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 P&S Intelligence to be $3.9 billion and the CAGR during the forecast period (2019–2024) to be 7.0%. 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.
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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.
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.
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This market research report provides a comprehensive overview of the India HVAC market
- Historical and the present size of the India HVAC market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential