HD Hyundai Electric raises 2026 order target by 22.8% to $5.18b

HD Hyundai Electric revised its 2026 order target upward by 22.8% to $5.18 billion, from the previous target of $4.22 billion, the company announced Monday.

The revision reflects an improved outlook for orders across key product lines, including power transformers, distribution equipment and rotating machinery. Power transformer orders are rising rapidly, driven by growing investment in North American power infrastructure and surging demand for 765-kilovolt ultra-high-voltage transformers. The company is also securing advance orders ahead of the scheduled April completion of a second factory at its North American production subsidiary.

Demand for distribution equipment is climbing on the back of data center expansion in North America, while the rotating machinery segment is benefiting from increased demand for land-based generators for data centers.

HD Hyundai Electric said it plans to continue strengthening its order competitiveness, supported by growing global power infrastructure investment and the expansion of the North American data center market. On Thursday, the company signed a power infrastructure supply contract worth 1 trillion won ($649 million) with a global big-tech firm for a North American data center.

"We raised our 2026 order target to reflect an improved outlook for orders across key product lines, including ultra-high-voltage power transformers, distribution transformers and rotating machinery," a company official said. "We will maintain our profitability-focused, selective order strategy while sustaining stable growth."