The South Korea HVAC market reached approximately USD 2.92 Billion in 2024. The market is projected to grow at a CAGR of 6.10% between 2025 and 2034, reaching a value of around USD 5.28 Billion by 2034.
There is also an increased emphasis on the installation of high-endHVAC systemswhich offer air filtration and ventilation properties, due to the rising health concerns related to poor air quality. The increasing purchasing power of middle-class consumers and the rising demand for a comfortable environment in households and the commercial sector also boost the market.
Technological advancements such as the development of smart HVAC systems as well as inverter-driven compressors are expected to witness an upward trajectory in the South Korean market as they offer superior performance and increased efficiency. For example, motion-activated HVAC systems use motion sensors to detect when a person enters the room, turning the air conditioners on or off autonomously, which results in higher energy savings.
Moreover, ductless HVAC systems are gaining popularity due to their ease of installation, space-saving design, and energy-efficient nature. These systems are readily implemented in the renovation or retrofitting projects in the country. HVAC systems with in-built diagnostics and predictive maintenance features that can reduce downtime, optimise performance, and increase the longevity of the equipment are also high in demand.
South Korea HVAC Market Growth
The rapid urbanisation, increase in infrastructure development, and government regulations encouraging the adoption of eco-efficient HVAC systems in the country are some of the major factors driving the market growth. For instance, the South Korean government mandated the display of Cooling Seasonal Performance Factor (CSPF) on the energy efficiency labels of air conditioners to offer proper guidance to customers so they can make an informed decision.There is also an increased emphasis on the installation of high-endHVAC systemswhich offer air filtration and ventilation properties, due to the rising health concerns related to poor air quality. The increasing purchasing power of middle-class consumers and the rising demand for a comfortable environment in households and the commercial sector also boost the market.
Technological advancements such as the development of smart HVAC systems as well as inverter-driven compressors are expected to witness an upward trajectory in the South Korean market as they offer superior performance and increased efficiency. For example, motion-activated HVAC systems use motion sensors to detect when a person enters the room, turning the air conditioners on or off autonomously, which results in higher energy savings.
Moreover, ductless HVAC systems are gaining popularity due to their ease of installation, space-saving design, and energy-efficient nature. These systems are readily implemented in the renovation or retrofitting projects in the country. HVAC systems with in-built diagnostics and predictive maintenance features that can reduce downtime, optimise performance, and increase the longevity of the equipment are also high in demand.
South Korea HVAC Industry Segmentation
“South Korea HVAC Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:Market Breakup by Equipment:
- Heating
- Heat Pumps
- Furnaces
- Unitary Heaters
- Ventilation
- Air-Handling Units
- Air Filters and Purifiers
- Ventilation Fans
- Dehumidifiers and Humidifiers
- Others
- Cooling
- Unitary Air Conditioners
- VRF Systems
- Chillers
- Coolers
- Cooling Towers
- Others
Market Breakup by Implementation Type:
- New Constructions
- Retrofits
Market Breakup by End Use:
- Residential
- Commercial
- Industrial
South Korea HVAC Market Share
The residential HVAC market is witnessing significant growth due to a rise in single-family and multi-family housing. The desire for cozy living spaces has surged due to factors such as urbanisation, rising disposable incomes, and growing awareness of energy efficiency. During the forecast period, these factors are expected to drive the adoption of HVAC systems, including air conditioning, air filtration, air purifiers, and dehumidifiers.Leading Companies in South Korea HVAC Market
The market players are engaging in the development of innovative HVAC products to gain a competitive edge in the market.- LG Corp.
- Robert Bosch GmbH
- Hitachi Ltd.
- Samsung Electronics Co. Ltd.
- Haier Smart Home Co. Ltd.
- Mitsubishi Electric Corporation
- Panasonic Holdings Corp.
- Daikin Industries Ltd.
- Johnson Controls International Plc
- Trane Technologies Plc
- Others
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Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Asia Pacific HVAC Market Overview
6 South Korea HVAC Market Overview
7 South Korea HVAC Market by Equipment
8 South Korea HVAC Market by Implementation Type
9 South Korea HVAC Market by End Use
10 Market Dynamics
12 Trade Data Analysis (HS Code - 8415, 841861)
13 Competitive Landscape
Companies Mentioned
- LG Corp.
- Robert Bosch GmbH
- Hitachi Ltd.
- Samsung Electronics Co. Ltd.
- Haier Smart Home Co. Ltd.
- Mitsubishi Electric Corporation
- Panasonic Holdings Corp.
- Daikin Industries Ltd.
- Johnson Controls International Plc
- Trane Technologies Plc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 2.92 Billion |
| Forecasted Market Value ( USD | $ 5.28 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | South Korea |
| No. of Companies Mentioned | 10 |
