India HVAC Market to Grow with a CAGR of 14.67% through 2030F
The India HVAC Market is growing due to rising temperatures,
rapid urbanization, government incentives for energy efficiency, increasing
focus on indoor air quality, and demand for smart, energy-efficient, and
renewable energy-driven systems.
According
to TechSci Research report, “India HVAC Market – By Region, Competition, Forecast & Opportunities, 2020-2030F”, the India HVAC Market was valued at USD 11.93 Billion in 2024
and is expected to reach USD 27.12 Billion by 2030 with a CAGR of 14.67% during
the forecast period. The India HVAC (Heating, Ventilation, and Air
Conditioning) market is experiencing significant growth, driven by various
factors such as rising temperatures, rapid urbanization, increasing
construction activities, and government policies promoting energy efficiency.
India’s tropical climate, with hot summers, fuels the demand for cooling
systems, particularly in residential, commercial, and industrial sectors. As
the country continues to urbanize, the need for advanced HVAC systems in newly
built infrastructure, including commercial buildings, shopping malls, and
residential complexes, is rising. Additionally, the growing adoption of green
building standards and energy-efficient technologies is shaping the future of
HVAC in India, further driving market expansion.
Indoor air quality (IAQ) has become a
significant concern in India, particularly in urban areas, where high levels of
air pollution negatively impact health and well-being. As a result, consumers
and businesses are increasingly investing in HVAC systems that incorporate
advanced air filtration and purification technologies. HEPA filters, UV-C
lights, and activated carbon filters are becoming standard features in modern
HVAC systems to improve IAQ by removing pollutants such as dust, allergens, and
harmful gases. The COVID-19 pandemic has also accelerated awareness regarding
air quality, with many organizations and residential consumers focusing on
improving ventilation and reducing airborne transmission of viruses.
The India HVAC market is poised for
robust growth due to factors such as rising temperatures, urbanization,
government policies supporting energy efficiency, increasing demand for clean
indoor air, and technological advancements. As the demand for comfortable and
healthy indoor environments continues to rise, the HVAC industry is evolving
with smarter, more energy-efficient, and sustainable solutions. The adoption of
renewable energy-powered systems and the emphasis on energy-efficient
technologies will further accelerate the market’s growth. However, addressing
challenges such as high initial costs, skilled labor shortages, and energy
infrastructure issues will be crucial for unlocking the full potential of the
HVAC market in India.
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" India HVAC Market”
The India HVAC
Market is segmented into product type, end use, and regional distribution.
Based
on end use, commercial segment is the
fastest-growing segment in the India HVAC market. This growth is driven by the
rapid development of office buildings, shopping malls, hotels, and other
commercial infrastructure, particularly in urban areas. Increased focus on
energy efficiency, comfort, and indoor air quality in these spaces, along with
government regulations promoting sustainable building practices, is fueling
demand. The commercial sector’s need for advanced, large-scale HVAC solutions
that offer better energy management and air purification is contributing
significantly to its rapid expansion, outpacing the residential segment in
terms of growth rate.
Based on region, southern region of India is emerging
as one of the fastest-growing markets for HVAC systems, driven by rapid
urbanization, growing commercial infrastructure, and a rising demand for
energy-efficient solutions. States like Tamil Nadu, Karnataka, Andhra Pradesh,
and Telangana are experiencing significant development, particularly in cities
like Bengaluru, Chennai, and Hyderabad, which are becoming key business and
technology hubs. The region's hot and humid climate creates an increased demand
for effective cooling solutions in both residential and commercial sectors.
Additionally, government incentives promoting green building practices and
energy efficiency further accelerate the growth of the HVAC market in southern
India.
Major companies
operating in India HVAC Market are:
- Blue
Star Ltd.
- Carrier
Airconditioning & Refrigeration Limited
- Daikin
Airconditioning India Pvt. Ltd.
- ETA
Engineering Pvt. Ltd
- Honeywell
Automation India LTD.
- Johnson
Controls-Hitachi Air Conditioning India Limited
- LG
Electronics India Pvt. Ltd.
- Panasonic
India Pvt. Ltd.
- Samsung
India Electronics Pvt. Ltd.
- Voltas
Limited
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“The India HVAC market is driven by
rising temperatures, rapid urbanization, increasing construction activities,
government energy efficiency policies, and a focus on indoor air quality. Key
trends include the adoption of smart HVAC systems, integration of renewable
energy sources, energy-efficient solutions, and growing demand for advanced air
filtration technologies. With urbanization and infrastructure development,
commercial spaces are increasingly incorporating sophisticated HVAC solutions.
The emphasis on sustainability, green building certifications, and
energy-saving technologies also continues to shape the market. As consumers
become more health-conscious, the demand for HVAC systems that improve indoor
air quality is also on the rise.” said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
“India HVAC Market By
Product Type (Direct Expansion Systems, Central Air Conditioning Systems), By
End Use (Residential, Commercial), By Region, Competition, Forecast &
Opportunities, 2020-2030F”, has evaluated the future growth potential of India
HVAC Market and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the India HVAC Market.
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