India is witnessing an expansion of residential construction sector, on account of improvement in real-estate regulations, increment in government-initiated residential plans, and escalation in urbanization rate. According to Invest India, by 2050, the Indian construction sector will hold the third position, globally. The newly constructed housing units are installing umpteen number of ACs, ventilation systems, and heat pumps. Owing to these reasons, the Indian HVAC market will grow at 16.0% CAGR during 2020–2030. The market stood at $8,526.7 million in 2019, which is projected to reach $31,598.6 million by 2030.

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Climate Change Amplifies HVAC
Equipment Requirement in India

2. India is increasingly adopting cooling equipment, such as room air conditioners
(ACs), chillers, variable refrigerant flow (VRF) systems, split units, and ducted
split/packaged units, owing to the subtropical climate of the nation. For example,
southern region of the country observe hot and humid conditions for most part of
the year, and varying climatic conditions are observed in northern region.
Additionally, the rapid urbanization in India has resulted in surging disposable
income of people, which has enabled the Indians to spend freely on heating,
ventilation, and air conditioning (HVAC) equipment.
Currently, India is witnessing an expansion of residential construction sector, on
account of improvement in real-estate regulations, increment in government-
initiated residential plans, and escalation in urbanization rate. According to Invest
India, by 2050, the Indian construction sector will hold the third position, globally.
The newly constructed housing units are installing umpteen number of ACs,
ventilation systems, and heat pumps. Owing to these reasons, the Indian
HVAC market will grow at 16.0% CAGR during 2020–2030. The
market stood at $8,526.7 million in 2019, which is projected to reach $31,598.6
million by 2030.
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Apart from housing units, commercial facilities like shopping malls, office
complexes, hotels, hospitals, supermarkets/hypermarkets, metro stations, and
railway stations are also incorporating HVAC systems to offer better environment
to their employees and customers. The housing and commercial units are
deploying heating equipment like air-source, ground-source, and water-source
heat pumps; gasoline, propane and electric furnaces; fire-tube and water-tube
boilers; and unitary heaters. Additionally, Indian offices and shopping malls are
also switching to ventilation equipment such as ventilation fans, air-handling and
fan-coil units, air cleaners, and humidifiers and dehumidifiers.
In recent years, customers have shifted their focus on adopting energy-efficient
HVAC systems, due to escalating environmental concerns in India. Such HVAC
equipment uses less electricity and fuel and offers the same or higher efficiency
than conventional systems. Additionally, amplifying focus of the Indian
government toward environment-friendly equipment and appliances will fuel the
incorporation of such solutions. For instance, the government, in 2018, launched a
new Energy Conservation Building Code (ECBC), ECO Niwas Samhita, for
residential units. This initiative aspires to reduce the yearly electricity consumption
by 125 billion units by 2030.
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3. Geographically, North India installs the largest quantity of HVAC equipment, due to
the varying climatic conditions in this part of the country. While Ladakh, Jammu
and Kashmir, Himachal Pradesh, and Uttarakhand have long and freezing winters,
Punjab, Delhi, Madhya Pradesh, Haryana, Rajasthan, and Uttar Pradesh experience
hot climate. This has led to the widescale adoption of heating and cooling
equipment in this region. Further, the increasing purchasing power of North Indians
is helping them to buy a variety of HVAC equipment.
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According to P&S Intelligence, the West Indian HVAC market will grow at the
fastest pace in the coming years. This can be ascribed to the presence of key
manufacturing hubs in the region, especially in Pune, Ahmedabad, Nagpur, and
Mumbai. These major cities along with tier-II cities of West India host a number of
pharmaceutical and automotive manufacturing plants. These end-use industries
require a large number of HVAC equipment for meeting the compliance standards
and providing a comfortable working ecosystem.
With the altering climatic conditions, the requirement for HVAC equipment will
escalate in India in the foreseeable future.
Market Size Breakdown by Segment Market Segmentation by Offering
Equipment
o Heating
 Heat pump
 Air-source
 Water-source
 Ground-source
 Furnace
 Gasoline
 Propane
 Electric
 Boiler
 Water-tube
 Fire-tube
 Unitary heater
o Ventilation
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4.  Ventilation fan
 Centrifugal fan
 Axial fan
 Domestic exhaust fan
 Power roof fan
 Air handling unit and fan coil unit
 Air handling unit
 Terminal units
 Makeup air units
 Rooftop units
 Fan Coil Units
 Two-pipe
 Four-pipe
 Humidifier/dehumidifier
 Air cleaner
 Type 1: HEPA + Carbon
 Type 2: HEPA + Carbon + Ionizer
 Type 3: HEPA + Carbon + ultraviolet (UV)
 Type 4: HEPA + Carbon + Ionizer+ UV
 Type 5: Other Technologies
o Cooling
 Room AC
 Mini split
 Window AC
 Split unit
 Ducted split/packaged unit
 Packaged unit with water-cooled condenser
 Packaged unit with air-cooled condenser
 Variable refrigerant flow (VRF)
 Heat pump system
 Heat recovery system
 Chiller
 Centrifugal
 Screw
 Scroll
 Absorption
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5.  Reciprocating
 Service
o Upgradation/replacement
o Maintenance and repair
o Installation
o Consulting
Market Segmentation by End-User
 Commercial
o Office and building
o Hospitality
o Transportation
o Supermarket/hypermarket
o Healthcare
o Government
o Others (include educational institutions, cold storage facilities,
data centers, banks, department stores, convenience stores, and
stadiums)
 Industrial
o Food and beverage
o Oil and gas
o Automotive
o Energy and utilities
o Others (include electronics, textile, pharmaceutical,
manufacturing, glass, pulp and paper, shipbuilding, machinery,
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steel, cosmetics, rubber, tobacco, nuclear, toy,
ammunition, and chemical and cement industries)
Residential
Market Segmentation by Region
South India
West India
North India
East India
arms and

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