HD Construction Equipment, Manitou team up to expand compact equipment sales
Summary
HD Construction Equipment teamed up with France’s Manitou Group on Monday in Ancenis, France, to expand compact construction equipment sales. Under the partnership, HD Construction Equipment will source compact equipment from Manitou and sell it globally under Hyundai and Develon brands, while Manitou will market HD Construction Equipment’s compact equipment under Manitou and Gehl brands. The company said the deal is meant to widen its compact lineup, boost production scale and improve quality and price competitiveness. HD Construction Equipment also set a goal of 1.3 trillion won in compact equipment revenue by 2030.
Key Facts
- HD Construction Equipment and Manitou Group signed a mutual sales partnership at Manitou Group’s headquarters in Ancenis, France.
- HD Construction Equipment President Moon Jae-young and Manitou Group President and CEO Sylvain Blaise attended the signing.
- HD Construction Equipment said compact equipment accounted for about 400,000 units of roughly 1.2 million construction machines sold globally in 2025.
- MarketsandMarkets forecasts the global compact construction equipment market will grow at an average annual rate of 5.1 percent, from $39.6 billion in 2025 to $56.2 billion in 2032.
- Manitou Group said the agreement fits its strategic plan to accelerate growth in compact equipment and expand product portfolios for dealers and customers worldwide.
Moon Jae-young, president of HD Construction Equipment, right, and Sylvain Blaise, president and CEO of Manitou Group, mark their newly signed compact construction equipment sales partnership during a ceremony at Manitou Group headquarters in Ancenis, France, Monday (local time). Courtesy of HD Construction Equipment
HD Construction Equipment is teaming up with France’s Manitou Group to expand its reach in compact construction equipment, signing a mutual sales partnership Monday (local time) at Manitou Group’s headquarters in Ancenis, France, with HD Construction Equipment President Moon Jae-young and Manitou Group President and CEO Sylvain Blaise attending.
Under the agreement, HD Construction Equipment will source compact equipment from Manitou Group and sell it globally under its Hyundai and Develon brands.
Manitou Group will add HD Construction Equipment’s compact equipment to its portfolio and market the products under its Manitou and Gehl brands.
Manitou Group supplies construction, agricultural and industrial equipment, including telehandlers, forklifts, skid steer loaders and aerial work platforms, through operations spanning 140 countries.
For HD Construction Equipment, the agreement is intended to broaden its compact equipment lineup while increasing production scale and improving product quality and price competitiveness.
The company has set a goal of generating 1.3 trillion won ($884 million) in compact equipment revenue by 2030.
Compact equipment accounted for about 400,000 units of roughly 1.2 million construction machines sold globally in 2025, according to Off-Highway Research.
MarketsandMarkets forecasts that the global compact construction equipment market will grow at an average annual rate of 5.1 percent, from $39.6 billion in 2025 to $56.2 billion in 2032.
Moon said the partnership would combine the strengths of both companies and strengthen the competitiveness of compact equipment while raising the global profile of Hyundai and Develon.
Blaise said the agreement was part of Manitou Group’s strategic plan to accelerate growth in compact equipment and would combine the companies’ manufacturing capabilities and innovation to expand their product portfolios and provide greater value to dealers and customers worldwide.
This article was published with the assistance of generative AI and edited by The Korea Times.
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