India's HVAC Systems Market to Experience Notable Growth, Driven by Technological Advancements and Rising Demand for Inverter and Smart Systems

Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "HVAC Systems Market in India 2024-2028" report has been added to's offering.

The latest comprehensive industry analysis highlights a significant acceleration in India's HVAC (Heating, Ventilation, and Air Conditioning) market. Between 2023-2028, the market is projected to grow by USD 3.98 billion, with a robust Compound Annual Growth Rate (CAGR) of 10.77%. This undoubtedly signals a period of lucrative opportunities for industry stakeholders and contributes to the country's expanding HVAC landscape.

Growth Influencers and Market Segmentation

The report identifies key growth drivers bolstering the market, notably the surging demand for inverter-based HVAC systems, increased space absorption in office sectors, and a growing inclination towards rental HVAC services. The following segments provide a framework for the analysis:

  • By Application
    1. Non-residential
    2. Residential
  • By Type
    1. Centralized
    2. Decentralized
  • By Installation Sites
    1. New installation
    2. Retrofit

Focusing on Technological Innovation and Environmental Sustainability

A remarkable factor expected to play a critical role in market advancement is the soaring popularity of smart HVAC systems. Propelled by technological innovation, these sophisticated systems promise enhanced efficiency, remote accessibility, and better energy management. Additionally, the sector is witnessing a conscientious move towards improved Indoor Air Quality (IAQ) in living and work spaces, alongside the adoption of eco-friendlier low-global warming potential (GWP) refrigerants.

Vigorous Vendor Landscape and Key Insights

The industry analysis encompasses a rigorous examination of dominant market players, encompassing both international and domestic entities. These vendors are increasingly focused on refining their market positioning through strategic and innovative undertakings. The extensively researched report offers insights into the key influencers within the market and outlines the competitive scenario.

Strategic Forecasting for Market Stakeholders

The diligent study, a synthesis of primary and secondary data sources, provides stakeholders with a detailed outlook on the market. The predictions encapsulate pricing strategies, competitive analysis, promotional dynamics, and other crucial market aspects. These insights arm businesses with the knowledge to capitalize on growth prospects effectively. With such an in-depth and reliable analysis, industry players have access to vital market data and trends, informing strategies that can harness the forecasted market growth in India's dynamic HVAC systems landscape.

Explore In-Depth Industry Dynamics and Projections

The report fulfills an essential need for comprehensive data and trend analysis in India's burgeoning HVAC market. It presents a multifaceted view by identifying key influencers and offering detailed market insights. Businesses, investors, and other interested parties are thus equipped with the necessary tools to navigate the landscape effectively and leverage upcoming opportunities within this rapidly evolving market sector.

A selection of companies mentioned in this report includes

  • Air Control India Pvt Ltd
  • Blue Star Ltd.
  • Daikin Industries Ltd.
  • Fujitsu General Ltd.
  • Godrej and Boyce Manufacturing Co. Ltd.
  • Haier Smart Home Co. Ltd.
  • Havells India Ltd.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • IFB Industries Ltd.
  • Ingersoll Rand Inc.
  • Johnson Controls International Plc
  • LG Electronics Inc.
  • Mitsubishi Electric Corp.
  • Panasonic Holdings Corp.
  • Samsung Electronics Co. Ltd.
  • Toshiba Corp.
  • Trane Technologies Plc
  • Voltas Ltd.
  • Whirlpool Corp.

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