Major domestic corporations and mid-sized home appliance makers have begun a head-on battle in the heat pump market, a technology seen as key in the era of energy transition.
Competition to lead the next-generation heating market is heating up as Samsung Electronics and LG Electronics, which are expanding their existing heating, ventilation and air conditioning (HVAC) businesses, and even boiler powerhouse Kyungdong Navien concentrate their capabilities.
On the 2nd, according to global market research firm MarketsandMarkets, the global heat pump market is expected to grow from $83.2 billion in 2025 to $162.6 billion (about 220 trillion won) in 2030.
Heat pumps use electricity to supply heating and hot water and are drawing attention as next-generation eco-friendly heating technology.
In Europe, the market is growing rapidly as carbon neutrality policies align with a push to strengthen energy security. In Europe, about 3.25 million units were sold from 2023 through last year, and 2.65 million units were distributed in China over the same period. The Korean government also presented a blueprint to distribute 3.5 million heat pumps by 2035 with the goal of reducing greenhouse gases by 5.18 million tons.
Heat pumps are being evaluated as an inflection point that changes the landscape of the existing heating industry, beyond simply entering a new business. In particular, for Kyungdong Navien, which grew with gas boilers as its main business, strategic responses are unavoidable to protect leadership in the future heating market.
Vice Chairman Son Heung-rak of Kyungdong Navien, the eldest son of Chairman Son Yeon-ho who leads new businesses, was said to be aggressively pushing the heat pump business, naming HVAC expansion as the next growth engine.
Samsung Electronics and LG Electronics, considered traditional powerhouses in home appliances, also have designated heat pumps as a new growth driver.
Samsung Electronics highlighted as a strength the ability to check and set indoor temperature and water outlet temperature via application (app) connectivity, while LG Electronics cited as an advantage a structure that integrates the outdoor unit and key system components.
Having built repair and maintenance service infrastructure for home appliances over many years, Samsung Electronics and LG Electronics plan to use their nationwide service networks to reduce maintenance and after-sales burdens after heat pump installation.
The industry does not see any particular corporation as having overwhelming technological superiority. It means that corporations with capabilities in manufacturing boilers or air conditioners would not find it difficult to enter the heat pump market. As a result, analysts say future competition will hinge not only on product performance but also on installation capabilities, service networks, and the ability to build maintenance systems.
The arena of competition is not expected to be limited to Korea. Kyungdong Navien has entered the U.S. and U.K. heat pump markets. It cites not only domestic corporations but also local European corporations such as Viessmann and Vaillant as competitors.
Samsung Electronics is set to supply heat pumps and a management system to a large-scale residential complex development led by Polish energy corporation Ekopark, and LG Electronics moved to penetrate the European market by unveiling new heat pump products at Mostra Convegno Expo 2026 in Milan, Italy, in Mar.
An industry official said, "A heat pump is not a home appliance you simply use by plugging in power, but equipment that requires comprehensive design of the entire building's heating and hot water system," adding, "Because the optimal design method varies by building structure, climate conditions, and usage patterns, how many diverse installation cases and operating experiences you secure will be a key factor that determines future competitiveness."