LG Electronics (Thailand) Co Ltd projects the Thai electrical appliance market to reach 87 billion baht this year, a 5% increase from 82.8 billion baht in 2024.
The market consists of washing machines, TVs, refrigerators and air conditioners.
Amnaj Singhachan, marketing head at LG Electronics (Thailand), said growth in the air conditioner market would be fuelled by activity in the tourism and real estate sectors, including both new developments and renovations.
Mr Amnaj said LG Thailand is implementing a new organisational structure aligned with "Future Vision 2030", strengthening its four key business divisions.
These comprise home appliances (washing machines and refrigerators), media entertainment (TVs and monitors), eco solutions (specialised heating, ventilation and air conditioning [HVAC] systems), and vehicle solutions.
Moreover, the company continues to distribute products through modern trade and traditional trade channels, with a current network of more than 900 authorised dealers nationwide.
This year, LG aims to increase its business-to-business (B2B) segment from 11% to 15% of its portfolio. The growth is expected to be driven by information displays and HVAC for the commercial segment.
He said the revival of the country's tourism sector is expected to further advance B2B growth.
Meanwhile, the company will strengthen its direct-to-consumer market through the LG.com online platform and aims to expand the online retail presence across various platforms.
Contributions from this channel to the overall portfolio are projected to rise from 7% to 15%.
He said LG is maintaining its focus on the business-to-consumer segment as its core customer base and this accounts for about 70% of its portfolio.
This multi-channel approach ensures comprehensive market coverage while adapting to changing consumer preferences and maintaining LG's market leadership position.
Mr Amnaj said the company plans for 40% of its new products to feature artificial intelligence (AI) this year, up from roughly 20% last year.
He said for some product lines such as TVs, 90% of new releases will include AI capabilities.
However, not all new products would incorporate AI as some entry-level product lines will not be equipped with the technology.
The company plans to increase its marketing budget by 10% year-on-year. LG Thailand generated 15.2 billion baht in sales last year, up 5% year-on-year.
The company targets sales of 17.5 billion baht this year, an increase of 15%.
This growth would be driven by the B2B business, commercial HVAC solutions, and LG's subscription model, said Mr Amnaj.
