Business vision

 

 

 

No.1 Company in the Development of Power-Saving Electric Heating Arrangements (System)

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■Market Scale of the Floor Heating Market

 

The global floor heating market will continue to grow at a compound annual growth rate (CAGR) of 7.5% for 2017-2023,

reaching 4.5 trillion won by 2023. The main growth drivers of the market are continuous research and development (R&D),
increased demand for energy-saving systems, tax credits and activities for low-carbon society.
The European and U.S. markets especially are expected to grow significantly in the future.


Global information floor heating market (2018)                         


■Market Scale of the Electric Floor Heating Market

 

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                  ※ Calculation grounds: Companies such as Tyco and TRM monopolize more than 80% of the world market in terms of electric heating and
                      their annual sales were used as a basis for calculating the global market scale. For reference, the sales calculated here are mostly inorganic
                      material insulation cables. As for the domestic market, an annual import amount of heat resistive materials was used for calculating the market size;
                      approximately 20% of them were calculated as inorganic material insulation cables

 

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        ■ U.S. Market Size
             According to a survey by the Radiant Professionals Alliance, the heating cable market in the U.S. has grown more than
            30 times over the past decade, and the market size has been growing steadily. While it is hard to get the overall market size,
            it is estimated to be several times of its import market for heating cable ($ 480 million = \ 512.8 billion (exchange rate as of
            March 18, 2018 is applied).




U.S. heating cable import market size and growth rate in recent three years

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         ■ Russian market size
               - Russia's heating device market is large due to its extreme weather conditions.

               - According to the NeoAnalytics marketing agency, demand for heating floor cables in Russia is estimated at € 111 million in 2012.

                 (€ 111 million = \ 145.9 billion (exchange rate as of March 18, 2018 is applied))

               - In recent years, heating floor products have become steadily popular in Russia and the market is expanding year by year.
                 Prospects for heating floor devices look favorable due to its long, cold weather and relatively low electricity.

               - In Russia, the demand for the installation of heating floors is increasing with the recent construction of new homes and the remodeling of
                  existing old houses.

                 When remodeling a house, it is common to install heating system in the bathroom, washroom, kitchen, and living room.

 

 

The size and growth rate of heating cable import market in Russia in recent three years

 

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       ■ Chinese Market Size
             
Local governments in various regions of China are controlling district heating in accordance with the resource-saving and
                   environment-friendly society requirements recently devised by the Chinese government.

In particular, a public outcry for energy saving and reduced emissions is growing due to smog, which triggered pay per
use system in various regions.

Clean electric heating developed rapidly.

 

 

Electricity floor heating imports in recent three years and import trends of top 10 countries (including import statistics in Korea)

 

 

(US $ 1000, %)                    

 

Classification

Amount of Money

Market Share

Rate of Change

2011

2012

2013

2011

2012

2013

2011

Total

263,380

271,366

302,819

100

100

100

11.6

1

Japan

60,325

68,177

62,634

22.90

25.12

20.68

-8.1

2

the U.S.

48,556

52,132

53,102

18.44

19.21

19.21

1.9

3

Germany

36,321

39,925

47,775

13.79

14.71

15.78

19.7

4

Republic of Korea

15,616

19,315

22,371

5.93

7.12

7.39

15.8

5

Thailand

20,580

11,109

17,370

7.81

4.10

5.74

56.4

6

Italy

6,822

6,248

8,986

2.59

2.30

2.97

43.8

7

Vietnam

3,235

4,532

8,116

1.23

1.67

2.68

79.1

8

United Kingdom

3,235

5,708

8,075

1.23

2.10

2.67

41.5

9

Taiwan

5,262

4,771

7,019

2.00

1.76

2.32

47.1

10

Hong Kong

806

1,280

5,540

0.3

0.47

1.83

333.0

 

 

Share of electric floor heating in China

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       ■Turkish Market Size

 

            - As the demand for heating cable increases, Turkish market size is gradually expanding.

            - Turkey depends on imports for all of its demands for heating cable as it is not domestically produced and the number of suppliers is increasing,
               which is estimated to be a factor to decrease prices.

 

 

The size and growth rate of heating cable import market in Turkey in recent three years

 

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Share of heating cable in Turkey

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Business strategies 10.jpg

    - Differentiation Strategy: Brand Enhancement Marketing Strategy through Quality and Performance Certifications of Certified Institutions

    - Centralization Strategy: Focus on electric heating systems and devices

    - Cost Leadership Strategy: Continuous cost control, utilization of product efficiency, and high labor productivity

    - Customer Satisfaction: Strengthening internal competencies, enhancing brand value, and fulfilling social responsibilities

    - Product Development: Developing products that are going to increase sales by analyzing customer needs and understanding market trends

    - Performance-oriented: Establishment of a responsible management system and strategic development of core business sectors

    - Strategic Resource Allocation: Budget efficiency and useful financial information

    - Digital Management System: Support for business innovation that maximizes customer satisfaction and optimization of product management and development

    - Specialization of Sales Organization: Strengthen sales professionalism by delegating sales responsibilities to a specific organization

 

 

 

     

 

 

            ■ Power-saving GT CARBON HEATING

                The company manufactures and sells  power-saving GT CARBON HEATING that adopt a patented technology maximizing PTC effect.
                    The company operates a responsible management system by unifying product R&D, manufacturing and sales and will introduce an
                    overseas buyer management system to supply GT CARBON HEATING not only through domestic distribution channels, but also through overseas ones.

 

 

      - Advanced power-saving electric GT CARBON HEATING

     - Produce power-saving electric heating and safe, economical, and eco-friendly GT CARBON HEATING by maximizing PTC effect

     - Contributing to the development of the building industry and heating industry

     - Contributing to the healthy life of the people ("improving the quality of life")

     - Providing service that satisfies customers through global distribution networks (domestic and overseas service centers) 

 


 

Expected Effect

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Business Plans
 

 

 

 

 

          ■ Step-By-Step Action Plans and Sales Targets

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GTKOREA, Inc.