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According to industry sources, on the 27th, Hyundai Construction Equipment, a subsidiary of Hyundai Heavy Industries Group, managed to secure large orders in emerging markets such as Russia.
Accordingly, the recovery in construction equipment demand in emerging markets, which was reduced in the wake of the crown spread, is expected to start in earnest, and the business outlook for next year will also improve.
Hyundai Construction Equipment recently announced that it has received orders from customers in Russia and Saudi Arabia for 415 units, including 130 excavators, wheel loaders and backhoes, for a total of $ 40 million (44.4 billion won).
The equipment ordered from Russia this time was 345 units, including 80 large excavators, wheel loaders and backhoes, for a total of $ 35 million (387 billion 62.5 million won), accounting for 40% of the sales. Equipment sales that Hyundai Construction Equipment received in Russia last year. It is on scale.
This equipment is scheduled to be supplied to Gazprom of Russia, the world’s largest gas producer, in the first half of next year.
It also obtained orders for 70 excavators worth $ 5.8 million from a customer in Saudi Arabia. This equipment will be used for the construction of a gas pipeline in Medina, western Saudi Arabia, in the first half of next year.
A Hyundai Construction Equipment official said: “In emerging markets such as Russia and the Middle East, demand fell sharply since the second quarter of this year (April to June) due to the spread of the crown, but has recovered in earnest since the third quarter (July to September). He predicted that if the uncertainty generated by the problem is resolved and the efforts of each country are added to boost the economy, demand will increase more than before the coronavirus.
Doosan Infracore, the number one in the industry, managed to secure orders for construction machinery for large customers in the Middle East.
Doosan Infracore recently signed an order contract for ten 50-ton excavators (DX520LCA), beating a leading global construction equipment company in a tender for large-scale excavators by a Saudi Arabian construction company.
Customers are very satisfied with the Doosan Infracore equipment, which is why they are placing various Doosan construction equipment on large-scale construction projects in Riyadh, Saudi Arabia.
Earlier this year, 10 Doosan articulated haulers (ADTs) were purchased and a total of 50 Doosan equipment is in operation, including this new purchase, such as a 70-ton excavator, a wheel loader and an ADT.
This year, the construction equipment market in the Middle East has stagnated due to the aftermath of the coronavirus.
In the Chinese market, a total of 47 construction machinery sets were sold on the 21st through online sales. In the past three quarters alone, the Chinese market achieved sales of 308.9 billion won, up 55% from the same period last year.
During the same period, advanced markets including Europe also achieved sales of KRW 17.5 billion, up 16.3% and continued growth.
Lee Dong-heon, a researcher at Daishin Securities, said: “The Chinese construction equipment market is expected to continue to grow next year. In the case of India, the resumption of investment in infrastructure has entered a recovery trend. “Emerging markets are also showing signs of recovery in Asia, Russia and Latin America.”
