Doosan Infracore announced on Tuesday that the company’s number of excavators produced in China surpassed 200,000 units. It is a record reached in 26 years since the company first entered the Chinese market in October 1994.
Doosan Infracore whose plants are located in Yantai in China reached the 5,000 mark for the accumulated production of excavators in 2001. The Chinese market was dominated by Japanese construction machinery producers at the time, but the South Korean company grew to secure the largest market share as a foreign company in the country’s construction machinery sector since the 2000s by engaging in aggressive marketing tactics and launching new products. The company’s annual production of excavators surpassed 10,000 units in the mid-2000s and 20,000 units in 2010.
The accumulated production record of 200,000 units is the first among foreign construction machinery producers in China. Doosan Infracore has 22.8 percent of market share in the Chinese excavator market, excluding domestic companies, as of the third quarter this year. The South Korean company is competing against American company Caterpillar Inc. for the No. 1 spot in the sector.
Doosan Infracore sold over 15,000 units of construction machinery last year in China. Despite the market slowdown due to COVID-19, the company has sold 14,348 units for the first three quarters of this year, which is comparable to its sales last year. Doosan Infracore will continue to launch new products and specialty equipment in line with the growth trend of the Chinese excavator market.