Doosan Infracore's Market Share in the Middle East Rises to 13.4%, Doubling its Share for 2018
- Doosan Infracore signs major contracts in the region, including one with ARAMCO for 20 wheel loaders at the beginning of the year
2019. 7. 19
Doosan Infracore has greatly expanded its share of the construction equipment market in the Middle East by concluding a series of large-scale contracts with various countries in the region including Saudi Arabia.
On 14 July 2019, Doosan Infracore posted a 13.4% share in the construction equipment market of the Middle East during the first half of 2019 (cumulative market shares as of the end of May), more than doubling the company’s market share for the region compared with the previous year.
At the beginning of the year Doosan Infracore signed a contract with Arabian machinery, an official partner of Saudi Arabia's state-owned oil company Aramco, to supply twenty wheel loaders. The company has since executed major contracts with other Saudi construction companies to supply more than seventy 19-52 ton excavators, among other items of equipment.
Recently, Doosan Infracore signed a contract to supply thirteen large wheel loaders to Oman, where demand for large construction equipment was hitherto relatively insignificant. In total, the company sold more than 460 units of construction equipment in the first half of the year in the Middle East, bolstering its sales in the region by 66% compared with the same period in the previous year.
Doosan Infracore has also striven to secure sales opportunities in countries other than the GCC countries* in the Middle East. Notably, the company has executed construction equipment supply contracts with the government and the private sector in Iraq, which has launched a number of national reconstruction projects recently.
A Doosan Infracore official said, "This achievement, largely attributable to the robust sales force were have put in place, is all the more meaningful given the serious political and economic risks entailed by any involvement in the Middle East,” adding, “"We will concentrate on the GCC countries with new products tailored to the region while further strengthening our sales networks for the neighboring countries in order to continue expanding our market presence in the region.”
*GCC (Gulf Cooperation Council): a regional intergovernmental union designed to enhance cooperation among six oil producing Arab countries including Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Oman, and Bahrain.