LG targets strengthening the HVAC market by 2030 with efficient chillers

LG Electronics is expanding its B2B HVAC business, focusing on chillers for big buildings and commercial applications. The company aims to double its HVAC product sales by 2030, targeting a 6 percent annual growth in the global chiller market until 2027.

LG Electronics’ B2B heating, ventilation, and air conditioning (HVAC) business is expanding rapidly, fueled by high sales of the company’s chillers built for big buildings and commercial applications. Leveraging LG’s distinctive core technologies, these solutions have achieved an outstanding rise in average annual sales of over 40 percent over the last three years.

LG has been offering chillers, which are cooling systems that give cool air to indoor spaces by circulating cold water through a heat exchanger, since 2011. LG currently offers a comprehensive range of HVAC solutions, including home and commercial air conditioners, central air conditioning chillers, chillers for nuclear power plants and building management systems (BMS).

LG is leveraging the HVAC industry as a growth engine to boost global sales of its chillers. The company targets both new and established facilities, such as nuclear power plants. LG recently secured a contract to supply chillers for a North American battery plant. The global chiller market is expected to grow by 6 percent annually until 2027. LG aims to double its HVAC product sales by 2030, positioning itself as a top provider of residential and commercial HVAC solutions. Commercial chillers are expected to contribute significantly to this expansion.

LG chillers, equipped with an array of innovative technologies, offer not only great performance and energy efficiency but are also cost-effective in terms of maintenance. By integrating advanced heat pump technology and employing high-efficiency compressors and heat exchangers, LG’s advanced chillers provide reduced energy consumption and operational expenses compared to conventional chiller products.^*

The LG Inverter Scroll Chiller, a well-known LG chiller, is a high-efficiency heat pump system that distributes water as well as heating and cooling to commercial buildings. It uses R32 refrigerant, which has a global warming potential (GWP) of only one-third to one-quarter that of R410 refrigerant. LG chillers are designed for easy maintenance, with a variety of easily replaceable components and quick access to speed the inspection process.

Already well-established in Asia, LG’s chiller business is expanding internationally, increasing its presence in the Middle East, Europe and Central and South America in response to rising demand. The company has an advantage in the HVAC industry thanks to its sophisticated core technologies, which include key components such as compressors and motors. Additionally, LG is proactively investing in research and development, with a focus on essential HVAC technologies including heat exchangers, inverters and heat pumps.

“We are committed to delivering efficient cooling systems that leverage our proprietary HVAC technologies to present exceptional performance and value to our global customers,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “LG will continue to expand its presence in the global HVAC market with differentiated solutions including chillers, aligned with the latest trends in electrification and decarbonisation.”