Boiler battle heats up as Vaillant rolls out fancy, efficient line
The entrance of the world’s largest gas boilermaker by market share could bring about a sea change in a domestic market dominated by local manufacturers like Kiturami and KD Navien.
Vaillant Group Korea said on Thursday that it is targeting premium consumers with its high-end ecoTEC plus series product line.
Carsten Voigtlander, the company’s CEO, said that Vaillant is aiming to claim a market share of 10 percent.
“Vaillant has over 10 percent market share in every county it operates,” the CEO said during a press event at Vaillant Group’s offices in Gangnam District.
The CEO also expressed optimism about the manufacturer’s future in Korea.
“Korea’s market size is estimated to be 1.2 million [gas boiler] units per year and it is the third biggest market worldwide after U.K. and China.
“Yet the premium market has yet to take shape in Korea, which led us to enter Korea.”
The German maker is targeting premium consumers with its energy-efficient, condenser-style ecoTEC plus models.
Vaillant says that the models are more energy efficient than conventional gas boilers and meet the top energy-efficiency standards because they utilize heat from the gases normally lost up the flue.
By taking up the thermal energy contained in the flue gas, condensing boilers are much more efficient and reduce heating costs and emissions, according to the company.
Taking the helm at the Korean office is Peter Son, Vaillant’s country director.
“Korea is a promising market with a lot of potential,” Sohn said. “I will try my best to develop it into a major boiler company in Korea.”
Vaillant Group is a family-owned business operating its offices in over 20 countries and exporting its products to 75 countries.
It produces a total 1.7 million of gas boilers worldwide, generating around 3.1 trillion won ($2.6 billion) in sales.
Established in 1874, Vaillant Group is a leading manufacture in heating and cooling equipment. The company has a wide variety of products ranging from heating and acclimatization renewable systems, ventilation systems and solar energy panel collectors.
Despite the wide range of products, the company’s major selling point remains similar: environmentally friendly and energy-saving options.
The headquarters of Vaillant Group is located in Remscheid, Germany.
BY PARK EUN-JEE [firstname.lastname@example.org]