South Korea Chillers Market Size & Outlook, 2023-2030
South Korea chillers market, 2018-2030 (US$M)
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South Korea chillers market highlights
- The South Korea chillers market generated a revenue of USD 301.1 million in 2023 and is expected to reach USD 408.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, water-cooled was the largest revenue generating by product in 2023.
- Air-Cooled is the most lucrative by product segment registering the fastest growth during the forecast period.
Chillers market data book summary
| Market revenue in 2023 | USD 301.1 million |
| Market revenue in 2030 | USD 408.7 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Water-cooled |
| Fastest growing segment | Air-Cooled |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Water-Cooled, Air-Cooled |
| Key market players worldwide | Trane Technologies PLC Class A, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Johnson Controls International PLC, Rite-Hite, Air Products & Chemicals Inc, Honeywell International Inc, ClimaCool, Fluid Chillers, General Air Products, Rite-Temp |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.0% of the global chillers market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China chillers market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,672.8 million by 2030.
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Chillers Market Scope
Chillers Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea chillers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to chillers market will help companies and investors design strategic landscapes.
Water-cooled was the largest segment with a revenue share of 58.88% in 2023. Horizon Databook has segmented the South Korea chillers market based on water-cooled, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
In semiconductor manufacturing and research facilities chillers are used to lower the temperature of the work environment by removing the heat produced by exothermic processes in semiconductor industry. It is also used to supply cold air that can reduce the equipment temperature.
In March 2023, South Korea’s government has passed the K-Chips act that would increase the tax credit from 8% to 15 % for big corporates interested to invest in manufacturing facilities.
This act is likely to attract more domestic investment in the semiconductor manufacturing industry. Hence, with the growth in manufacturing operations &production, the demand for Chillers to maintain efficiency of the semiconductor manufacturing facility is anticipated to grow over the forecast period.
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Our clientele includes a mix of chillers market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea chillers market , including forecasts for subscribers. This country databook contains high-level insights into South Korea chillers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea chillers market size, by by product, 2018-2030 (US$M)
South Korea Chillers Market Outlook Share, 2023 & 2030 (US$M)
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