India HVAC Market, By Offering (Equipment, Services), By End-User (Residential, Commercial, Industrial), By Region (North India, South India, East India, West India), Trend Analysis, Competitive Market Share & Forecast, 2018-2028
Description
India HVAC Market, By Offering (Equipment, Services), By End-User (Residential, Commercial, Industrial), By Region (North India, South India, East India, West India), Trend Analysis, Competitive Market Share & Forecast, 2018-2028
India HVAC Market is Forecast to Grow at a CAGR of 14.80% in the Forecast Period
The India HVAC market is growing at a high CAGR because of the changing lifestyle and increasing disposable income of Indian consumers along with rising construction of residential, commercial, and industrial facilities due to rising private and public investment in infrastructural development…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India HVAC market was worth USD 8.6 billion in the year 2021. It is estimated to grow at a CAGR of 14.80%, earning revenue of around USD 21.5 billion by the end of 2028. The growth of the India HVAC market is flourishing at a high rate owing to the changing lifestyle and increasing disposable income of Indian consumers. Furthermore, the rising construction of residential, commercial, and industrial facilities due to rising private and public investment in infrastructural development along with increasing demand for energy-efficient technologies are also propelling the growth of the market in this region. The constant launches of new products by HVAC companies and the rising integration of advanced technologies such as IoT and AI are estimated to provide new growth opportunities to the India HVAC market in the forecast period.
Increasing Infrastructural Development is Driving the India HVAC Market Growth
India is an emerging economy, which is why it attracts significant public and private investment towards infrastructural development. The increasing number of residential as well as commercial facilities such as hotels, shopping complexes, offices, etc., is anticipated to boost the demand for HVAC systems in the forecast period. Furthermore, several multinational manufacturing companies are establishing their production plants in India, which is also projected to fuel the growth of India HVAC market in the upcoming years.
Rising Product Launches by Market Players is Providing Lucrative Growth Opportunities to the India HVAC Market
The India HVAC market is showing a tremendous boost over the past few years and holds significant growth opportunities. To exploit these opportunities, several global and regional market players are launching new products and multinational corporations are entering this market. For instance, Samsung recently launched new WiFi-enabled large capacity Variable Refrigerant Flow (VRF) air conditioning systems in India. LG Electronics also launched its new range of DUALCOOL Inverter air conditioners under its health and hygiene portfolio.
India HVAC Market - By End-User
Based on end-user, the India HVAC market is segmented into residential, commercial, and industrial. The residential segment accounts for the largest market share owing to the increasing disposable income of Indian consumers and changing lifestyles. Due to this, the demand for the installation of HVAC appliances and systems at small houses is surging. However, the commercial segment is projected to witness the highest growth rate during the forecast period owing to the rising construction of commercial facilities such as offices, shopping complexes, hotels, etc., in the country.
India HVAC Market - Regional Insights
Geographically, the India HVAC market is segmented into North India, South India, East India, and West India. North India dominates the India HVAC market and is likely to dominate the market in the forecast period as well. The varying climatic conditions witnessed by states in this region act as a major driving factor for the market. High altitude regions such as Jammu and Kashmir, Himachal Pradesh, Uttarakhand, etc., have a high demand for heating appliances. However, states and union territories in northern plains such as Delhi, Uttar Pradesh, Bihar, etc., demand different types of heating and cooling appliances.
Impact of COVID-19 on India HVAC Market
The unprecedented COVID-19 pandemic outbreak negatively impacted the growth of the India HVAC market. The nationwide lockdown imposed by the government to curb the virus spread restricted the manufacturing and supply of non-essential items including HVAC equipment. Furthermore, the construction of residential, commercial, and industrial facilities was halted due to lockdown guidelines and lack of investment. The purchasing power of the consumers was also affected owing to the economic crisis in the country. All these factors resulted in a significant drop in the demand for HVAC systems in India, impacting the overall market growth.
Competitive Landscape
The leading market players of the India HVAC market are Carrier Midea India Private Limited, Carrier Airconditioning & Refrigeration Ltd., Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Fujitsu Limited, Panasonic Corporation, Blue Star Limited, Havells India Limited, Voltas Limited, Johnson Controls-Hitachi Air Conditioning India Limited, and other prominent players.
The market is highly competitive with the presence of various global and regional industry participants. The companies constantly launch new products with advanced features to gain a competitive edge over the market. Multinational corporations also invest in expanding their production capacities to meet the growing demand and boost their market penetration. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Don’t miss the business opportunity of the India HVAC market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India HVAC market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India HVAC market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
India HVAC Market is Forecast to Grow at a CAGR of 14.80% in the Forecast Period
The India HVAC market is growing at a high CAGR because of the changing lifestyle and increasing disposable income of Indian consumers along with rising construction of residential, commercial, and industrial facilities due to rising private and public investment in infrastructural development…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the India HVAC market was worth USD 8.6 billion in the year 2021. It is estimated to grow at a CAGR of 14.80%, earning revenue of around USD 21.5 billion by the end of 2028. The growth of the India HVAC market is flourishing at a high rate owing to the changing lifestyle and increasing disposable income of Indian consumers. Furthermore, the rising construction of residential, commercial, and industrial facilities due to rising private and public investment in infrastructural development along with increasing demand for energy-efficient technologies are also propelling the growth of the market in this region. The constant launches of new products by HVAC companies and the rising integration of advanced technologies such as IoT and AI are estimated to provide new growth opportunities to the India HVAC market in the forecast period.
Increasing Infrastructural Development is Driving the India HVAC Market Growth
India is an emerging economy, which is why it attracts significant public and private investment towards infrastructural development. The increasing number of residential as well as commercial facilities such as hotels, shopping complexes, offices, etc., is anticipated to boost the demand for HVAC systems in the forecast period. Furthermore, several multinational manufacturing companies are establishing their production plants in India, which is also projected to fuel the growth of India HVAC market in the upcoming years.
Rising Product Launches by Market Players is Providing Lucrative Growth Opportunities to the India HVAC Market
The India HVAC market is showing a tremendous boost over the past few years and holds significant growth opportunities. To exploit these opportunities, several global and regional market players are launching new products and multinational corporations are entering this market. For instance, Samsung recently launched new WiFi-enabled large capacity Variable Refrigerant Flow (VRF) air conditioning systems in India. LG Electronics also launched its new range of DUALCOOL Inverter air conditioners under its health and hygiene portfolio.
India HVAC Market - By End-User
Based on end-user, the India HVAC market is segmented into residential, commercial, and industrial. The residential segment accounts for the largest market share owing to the increasing disposable income of Indian consumers and changing lifestyles. Due to this, the demand for the installation of HVAC appliances and systems at small houses is surging. However, the commercial segment is projected to witness the highest growth rate during the forecast period owing to the rising construction of commercial facilities such as offices, shopping complexes, hotels, etc., in the country.
India HVAC Market - Regional Insights
Geographically, the India HVAC market is segmented into North India, South India, East India, and West India. North India dominates the India HVAC market and is likely to dominate the market in the forecast period as well. The varying climatic conditions witnessed by states in this region act as a major driving factor for the market. High altitude regions such as Jammu and Kashmir, Himachal Pradesh, Uttarakhand, etc., have a high demand for heating appliances. However, states and union territories in northern plains such as Delhi, Uttar Pradesh, Bihar, etc., demand different types of heating and cooling appliances.
Impact of COVID-19 on India HVAC Market
The unprecedented COVID-19 pandemic outbreak negatively impacted the growth of the India HVAC market. The nationwide lockdown imposed by the government to curb the virus spread restricted the manufacturing and supply of non-essential items including HVAC equipment. Furthermore, the construction of residential, commercial, and industrial facilities was halted due to lockdown guidelines and lack of investment. The purchasing power of the consumers was also affected owing to the economic crisis in the country. All these factors resulted in a significant drop in the demand for HVAC systems in India, impacting the overall market growth.
Competitive Landscape
The leading market players of the India HVAC market are Carrier Midea India Private Limited, Carrier Airconditioning & Refrigeration Ltd., Daikin Industries Ltd., Mitsubishi Electric Corporation, LG Electronics Inc., Fujitsu Limited, Panasonic Corporation, Blue Star Limited, Havells India Limited, Voltas Limited, Johnson Controls-Hitachi Air Conditioning India Limited, and other prominent players.
The market is highly competitive with the presence of various global and regional industry participants. The companies constantly launch new products with advanced features to gain a competitive edge over the market. Multinational corporations also invest in expanding their production capacities to meet the growing demand and boost their market penetration. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Don’t miss the business opportunity of the India HVAC market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India HVAC market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the India HVAC market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Table of Contents
114 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
- 3. Executive Summary
- 4. India HVAC Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. GROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Landscape/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter’s Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. The threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
- 5. India HVAC Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Offering
- 5.2.1.1. Equipment
- 5.2.1.1.1. Heating
- 5.2.1.1.2. Ventilation
- 5.2.1.1.3. Cooling
- 5.2.1.2. Service
- 5.2.2. By End-User
- 5.2.2.1. Commercial
- 5.2.2.2. Industrial
- 5.2.2.3. Residential
- 5.2.3. By Region
- 5.2.3.1. North India
- 5.2.3.2. South India
- 5.2.3.3. East India
- 5.2.3.4. West India
- 6. Competitive Landscape
- 6.1.
- List of Key Players and Their Offerings
- 6.2. Market Share Analysis, 2021
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Development (Merger, Acquisition, Partnership)
- 7. Impact of Covid-19 on India's HVAC Market Industry
- 8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 8.1. Blue Star Ltd.
- 8.2. Daikin Industries Ltd.
- 8.3. ETA General Pvt. Ltd.
- 8.4. Ingersoll-Rand Plc
- 8.5. LG Electronics Inc.
- 8.6. Mitsubishi Electric Corp.
- 8.7. Samsung Electronics Co. Ltd.
- 8.8. United Technologies Corp.
- 8.9. Voltas Ltd.
- 8.10. Whirlpool Corp
- 8.11. Fujitsu Ltd.
- 8.12. Panasonic Corp.
- 8.13. Havells India
- 8.14. Other prominent players
- 9. Key Strategic Recommendations
- *Financial information in case of non-listed companies will be provided as per availability
- **The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable
- List of Figures
- Figure 1 India HVAC Market Segmentation
- Figure 2 India HVAC Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2021
- Figure 4 India HVAC Market Size, By Value (USD Million), 2018-2028
- Figure 5 India HVAC Market Share, By Offering, By Value, 2018-2028
- Figure 6 India HVAC Market Share, By End-User, By Value, 2018-2028
- Figure 7 India HVAC Market Share, By Region, By Value, 2018-2028
- List of Tables
- Table 1 India HVAC Market Size, By Offering, By Value, 2018-2028
- Table 2 India HVAC Market Size, By End-User, By Value, 2018-2028
- Table 3 India HVAC Market Size, By Region, By Value, 2018-2028
- Table 4 Blue Star Ltd. Company Overview
- Table 5 Blue Star Ltd. Financial Overview
- Table 6 Daikin Industries Ltd. Company Overview
- Table 7 Daikin Industries Ltd. Financial Overview
- Table 8 Ingersoll-Rand Plc Company Overview
- Table 9 Ingersoll-Rand Plc Financial Overview
- Table 10 LG Electronics Inc. Company Overview
- Table 11 LG Electronics Inc. Financial Overview
- Table 12 Samsung Electronics Co. Ltd. Company Overview
- Table 13 Samsung Electronics Co. Ltd. Financial Overview
- Table 14 Voltas Ltd. Company Overview
- Table 15 Voltas Ltd. Financial Overview
- Table 16 Whirlpool Corp Company Overview
- Table 17 Whirlpool Corp Financial Overview
- Table 18 Fujitsu Ltd. Company Overview
- Table 19 Fujitsu Ltd. Financial Overview
- Table 20 Panasonic Corp. Company Overview
- Table 21 Panasonic Corp. Financial Overview
- Table 22 Havells India Company Overview
- Table 23 Havells India Financial Overview
- Table 24 Rogers Company Overview
- Table 25 Rogers Financial Overview
- Table 26 Bell Canada Company Overview
- Table 27 Bell Canada Financial Overview
- Table 28 Etisalat Company Overview
- Table 29 Etisalat Financial Overview
- Table 30 STC Company Overview
- Table 31 STC Financial Overview
- Table 32 LG U+ Company Overview
- Table 33 LG U+ Financial Overview
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