Seoul: HD Construction Equipment Co. announced on Monday that it has secured a significant contract to supply 264 power-generating engines to Grupel, a prominent Portuguese generator manufacturer. The agreement highlights the company's growing footprint in the European market, particularly amid rising demand for mobile power generators and the need for replacements due to stricter emissions regulations.
According to Yonhap News Agency, the deal focuses on the supply of small-sized G2 engines, aligning with the increasing European demand for efficient and environmentally friendly power solutions. Although the contract's duration remains undisclosed, HD Construction Equipment expressed its ambitions to expand further in Europe by promoting its larger DX05 and DX08 engines.
A company spokesperson emphasized the importance of the contract, stating, "The latest order demonstrates the G2 engine's competitiveness in Europe, where emissions standards are becoming more stringent. We will continue to expand our customer base in the generator market and beyond." The company is targeting global power-generating engine sales of 770 billion won (US$520 million), aiming to more than double its 2025 sales projection of 370 billion won.
Market research firm Mordor Intelligence projects that the European diesel generator market will grow at a compound annual rate of 4.18 percent, reaching 7 trillion won by 2031, up from 5.7 trillion won in 2026. This growth underscores the potential opportunities for HD Construction Equipment to further penetrate the European market.