South Korea Air Conditioner (AC) Market (2021-2027) | Size, Share, Revenue, Analysis, Forecast, Trends, Growth, industry, Outlook & COVID-19 IMPACT

South Korea Air Conditioner (AC) Market is projected to grow over the coming years. South Korea Air Conditioner (AC) Market report is a part of our periodical regional publication Asia Pacific Air Conditioner (AC) Market outlook report. 6W tracks the air conditioner market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Air Conditioner (AC) Market outlook report annually.

Latest 2023 Development of the South Korea air conditioner market

The South Korea air conditioner market is growing as the South Korean government has been promoting energy-saving and eco-friendly technologies in various sectors, including the air conditioning industry, to reduce greenhouse gas emissions and mitigate climate change. Additionally, in response to the government's initiatives, South Korean air conditioner manufacturers have been introducing advanced technologies and innovative features in their products to make them more energy-efficient and environmentally friendly. For instance, some companies have been using inverter technology, which adjusts the compressor speed to match the cooling needs of the room, resulting in reduced energy consumption and lower electricity bills. Moreover, there has been an increasing demand for smart air conditioning systems that can be controlled remotely through mobile devices. This trend has led to the development of IoT-enabled air conditioning systems that can be integrated with smart home systems and provide more personalized and efficient cooling solutions.

The South Korea air conditioner industry has been witnessing intense competition among domestic and international players. To gain a competitive edge, companies have been focusing on product differentiation, expanding their distribution networks, and enhancing their after-sales services. With rising energy costs and increasing awareness of environmental issues, consumers in South Korea are increasingly seeking out energy-efficient air conditioners. As a result, manufacturers are focusing on developing more energy-efficient models to meet this demand. Additionally, there is a growing trend towards smart air conditioners that can be controlled using smartphones and other devices. These air conditioners often come with features such as voice control, remote monitoring, and energy-saving settings. Further, portable air conditioners are becoming increasingly popular in South Korea, particularly in apartments and other small living spaces where traditional air conditioning units may not be practical.

South Korea Air Conditioner (AC) Market Synopsis

South Korea Air Conditioner (AC) Market is likely to gain momentum during the upcoming period owing to the increasing penetration towards energy-efficient resources. South Korea being a technologically advanced country further beholds the growth of the automatic air conditioner market. Moreover, continuous urbanization is expected to add to the growth of the market. Increasing adoption of smart appliances would further expect to drive the growth of smartphone-operated air conditioners.

According to 6Wresearch, South Korea Air Conditioner (AC) Market size is projected to grow at a CAGR of 2.9% during 2021-2027. South Korea occupies the 6th position in terms of the market size in the APAC Air Conditioner Market. Improvement in housing standards backed by the increasing income of the consumer is fueling the growth of the market. Moreover, the unfavourable climatic conditions along with rising temperatures further behold the increasing growth of the air conditioner market in South Korea. However, the market suffered a major decline due to the outbreak of COVID-19 leading to the shutting down of manufacturing and retail units. The nationwide lockdown led to a disruption in the supply chain of the Air conditioner market.  

Market Analysis by Types

In terms of market by types, Centralized Air Conditioner dominates the market and is expected to remain in a dominant position in the coming years with the fastest growth rate among all types.

Market Analysis by Application

In terms of application, Residential dominates the market and is expected to remain in a dominant position in the coming years. However, Commercial & Retail is expected to have the fastest growth rate among all applications.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2017 to 2020.
• Base Year: 2020
• Forecast Data until 2027.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• South Korea Air Conditioner Market Outlook
• Market Size of South Korea Air Conditioner Market, 2020
• Forecast of South Korea Air Conditioner Market, 2027
• Historical Data and Forecast of South Korea Air Conditioner Revenues & Volume for the Period 2017 - 2027
• South Korea Air Conditioner Market Trend Evolution
• South Korea Air Conditioner Market Drivers and Challenges
• South Korea Air Conditioner Price Trends
• South Korea Air Conditioner Porter's Five Forces
• South Korea Air Conditioner Industry Life Cycle
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Type for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Room Air Conditioner for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Ducted Air Conditioner for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Ductless Air Conditioner for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Centralized Air Conditioner for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Application for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Residential for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Healthcare for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Commercial & Retail for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Transportation & Infrastructure for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Hospitality for the Period 2017 - 2027
• Historical Data and Forecast of South Korea Air Conditioner Market Revenues & Volume By Others for the Period 2017 - 2027
• South Korea Air Conditioner Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• South Korea Air Conditioner Top Companies Market Share
• South Korea Air Conditioner Competitive Benchmarking By Technical and Operational Parameters
• South Korea Air Conditioner Company Profiles
• South Korea Air Conditioner Key Strategic Recommendations

Market Segmentation:

The report provides a detailed analysis of the following market segments:

By Types:

• Room Air Conditioner
• Ducted Air Conditioner
• Ductless Air Conditioner
• Centralized Air Conditioner

By Application:

• Residential
• Commercial & Retail
• Healthcare
• Hospitality
• Transportation & Infrastructure
• Others