Hyundai, the future Top 5 global player

At 2017 Conex Korea held in Kintex in South Korea, Hyundai Construction Equipment (HCE) has announced its intention to enter into the top 5 ranking by 2023 in the global construction equipment market.

During this exhibition, HCE has unveiled the ‘Vision 2023’ which aims to raise the company at the top 5 global player by improving product qualities and expanding its footing into new overseas market. At the same time, the company has showcased its new innovative products HW145 excavator and 30D-9H forklift upgraded operability and durability, devoted specifically targeting domestic market. The company is aiming to take the leadership in its home market by expanding the product range of mini excavators that have already generated an annual average growth rate of 13% for the past 5 years and expanding its mobile control system.

For the first quarter of this year, the company believes that the growth of 91% in domestic sales is due to the efforts to launch metropolitan-level retail stores and the secondhand product distribution support centers. HCE has also seen its global sales on the back of customized products in emerging markets and a recovery in global construction equipment market rising by 30%.

With this ambitious objective, HCE continues to actively upgrade quality, performance and services of their products to top-tier level, which will enable HCE to emerge to a world-class construction equipment maker.