SEOUL, Aug. 5 (Korea Bizwire) — Construction equipment maker Doosan Bobcat Co. said Wednesday that it has mass-produced small-sized excavators in China to expand its presence in the Chinese market.
Doosan Bobcat has produced 1- and 2-ton excavators at its plant in the Chinese southeastern city of Suzhou to immediately response to market demand instead of bringing excavators into the country from its Czech plant, the company said.
The local production of excavators in China will help increase its market share to the 10 percent range within three years from the current 5 percent, Doosan Bobcat said.
Doosan Bobcat plans to expand the sales of excavators produced in China to emerging markets, like Southeastern Asian countries and Oceania, it said.
Sales of under 3-ton excavators in China reach 7,000 units annually, growing approximately 80 percent on average annually between 2016 and 2019, Doosan Bobcat said.
In addition, Doosan Bobcat started selling small-sized loaders in 2017 and producing them in China last year, it said.