MUNICH, Oct. 19, 2022 /PRNewswire/ -- Hyundai Construction Equipment and Hyundai Doosan Infracore, subsidiaries of Hyundai Genuine, the intermediate holding company in the construction machinery sector of Hyundai Heavy Industries Group, will participate in BAUMA 2022, the world's largest construction machinery trade fair.
HCE 14T Hydrogen Excavator to be exhibited at 2022 BAUMA
Hyundai Construction Equipment and Hyundai Doosan Infracore will be participating in the BAUMA trade fair to be held in Munich, Germany from the Oct 24 to 30, to showcase the companies' latest equipment and technologies, including smart construction solutions, hydrogen fuel cell power packs and electric battery packs, hydrogen and electric excavators, wheel loaders, dump trucks and more.
The two companies will take full advantage of BAUMA to promote their eco-friendly, smart construction equipment and technologies, and seek recognition for their competitive mini and small compact machines.
This is in line with the global construction equipment market trend, where demand for eco-friendly and compact products has been steadily increasing in developed markets such as North America and Europe recently. According to Off-Highway Research, a global construction equipment research institute, the demand for compact machines in the European construction equipment market is expected to grow continuously, with the market share of compact equipment forecasted to increase from 45% in 2021 to 53% by 2025. The European market in particular has shown a high level of interest and demand for eco-friendly equipment as the region's emission standards on carbon neutrality is extremely high.
In accordance with such trends, Hyundai Construction Equipment plans to showcase its 14-ton hydrogen excavator developed for the first time in Korea in 2020, hydrogen fuel cell power pack, and 1.8-ton mini electric excavator. The HYUNDAI CONNECT zone will also be installed to help visitors better understand unmanned automation technologies.
In addition, Hyundai Doosan Infracore will exhibit a 1.7-ton mini electric excavator and a hybrid engine equipped excavator, both scheduled for release in 2023. Demonstration events for Concept X, an unmanned automation solution, and XiteCloud, a smart construction solution, will also take place on the side.
Moreover, Hyundai Doosan Infracore's engine division will present its electric battery packs for the first time at BAUMA, as a part of the company's strategy to expand its business, currently focused on internal combustion engines, to one that is more complex, and inclusive of electrification solutions. Through such efforts, the company plans to make headway in the European market where the hype for eco-friendly equipment is high.
The two companies' mini excavator strategic models will also be on display for visitors, including Hyundai Construction Equipment's HX mini excavator series, a Reddot Design Award 2022 winner which has received many favorable reviews, and Hyundai Doosan Infracore's 2 to 5-ton mini excavators.
"The BAUMA trade show is a great opportunity to get an overall view of the global construction machinery market trends," said Sohn Dong-youn, Vice Chairman and CEO of Hyundai Genuine, adding, "we will closely examine our strengths and weaknesses against global top-tier companies, and aim to take lead in a new market."
Meanwhile, Germany's BAUMA exhibition is one of the world's three largest construction machinery trade fairs, alongside Conexpo held in the US, and INTERMAT in France. This year marks its 33rd edition and is expected to attract more than 600,000 visitors from all over the world.
About Hyundai Genuine
Hyundai Genuine is the intermediate holding company in the construction equipment sector of Hyundai Heavy Industries Group, one of South Korea's largest conglomerates engaged in shipbuilding, heavy equipment, and energy business.
Founded in 2021 and headquartered in South Korea, Hyundai Genuine aims to create synergy between its subsidiaries, Hyundai Construction Equipment (HCE) and Hyundai Doosan Infracore (HDI), major machine manufacturing companies with a leading position in construction equipment, engines, attachments, utility equipment and more. While each subsidiary operates independently, Hyundai Genuine seeks to maximize the synergy between the two in R&D, purchasing, sales and international business.
Alongside providing optimized solutions that propel synergy between HCE and HDI, Hyundai Genuine also targets to shape and solidify its own industrial vehicle and hydraulic component business by achieving ten trillion won in sales by 2025, becoming a global top five company in the field of construction machinery, and realizing its vision to create a blueprint for the future of the construction equipment industry in Korea.
To learn more, visit: www.hyundai-genuine.com
Media Contact
Billie Lee (billie.lee@hyundai-genuine.com)
HDI 1.7T Electric Excavator to be exhibited at 2022 BAUMA
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