LG Electronics Targets 60% Growth in U.S. B2B Home Appliance Market
USA: LG Electronics is set to expand its presence in the U.S. B2B home appliance market, projecting over 60% growth this year following a 64% increase in the U.S. builder market last year. With the builder market accounting for approximately 20% of the U.S. consumer electronics sector, the company aims to challenge long-established players like GE and Whirlpool. LG Electronics has strengthened its foothold by establishing 'LG Pro Builder' in 2023, offering customized space solutions with a diverse product portfolio, including refrigerators, washing machines, ovens, and air conditioning systems. The company is implementing a top-down strategy, introducing premium products first, including the rebranded ultra-premium built-in appliance line, 'SKS' (Signature Kitchen Suite), which was showcased at the 'DCW 2025' design and architecture fair in Las Vegas.
A key focus of LG Electronics' expansion strategy is energy efficiency, particularly with heat pump dryers, which currently dominate the European market with over 90% adoption. The company plans to introduce these energy-saving alternatives in the U.S., gradually replacing traditional exhaust-type dryers. Additionally, LG Electronics is prepared to navigate potential trade challenges, including tariff policies, through a flexible production strategy. The company has contingency plans to shift production across multiple global sites, including Korea, the U.S., Vietnam, Thailand, and Indonesia, ensuring a competitive edge in response to regulatory changes.
Source: Maeil Business Newspaper