In 2018, South Korea recorded its hottest summer since 1973, with 31 heat-wave days. Heatwaves with maximum temperatures above 33 degrees Celsius usually occur after the rainy season in summer. In recent years, not only has the frequency of heatwaves increased, but also their intensity. Summer in South Korea Summer in South Korea (from June to August) is usually hot and humid with a lot of rainfall during the rainy season of the East Asian monsoon (Changma). About 60 percent of precipitation falls during this season. The average temperature in summer was around 24.7 degrees Celsius in 2023. The amount of precipitation in summer that year stood at over 1,000 millimeters, more than four times higher than in winter. Climate change South Korea is known for its four distinct seasons, yet weather patterns have increasingly changed in recent decades, resulting in longer summers and shorter winters. This shows that South Korea is not excluded from the effects of climate change. Changing climate patterns in recent decades have also led to an intensification of precipitation and more heat waves in South Korea. Meanwhile, climate change is taken very seriously by South Koreans: about 48 percent of respondents to a 2019 survey said that global warming or climate change is the most important environmental issue for South Korea.

In 2024, South Korea recorded **** heat wave days, a significant increase from the previous year. The highest number of heat wave days was recorded in 2018, peaking at ** days, marking a decade high.

Heat: Consumption: Public data was reported at 3.000 TOE th in Apr 2018. This records a decrease from the previous number of 4.000 TOE th for Mar 2018. Heat: Consumption: Public data is updated monthly, averaging 2.000 TOE th from Jan 1997 (Median) to Apr 2018, with 256 observations. The data reached an all-time high of 9.000 TOE th in Dec 2014 and a record low of 0.000 TOE th in Oct 2001. Heat: Consumption: Public data remains active status in CEIC and is reported by Korea Energy Economics Institute. The data is categorized under Global Database’s Korea – Table KR.RB001: Energy Production and Consumption.

Korea Heat: Consumption: Residential or Commercial data was reported at 151.000 TOE th in Apr 2018. This records a decrease from the previous number of 214.000 TOE th for Mar 2018. Korea Heat: Consumption: Residential or Commercial data is updated monthly, averaging 85.000 TOE th from Jan 1997 (Median) to Apr 2018, with 256 observations. The data reached an all-time high of 390.000 TOE th in Jan 2018 and a record low of 10.000 TOE th in Aug 1997. Korea Heat: Consumption: Residential or Commercial data remains active status in CEIC and is reported by Korea Energy Economics Institute. The data is categorized under Global Database’s Korea – Table KR.RB001: Energy Production and Consumption.

South Korea Energy Consumption: Residential: Heat data was reported at 43.000 TOE th in Sep 2024. This records an increase from the previous number of 37.000 TOE th for Aug 2024. South Korea Energy Consumption: Residential: Heat data is updated monthly, averaging 95.000 TOE th from Jan 1997 (Median) to Sep 2024, with 333 observations. The data reached an all-time high of 479.000 TOE th in Jan 2021 and a record low of 10.000 TOE th in Aug 2001. South Korea Energy Consumption: Residential: Heat data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.RB001: Energy Production and Consumption.

The daily minimum temperature record and the monthly heat sales record

In 2024, the average maximum temperature in South Korea reached **** degrees Celsius, slightly higher than the previous year. The annual average maximum temperature in South Korea has risen steadily over the measured period. Temperature trends by season South Korea has four seasons, each characterized by its own distinctive temperature trends. The average summer temperature recorded in South Korea has ranged from ** to ** degrees Celsius. Although average temperatures generally indicate moderate warmth, 31 heat-wave days were recorded in 2018 alone, far above the average value. Conversely, winter in South Korea is the coldest and driest season, with an average temperature of about *** degrees Celsius in 2023. Climate change and response Climate change has impacted South Korea. Despite the minor ups and downs in temperature, the annual average temperature has moved gradually upward, showing a difference of more than *** degree Celsius from 2023 to 1973. Additionally, the number of heatwave days has increased substantially compared to previous decades. This has not gone unnoticed, as most legislative members of the National Assembly have identified addressing the enactment and revision of policies as a priority in responding to the climate crisis.

Heating Degree Days data was reported at 4,652.050 Degrees Celsius in 2020. This records an increase from the previous number of 4,555.900 Degrees Celsius for 2019. Heating Degree Days data is updated yearly, averaging 5,124.120 Degrees Celsius from Dec 1970 (Median) to 2020, with 51 observations. The data reached an all-time high of 5,701.040 Degrees Celsius in 1981 and a record low of 4,460.450 Degrees Celsius in 2015. Heating Degree Days data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Environmental: Climate Risk. A heating degree day (HDD) is a measurement designed to track energy use. It is the number of degrees that a day's average temperature is below 18°C (65°F). Daily degree days are accumulated to obtain annual values.;World Bank, Climate Change Knowledge Portal. https://climateknowledgeportal.worldbank.org;;

3452 Global import shipment records of Heat Exchange with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

In the summer of 2020, around ** percent of patients brought into the emergency room with heat-related complications in South Korea was diagnosed with heat exhaustion. This made it the most common type of heat-related disease recorded in the country that year, followed by heat stroke and heat cramps.

Distribution of weather and death descriptions in the past and in recent times of summer.

South Korea Energy Consumption: Heat data was reported at 6.000 TOE th in Sep 2024. This stayed constant from the previous number of 6.000 TOE th for Aug 2024. South Korea Energy Consumption: Heat data is updated monthly, averaging 4.000 TOE th from Jan 1997 (Median) to Sep 2024, with 333 observations. The data reached an all-time high of 13.000 TOE th in Mar 2017 and a record low of 0.000 TOE th in May 1999. South Korea Energy Consumption: Heat data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.RB001: Energy Production and Consumption.

Impacts of high air temperature of summer in Korea.

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Air Source Heat Pump Market Size 2025-2029

The air source heat pump market size is forecast to increase by USD 62.18 billion at a CAGR of 11.7% between 2024 and 2029.

The Air Source Heat Pump (ASHP) market is experiencing significant growth, driven by escalating environmental concerns and the integration of advanced technologies such as smart technology and IoT features. These systems offer energy efficiency and reduced carbon emissions, aligning with global efforts to mitigate climate change. However, the high initial investment costs represent a substantial challenge for market expansion. Regulatory hurdles, including complex approval processes and varying standards across regions, also impact adoption. The market is witnessing significant growth due to the increasing demand for energy-efficient HVAC solutions in various sectors, particularly in the construction industry.
To capitalize on the market's potential, companies must focus on cost reduction strategies, collaborative partnerships, and the development of standardized regulations. By addressing these challenges and continuing to innovate, ASHP manufacturers can seize opportunities in the growing demand for sustainable heating solutions.

What will be the Size of the Air Source Heat Pump Market during the forecast period?

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The market is experiencing significant growth, driven by the increasing adoption of green building standards and the integration of renewable energy sources into HVAC design. Building automation and HVAC optimization are key trends, with demand response, energy management, and maintenance scheduling playing crucial roles in enhancing energy efficiency. Predictive maintenance, smart controls, and hybrid systems are transforming HVAC operations, while passive heating and performance optimization are essential for reducing carbon emissions. HVAC modeling, system upgrades, and energy efficiency standards continue to shape the market, with solar thermal, connected devices, remote monitoring, and remote diagnostics also gaining traction.
Inverter technology is a significant factor in improving efficiency and integrating renewable energy sources, making it a vital component of the evolving HVAC landscape.

How is this Air Source Heat Pump Industry segmented?

The air source heat pump industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Air-to-water
  Air-to-air


Application

  Residential
  Industrial
  Commercial


Type

  Ductless
  Ducted
  Short run ducted


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Product Insights

The air-to-water segment is estimated to witness significant growth during the forecast period. In the evolving global market for air source heat pumps in 2024, the air-to-water segment is experiencing significant growth. This trend is fueled by the growing emphasis on environmental sustainability and energy efficiency in heating solutions. Air-to-water heat pumps offer the advantage of providing both space heating and hot water, while consuming less energy than traditional systems. Their versatility in various climates and cost-effectiveness make them a popular choice for both residential and commercial applications. Furthermore, government incentives and regulatory policies encouraging the adoption of clean energy technologies are accelerating the market's expansion. Energy efficiency, thermal comfort, and indoor air quality are key considerations in the design and implementation of these systems.

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The Air-to-water segment was valued at USD 35.7 billion in 2019 and showed a gradual increase during the forecast period. R-410a refrigerant, air filtration, and humidity control are essential features that contribute to the overall performance and energy savings. Building codes and load calculations are crucial factors in system design, while HSPF rating, seer rating, and energy performance are essential metrics for evaluating system efficiency. Data analytics and performance monitoring are essential for optimizing energy usage and reducing operating costs. Geothermal heat pumps, heat recovery, and ductless systems are alternative technologies that complement the market. Renewable energy integration and smart home technology are emerging trends that are expected to further drive market growth. These are increasingly being adopted due to their energy efficiency and ability to reduce greenhouse gas emissions, aligning with the region's focus on renewable energy and sustainability.

Regional Analysis

North America is estimated to contribute 40% to the growth

South Korea Energy Consumption: Commercial & Public: Heat data was reported at 39.000 TOE th in Sep 2024. This records a decrease from the previous number of 57.000 TOE th for Aug 2024. South Korea Energy Consumption: Commercial & Public: Heat data is updated monthly, averaging 16.000 TOE th from Jan 1997 (Median) to Sep 2024, with 333 observations. The data reached an all-time high of 101.000 TOE th in Feb 2018 and a record low of 1.000 TOE th in Aug 1999. South Korea Energy Consumption: Commercial & Public: Heat data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.RB001: Energy Production and Consumption.

42336 Global import shipment records of Ceramic,heat,sink with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

The bioliquid heat and power generation market is estimated to be valued at US$ 2.7 billion in 2024. The bioliquid heat and power generation is predicted to rise at a CAGR of 8.2% from 2024 to 2034. The global bioliquid heat and power generation market is anticipated to reach US$ 6 billion by 2034.

Attributes	Key Insights
Estimated Market Size in 2024	US$ 2.7 billion
Projected Market Value in 2034	US$ 6 billion
CAGR from 2024 to 2034	8.2%

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

Historical CAGR from 2019 to 2023	10.3%
Forecast CAGR from 2024 to 2034	8.2%

Country-wise Analysis

Countries	Forecast CAGRs from 2024 to 2034
The United States	8.5%
The United Kingdom	9.7%
China	9.0%
Japan	9.5%
South Korea	4.9%

Category-wise Insights

Category	CAGR from 2024 to 2034
Bioethanol	7.9%
Heat Production	7.7%

Report Scope

Attributes	Details
Estimated Market Size in 2024	US$ 2.7 billion
Projected Market Valuation in 2034	US$ 6 billion
Value-based CAGR 2024 to 2034	8.2%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in US$ billion
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia Middle East and Africa
Key Market Segments Covered	Type Application Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	Encontech Argent Energy Munzer Bioindustrie Betarenewables Ensyn Fuels Bunge Biox MBP Group REG Power Management Neste REG Kraton BTG Olleco Archer Daniels Midland Company Cargill Inc.

1334 Global export shipment records of Resistance Heating Wires with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

158 Global export shipment records of Heating Mat with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

South Korea Energy Production: Heat data was reported at 6.000 TOE th in Sep 2024. This stayed constant from the previous number of 6.000 TOE th for Aug 2024. South Korea Energy Production: Heat data is updated monthly, averaging 4.000 TOE th from Jan 1997 (Median) to Sep 2024, with 333 observations. The data reached an all-time high of 13.000 TOE th in Mar 2017 and a record low of 0.000 TOE th in May 1999. South Korea Energy Production: Heat data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.RB001: Energy Production and Consumption.