South Korea HVAC Market Share

Market Share of South Korea HVAC Industry

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.

South Korea HVAC Market Leaders

1. Johnson Controls International PLC

2. Carrier Corporation

3. LG Electronics Inc.

4. Mitsubishi Electric Corporation

5. Panasonic Corporation

*Disclaimer: Major Players sorted in no particular order