South Korea Hvac Systems Market Size & Outlook, 2023-2030
South Korea hvac systems market, 2018-2030 (US$M)
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South Korea hvac systems market highlights
- The South Korea hvac systems market generated a revenue of USD 5,725.7 million in 2023 and is expected to reach USD 9,501.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, air purifier was the largest revenue generating equipment in 2023.
- Air Purifier is the most lucrative equipment segment registering the fastest growth during the forecast period.
Hvac systems market data book summary
| Market revenue in 2023 | USD 5,725.7 million |
| Market revenue in 2030 | USD 9,501.4 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Air purifier |
| Fastest growing segment | Air Purifier |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heat Pump, Furnace, Unitary Heaters, Boilers, Air Purifier, Dehumidifier, Air Handling Units, Ventilation Fans, Air Conditioning, Chillers, Cooling Towers |
| Key market players worldwide | Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Fujitsu Ltd, Haier, Hitachi Ltd, Johnson Controls International PLC, LG Electronics Inc ADR, Lennox International Inc, Mitsubishi Electric Corp, Samsung Electronics Co Ltd, Trane Technologies PLC Class A |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.5% of the global hvac systems market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China hvac systems 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 14,371.6 million by 2030.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea hvac systems 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 hvac systems market will help companies and investors design strategic landscapes.
Air purifier was the largest segment with a revenue share of 26.04% in 2023. Horizon Databook has segmented the South Korea hvac systems market based on heat pump, furnace, unitary heaters, boilers, air purifier, dehumidifier, air handling units, ventilation fans, air conditioning, chillers, cooling towers covering the revenue growth of each sub-segment from 2018 to 2030.
The economy of South Korea is extensively dependent on manufacturing, service, retail, and real estate industries. Industrial production in the country is increasing every month, according to Moody’s Analytics, Inc., after experiencing a decline due to the sluggish performance of automobile and electric components.
This industrial growth in the country is expected to drive the demand for HVAC equipment over the forecast period. This is likely to have a positive impact on the overall HVAC systems demand over the forecast period.
Furthermore, rising investment in the semiconductor industry to meet the growing demand for electronics worldwide is anticipated to fuel the growth of the dehumidifiers market. Dehumidifiers are used for maintaining the relative humidity in the semiconductor fabrication workshops.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into South Korea hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea hvac systems market size, by equipment, 2018-2030 (US$M)
South Korea HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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