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Report Overview
The South Korea chiller market is projected to grow at a CAGR of 5.10% between 2025 and 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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In February 2024, the Korea Institute of Machinery and Materials (KIMM) developed a large-capacity ultra-low temperature chiller with zero GWP refrigerant.
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South Korea’s frozen food consumption is increasing due to the rising consumer price of vegetables, boosting the demand for chillers for storage.
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Water-cooled and air-cooled types are expected to grow at a CAGR of 5.6% and 4.6% respectively between 2024-2032.
South Korea Chiller Market Share
Based on end-use, the market is mainly divided into food and beverage, chemicals and petrochemicals, medical and pharmaceutical, and plastics. The chemicals and petrochemicals sector holds a dominant position in the market and is expected to grow at a CAGR of 5.4% in the forecast period. Industrial chillers are deployed on a large scale in this sector to reduce extreme heat exposure, protect equipment, minimize production downtime, provide cooling, and facilitate transportation.
| Market Share by | Type of Cooling |
| Water Cooled | 58.0% |
| Air Cooled | XX% |
The need for refrigeration and cooling systems is rapidly growing in other sectors such as food and beverage, medical, and pharmaceutical as well, driving demands for chillers and other alternatives. The food production industry has been increasingly implementing chilling machines due to the rising consumption of frozen and packaged foods. Thus, the food and beverage industry is expected to grow at a CAGR of 5.7% between 2024-2032.
South Korea Chiller Market Report Snapshots
South Korea Chiller Market Size
South Korea Chiller Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The chiller market in South Korea is estimated to grow at a CAGR of 5.10% between 2025 and 2034.
The major drivers include in growing demand for chillers in manufacturing industries and the expansion of existing data centre facilities across the region which will increase the requirement for large air-cooled chillers.
The key trends include the demand for eco-friendly chillers, the emergence of smart inverter chillers, and the demand for energy-efficient cooling equipment.
The end-use sector are, chemicals and petrochemicals, food and beverage, medical and pharmaceutical, and plastics, among others.
The major players in the market are Daikin Industries Ltd., Carrier Global Corp., LG Corp, Daeil Co. Ltd., Trane Technologies Plc, and Mitsubishi Electric Corporation, among others.
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