South Korea HVAC Systems Market by Equipment (Cooling Equipment, Heating Equipment, and Ventilation), by Implementation Type (New Construction and Retrofit), and by End User (Residential, Commercial, and Industrial) - Opportunity Analysis and Industry Forecast, 2024– 2030

South Korea HVAC Systems Market

Industry:  Construction & Manufacturing | Publish Date: Apr 2024 | No of Pages:  119 | No. Tables:  87 | No. Figures:  52

Market Definition

The South Korea HAVC System Market size was valued at USD 3.63 billion in 2023, and is predicted to reach USD 5.57 billion by 2030, at a CAGR of 5.8% from 2024 to 2030.

HVAC (Heating, Ventilation, and Air Conditioning) refers to the technology and systems used in buildings to regulate indoor environmental conditions such as temperature, humidity, and air quality to ensure comfort and safety for occupants. Heating systems provide warmth during colder months, ventilation systems circulate and replenish indoor air, and air conditioning systems cool and dehumidify indoor air during warmer months.

HVAC systems offer several advantages, including improved occupant comfort and health, increased energy efficiency leading to cost savings, better indoor air quality through filtration and ventilation, precise temperature control for enhanced productivity in commercial settings, and protection of building infrastructure from extreme weather conditions. Additionally, these systems can be designed to meet specific requirements, contributing to sustainability goals by reducing carbon emissions and promoting eco-friendly practices in building operations.

Rising Urbanization and Construction Trends Propels the Market Expansion

Urbanization and construction trends serve as significant catalysts for expansion within the HVAC sector. As urban populations burgeon, there arises an increased demand for HVAC installations across various structures including residential, commercial, and industrial facilities such as apartments, office complexes, shopping centers, and factories.

Simultaneously, there is a noticeable shift in construction methodologies towards sustainability and energy efficiency, spurred by green building initiatives mandated by governments and driven by environmental concerns. These initiatives necessitate stringent HVAC standards in new constructions, thereby fostering a market for environmentally-friendly solutions.

Additionally, the inclination towards renovating and retrofitting existing buildings further accentuates the necessity for HVAC upgrades, aligning with contemporary energy-saving technologies. The integration of HVAC systems with building automation and smart technology further enhances building performance and energy efficiency, highlighting the intertwined influence of urbanization, sustainable construction, and technological innovation in driving the growth trajectory of the HVAC industry.

 

Environmental Concerns Drive Growth in the HVAC Systems Industry

Environmental considerations play a pivotal role in propelling growth within the HVAC systems industry. With heightened awareness surrounding issues such as climate change, air pollution, and ozone depletion, there exists mounting pressure for the adoption of sustainable practices and adherence to regulatory frameworks.

Governments globally are imposing mandates aimed at mitigating the environmental impact of HVAC systems, consequently driving the development and integration of eco-conscious technologies.

Price Volatility of Raw Materials Restrains the Growth of the HVAC system Market

Inflation and supply chain disturbances contribute to the escalating expenses of raw materials, thereby negatively impacting the manufacturing outlay of HVAC systems. The surge in costs pertaining to critical raw materials including steel, copper, and aluminum further compounds the production costs for HVAC manufacturers.

Consequently, small and mid-scale players in the HVAC sector encounter margin squeezes, impeding their profitability and hampering investment in research and development. This poses a limitation on market expansion.

 

IoT Integration Creates Ample Opportunities for the HVAC System Market

The convergence of Internet of Things (IoT) technology represents a substantial market opportunity within the HVAC industry. The integration of IoT technology enables remote control functionalities, heightened energy efficiency, and predictive maintenance solutions. By integrating IoT devices and sensors into HVAC systems, users can remotely monitor and adjust settings, optimize energy consumption, and proactively address maintenance issues before they escalate.

This enhances user experience and comfort levels, reduces energy expenditures, and extends the longevity of HVAC equipment. Given the rising demand for smarter and more efficient buildings, surpassing current infrastructure capabilities, the adoption of IoT integration is forecasted to create numerous opportunities within the HVAC system market.

 

Competitive Landscape

The market players operating in the South Korea HVAC System market include Midea Group Co Ltd, Daikin Industries Ltd., Gree Electric Appliances Inc., Johnson Controls International Plc., Carrier Global Corporation, Samsung Electronics Co., Ltd., Trane Technologies Plc., LG Electronics Inc., Panasonic Holdings Corporation, Lennox International Inc. and others.

South Korea HVAC System Market Key Segments

By Equipment

  • Cooling Equipment

    • Unitary Air Conditioners 

    • Variable Refrigerant Flow Systems (VRF)

    • Chillers

    • Room Air Conditioners 

    • Coolers

    • Cooling Towers

  • Heating Equipment

    • Heat Pumps

    • Furnaces

    • Unitary Heaters

    • Boilers

  • Ventilation 

    • Air-handling Units (AHUs)

    • Air Filtration Systems

    • Ventilation Fans

    • HRVs & ERVs

    • Air Purification Systems

    • Others

By Implementation Type

  • New Construction

  • Retrofit

By End User

  • Residential

  • Commercial

  • Industrial

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 3.63 Billion

Revenue Forecast in 2030

USD 5.57 Billion

Growth Rate

CAGR of 5.8% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Billion (USD)

Growth Factors

  • Rising urbanization and construction trends propels the market expansion

  • Environmental concerns drive the growth of industry

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

Test

1      INTRODUCTION

           1.1      REPORT DESCRIPTION

           1.2      RESEARCH METHODOLOGY

                         1.2.1      SECONDARY RESEARCH

                         1.2.2      DATA ANALYSIS FRAMEWORK

                         1.2.3      MARKET SIZE ESTIMATION

                         1.2.4      FORECASTING

                         1.2.5      PRIMARY RESEARCH AND DATA VALIDATION

2      SOUTH KOREA HVAC SYSTEM MARKET – EXECUTIVE SUMMARY

           2.1.      MARKET SNAPSHOT, 2023 - 2030, MILLION USD

3      PORTER’S FIVE FORCE MODEL ANALYSIS

           3.1      BARGAINING POWER OF SUPPLIERS

           3.2      BARGAINING POWER OF BUYERS

           3.3      DEGREE OF COMPETITION

           3.4      THREAT OF SUBSTITUTE

           3.5      THREAT OF NEW ENTRANTS

4      MARKET SHARE ANALYSIS

           4.1      MARKET SHARE ANALYSIS OF TOP PROVIDERS, 2023

5      MARKET DYNAMICS

           5.1      GROWTH DRIVERS

                         5.1.1      DRIVER 1

                         5.1.2      DRIVER 2

                         5.1.3      DRIVER 3

                         5.1.4      DRIVER 4

           5.2      CHALLENGES

                         5.2.1      CHALLENGE 1

                         5.2.2      CHALLENGE 2

                         5.2.3      CHALLENGE 3

                         5.2.4      CHALLENGE 4

           5.3      OPPORTUNITIES

                         5.3.1      OPPORTUNITY 1

                         5.3.2      OPPORTUNITY 2

6       SOUTH KOREA HVAC SYSTEM MARKET BY EQUIPMENT

           6.1      OVERVIEW

           6.2      COOLING EQUIPMENT MARKET

                         6.2.1      UNITARY AIR CONDITIONERS

                         6.2.2       VARIABLE REFRIGERANT FLOW SYSTEMS (VRF)

                         6.2.3       CHILLERS

                         6.2.4       ROOM AIR CONDITIONERS

                         6.2.5       COOLERS

                         6.2.6       COOLING TOWERS

           6.3      HEATING EQUIPMENT MARKET

                         6.3.1      HEAT PUMPS

                         6.3.2       FURNACES

                         6.3.3       UNITARY HEATERS

                         6.3.4       BOILERS

           6.4      VENTILATION MARKET

                         6.4.1      AIR-HANDLING UNITS (AHUS)

                         6.4.2       AIR FILTRATION SYSTEMS

                         6.4.3       VENTILATION FANS

                         6.4.4       HRVS AND ERVS

                         6.4.5       AIR PURIFICATION SYSTEMS

                         6.4.6       OTHERS

7       SOUTH KOREA HVAC SYSTEM MARKET BY IMPLEMENTATION TYPE

           7.1      OVERVIEW

           7.2      NEW CONSTRUCTION MARKET

           7.3      RETROFIT MARKET

8       SOUTH KOREA HVAC SYSTEM MARKET BY END USER

           8.1      OVERVIEW

           8.2      RESIDENTIAL MARKET

           8.3      COMMERCIAL MARKET

           8.4      INDUSTRIAL MARKET

9     COMPANY PROFILES

           9.1     MIDEA GROUP CO LTD.

                         9.1.1     COMPANY OVERVIEW

                         9.1.2     COMPANY SNAPSHOT

                         9.1.3     OPERATING BUSINESS SEGMENTS

                         9.1.4     PRODUCT PORTFOLIO

                         9.1.5     BUSINESS PERFORMANCE

                         9.1.6     BUSINESS SEGMENTS

                         9.1.7     GEOGRAPHIC SEGMENTS

                         9.1.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.1.9     PRIMARY MARKET COMPETITORS

           9.2     DAIKIN INDUSTRIES LTD.

                         9.2.1     COMPANY OVERVIEW

                         9.2.2     COMPANY SNAPSHOT

                         9.2.3     OPERATING BUSINESS SEGMENTS

                         9.2.4     PRODUCT PORTFOLIO

                         9.2.5     BUSINESS PERFORMANCE

                         9.2.6     BUSINESS SEGMENTS

                         9.2.7     GEOGRAPHIC SEGMENTS

                         9.2.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.2.9     PRIMARY MARKET COMPETITORS

           9.3     GREE ELECTRIC APPLIANCES INC.

                         9.3.1     COMPANY OVERVIEW

                         9.3.2     COMPANY SNAPSHOT

                         9.3.3     OPERATING BUSINESS SEGMENTS

                         9.3.4     PRODUCT PORTFOLIO

                         9.3.5     BUSINESS PERFORMANCE

                         9.3.6     BUSINESS SEGMENTS

                         9.3.7     GEOGRAPHIC SEGMENTS

                         9.3.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.3.9     PRIMARY MARKET COMPETITORS

           9.4     JOHNSON CONTROLS INTERNATIONAL PLC.

                         9.4.1     COMPANY OVERVIEW

                         9.4.2     COMPANY SNAPSHOT

                         9.4.3     OPERATING BUSINESS SEGMENTS

                         9.4.4     PRODUCT PORTFOLIO

                         9.4.5     BUSINESS PERFORMANCE

                         9.4.6     BUSINESS SEGMENTS

                         9.4.7     GEOGRAPHIC SEGMENTS

                         9.4.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.4.9     PRIMARY MARKET COMPETITORS

           9.5     CARRIER GLOBAL CORPORATION

                         9.5.1     COMPANY OVERVIEW

                         9.5.2     COMPANY SNAPSHOT

                         9.5.3     OPERATING BUSINESS SEGMENTS

                         9.5.4     PRODUCT PORTFOLIO

                         9.5.5     BUSINESS PERFORMANCE

                         9.5.6     BUSINESS SEGMENTS

                         9.5.7     GEOGRAPHIC SEGMENTS

                         9.5.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.5.9     PRIMARY MARKET COMPETITORS

           9.6     SAMSUNG ELECTRONICS CO., LTD.

                         9.6.1     COMPANY OVERVIEW

                         9.6.2     COMPANY SNAPSHOT

                         9.6.3     OPERATING BUSINESS SEGMENTS

                         9.6.4     PRODUCT PORTFOLIO

                         9.6.5     BUSINESS PERFORMANCE

                         9.6.6     BUSINESS SEGMENTS

                         9.6.7     GEOGRAPHIC SEGMENTS

                         9.6.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.6.9     PRIMARY MARKET COMPETITORS

           9.7     TRANE TECHNOLOGIES PLC.

                         9.7.1     COMPANY OVERVIEW

                         9.7.2     COMPANY SNAPSHOT

                         9.7.3     OPERATING BUSINESS SEGMENTS

                         9.7.4     PRODUCT PORTFOLIO

                         9.7.5     BUSINESS PERFORMANCE

                         9.7.6     BUSINESS SEGMENTS

                         9.7.7     GEOGRAPHIC SEGMENTS

                         9.7.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.7.9     PRIMARY MARKET COMPETITORS

           9.8     LG ELECTRONICS INC.

                         9.8.1     COMPANY OVERVIEW

                         9.8.2     COMPANY SNAPSHOT

                         9.8.3     OPERATING BUSINESS SEGMENTS

                         9.8.4     PRODUCT PORTFOLIO

                         9.8.5     BUSINESS PERFORMANCE

                         9.8.6     BUSINESS SEGMENTS

                         9.8.7     GEOGRAPHIC SEGMENTS

                         9.8.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.8.9     PRIMARY MARKET COMPETITORS

           9.9     PANASONIC HOLDINGS CORPORATION

                         9.9.1     COMPANY OVERVIEW

                         9.9.2     COMPANY SNAPSHOT

                         9.9.3     OPERATING BUSINESS SEGMENTS

                         9.9.4     PRODUCT PORTFOLIO

                         9.9.5     BUSINESS PERFORMANCE

                         9.9.6     BUSINESS SEGMENTS

                         9.9.7     GEOGRAPHIC SEGMENTS

                         9.9.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.9.9     PRIMARY MARKET COMPETITORS

           9.10     LENNOX INTERNATIONAL INC.

                         9.10.1     COMPANY OVERVIEW

                         9.10.2     COMPANY SNAPSHOT

                         9.10.3     OPERATING BUSINESS SEGMENTS

                         9.10.4     PRODUCT PORTFOLIO

                         9.10.5     BUSINESS PERFORMANCE

                         9.10.6     BUSINESS SEGMENTS

                         9.10.7     GEOGRAPHIC SEGMENTS

                         9.10.8     KEY STRATEGIC MOVES AND DEVELOPMENT

                         9.10.9     PRIMARY MARKET COMPETITORS

LIST OF TABLES

TABLE 1. SOUTH KOREA HVAC SYSTEM MARKET VALUE, BY EQUIPMENT, 2023-2030, (MILLION USD)

TABLE 2. COOLING EQUIPMENT, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 3. UNITARY AIR CONDITIONERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 4. VARIABLE REFRIGERANT FLOW SYSTEMS (VRF), MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 5. CHILLERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 6. ROOM AIR CONDITIONERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 7. COOLERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 8. COOLING TOWERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 9. HEATING EQUIPMENT, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 10. HEAT PUMPS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 11. FURNACES, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 12. UNITARY HEATERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 13. BOILERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 14. VENTILATION, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 15. AIR-HANDLING UNITS (AHUS), MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 16. AIR FILTRATION SYSTEMS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 17. VENTILATION FANS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 18. HRVS AND ERVS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 19. AIR PURIFICATION SYSTEMS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 20. OTHERS, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 21. SOUTH KOREA HVAC SYSTEM MARKET VALUE, BY IMPLEMENTATION TYPE, 2023-2030, (MILLION USD)

TABLE 22. NEW CONSTRUCTION, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 23. RETROFIT, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 24. SOUTH KOREA HVAC SYSTEM MARKET VALUE, BY END USER, 2023-2030, (MILLION USD)

TABLE 25. RESIDENTIAL, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 26. COMMERCIAL, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 27. INDUSTRIAL, MARKET VALUE, 2023-2030, (MILLION USD)

TABLE 28. MIDEA GROUP CO LTD.: COMPANY SNAPSHOT

TABLE 29. MIDEA GROUP CO LTD.: OPERATING BUSINESS SEGMENTS

TABLE 30. MIDEA GROUP CO LTD.: PRODUCT PORTFOLIO

TABLE 31. MIDEA GROUP CO LTD.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 32. MIDEA GROUP CO LTD.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 33. MIDEA GROUP CO LTD.: KEY STRATERGY

TABLE 34. DAIKIN INDUSTRIES LTD.: COMPANY SNAPSHOT

TABLE 35. DAIKIN INDUSTRIES LTD.: OPERATING BUSINESS SEGMENTS

TABLE 36. DAIKIN INDUSTRIES LTD.: PRODUCT PORTFOLIO

TABLE 37. DAIKIN INDUSTRIES LTD.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 38. DAIKIN INDUSTRIES LTD.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 39. DAIKIN INDUSTRIES LTD.: KEY STRATERGY

TABLE 40. GREE ELECTRIC APPLIANCES INC.: COMPANY SNAPSHOT

TABLE 41. GREE ELECTRIC APPLIANCES INC.: OPERATING BUSINESS SEGMENTS

TABLE 42. GREE ELECTRIC APPLIANCES INC.: PRODUCT PORTFOLIO

TABLE 43. GREE ELECTRIC APPLIANCES INC.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 44. GREE ELECTRIC APPLIANCES INC.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 45. GREE ELECTRIC APPLIANCES INC.: KEY STRATERGY

TABLE 46. JOHNSON CONTROLS INTERNATIONAL PLC.: COMPANY SNAPSHOT

TABLE 47. JOHNSON CONTROLS INTERNATIONAL PLC.: OPERATING BUSINESS SEGMENTS

TABLE 48. JOHNSON CONTROLS INTERNATIONAL PLC.: PRODUCT PORTFOLIO

TABLE 49. JOHNSON CONTROLS INTERNATIONAL PLC.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 50. JOHNSON CONTROLS INTERNATIONAL PLC.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 51. JOHNSON CONTROLS INTERNATIONAL PLC.: KEY STRATERGY

TABLE 52. CARRIER GLOBAL CORPORATION: COMPANY SNAPSHOT

TABLE 53. CARRIER GLOBAL CORPORATION: OPERATING BUSINESS SEGMENTS

TABLE 54. CARRIER GLOBAL CORPORATION: PRODUCT PORTFOLIO

TABLE 55. CARRIER GLOBAL CORPORATION: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 56. CARRIER GLOBAL CORPORATION: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 57. CARRIER GLOBAL CORPORATION: KEY STRATERGY

TABLE 58. SAMSUNG ELECTRONICS CO., LTD.: COMPANY SNAPSHOT

TABLE 59. SAMSUNG ELECTRONICS CO., LTD.: OPERATING BUSINESS SEGMENTS

TABLE 60. SAMSUNG ELECTRONICS CO., LTD.: PRODUCT PORTFOLIO

TABLE 61. SAMSUNG ELECTRONICS CO., LTD.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 62. SAMSUNG ELECTRONICS CO., LTD.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 63. SAMSUNG ELECTRONICS CO., LTD.: KEY STRATERGY

TABLE 64. TRANE TECHNOLOGIES PLC.: COMPANY SNAPSHOT

TABLE 65. TRANE TECHNOLOGIES PLC.: OPERATING BUSINESS SEGMENTS

TABLE 66. TRANE TECHNOLOGIES PLC.: PRODUCT PORTFOLIO

TABLE 67. TRANE TECHNOLOGIES PLC.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 68. TRANE TECHNOLOGIES PLC.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 69. TRANE TECHNOLOGIES PLC.: KEY STRATERGY

TABLE 70. LG ELECTRONICS INC.: COMPANY SNAPSHOT

TABLE 71. LG ELECTRONICS INC.: OPERATING BUSINESS SEGMENTS

TABLE 72. LG ELECTRONICS INC.: PRODUCT PORTFOLIO

TABLE 73. LG ELECTRONICS INC.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 74. LG ELECTRONICS INC.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 75. LG ELECTRONICS INC.: KEY STRATERGY

TABLE 76. PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT

TABLE 77. PANASONIC HOLDINGS CORPORATION: OPERATING BUSINESS SEGMENTS

TABLE 78. PANASONIC HOLDINGS CORPORATION: PRODUCT PORTFOLIO

TABLE 79. PANASONIC HOLDINGS CORPORATION: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 80. PANASONIC HOLDINGS CORPORATION: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 81. PANASONIC HOLDINGS CORPORATION: KEY STRATERGY

TABLE 82. LENNOX INTERNATIONAL INC.: COMPANY SNAPSHOT

TABLE 83. LENNOX INTERNATIONAL INC.: OPERATING BUSINESS SEGMENTS

TABLE 84. LENNOX INTERNATIONAL INC.: PRODUCT PORTFOLIO

TABLE 85. LENNOX INTERNATIONAL INC.: SALES BY BUSINESS SEGMENTS (2021-2023)

TABLE 86. LENNOX INTERNATIONAL INC.: SALES BY GEOGRAPHIC SEGMENTS (2021-2023)

TABLE 87. LENNOX INTERNATIONAL INC.: KEY STRATERGY

LIST OF FIGURES

FIGURE 1. BARGAINING POWER OF SUPPLIERS

FIGURE 2. BARGAINING POWER OF BUYERS

FIGURE 3. DEGREE OF COMPETITION

FIGURE 4. THREAT OF SUBSTITUTE

FIGURE 5. THREAT OF NEW ENTRANTS

FIGURE 6. SOUTH KOREA HVAC SYSTEM MARKET VALUE, BY EQUIPMENT, 2023-2030, (MILLION USD)

FIGURE 7. COOLING EQUIPMENT, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 8. UNITARY AIR CONDITIONERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 9. VARIABLE REFRIGERANT FLOW SYSTEMS (VRF), MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 10. CHILLERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 11. ROOM AIR CONDITIONERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 12. COOLERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 13. COOLING TOWERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 14. HEATING EQUIPMENT, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 15. HEAT PUMPS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 16. FURNACES, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 17. UNITARY HEATERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 18. BOILERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 19. VENTILATION, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 20. AIR-HANDLING UNITS (AHUS), MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 21. AIR FILTRATION SYSTEMS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 22. VENTILATION FANS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 23. HRVS AND ERVS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 24. AIR PURIFICATION SYSTEMS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 25. OTHERS, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 26. SOUTH KOREA HVAC SYSTEM MARKET VALUE, BY IMPLEMENTATION TYPE, 2023-2030, (MILLION USD)

FIGURE 27. NEW CONSTRUCTION, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 28. RETROFIT, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 29. SOUTH KOREA HVAC SYSTEM MARKET VALUE, BY END USER, 2023-2030, (MILLION USD)

FIGURE 30. RESIDENTIAL, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 31. COMMERCIAL, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 32. INDUSTRIAL, MARKET VALUE, 2023-2030, (MILLION USD)

FIGURE 33. MIDEA GROUP CO LTD.: NET SALES, (2021-2023)

FIGURE 34. MIDEA GROUP CO LTD.: PRIMARY MARKET COMPETITORS

FIGURE 35. DAIKIN INDUSTRIES LTD.: NET SALES, (2021-2023)

FIGURE 36. DAIKIN INDUSTRIES LTD.: PRIMARY MARKET COMPETITORS

FIGURE 37. GREE ELECTRIC APPLIANCES INC.: NET SALES, (2021-2023)

FIGURE 38. GREE ELECTRIC APPLIANCES INC.: PRIMARY MARKET COMPETITORS

FIGURE 39. JOHNSON CONTROLS INTERNATIONAL PLC.: NET SALES, (2021-2023)

FIGURE 40. JOHNSON CONTROLS INTERNATIONAL PLC.: PRIMARY MARKET COMPETITORS

FIGURE 41. CARRIER GLOBAL CORPORATION: NET SALES, (2021-2023)

FIGURE 42. CARRIER GLOBAL CORPORATION: PRIMARY MARKET COMPETITORS

FIGURE 43. SAMSUNG ELECTRONICS CO., LTD.: NET SALES, (2021-2023)

FIGURE 44. SAMSUNG ELECTRONICS CO., LTD.: PRIMARY MARKET COMPETITORS

FIGURE 45. TRANE TECHNOLOGIES PLC.: NET SALES, (2021-2023)

FIGURE 46. TRANE TECHNOLOGIES PLC.: PRIMARY MARKET COMPETITORS

FIGURE 47. LG ELECTRONICS INC.: NET SALES, (2021-2023)

FIGURE 48. LG ELECTRONICS INC.: PRIMARY MARKET COMPETITORS

FIGURE 49. PANASONIC HOLDINGS CORPORATION: NET SALES, (2021-2023)

FIGURE 50. PANASONIC HOLDINGS CORPORATION: PRIMARY MARKET COMPETITORS

FIGURE 51. LENNOX INTERNATIONAL INC.: NET SALES, (2021-2023)

FIGURE 52. LENNOX INTERNATIONAL INC.: PRIMARY MARKET COMPETITORS

KEY PLAYERS

  • Midea Group Co Ltd.

  • Daikin Industries Ltd.

  • Gree Electric Appliances Inc.

  • Johnson Controls International Plc.

  • Carrier Global Corporation

  • Samsung Electronics Co., Ltd.

  • Trane Technologies Plc.

  • LG Electronics Inc.

  • Panasonic Holdings Corporation

  • Lennox International Inc.


Frequently Asked Questions
Which are the key players operating in the South Korea HVAC system market?

The key market players operating in the South Korea HVAC system market are Midea Group Co Ltd, Daikin Industries Ltd., Gree Electric Appliances Inc., Johnson Controls International Plc., Carrier Global Corporation, Samsung Electronics Co., Ltd., Trane Technologies Plc., LG Electronics Inc., Panasonic Holdings Corporation, Lennox International Inc. and others.

What will be the size of the South Korea HVAC system market in 2030?

According to the Next Move Strategy Consulting, the size of the South Korea HVAC system market is estimated to be at USD 5.57 Billion in 2030.

What are the benefits of upgrading to a more energy-efficient HVAC system?

Upgrading to an energy-efficient HVAC system can lead to lower energy bills, reduced environmental impact, improved indoor comfort, enhanced indoor air quality, and potentially qualify you for incentives from utility companies or government programs.

What challenges are related to the HVAC system industry?

Key challenges are the high raw materials costs & regulatory compliances associated with HVAC systems.

What is the size of the South Korea HVAC system market in 2023?

According to the Next Move Strategy Consulting, the size of the South Korea HVAC system market is estimated at USD 3.63 Billion in 2023.