The India HVAC Industry has garnered $7,820.5 million revenue in 2021, and it is projected to rise at a rate of 15.8% from 2021 to 2030, to generate $29,282.7 million in 2030. It is attributed to advanced infrastructure development, growing tourism activities, and technological advancements across the country.
In addition, the burgeoning disposable income and numerous government initiatives propel the appliances energy efficiency, resulting in industry growth.
Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/india-hvac-market/report-sample
Government campaigns, including Digital India, and Athithi Devo Bhava, increase the footfall of tourists. It thus, results into expansion of tourism and hospitality sector.
Moreover, global players are establishing factories in India, to meet the requirement of local population, and thus propels the industry growth. In addition, the burgeoning middle-class population and growing ventilation requirements fuel such systems sale.
Equipment category holds the substantial industry share, led by burgeoning demand in residential sector. It is due to extreme climate of the country, that results into freezing winters, and scorching summers.
Under the equipment segment, the cooling category captures the significant share, of over 80%, ascribed to subtropical climate in major parts of the country. The extreme heat during summers in norther region, rising humidity levels in southern and western parts of the country, and surging disposable income fuels the industry growth.
Moreover, rising number of SMEs, commercial hubs, and government projects, include Smart Cities Mission, fuel the demand for product.
Under end user, the commercial category has generated largest revenue share, of 52.1%, and it is projected to rise significantly in the coming years. It is ascribed to rising number of corporate offices and shopping complexes in the country. The rising number of high-rise buildings, malls, shopping complexes, and hypermarkets, in tier-II cities propels the industry growth.
The duration of summer is typically eight to nine months in the norther region, including two months of extreme humidity, that fuels the air conditioning systems demand. Additionally, the expansion of the construction sector, with road development propels residential and hospitality construction.
Similarly, airport sectors, ports, and railways are experiencing massive development and renovation. It thus, fuels the India based HVAC industry.
Presently, there is shifting focus on HVAC systems. The rising number of buyers adopt smart HVAC systems, to provide building automation, better controls, IoT based controls, and real-time performance monitoring.
Browse full report at: https://www.psmarketresearch.com/market-analysis/india-hvac-market
Over the few years, the construction sector has risen considerably. It is ascribed to quick urbanization, advent of real estate regulatory reforms, and large-scale government projects. Over the years, the government initiatives to develop smart cities drive the construction activities. It thus, fuels the demand for HVAC systems.
Therefore, the expansion of construction sector fuels the India based HVAC Industry.
Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: https://www.linkedin.com/company/pnsintelligence/
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
This release was published on openPR.
