HD Hyundai Infracore has secured a major order for large excavators in Ethiopia, aiming to meet the growing demand for construction machinery in Africa’s resource-rich markets, such as cobalt and lithium.
The company announced on March 25 that it had signed a supply agreement with two Ethiopian mining companies for 100 large excavators. These 36-ton crawler models were among the 212 units sold in Ethiopia in 2024. The new units are expected to be delivered by June 2025.
HD Hyundai Infracore is focusing on expanding its presence in emerging markets, with Ethiopia positioned as a key strategic hub in Africa. The country is rapidly developing its mineral industry, tapping into resources like cobalt and lithium. Additionally, Ethiopia is advancing major infrastructure projects, including the construction of Africa’s largest airport near the capital, Addis Ababa, which is expected to increase demand for construction machinery.
Sales of excavators and large wheel loaders in Africa are rising, with 13,500 units sold in 2023 and a 34.8% year-on-year increase to 18,200 units in 2024. Competition among South Korean, Japanese, and Chinese manufacturers is intensifying. HD Hyundai Infracore, which markets its construction machinery under the “Develon” brand, maintained a dominant position in Ethiopia with a 57% market share in 2024.
A company spokesperson said, “Ethiopia is a critical market, accounting for more than a third of our sales in Africa. We plan to expand into neighboring countries and strengthen our brand presence across the continent.”
