The lab will manage the European Consortium for Advanced Heat Pump Research and recruit local talent for the growing HVAC market. LG estimates the European HVAC market at $13 billion in 2024, with 5 percent annual growth expected over the next three years.
Europe's carbon-neutral energy policies have increased demand for efficient electric products, particularly heat pump systems that reduce carbon emissions. LG's competitive advantage lies in its core tech, including self-developed compressors and motors.
The company is implementing a localized end-to-end system for R&D, sales, and maintenance across 43 countries. This includes HVAC academies in 62 locations worldwide, training over 30,000 engineers annually.
Lee Jae-sung, head of LG's air solution business, said the company will target the global HVAC market with solutions addressing decarbonization, electrification and region-specific climate needs.
