LONDON–(BUSINESS WIRE)–The HVAC systems market in India is poised to grow by USD 2.26 billion during 2020-2024, progressing at a CAGR of almost 10% during the forecast period. Request free sample pages
Read the 120-page report with TOC on “HVAC Systems Market Analysis Report by Product (Split AC, Window AC, and Others), Application (Non-residential and Residential), and the Segment Forecasts, 2020-2024.”
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The market is driven by the growing demand for inverter HVAC systems. In addition, the increasing preference for rental HVAC systems is anticipated to boost the growth of the HVAC systems.
Over recent years, there has been a steady rise in the average temperature in India. In addition, increasing government expenditure on infrastructure projects has increased the adoption of HVAC systems in India. For instance, in 2019, the government of India allocated close to USD 57 million for the expansion of the metro network in Noida and Ghaziabad in Uttar Pradesh. In addition, the growing awareness about energy-efficient products has increased the adoption of inverter-type split ACs across the country. This is encouraging many established players in the country to offer a wide range of inverter split ACs, which is fueling the growth of the HVAC systems market in India.
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Major Five HVAC Systems Market Companies:
Blue Star Ltd.
Blue Star Ltd. operates its business through segments such as Electro-Mechanical Projects and Packaged Air Conditioning Systems, Unitary Products, and Professional Electronics and Industrial Systems. The company offers a wide range of HVAC products such as inverter split AC, fixed split AC, window AC, and portable AC, among others.
Daikin Industries Ltd.
Daikin Industries Ltd. operates its business through segments such as Air Conditioning and Chemicals. The company offers a wide range of HVAC solutions for offices, warehousing, data centers, healthcare applications, and others. Some of its key offerings include split/multi-split type air conditioners, packaged air conditioners for shops and small offices (SkyAir), and multi-split type air conditioners.
ETA General Pvt. Ltd.
ETA General Pvt. Ltd. operates its business through a unified business segment. The company offers a range of HVAC products. Some of its offerings include window ACs, split-cooling ACs, split-hot and cold ACs, inverter-cooling ACs, inverter-hot and cold ACs, cassette-cooling ACs, inverter cassette-hot and cold ACs, ductable ACs, and VRF Systems.
Ingersoll-Rand Plc
Ingersoll-Rand Plc operates its business through segments such as Climate and Industrial. The company offers a wide range of energy-efficient heating, ventilation and air conditioning (HVAC) systems, and dehumidifying and air cleaning products. It also provides service and parts support under its product line, Trane.
LG Electronics Inc.
LG Electronics Inc. operates its business through segments such as Home Appliance and Air Solution, Home Entertainment, Mobile Communications, Vehicle Components, Business-to-Business, LG Innotek Co. Ltd. and its subsidiaries, and Other segments. The company offers a wide range of HVAC products under various categories such as VRF Multi V, single split, multi split, chiller, Therma V, and others.
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HVAC systems Product Outlook (Revenue, USD Billion, 2020-2024)
- Split AC
- Window AC
- Others
HVAC systems Application Outlook (Revenue, USD Billion, 2020-2024)
- Non-residential
- Residential
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