiple power modules, allowing for more precise and stable power conversion.
Since successfully developing the STATCOM in 2006, Hyosung has expanded its business in this sector. In 2018, it installed the then-largest 400Mvar (megavolt-ampere reactive) STATCOM and is currently supplying equipment to major domestic locations. The company is also expanding its presence in global markets, supplying STATCOMs to key countries in the U.S., Europe, and the Middle East.
According to market research firm Fortune Business Insights, the global STATCOM market is expected to grow from $670 million in 2024 to $1.09 billion by 2032, with an average annual growth rate of 6.3%. As the capacity increases, the technical challenges also rise, classifying it as a high-value business with significant entry barriers.
Hyosung Heavy Industries is also expanding its business in the voltage-source HVDC (high-voltage direct current) sector, which shares core MMC technology with STATCOM. After installing a 200MW voltage-source HVDC at the Yangju substation, the company is investing a total of 330 billion won to build a dedicated HVDC transformer factory by 2027. Hyosung plans to secure technology up to 2GW in capacity to enhance its competitiveness in the global power grid market.
* This article has been translated by AI.
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