India to Remain Key Growth Market for LG’s Air Conditioning Business
- brg_news_room
- 2 days ago
- 1 min read
India: LG Electronics has stated that India is expected to remain its largest residential air conditioning market globally by sales volume, supported by growing demand and relatively low air conditioner penetration. According to the company, India is among its top three HVAC markets worldwide, alongside the United States and Brazil. LG also noted that the country offers further growth opportunities in the commercial air conditioning segment, which contributed to its decision to establish a third manufacturing facility in India to support future expansion and local production.
The company said residential air conditioner penetration in India has increased from around 7% to 12% over the past decade, indicating continued market potential. LG also highlighted rising cost pressures across the industry due to higher prices for components such as compressors and heat exchangers, as well as increased costs of raw materials including copper, aluminium and petrochemical-based products. In addition, the company outlined its long-term vision for connected homes, centred on autonomous home robots, artificial intelligence-based orchestration and integrated appliances designed to automate household tasks.
Source: Business Standard
