Heat Pump Water Heater to Launch in North America in the First Half of the Year
Mandatory Use of Heat Pump Technology in Electric Water Heaters
Expected to Continue the Success of the Condensing Water Heater
Kyungdong Navien is set to accelerate its efforts to expand in the North American market this year. To this end, it will launch a strategic new product in the first half of the year. The 'heat pump water heater' is regarded as the product that will follow the success of the 'condensing water heater,' which played the most important role in Kyungdong Navien's pioneering of the U.S. market.
Kyungdong Navien announced on the 17th that it plans to launch the 'heat pump water heater' in North America in the first half of the year. This is the first new product to be introduced to the North American market this year. A heat pump is an eco-friendly technology that uses electricity to absorb heat from air, ground, or water and utilizes it for heating and cooling. This water heater not only boasts excellent energy efficiency but also enhances installation convenience and durability through Kyungdong Navien's technological expertise. Pipes can be connected both at the top and sides, and the intake and exhaust parts, which are located on the side, have been moved to the top of the product, allowing for easy installation in various environments, including narrow spaces. A stainless steel tank is applied to resist corrosion and ensure excellent hygiene. Prior to launch, attention was paid not only to performance but also to user-friendly design. The control panel was installed in the optimal position by precisely analyzing the average height and viewing angle of users, and buttons and displays were arranged considering readability and operability.
In particular, the heat pump water heater is evaluated as potentially becoming the 'second condensing water heater' in Kyungdong Navien's North American market strategy. In 2008, Kyungdong Navien introduced the 'condensing instantaneous water heater' to North America, where tank-type water heaters predominated, changing the market paradigm to eco-friendliness. At that time, the condensing water heater market size was about 20,000 units annually, but it has now grown to approximately 800,000 units. Kyungdong Navien accounts for about half of this market. Based on this, Kyungdong Navien's North American market sales reached 774.9 billion KRW last year, accounting for about 57% of total sales.
The expectation that the heat pump water heater will play a 'key role' comparable to the condensing water heater is supported by the U.S. environmental policies and regulations. The U.S. Department of Energy announced water heater efficiency standards last year to reduce household water bills, energy waste, and harmful carbon emissions. According to these standards, conventional electric water heaters must improve efficiency by using heat pump technology, and these standards will become mandatory starting in 2029. A Kyungdong Navien official said, "Heat pump technology is gaining global attention as an eco-friendly heating and cooling technology," adding, "Once it becomes mandatory in the U.S., new and replacement demand is expected to continue increasing every year."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
