India Hvac Systems Market Size & Outlook, 2023-2030
India hvac systems market, 2018-2030 (US$M)
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India hvac systems market highlights
- The India hvac systems market generated a revenue of USD 7,988.5 million in 2023 and is expected to reach USD 14,371.6 million by 2030.
- The India market is expected to grow at a CAGR of 8.8% from 2024 to 2030.
- In terms of segment, air conditioning was the largest revenue generating equipment in 2023.
- Air Purifier is the most lucrative equipment segment registering the fastest growth during the forecast period.
Hvac systems market data book summary
| Market revenue in 2023 | USD 7,988.5 million |
| Market revenue in 2030 | USD 14,371.6 million |
| Growth rate | 8.8% (CAGR from 2023 to 2030) |
| Largest segment | Air conditioning |
| Fastest growing segment | Air Purifier |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heat Pump, Furnace, Unitary Heaters, Boilers, Air Purifier, Dehumidifier, Air Handling Units, Ventilation Fans, Air Conditioning, Chillers, Cooling Towers |
| Key market players worldwide | Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Fujitsu Ltd, Haier, Hitachi Ltd, Johnson Controls International PLC, LG Electronics Inc ADR, Lennox International Inc, Mitsubishi Electric Corp, Samsung Electronics Co Ltd, Trane Technologies PLC Class A |
Other key industry trends
- In terms of revenue, India accounted for 3.4% of the global hvac systems market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China hvac systems market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 14,371.6 million by 2030.
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HVAC Systems Market Scope
HVAC Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India hvac systems market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hvac systems market will help companies and investors design strategic landscapes.
Air conditioning was the largest segment with a revenue share of 56.36% in 2023. Horizon Databook has segmented the India hvac systems market based on heat pump, furnace, unitary heaters, boilers, air purifier, dehumidifier, air handling units, ventilation fans, air conditioning, chillers, cooling towers covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the HVAC systems market in the country is primarily driven by the increasing construction activities, industrialization, and rising product awareness coupled with the increasing disposable income.
In various parts of the country, space cooling products penetration among consumers is no increasing for comfort & well-being, sustainable cities that are resistant to changing climates and economic development.
According to India's Cooling Action Plan, the demand for space cooling in buildings is expected to increase by 11 times between 2018 and 2038. By 2050, the International Energy Agency estimates that India is likely to be the largest consumer of space cooling across the globe with space cooling responsible for 28% of electricity demand and 44% of peak load.
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Horizon Databook provides a detailed overview of country-level data and insights on the India hvac systems market , including forecasts for subscribers. This country databook contains high-level insights into India hvac systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India hvac systems market size, by equipment, 2018-2030 (US$M)
India HVAC Systems Market Outlook Share, 2023 & 2030 (US$M)
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