Doosan Infracore Participates in Construction Equipment Trade Show in South America while Accelerating Market Presence on the Continent
Doosan Infracore is set to participate in a construction equipment trade show in South America while accelerating its marketing efforts for the continent.
On October 1, 2019, Doosan Infracore announced that it would be taking part in Latin CONEXPO 2019, a construction equipment trade show held in Santiago, Chile from October 2-5, 2019.
At the upcoming trade show, Doosan Infracore will introduce its flagship equipment for the continent, including medium-size excavators and wheel loaders, along with Doosan Bobcat’s compact loaders and mini excavators. The company expects to further increase recognition of its construction equipment brand and to find potential new customers in Latin American markets through the trade show.
The South American construction equipment market reached 13,000 units per year after growing at an annual average rate of 19% over the last three years (2016-2018). During the same period, Doosan Infracore has been increasing its market share by more than 2 percentage points every year in major countries in the continent, such as Chile, Colombia, Peru and Ecuador (except Brazil) and now its market share surpasses the 11% mark in those countries at present. It is the first time in five years that the company has ever achieved a double-digit market share in this market.
In Colombia, the company expects to record its best sales record ever in 2019 by selling 20 medium-size 22-ton excavators to an oil and gas pipeline contractor in June, among other orders. Its market share in Colombia has jumped from 10% in 2018 to over 15% as of September 2019. In Guyana and Surinam, Doosan Infracore enjoys dominant market shares of 70% and 40%, respectively.
In Chile, the second biggest construction equipment market in South America, Doosan Infracore is continuing to expand its market position through the sales of forestry equipment. Earlier this year, the company secured a large buyer in the country by signing a supply contract for 21 pieces of special-purpose forestry equipment with Besalco, a big business in the mining and forestry sectors.
Recently, Doosan Infracore further enhanced its product lineup by continuously launching new products tailored to the demand of the South American market, including 80-ton super-large excavators and 34-ton class medium-size excavators and wheel loaders. At the same time, the company has concentrated on enhancing its dealers’ sales competencies in Latin America. In Mexico, the company achieved a 9% market share - roughly twice as big as its market share - in 2017, primarily through dealership restructuring. In 2018, the company opened a service training center in Bogota, Colombia, which has contributed to heightening the service competitiveness of its South American dealers.
An official of Doosan Infracore said, “We’re accelerating our efforts to expand our market shares in South America, with our Chilean subsidiary playing a significant role.” He continued, “We will keep up the momentum by raising recognition of our brands and products at the trade show, while continuing to launch products customized for the South American market and providing top-notch customer services to our customers there.