A rendering of the large “Flexy Living” residential complex in Spain, where LG Electronics’ high-efficiency heat pump “LG Multi Vi” is being installed. LG Electronics
LG Electronics (066570.KS) is accelerating its push into Europe’s heating and cooling market with high-efficiency heat pumps. The company is ramping up sales in local markets by supplying customized heating and cooling solutions to 1,500 units across large residential complexes in Spain and Serbia.
LG Electronics said Wednesday it recently won an order to supply heating and cooling solutions for a residential complex of about 1,000 units in the Calle Fuerzas Armadas area near Madrid, Spain, where it is installing the “LG Multi V i,” a high-efficiency, large-capacity heat pump.
The Multi V i reduces energy consumption by applying a high-efficiency inverter compressor and an artificial intelligence (AI)-based smart control system. It uses R32 refrigerant, whose global warming potential (GWP) is about 30% of that of conventional R410A refrigerant, to meet Europe’s stringent environmental standards.
A rendering of the “King’s Circle” residential complex in Serbia, where LG Electronics’ high-efficiency heat pump “LG Multi Vs” has been supplied. LG Electronics
LG Electronics participated in the design, certification and installation processes from the early stages of the project, reflecting local customer requirements. In particular, it designed a “1-port shut-off valve unit” that detects and blocks refrigerant leaks to be smaller and lighter than those of competitors, improving space utilization and installation convenience. The customized design, which took into account the relatively small residential spaces of the European market, is cited as a factor in securing an edge in the order competition.
Supply expansion is also continuing in Serbia. LG Electronics is supplying heat pump solutions for about 500 units, centered on the Multi V i and Multi V S, at the residential complexes “Kings Circle” and “The One” in the capital Belgrade. In this project, a single outdoor unit provides heating, cooling and hot water functions, and the system was simplified to enable air conditioning and hot water supply without a separate heat recovery unit. The company said this reduced construction costs and improved installation efficiency.
LG Electronics is also promoting high-efficiency, eco-friendly product lines such as the air-source heat pump “Therma V R290 Monobloc.” This product uses R290 refrigerant, which has a global warming potential of just 0.02. The company has also won consecutive orders for high-efficiency heat pumps in new residential complexes in Eindhoven and Ridderkerk in the Netherlands, and has completed the installation of more than 100,000 heat pumps across five Southern European countries, including France and Spain.
The European heat pump market continues to grow on the back of policies electrifying building heating and the European Union’s “REPowerEU” policy. According to the European Heat Pump Association, heat pump sales in 16 major European countries in 2025 rose more than 11% from a year earlier to 2.63 million units. Market research firm MMR Statistics forecast that the European heat pump market will expand to about $46 billion (approximately 69.7 trillion won) by 2032.
Lee Jae-sung, president and head of LG Electronics’ ES Business Division, said, “European residential heat pump customers consider not only product efficiency but also eco-friendliness and installation convenience.” He added, “Based on our diverse portfolio of heating and cooling solutions and our engineering capabilities, we will strengthen our push into the European market.”
LG Electronics’ lineup of high-efficiency heat pumps. (From left) Multi Vi, Therma V R290 Monobloc, and Multi Vs. LG Electronics