South Korea Hvac Systems Market Size & Outlook, 2025-2033
Global Report
Related Markets
South Korea hvac systems market highlights
- The South Korea hvac systems market generated a revenue of USD 5,939.7 million in 2024 and is expected to reach USD 11,195.3 million by 2033.
- The South Korea market is expected to grow at a CAGR of 7.2% from 2025 to 2033.
- In terms of segment, residential was the largest revenue generating application in 2024.
- Commercial is the most lucrative application segment registering the fastest growth during the forecast period.
Hvac systems market data book summary
| Market revenue in 2024 | USD 5,939.7 million |
| Market revenue in 2033 | USD 11,195.3 million |
| Growth rate | 7.2% (CAGR from 2025 to 2033) |
| Largest segment | Residential |
| Fastest growing segment | Commercial |
| Historical data | 2021 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
| 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 hvac systems market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, China hvac systems market is projected to lead the regional market in terms of revenue in 2033.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 20,599.2 million by 2033.
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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Publish Date: Oct 17, 2025
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Fujitsu Ltd | View profile | 124,055 | Shiodome City Center, 1-5-2 Higashi-Shimbashi, Minato-ku, Tokyo, Japan, 105-7123 | www.fujitsu.com |
| Hitachi Ltd | View profile | 322,525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | www.hitachi.com |
| Johnson Controls International PLC | View profile | 102,000 | One Albert Quay, Cork, Ireland, T12 X8N6 | www.johnsoncontrols.com |
| Mitsubishi Electric Corp | View profile | 149,134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | www.mitsubishielectric.com |
| Samsung Electronics Co Ltd | View profile | 124,804 | 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 | www.samsung.com |
| LG Electronics Inc ADR | View profile | 35,111 | Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 | www.lge.co.kr |
| Daikin Industries Ltd | View profile | 107,127 | Umeda Center Building, 2-4-12, Nakazaki-Nishi, Kita-ku, Osaka, Japan, 530-8323 | www.daikin.com |
| Carrier Global Corp Ordinary Shares | View profile | 53,000 | 13995 Pasteur Boulevard, Palm Beach Gardens, FL, United States, 33418 | www.corporate.carrier.com |
| Haier | View profile | 10001+ | Qingdao Shi, Shandong, China, Asia | haier.com/in |
| Lennox International Inc | View profile | 12,600 | 2140 Lake Park Boulevard, Richardson, TX, United States, 75080 | www.lennox.com |
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 Outlook will help companies and investors design strategic landscapes.
Residential was the largest segment with a revenue share of 42.1% in 2024.
Horizon Databook has segmented the South Korea hvac systems market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2021 to 2033.
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.
- South Korea Hvac Systems Market Application Outlook (Revenue, USD million , 2021-2033)
- Residential
- Commercial
- Industrial
- South Korea Hvac Systems Market Equipment Outlook (Revenue, USD million , 2021-2033)
- Heating
- Ventilation
- Cooling
- South Korea Hvac Systems Market Distribution Channel Outlook (Revenue, USD million , 2021-2033)
- Online
- Retail Stores
- Wholesale Stores
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea HVAC Systems Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea HVAC Systems Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
South Korea Hvac Systems Market, 2021-2033 (US$M)
South Korea Application - Hvac Systems Market Statistics, 2024 - 2033 (US$M)
