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SEOUL, April 20 (Yonhap) -- HD Construction Equipment Co. said Monday it has signed a contract to supply 264 power-generating engines to Portuguese generator manufacturer Grupel.
The deal covers small-sized G2 engines and comes amid growing demand for mobile power generators in Europe, as well as replacement demand for aging equipment under tightening emissions regulations, the company said in a press release.
The company did not disclose the contract's timeframe.
HD Construction Equipment, an affiliate of shipbuilding-to-machinery conglomerate HD Hyundai Co., said it aims to secure additional contracts in Europe for its larger DX05 and DX08 engines.
"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," a company official said.
The company aims to reach 770 billion won (US$520 million) in global power-generating engine sales, more than double its 2025 sales of 370 billion won.
The European diesel generator market is forecast to grow at a compound annual rate of 4.18 percent to 7 trillion won by 2031, from 5.7 trillion won in 2026, according to market research firm Mordor Intelligence.
This undated file photo, provided by HD Construction Equipment Co., shows the G2 engine, which complies with Europe's Stage V emissions standards. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
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