The strategic acquisition will further strengthen LG’s comprehensive heating, ventilation and air conditioning (HVAC) portfolio – a key growth driver for its B2B business – and accelerate the company’s ambition to become a leading player in the HVAC industry.
Founded in 1932, OSO offers a comprehensive range of water heating solutions, including electric water heaters, stainless steel thermal storage systems for heat pumps and boilers, and other advanced water heating technologies.
A recognised market leader, OSO has established a strong presence in the US$15 billion European heating and domestic hot water market.
Driving growth through integrated HVAC and water heating solutions. Europe is seeing rapid growth in demand for air-to-water heat pump (AWHP) systems – technologies that provide heating, cooling and hot water by extracting heat from the ambient air.
This growth is driven by the region’s climate policies and energy security concerns. According to BRG Building Solutions, the European heat pump market is expected to double by 2030, with annual sales rising from approximately 1.2 million in 2024 to 2.4 million at the start of the next decade.
