HD Construction Equipment Partners with France’s Manitou on Compact Equipment, Targets KRW 1.3 Trillion in Sales by 2030

[Financial News] HD Construction Equipment is partnering with France’s Manitou Group to sell compact construction equipment. The company aims to accelerate its push into the global compact equipment market by expanding its product lineup and achieve KRW 1.3 trillion in related sales by 2030.
HD Construction Equipment announced on the 22nd that it had signed a contract for a "mutual sales partnership for compact construction equipment" at Manitou Group’s headquarters in Ancenis, France, on the 21st (local time).
Manitou Group is a global full-line equipment company that supplies telehandlers, forklifts, skid-steer loaders and aerial work platforms for the construction, agricultural and industrial sectors in 140 countries through its Manitou and Gehl brands.
Under the agreement, HD Construction Equipment will receive compact construction equipment from Manitou Group and sell it in global markets under the Hyundai and Develon brands. Manitou Group will also add HD Construction Equipment’s compact equipment to its own lineup, expanding its portfolio.
Through the partnership, HD Construction Equipment plans to strengthen its compact construction equipment lineup, which has relatively high growth potential. It also aims to improve cost and quality competitiveness by expanding production scale. The company has set a target of KRW 1.3 trillion in compact construction equipment sales by 2030.
The global compact construction equipment market is also expected to maintain steady growth. According to market research firm MarketsandMarkets, the global market is projected to grow at an average annual rate of 5.1%, from approximately $39.6 billion (about KRW 54 trillion) in 2025 to $56.2 billion (about KRW 77 trillion) in 2032. Urbanization and increased infrastructure investment by countries around the world are cited as key drivers of rising demand.
Jae-young Moon, president of HD Construction Equipment, said, "By combining the strengths of both companies, we will enhance the competitiveness of our compact construction equipment products and further strengthen the global market presence of the Hyundai and Develon brands."
Sylvain Blaise, president of Manitou Group, stated, "This partnership is part of a strategic roadmap to accelerate the growth of our compact equipment product lineup," adding, "By combining the manufacturing capabilities and innovation of both companies, we will strengthen our product portfolio and deliver greater value to dealers and customers worldwide."
[email protected] Jung Won-il Reporter