South Korea Chiller Market Insight
Published: 29 June 2026 | Report Format: Electronic (PDF) | Author: Govind and Krishna
The South Korean chiller market is projected to increase at a compound annual growth rate of 4.95% from 2026 to 2035, driven by construction of data centers and industrial growth.
South Korea Chiller Market Insights Forecasts to 2035
- The South Korea Chiller Market Size Was Estimated USD 500.3 Million in 2025
- The Market Size is Expected to Grow at a CAGR of around 4.95% from 2025 to 2035
- The South Korea Chiller Market Size is Expected to rise around USD 810.7 Million by 2035
Notable Insights for the South Korea Chiller Market
- Based on cooling type segmentation, air-cooled chillers are more popular in smaller commercial spaces, although water-cooled chillers have a 58% market share because of their efficiency.
- Based on end-user segmentation, commercial sectors like hotels and offices also contribute significantly to demand, but industrial applications like manufacturing and chemicals lead.
- Minimum Energy Performance Standards (MEPS) and KC safety certification are mandated by MOTIE government directives for all chillers marketed in South Korea, encouraging environmentally friendly alternatives.
- With the government offering $250 million in trade insurance to support the industry as a major export engine, cooling equipment exports reached $2.6 billion in 2024.
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Why Buy This Report
- Provides thorough information on market valuation, important factors like the expansion of AI data centers, and regulatory frameworks to support strategic decisions.
- Aids in the identification of high-growth markets by thoroughly analyzing various product types, including as absorption, centrifugal, screw, and scroll chillers.
- Allows for the efficient targeting of profitable end-use industries, such as commercial and industrial applications for strategic planning.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the South Korea Chiller Market, along with a comparative evaluation primarily based on their product of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
Top Companies in South Korea Chiller Market
- LG Electronics Inc.
- Samsung Heavy Industries (Samjung Tech)
- Carrier Korea
- Trane Korea
- Johnson Controls (York)
- Dunan
- LS Electric
- Dayou O.S.C.
- Shinil Engineering
- Hanmi Air Conditioning
Recent Developments:
- In July 2025, LG declared its intention to reach 1 trillion won ($736 million) in chiller sales within two years and to commercialize liquid cooling solutions within the year.
- In December 2024, in order to support the government's objective to increase cooling equipment exports as a new AI-driven export engine, LG Electronics worked with MOTIE at its Pyeongtaek factory.
Market Segmentation:
South Korea Chiller Market, By Cooling Type
- Water-Cooled Chiller
- Air-Cooled Chiller
South Korea Chiller Market, By Compressor Type
- Screw Chiller
- Scroll Chiller
- Centrifugal Chiller
- Absorption Chiller
South Korea Chiller Market, By End-User
- Industrial
- Commercial
Expert Views:
Growth in the South Korean chiller market will remain stable, backed by growing industry presence, swift growth of AI-enabled data centers, and rising demand for efficient cooling systems. Growth in energy efficiency standards and sustainability will lead to faster adoption of new technologies. Investments in improved cooling solutions, export-led manufacturing, and business infrastructure will boost competitiveness and create growth prospects through 2035.
Author: Govind and Krishna By Decisions Advisors and Consulting