India’s Heating, Ventilation and Air-Conditioning (HVAC) industry, estimated at $7.8 billion in 2021, is projected to grow to the size of $30 billion by 2030 due to rising demand for cooling from the residential sector and on account of the urgent want for design and manufacturing of vitality environment friendly merchandise to meet the web zero goal by 2070, prime executives of ISHRAE and Informa Markets stated.
Chandrasekar Narayanan Srikantan, National President, The Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE) stated, “ Air-conditioning and ventilation are very import even for masses. Currently only 4% of the residential sector has air- conditioning and there is enormous potential for growth because the residential sector will grow at a rate of 15% for the next five years.”
He stated for the reason that constructing industry contributes 39% to carbon emission, vitality effectivity is essential to management emission and meet web zero goal.
Yogesh Mudras, Managing Director, Informa Markets in India stated , “The move toward smart HVAC systems is a key trend in India. With the increase in energy consumption and advancement of system efficiency, buyers are consciously opting for more intelligent HVAC systems with better controls, real-time monitoring, advanced building automation, and all things IoT. It will propel the industry to grow at a consistent CAGR of 14.8% till 2030.”
ISHRAE, in partnership with Informa Markets in India has introduced organising the 22 Edition of ACREX India, an exhibition on Air Conditioning, Heating, Ventilation, and Intelligent Buildings in Mumbai from 14 to 16 March 2023 the place a whole bunch of recent merchandise can be showcased.
