Construction Sector Offering Indian HVAC Market Immense Growth

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The India HVAC market is growing due to infrastructural development, technological advancements, and expanding tourism sector.

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India HVAC Market

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2 Global India HVAC Market © PS Intelligence. All rights reserved The India HVAC market is growing due to infrastructural development technological advancements and expanding tourism sector. The value of the domain in 2018 was estimated by PS Intelligence to be 3.9 billion and the CAGR during the forecast period 2019–2024 to be 7.0. The term ‘HVAC’ short for heating ventilation and air conditioning refers to electrical equipment used in either just one or all these applications simultaneously. Apart from heating or cooling these systems also take away the contaminants and odor filling the room with fresh air from outside. Among the types of systems used i.e. heating ventilation and cooling cooling systems were the largest category in 2018 both in terms of the total units sold and revenue generated. The primary reasons for the dominance of cooling systems in the HVAC market of India have been the hot weather conditions in most parts of the country and the growth of small and medium enterprises SMEs and commercial hubs. Further among the northern southern western and eastern regions the northern region contributed over 30.0 revenue to the market in 2018. Now the heating category of the Indian HVAC market is divided into furnaces boilers heat pumps and unitary heaters among which the boilers category held 17.6 revenue share in the market in 2018. Apart from housing and commercial spaces the growing population is also raising the demand for public infrastructure. In 2017 the government announced its intention to construct 100 airports by 2032. Further it pledged 57 million in the 2019 Interim Budget for the expansion of Delhi Metro in Ghaziabad and Noida. Thus the rapid infrastructural development is expected to bode well for the HVAC market in India as all airports and metro stations and tunnels extensively use such systems. The market players have already taken stock of the situation and started launching new HVAC systems. Apart from product launches advancements in technology is another key trend being witnessed in the Indian HVAC market. Thus it is clear that HVAC system manufacturers stand to be benefited by the developments in the infrastructure and real estate sectors.

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3 Global India HVAC Market © PS Intelligence. All rights reserved Kindly write to: enquirypsmarketresearch.com B-13 Sector – 2 Noida U.P. – 201301 INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 Disclaimer: PS Intelligence always keeps customers interest at the core while carrying out research activities. PS Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However the information in publications is subject to fluctuations as they are based on primary interviews of officials from various companies or organizations. PS Intelligence is not responsible for any incorrect data provided to us by the key industry players of the concerned domain. The information or analysis in PS Intelligence publications represents opinion based on research and should not be interpreted as statements of fact. The information in this report were believed to be correct at the time of publication but cannot be guaranteed. PS Intelligence does not endorse any product service or vendor depicted in its research publications. All intellectual property including trademarks and copyrights belong to their respective owners and may be protected by copyright. Under no circumstance may these be reproduced in any form without the prior written agreement of its owner. An order for market research report is intended for internal use of the company alone and not for disclosure to third parties or any publication in general. No service report or part thereof provided by PS Intelligence can be reproduced republished resold revealed distributed circulated or sublicensed in any medium or form now realized or hereafter become realized including and not limited to all forms of optical-based media magnetic electronic or digital without a written permission from PS Intelligence.

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