HD Hyundai Infracore's Sales in Middle East and Africa Reach 430 Billion KRW Last Year... Accelerating Market Penetration

Targeting the Market with New Brand 'Dibellon'
Middle East and Africa Markets Expected to Grow at an Annual Rate of 4% Until 2028

HD Hyundai Infracore is actively targeting the Middle East and Africa markets through its new brand 'Dibellon'.

HD Hyundai Infracore announced on the 11th that it recorded sales of $330 million (approximately 430 billion KRW) in the Middle East and Africa region last year, representing about 116% growth compared to $105 million in 2020, two years earlier.

The number of equipment units sold surpassed 2,400, increasing sales volume by more than 60% compared to 2020 figures. This was the result of focusing sales efforts on securing large customers by introducing new products equipped with advanced features and customized customer services.

The construction equipment market in the Middle East and Africa has shown rapid growth, with total sales increasing from 16,720 units in 2020 to 32,786 units in 2022, a rise of about 96% over three years. According to global market research firm Research and Markets, the Middle East and Africa construction equipment market is currently valued at $4.26 billion and is expected to grow at an annual rate of 4%, reaching approximately $6.4 billion (about 8.5 trillion KRW) by 2028.

HD Hyundai Infracore's Devlon wheel loader to be exported to Angola.
[Photo by HD Hyundai Infracore]

HD Hyundai Infracore has established a branch office in Dubai, United Arab Emirates, and has been dedicating efforts to strengthening its position in the Middle East market. In particular, in Saudi Arabia, it has been winning large-scale construction project contracts ahead of global competitors, competing for the top positions in the market. Following the sale of over 1,000 units last year, the company aims to sell 1,200 units this year. The Neom City project in Saudi Arabia, with a business scale exceeding $500 billion, is the world's largest construction project, and HD Hyundai Infracore anticipates that demand for construction machinery will further increase in the future.

In Africa, the company recently established a new branch in Accra, the capital of Ghana, focusing sales efforts on expanding sales channels and securing large customers in the growing construction machinery markets of West and Central Africa. As a result, in the Republic of Angola, HD Hyundai Infracore signed a contract to deliver a total of 29 construction machines, including 20 excavators and 9 wheel loaders. This order is the largest since HD Hyundai Infracore began operations in Angola, and considering that the annual construction machinery market in Angola is about 370 units, it represents a significant contract accounting for approximately 8% of the entire Angolan market. The equipment will be supplied to Angola's largest construction company and will be used for dam construction for hydroelectric power generation.

Last month, coinciding with the launch of the new brand Dibellon, HD Hyundai Infracore also recently held the '2023 Middle East and Africa Dealer Conference' in Cairo, Egypt, to discuss sales strategies. This dealer conference was the first regional meeting since the launch of Dibellon, attended by about 90 people including HD Hyundai Infracore CEO Oh Seung-hyun, key stakeholders, and 26 dealers from the Middle East and Africa.

Oh Seung-hyun, CEO of HD Hyundai Infracore, said, "The Middle East and Africa market has shown unprecedented results over the past five years," adding, "We will maximize our sales efforts to leap into the global top 5 by 2025 through the launch of the new brand and strengthening various next-generation technologies and product lineups."

This content was produced with the assistance of AI translation services.