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Where does Daikin stand in India HVAC market?

India HVAC market

Consumer Goods and Retail | Sep, 2017

Japanese HVAC major Daikin has posted six fold increase in turnover over the past 7 years in India. From Rs 440 crore in 2009-10, the company has come a long way clocking the turnover of over Rs 2,750 crore in 2014-15. Thanks to thriving HVAC market in India, the company is among the many others who are enjoying exponential growth in the country.

Daikin commands 60 per cent market share in variable refrigerant volume (VRV) system – well, that’s another name for commercial air conditioning system. The company contributes 12 per cent to the residential AC market in India.

Meanwhile Daikin has several other pluses to its side. The company has a stable top management, skilled workforce powered by ingenuine Japanese work culture that is known for excellence and innovation.

Enthralled with such a phenomenal growth in India, the company has committed big size investments for setting state of the art Research and Development (R&D) centres across India, Sri Lanka and the Africa region.

How big is India HVAC market?

The India HVAC market is forecasted to surpass USD 7 billion in the next 5 years, as per the market research report released by global research-based consulting major TechSci Research. The company in its report titled “India HVAC Market By Product Type (Direct Expansion Systems and Central Air Conditioning Systems), By End Use Sector (Residential, Commercial Real Estate, Institutional, etc.) Competition Forecast & Opportunities, 2012 – 2022”, the HVAC market in India is growing on the back of focus on infrastructure projects, thriving middle class and expanding hospitality and tourism sectors in the country.