LG Electronics is expanding its heating, ventilation, and air conditioning (HVAC) business by securing significant contracts in the European heat pump market.
The company announced that it has signed a contract to supply its high-efficiency, large-capacity heat pump, the LG Multi V i, to a residential complex with over 1,000 units in the Calle Fuerzas Armadas area near Madrid, Spain.
Additionally, LG will provide the Multi V i and Multi V s heat pumps for the Kings Circle and The One projects in Belgrade, Serbia, contributing to the establishment of HVAC systems for over 500 residential units.
Industry experts attribute this success not only to the product's competitiveness but also to LG's engineering capabilities, which encompass design, certification, and installation. By offering customized solutions that reflect customer requirements from the project's early stages, LG has gained a competitive edge over global HVAC companies.
The Multi V i features a high-efficiency inverter compressor and an AI-based control system, enhancing energy efficiency. It uses R32 refrigerant, which has a global warming potential (GWP) approximately 30% lower than the existing R410A refrigerant, aligning with Europe’s stringent environmental regulations.
Notably, the unit incorporates a compact and lightweight one-port shut-off valve unit that detects and stops refrigerant leaks, optimizing space utilization. This design consideration, tailored for the relatively small living spaces typical in Europe, has contributed to its competitive advantage.
In the Serbian projects, LG has implemented an integrated solution that provides both heating and hot water supply with a single outdoor unit. This approach reduces construction costs and installation space while enhancing operational efficiency.
LG is also focusing on expanding its eco-friendly product lineup, including the Thermavie R290 monoblock heat pump, which uses R290 refrigerant with a GWP of just 0.02. Recently, the company secured contracts for new housing complexes in Eindhoven and Leiderdorp in the Netherlands, and it has installed heat pumps in over 100,000 homes across five southern European countries, including France and Spain.
The European heat pump market continues to grow, driven by carbon neutrality policies. The European Union is promoting low-carbon heating transitions for new buildings and reducing reliance on fossil fuels through its REPowerEU initiative, leading to increased demand. According to the European Heat Pump Association (EHPA), sales of heat pumps in 16 major European countries reached 2.63 million units last year, an 11% increase from the previous year. Market research firm MMR Statistics projects that the European heat pump market will reach $46 billion by 2032.
Lee Jae-sung, president of LG Electronics' Energy Solutions Division, stated, "European residential heat pump customers consider not only product efficiency but also eco-friendliness and ease of installation. We will strengthen our market presence in Europe with differentiated competitiveness based on our diverse HVAC solution portfolio and engineering capabilities."
* This article has been translated by AI.
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