South Korea’s top construction equipment maker Doosan Infracore Co. said Monday that the number of its construction equipment sold here rose 18 percent last year from a year ago on increased demand.
“Despite the coronavirus pandemic, demand for high-end excavators increased last year here on the back of enhanced safety regulations and increased use of excavators in construction sites,” a company official said over the phone on condition of anonymity.
Doosan Infracore said it sold over a total of 4,000 units of construction equipment, including excavators and wheel loaders, last year in the local market, the highest annual sales in 10 years since 2011.
In South Korea, three makers — Doosan Infracore, Hyundai Construction Equipment Co. and Volvo Construction Equipment — are vying to expand their presence.
Last Monday, the company said it sold 18,686 excavators in China in 2020, up 20 percent from 15,270 units in 2019, its highest annual sales since 2011, when it sold about 16,700 units, on the back of increased infrastructure projects in the world’s No. 2 economy.
Doosan Infracore sold 21,800 excavators in 2010 in China, marking its largest annual sales since 2005, when the company made inroads into the Chinese market.
Doosan Infracore is on course to be owned by global shipbuilding giant Hyundai Heavy Industries Holdings Co. (HHIH), which has the No. 2 local construction equipment manufacturer Hyundai Construction Equipment under its wing.
In December, HHIH signed an initial deal to buy Doosan Infracore from its cash-strapped parent, Doosan Heavy Industries & Construction Co.
Doosan Infracore also said it has launched 13 kinds of excavators for this year in the local market.