HD Construction Equipment's Australia sales up 56% this year

A contestant of Operator Challenge, hosted by HD Construction Equipment at CONEXPO in Las Vegas from March 3 to 7, controls the company's HX19E electric mini excavator to move a ball to a designated hole. Courtesy of HD Construction Equipment

HD Construction Equipment is enjoying solid sales in Australia.

The construction equipment developer subsidiary of HD Hyundai Group said Friday its sales in Australia in January to February increased 56 percent from the previous year.

Last year the company sold 439 construction equipment in the country. With rising demands and more invested marketing efforts by the firm, the figure is anticipated to reach 1,000 this year.

The company’s main focus is small-size equipment. The products account for half of the company’s sales across its global markets. It said it will boost the product group for the Australian market by further diversifying mini excavator lineup and introducing a compact track loader and bulldozer.

Australia is one of HD Construction Equipment’s key global markets, generating demands of approximately 25,000 construction equipment per year on average. State-run infrastructure construction projects involving roads, railways and energy development as well as earth mineral excavation for ironstone and lithium keep fueling demands for construction equipment.

Citing market analyst Mordor Intelligence, the Korean firm said the Australian market currently has a market value of $3.6 billion (5.4 trillion won) and, thanks to the market’s annual growth rate of 4.5 percent or higher, will reach $4.5 billion by 2031.

HD Construction Equipment said a financial support package by the state-run Export-Import Bank of Korea has also sharpened its edge for expanding global markets.

“We’re accelerating our penetration of the Australian market by leveraging sales networks and product competitiveness of both the Hyundai and Develon brands,” an HD Construction Equipment official said.

Develon is a signature brand of HD Hyundai Infracore, which in last January merged with HD Hyundai Construction Equipment to become HD Construction Equipment.

“We will continue to strengthen the presence of K-construction machinery in global markets through cooperation with the Export-Import Bank of Korea and our local partners," the official added.

Earlier this year, HD Construction Equipment secured multiple supply deals in its global markets. Ethiopia will import 120 equipment from the company followed by 71 by Vietnam, 60 by Mongolia and 41 by Kyrgyzstan.