HD Hyundai Construction Equipment (267270) has signed a cross-selling partnership with French equipment maker Manitou Group to expand in the global compact construction equipment market. Under the agreement, HD Hyundai Construction Equipment will source Manitou Group’s compact machines and sell them under the Hyundai and DEVELON brands, while Manitou Group will add HD Hyundai’s compact equipment to its Manitou and Gehl product lines. The companies signed the agreement at Manitou Group’s headquarters in Ancenis, France, on the 21st local time, with President Moon Jae-young and President Sylvain Blaise attending. HD Hyundai aims to make compact equipment a growth engine, increasing production scale to improve quality and price competitiveness and targeting 1.3 trillion won in segment revenue by 2030. The new source values that target at approximately $954.7 million, compared with the previously cited figure of about $940 million. MarketsandMarkets expects the global market to grow from approximately $39.6 billion last year to $56.2 billion by 2032, at a 5.1% compound annual growth rate, driven by urbanization and infrastructure investment.