LG Electronics has shared its long-term strategy to become a major global player in the HVAC market by 2030. At a recent press conference in South Korea, the company outlined plans to grow its industrial and commercial B2B business, especially in data center cooling, while also offering region-specific heating and cooling solutions. It will also rely on its 3B strategy to boost its capabilities through internal development, partnerships, and acquisitions.
With demand rising, LG aims to triple orders for its cooling solutions by 2025. It has even built a dedicated lab in South Korea to test its technologies in simulated AI environments and is already running pilot projects with LG U+, a telecom provider.
LG is also expanding in the commercial HVAC space by working on major infrastructure projects in countries like Singapore and Saudi Arabia. It aims to double its non-hardware revenue like building energy control platforms and AI tools from 10% to 20%.
In India LG is building a new product development unit and a factory in Sri City, expected to start producing 1.5 million AC units annually by 2026.
Leave a comment