Doosan Bobcat has opened its new backhoe loader plant in India, marking its entrance into one of the world’s three largest compact construction equipment markets.
The plant has a site area of 80,000m², a factory floor area of 15,000m² and is capable of producing 8,000 machines a year.
Doosan Bobcat has entered the backhoe loader market in a bid to expand its emerging market portfolio with the aim of exploring mid- and long-term growth engines.
India’s compact equipment market is the third largest in the world after the US and China, with an estimated worth of KRW 1.3 trillion (US$1.1 billion), where the backhoe loader sales account for more than 80%.
Since 2014, the Indian backhoe loader market has grown at an average annual rate of 9.7%.
The facilities were idle, meaning the company did not have to establish a new plant. The first batch of backhoe loaders will be released in the second half of 2019.
Doosan Bobcat President and CEO, Scott Park, said: “With government-led infrastructure investment increasing in recent years, the compact market is growing rapidly in India, making it a highly attractive market. Our mid and long-term goal, beginning with backhoe loaders, is to lead the Indian small construction machinery market.”