South Korea Heat Pump Market Size & Outlook, 2022-2030
South Korea heat pump market, 2018-2030 (US$M)
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South Korea heat pump market highlights
- The South Korea heat pump market generated a revenue of USD 1,185.7 million in 2022 and is expected to reach USD 2,113.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.5% from 2023 to 2030.
- In terms of segment, air source was the largest revenue generating technology in 2022.
- Air Source is the most lucrative technology segment registering the fastest growth during the forecast period.
Heat pump market data book summary
| Market revenue in 2022 | USD 1,185.7 million |
| Market revenue in 2030 | USD 2,113.1 million |
| Growth rate | 7.5% (CAGR from 2022 to 2030) |
| Largest segment | Air source |
| Fastest growing segment | Air Source |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Air Source, Water Source, Geothermal |
| Key market players worldwide | Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Robert Bosch Engineering & Business Solutions, Lennox International Inc, Johnson Controls International PLC, Hitachi Ltd, Ingersoll Rand Inc, Palomar Holdings Inc, Haier, Panasonic Holdings Corp, Danfoss A/S, Fujitsu Ltd, LG Electronics Inc ADR, Samsung Electronics Co Ltd, Midea Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.5% of the global heat pump market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China heat pump market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 749.8 million by 2030.
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Heat Pump Market Scope
Heat Pump Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea heat pump 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 heat pump market will help companies and investors design strategic landscapes.
Air source was the largest segment with a revenue share of 81.73% in 2022. Horizon Databook has segmented the South Korea heat pump market based on air source, water source, geothermal covering the revenue growth of each sub-segment from 2018 to 2030.
- South Korea Heat Pump Technology Outlook (Revenue, USD Million, 2018-2030)
- Air Source
- Air to Air
- Air to Water
- Water Source
- Geothermal
- Air Source
- South Korea Heat Pump Application Outlook (Revenue, USD Million, 2018-2030)
- Residential
- Commercial
- Industrial
- South Korea Heat Pump Capacity Outlook (Revenue, USD Million, 2018-2030)
- Upto 10 kW
- 10 –20 kW
- 20 –50 kW
- 50 – 100 kW
- 100 – 200 kW
- Above 200 kW
- South Korea Heat Pump Operation Type Outlook (Revenue, USD Million, 2018-2030)
- Electric
- Hybrid
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Target buyers of South Korea heat pump market databook
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Our clientele includes a mix of heat pump market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea heat pump market , including forecasts for subscribers. This country databook contains high-level insights into South Korea heat pump market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea heat pump market size, by technology, 2018-2030 (US$M)
South Korea Heat Pump Market Outlook Share, 2022 & 2030 (US$M)
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