BUSINESS

South Korea’s wheeled excavators see high demand in China

By Kim Da-sol
  • Published : Jan 14, 2019 - 15:34
  • Updated : Jan 14, 2019 - 15:34
South Korean heavy construction equipment makers such as Doosan Infracore and Hyundai Construction Equipment saw their sales of wheeled excavators rebound in China last year, following the recovery of the country’s construction market. 

According to China Construction Machinery Association data, Doosan Infracore sold 15,630 excavators last year, while Hyundai Construction Equipment sold 7,234. 

Doosan Infracore

Each of the firms recorded their highest number of sales in eight years.
Last year, the overall excavator market in China saw record-high total sales of 184,190 units.

After reaching a peak in 2010 when Doosan sold 22,093 excavators and Hyundai sold 15,247 excavators, South Korean companies have suffered from a sluggish Chinese construction market amid the global economic crisis until 2015. In 2015, the companies sold 3,526 and 1,889 excavators, respectively.

Amid the recovering market situation, Doosan Infracore signed a deal worth 250 billion won ($222 million) last week to supply 1,200 units of upper frames of excavators to China’s Zhengzhou Yutong Group over the next five years. 

Industry insiders said as China sees rapid growth of its construction market, Korean companies will continue to see high demand and increased sales opportunities. 

With the Chinese government’s expanded market intervention policies and strengthened environment friendly measures, industry insiders have viewed that Chinese construction companies’ need for purchasing new construction equipment will continue to rise.

By Kim Da-sol (ddd@heraldcorp.com)


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