Kyungdong Navien has launched a new residential air-source heat pump, the PEM750, in the UK, marking a strategic move to expand its presence in the European heating equipment market. Following its efforts in North America, the company is intensifying its marketing in Europe with the goal of becoming a global HVAC leader.
On April 21, Kyungdong Navien officially introduced the PEM750 in the UK. The product is expected to roll out in other European countries, including Russia, in the near future. The company has been operating in Europe since establishing local subsidiaries in the UK and Russia in 2014.
The PEM750 features R290, an eco-friendly refrigerant with a Global Warming Potential (GWP) of just 3-significantly lower than the GWP 700 range of conventional R32 refrigerants. Equipped with inverter technology, the PEM750 delivers high energy efficiency while minimizing environmental impact. The product also incorporates noise reduction technology to lessen disturbances for nearby residents.
This UK launch comes as Kyungdong Navien seeks growth opportunities overseas amid stagnation in the domestic HVAC market caused by a sluggish construction industry, high interest rates, and rising material costs. With a relatively low penetration of residential HVAC systems, the European market is seen as a promising arena for future demand.
According to Research and Markets, a Dublin-based market research firm, the European HVAC market is projected to grow steadily due to climate change awareness and accelerating decarbonization trends. The market is expected to reach $92.48 billion by 2029, up from $64.43 billion in 2023, representing a compound annual growth rate (CAGR) of 6.2%.
Kyungdong Navien is ramping up its expansion in North America and Europe by highlighting its proprietary eco-friendly technologies. On April 17, the company held an HVAC roadshow in San Fernando, near Los Angeles, and plans another on April 24 in Chino Hills, California. Featured products include the NWP500 heat pump water heater, the NAZ heat pump, and the NPF condensing hydro furnace, which boasts an Annual Fuel Utilization Efficiency (AFUE) of 87%, promoting energy savings.
“We aim to offer forward-looking heating solutions to European consumers through the PEM750,” the company stated. “We will emphasize the product’s ability to reduce both carbon emissions and heating costs, along with its quiet operation, as we focus on capturing the residential heating market.”
