Doosan Bobcat among top 10 equipment manufacturers

[Courtesy of Doosan Bobcat Inc.]

Doosan Bobcat Inc. was named among the world‘s top 10 construction equipment manufacturers for the first time.

Doosan Bobcat ranked 10th with a market share of 3.1 percent, according to the 2023 list of construction equipment manufacturers released Wednesday by KHL Group, a U.K. media company that focuses on the construction industry. This ranking is one step higher than that of the previous year and the market share increased by 0.2 percentage points. Doosan Bobcat is the first Korean company to be ranked among the top 10 global construction equipment manufacturers.

Before the Doosan Group sold Doosan Infracore, now known as HD Hyundai Infracore Co., the combined market share of Doosan Bobcat and Doosan Infracore ranked 6th in the world. But Doosan Bobcat’s individual market share dropped to 14t after the sale of Doosan Infracore in 2021, rising to 11th in 2022 and hitting 10th in 2023.

Strong demand from the 2023 boom in the North American construction equipment market appears to have worked in the company’s favor., with North America accounting for more than 70 percent of Doosan Bobcat‘s total sales. It also announced its plan to acquire Mottrol Co., a company specializing in hydraulic parts for heavy equipment.