South Korea Heat Pump Market to 2032
Overview
The South Korea Heat Pump Market is expected to reach a 11.89 USD Billion by 2032 and is projected to grow at a CAGR of 42.06% from 2025 to 2032.
Revenue, 2024 (USD Billion)
2.31
Forecast, 2032 (USD Billion)
11.89
CAGR, 2024 - 2032
42.06%
Report Coverage
South Korea
South Korea Heat Pump Market 2018-2032 USD Billion
South Korea Heat Pump Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 2.31 USD Billion
- Projected Market Size (2032): 11.89 USD Billion
- CAGR (2025-2032): 42.06%
Key Findings of South Korea Heat Pump Market
- The South Korea Heat Pump Market was valued at 2.31 USD Billion in 2024.
- The South Korea Heat Pump Market is likely to grow at a CAGR of 42.06% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Units < 20KW in Capacity Segment accounted for the largest share of the market with a revenue of 1.51 USD Billion
- The fastest growing segment Reversible Air-Air W/Heating in Category Segment grew Fastest with a CAGR of 45.00% during the forecast period from 2024 to 2032.
South Korea Heat Pump Market Scope
South Korea Heat Pump Market Segmentation & Scope
Category
- Exhaust Air
- Reversible Others
- Sanitary Hot Water
- H-Ground/Water
- H-Air/Water
- Reversible Air-Air W/Heating
Energy Source
- Ground Source
- Air/Air
- Air/Water
Type
- Ductless
- Ducted
Sector
- Industrial
- Commercial
- Residential
Capacity
- Units > 20 KW
- Units < 20KW
South Korea Heat Pump Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2019 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 2.31 USD Billion |
| Market Value in 2032 | 11.89 USD Billion |
| CAGR (2025-2032) | 42.06% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Category,Energy Source,Type,Sector,Capacity |
Regional Insights:
-
Leading Market (2024-2032): South Korea, leading in terms of revenue 2.31 USD Billion in 2024
- Key Country: South Korea, leading in terms of revenue with value of 2,310.37 USD Million in 2024.
Segments and Scope
-
South Korea Heat Pump Market to 2032, By Category
- Reversible Air-Air W/Heating is the largest segment in South Korea Heat Pump Market to 2032 with a revenue of 1.19 USD Billion in the year 2024.
- Reversible Air-Air W/Heating is the Fastest growing segment in South Korea Heat Pump Market to 2032 with a Growth rate of 45.00 % in forecast period 2025-2032.
-
South Korea Heat Pump Market to 2032, By Energy Source
- Air/Water is the largest segment in South Korea Heat Pump Market to 2032 with a revenue of 1.16 USD Billion in the year 2024.
- Air/Water is the Fastest growing segment in South Korea Heat Pump Market to 2032 with a Growth rate of 43.29 % in forecast period 2025-2032.
-
South Korea Heat Pump Market to 2032, By Type
- Ducted is the largest segment in South Korea Heat Pump Market to 2032 with a revenue of 1.47 USD Billion in the year 2024.
- Ducted is the Fastest growing segment in South Korea Heat Pump Market to 2032 with a Growth rate of 42.62 % in forecast period 2025-2032.
-
South Korea Heat Pump Market to 2032, By Sector
- Residential is the largest segment in South Korea Heat Pump Market to 2032 with a revenue of 1.10 USD Billion in the year 2024.
- Commercial is the Fastest growing segment in South Korea Heat Pump Market to 2032 with a Growth rate of 41.61 % in forecast period 2025-2032.
-
South Korea Heat Pump Market to 2032, By Capacity
- Units < 20KW is the largest segment in South Korea Heat Pump Market to 2032 with a revenue of 1.51 USD Billion in the year 2024.
- Units > 20 KW is the Fastest growing segment in South Korea Heat Pump Market to 2032 with a Growth rate of 41.17 % in forecast period 2025-2032.
South Korea Heat Pump Market Company Share Analysis
| Company Name |
|
||
| Mitsubishi Electric Corporation | |||
| Panasonic Corporation | |||
| Danfoss | |||
| NIBE Industrier AB | |||
| Bosch Thermotechnik GmbH | |||
South Korea Heat Pump Market Geographical Sales Distribution, 2018-2032 USD Billion
South Korea Heat Pump Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The South Korea Heat Pump Market is segmented based on Segmentation Category,Energy Source,Type,Sector,Capacity.
South Korea Heat Pump Market was valued at USD 2.31(Revenue in USD Billion) in 2019.
South Korea Heat Pump Market is projected to grow at a CAGR of 42.06% during the forecast period of 2024 to 2032.
The Units < 20KW segment is expected to dominate the South Korea Heat Pump Market, holding a largest market share of 1.51 USD Billion in 2024
South Korea Heat Pump Market Scope
South Korea Heat Pump Market Segmentation & Scope
Category
- Exhaust Air
- Reversible Others
- Sanitary Hot Water
- H-Ground/Water
- H-Air/Water
- Reversible Air-Air W/Heating
Energy Source
- Ground Source
- Air/Air
- Air/Water
Type
- Ductless
- Ducted
Sector
- Industrial
- Commercial
- Residential
Capacity
- Units > 20 KW
- Units < 20KW
Frequently Asked Questions
The South Korea Heat Pump Market is segmented based on Segmentation Category,Energy Source,Type,Sector,Capacity.
South Korea Heat Pump Market was valued at USD 2.31(Revenue in USD Billion) in 2019.
South Korea Heat Pump Market is projected to grow at a CAGR of 42.06% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Heat Pump Market for final year is USD 11.89 (USD Billion).
South Korea Heat Pump Market Company Profiling
Frequently Asked Questions
The South Korea Heat Pump Market is segmented based on Segmentation Category,Energy Source,Type,Sector,Capacity.
South Korea Heat Pump Market was valued at USD 2.31(Revenue in USD Billion) in 2019.
South Korea Heat Pump Market is projected to grow at a CAGR of 42.06% during the forecast period of 2024 to 2032.
The estimated market value of the South Korea Heat Pump Market for final year is USD 11.89 (USD Billion).
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