How big is the South Korea HVAC Market?

The South Korea HVAC Market size is expected to reach USD 10.04 billion in 2024 and grow at a CAGR of 6.79% to reach USD 13.94 billion by 2029. Read More

What is the current South Korea HVAC Market size?

In 2024, the South Korea HVAC Market size is expected to reach USD 10.04 billion. Read More

Who are the key players in South Korea HVAC Market?

Johnson Controls International PLC, Carrier Corporation, LG Electronics Inc., Mitsubishi Electric Corporation and Panasonic Corporation are the major companies operating in the South Korea HVAC Market. Read More

What years does this South Korea HVAC Market cover, and what was the market size in 2023?

In 2023, the South Korea HVAC Market size was estimated at USD 9.36 billion. The report covers the South Korea HVAC Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea HVAC Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

South Korea HVAC Market Size & Share Analysis - Industry Research Report

South Korea HVAC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The South Korea HVAC Market Report is Segmented by Component (HVAC Equipment [Heating Equipment and Air Conditioning/Ventilation Equipment] and HVAC Services), and End-User Industry (Residential, Commercial, Industrial). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

South Korea HVAC Industry Overview

The South Korea HVAC market is fragmented and consists of several players. Companies in the market continuously try to increase their market presence by introducing new products, expanding their operations, or entering into strategic mergers and acquisitions, partnerships, and collaborations. Some of the major players include Panasonic Corporation, Mitsubishi Electric Corporation, LG Electronics Inc., Carrier Corporation, Johnson Controls International PLC, and many more.

• In May 2024, LG Electronics announced to host the inaugural LG HVAC Consultant Leaders' Summit – LG Alumni Event – in Seoul, South Korea. The summit provides heating, ventilation and air conditioning (HVAC) consultants from across Asia, with the valuable opportunity to benefit from LG's extensive industry insight and to learn more about its advanced technologies. Through this event the company will bloster its leadership in the Asia region, for rapidly-expanding HVAC market.

• In May 2024, Midea introduced the EVOX G3 heat pump system. This new iteration of the EVOX series consists of the EVOX G3 Heat Pump and EVOX G3 Air Handling Unit (AHU). Available in sizes ranging from 1.5-ton to 5-ton units, the Midea EVOX G3 heat pumps are equipped with Enhanced Vapor Injection (EVI) technology and a multi-layer heat exchanger, guaranteeing reliable warmth without the need for auxiliary heat, even in extreme weather conditions.