Korea Refrigeration Compressor Market to Hit USD 2730.23 million by 2035— Steady Growth Driven by Urbanization, Food Industry Expansion, and Eco-Friendly Tech Across South Korea

The Korea refrigeration compressor market is poised for consistent expansion through 2035, fueled by rising urbanization, booming food and beverage sectors, and a shift toward energy-efficient, low-GWP technologies. According to Future Market Insights (FMI), the market is valued at USD 2,239.7 million in 2025 and is projected to reach USD 2,730.2 million by 2035, growing at a compound annual growth rate (CAGR) of 2.0%.

The FMI report, “Refrigeration Compressor Industry Analysis in Korea: Market Outlook 2025–2035,” highlights that revenues will increase by approximately USD 490.5 million over the decade, driven by demand in commercial refrigeration, technological advancements, and export opportunities.

A Decade of Steady Growth Anchored by Sustainability and Technological Shifts:

From 2025 to 2030, the market is expected to grow by around USD 230 million, supported by advancements in energy-efficient compressors and the expansion of food processing, convenience stores, and restaurants. Between 2030 and 2035, FMI anticipates an additional USD 260.5 million in growth, as IoT-enabled systems, AI-optimized energy use, and predictive maintenance become mainstream.

“Energy efficiency and environmental compliance are reshaping the Korean refrigeration compressor landscape,” said Nikhil Kaitwade, FMI Senior Analyst. “With over 70% of stakeholders prioritizing power-saving features, manufacturers are innovating to align with global sustainability standards while boosting exports.”

Korea Refrigeration Compressor Key Market Insights at a Glance:

Metric - Korea Estimate 

Market Value (2025) - USD 2,239.7 million 

Forecast Value (2035) - USD 2,730.2 million 

CAGR - 2.0% 

Top Product - Reciprocating (Dominant share) 

Dominant Application - Commercial (Largest segment) 

Fastest-Growing Trend - Low-GWP Refrigerants (e.g., R290, R600a) 

Korea: A Hub for Refrigeration Innovation Amid Urban and Industrial Growth:

FMI’s in-depth analysis underscores South Korea’s role as a leader in refrigeration technology, with the market rising from USD 2,195.8 million in 2024. Key drivers include residential and commercial air conditioning demand, spurred by improved living standards and urbanization. The food and beverage sector’s expansion has significantly boosted commercial refrigeration needs.

Government regulations, such as KC Certification and the Energy Efficiency Rating System, mandate high standards, prohibiting products below Minimum Energy Performance Standards (MEPS). Over 65% of manufacturers report supply chain challenges, prompting diversification and local procurement strategies.

Five Forces Driving Market Expansion:

 Urbanization and Lifestyle Shifts: Rising disposable incomes fuel demand for air conditioning and refrigeration in homes and businesses. 

Food & Beverage Boom: Growth in processing plants, stores, and restaurants heightens commercial compressor needs. 

Eco-Friendly Transitions: Shift to low-GWP refrigerants like R290 and R600a aligns with global sustainability goals and incentives. 

Technological Advancements: IoT, AI, and predictive maintenance enhance efficiency and reduce downtime. 

Export and Partnerships: Strategic collaborations with international brands expand market reach and competitiveness. 

Market Segment Overview:

By Product Type: Reciprocating compressors lead due to their reliability and precise temperature control, ideal for varied applications. Rotary, scroll, screw, and centrifugal follow. 

By Refrigerant Type: Traditional options like R404A persist, but transitions to greener alternatives (R290, R600a) are accelerating amid environmental concerns. 

By Application: Commercial dominates, driven by food industry growth; residential, medical & healthcare, industrial, and transportation segments contribute steadily. 

By Province: South Gyeongsang, North Jeolla, South Jeolla, and Jeju show regional variations, with urban hubs leading demand. 

Korea Market Regional Overview:

South Gyeongsang: Strong industrial base supports compressor growth in manufacturing. 

North Jeolla: Agricultural and food processing drive refrigeration needs. 

South Jeolla: Similar trends in food and logistics. 

Jeju: Tourism and commercial sectors boost demand. 

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Competitive Landscape:

* LG Electronics (30%) 

* Samsung Electronics (25%) 

* Danfoss Korea (15%) 

* Emerson Electric (Copeland) (10%) 

* Mitsubishi Electric Korea (8%) 

* Others (e.g., Panasonic, Hitachi, Bitzer) (12%) 

LG and Samsung lead with innovative, energy-efficient solutions and strong R&D. Global players like Emerson focus on reliability and eco-friendly tech.

Market Outlook: Cooling the Future Sustainably:

Over the next decade, the Korea refrigeration compressor market will prioritize green innovations and smart systems to meet regulatory and consumer demands. Sectors like food, healthcare, and logistics will remain key dependents, with IoT reducing costs through real-time monitoring.

“South Korea’s market is evolving toward resilience and sustainability,” added Kaitwade. “Firms investing in eco-refrigerants and localized supply chains will thrive in this steady-growth environment.”

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