LG & Siemens sign global partnership
LG and Siemens are entering a global partnership to develop commercial air control solutions and systems. The world wide partnership is aimed at increasing sales of commercial air conditioning products and building management systems for both companies and to increase their respective market shares.
Graham Hendra, UK General Manager of air conditioning, for LG commented: “This will enable LG to further develop the existing commercial air conditioning products and systems alongside air control solutions. It will raise the product and service competitiveness in what we offer to the building developer, owner, consultant, architect and main contractor.”
The global market is rapidly changing, almost on a daily basis and has had two major players – both in commercial air conditioners and control solutions. There is an ever-increasing need to take into account the energy efficiency, environmental concerns and legislative direction of Europe and North America and this has led to the development of integrated technology of heat pump management and energy-efficient control solutions.
The global market for commercial air conditioning systems is expected to increase from $32.4B US last year to $36.3B US this year and the relative control solutions market is expected to expand from $17.0B US to $19.0b US.
LG foresees its partnership with Siemens resulting in a diverse client base from both the commercial air conditioning and total solutions markets.