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HVAC Industry set for a buoyant growth in the Middle East & Africa; reiterates LG Chief
Green Technology embedded products are gaining fast traction in response to the increased regulations for energy efficient products locally and globally
April 27th, Wednesday [Dubai] April 2016: With rise of trends like smart cities and green buildings in the Middle East and Africa, the Heating, Ventilation and Air Conditioning (HVAC) products and equipment’s market is all set to find high usage across different residential, commercial and industrial applications, reiterates LG Electronics.
The HVAC industry in the Middle East & Africa is witnessing a prominent presence of products dominating different segments of the market and one of the fundamental facets that seem promising for international as well as regional manufacturers, distributors and system integrators is the ongoing development in various residential, commercial industrial, and institutional projects across the MEA region.
Commenting on the trend, Mr Kevin Cha, President, Middle East & Africa, LG Electronics, said, “Companies are investing in R&D and designing new products that have better energy ratings and result in lower emissions and utility bills. With such a proactive approach by industry players including us, the Heating, Ventilation and Air Conditioning (HVAC) industry looks set to experience robust growth in the coming years in response to increasing demand”.
With massive investment plans already underway by big real estate groups and government agencies towards enhancing the infrastructure and promoting new avenues for the tourists, there will be a direct impact on the overall tourism industry across the Middle East & Africa. Also, with the new age shopping centers, hotels, hospitals, apartments, airports, and others, world class air-conditioned environments will be offered to the end-users.
Likewise, in line with the major HVAC regulations prevalent in the MEA region like LEED (Leadership in Energy & Environmental Design) certification, Arab Energy Efficiency Building Regulations, and GCC Standardization Council (GSO), among others, HVAC manufacturers like LG Electronics ensure that the products strictly comply with the latest energy efficiency norms laid down by the respective regulators, government, and other green building policy makers of a particular country in the region.
LG’s HVAC business has grown exponentially over the last 20 years. The success of LG air conditioners has grown to become one of the giants in the highly competitive HVAC industry.
“LG’s air conditioning business is already an integral part of the company’s business and LG has invested in producing a wide range of solutions across both residential and commercial sectors for several decades now. The company recently made large investments for R&D, and constructed a new chiller manufacturing facility set to open in 2017”, added Mr Cha.
LG’s air conditioners are designed with high style and innovative technology to be the perfect solution for hot summer months. LG’s flagship product Multi V VRF system has gained top of the mind position among key stakeholders like developers, consultants and contractors because of high energy efficiency, quick technical response and after sales service. Third party market surveys have confirmed LG’s products to be leaders in the region.
In the residential space, LG’s latest Titan Split air conditioners offer exceptionally cool environment, even during the humid summer months thanks to its tropical compressor, which holds performance verification by TUV Rheinland. LG’s latest Titan air conditioners can withstand extreme conditions such as high temperature degrees up to 60ºC.
With the rapid technological developments within the HVAC industry, the HVAC products are embedding features making them more and more energy efficient and eco-friendly, in line with government and consumer demands. Green Technology embedded products are gaining fast traction in response to the increased regulations for energy efficient products locally and globally.
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 83,000 people working in 119 locations around the world. With 2014 global sales of USD 55.91 billion (KRW 59.04 trillion), LG comprises four business units ― Home Entertainment, Mobile Communications, Home Appliance & Air Solution, and Vehicle Components ― and is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. LG Electronics is a 2014 ENERGY STAR Partner of the Year. For more news and information on LG Electronics, please visit www.LGnewsroom.com.
About LG Electronics Middle East & Africa Regional Headquarters
LG Electronics Middle East & Africa (MEA) is the regional headquarters for LG Electronics based in Dubai responsible for the vast area from Western Sahara to Pakistan and from Turkey to South Africa. The MEA headquarters oversees operations in 23 countries comprised of 12 subsidiaries, 11 branch offices and 3 manufacturing facilities, covering sales across 35 countries. Employing more than 2,000 local workers, LG’s MEA headquarters is the hub for strategic governance of the company’s business in the region and provides support to country offices in the areas of marketing, human resources, training and procurement, among others. For more information about LG Electronics, please visit www.LGnewsroom.com.
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Regional PR Manager
LG Electronics Middle East & Africa