Taihan Cable & Solution’s U.S. orders top $32 million

Taihan Cable & Solution is off to a strong start in the U.S. market this year.

Taihan Cable & Solution said on the 26th that its cumulative U.S. orders had topped $32 million as of the fourth week of January. Orders have continued to come in since the start of the year, reaching more than 10% of the $300 million in full-year orders it won in 2022, its strongest performance since entering the U.S. market. With demand for U.S. power infrastructure growing sharply, the company expects to secure a record volume of orders this year.

Orders are spread across major cities in both the eastern and western United States, including New York, California and Arizona. The company has won orders across a range of products, including extra-high-voltage (EHV) transmission cables, medium- and low-voltage (MV/LV) distribution cables, and overhead lines.

The United States is pursuing large-scale investment across power generation, transmission and distribution as policies to expand renewable energy coincide with the need to replace aging power grids. The country has secured $15 billion (about 20 trillion won) through the Inflation Reduction Act (IRA) and the Infrastructure Investment and Jobs Act (IIJA) to expand the grid and modernize aging infrastructure.

Taihan Cable & Solution is expanding orders based on a portfolio spanning extra-high-voltage, medium- and low-voltage, and overhead-line businesses, where it has demonstrated a competitive edge in the United States. Starting this year, it also plans to actively pursue market expansion and orders for strategic products, including submarine cables and HVDC cables, which are beginning mass production.

Since making its first entry into the U.S. market in 2001 by establishing a New York sales subsidiary, Taihan Cable & Solution has expanded its presence, opening a western branch in Los Angeles in 2013 and an eastern branch in New Jersey in 2017. The company is now actively considering acquiring a local cable factory or subsidiary in the United States to strengthen its competitiveness in securing orders.