According to an industry report, Doosan Infracore has ranked 6th in the world in construction machinery sales when it consolidated sales of $5.89 billion up to this month.
The report states that the South Korean company’s sales figures increased at significant levels, taking the company up two notches from 8th place in 2015. Going with this achievement is an increase of its market share, which rose by 0.2 percentage points to 3.8%, marking the highest in the company’s history. This achievement by Doosan Infracore is attributed to the rebound of China’s excavator market, growth of its subsidiary Doosan Bobcat, and its good fight in emerging markets.
Specifically, Doosan Bobcat’s sales have increased at an annual growth rate of 3.3% in five years. In China, the excavator sales of the company reached 4,649 units in 2015, increasing its market share to 7.4%. And, sales have continued to increase in the early months of this year. In fact, sales figures are reported to be three times more compared to the same period last year. This is driven by a recovery in demand by major industries, such as mining and infrastructure.
Doosan Infracore’s construction machinery sales in emerging markets turned to growth as sales volume rebounded during the second half of 2016. The company raised its coverage in such markets from 82% to 93% in a five-year period from 2012 to 2016 by expanding its sales networks.