South Korean Firms Intensify Competition in Heat Pump Market
- brg_news_room
- 2 hours ago
- 1 min read
South Korea: South Korea’s heat pump market is witnessing increased competition as major appliance manufacturers and boiler producers expand their presence in the sector. Heat pumps, which use electricity to provide heating and hot water, are gaining attention as countries pursue energy transition and decarbonisation goals. The South Korean government has also outlined plans to deploy 3.5 million heat pumps by 2035, targeting a reduction of 5.18 million tonnes of greenhouse gas emissions.
In South Korea, Samsung Electronics, LG Electronics and Kyungdong Navien are expanding their heat pump activities as the technology moves beyond commercial applications into the residential sector. Industry participants indicate that competition is expected to depend not only on product performance but also on installation expertise, service networks and maintenance capabilities. Companies are also targeting international markets, with Kyungdong Navien operating in the United States and the United Kingdom, while Samsung Electronics and LG Electronics continue to expand their heat pump offerings across Europe through residential and commercial projects.
Source: Chosun Biz
