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Outlook on the HVAC Indian Market to 2030 - Industry Analysis and Growth Forecast to 2030
Dublin, Nov. 27, 2020 (GLOBE NEWSWIRE) -- The "India HVAC Market Research Report: By Offering (Equipment, Service), End-User (Commercial, Industrial, Residential) - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering. As per the World Bank, the gross domestic product (GDP) per capita of India rose from $112.434 in 1970 to $2,005.863 in 2018. During the same period, the adjusted net national income per capita of the country increased from $104.049 to $1,735.329. This clearly shows that the average Indian is significantly richer now than 30 years ago, which is allowing them to spend on products, once considered a luxury, such as heating, ventilation, and air conditioning (HVAC) systems, cars, and refrigerators. The publisher says that the increasing disposable income will act as the key driver for the growth of the Indian HVAC market from $8,526.7 million in 2019 to $31,598.6 million by 2030, at a high 16.0% CAGR during the forecast period (2020-2030). These appliances are witnessing rising sales with people purchasing them to maintain the optimum temperature inside closed spaces and achieve proper ventilation. From homes and large shops to offices, transport hubs, and factories, HVAC appliances find widespread usage. Another reason for the rising installation rate of such equipment in the country is its burgeoning residential construction sector. Apart from the rapidly increasing population and urbanization, government support and the implementation of real estate regulations are also boosting residential construction activities in India. Compared to 1.3% in 2016-2017, the construction sector of the nation grew by 4.3% during 2017-2018, to reach $140 billion in FY2018. Moreover, the ongoing construction of 100 smart cities in India will further drive the demand for HVAC systems. The Indian HVAC market is divided into ventilation, cooling, and heating, on the basis of equipment type. Among these, the cooling category held the largest share during the historical period (2014-2019), and the same scenario is predicted for the forecast period. Most of the country has a tropical or subtropical climate, which means hot weather for much of the year. Day temperatures of 45 degrees Celsius are common in sub-Himalayan India during summers, while high humidity characterizes the period between July and September. Among commercial, industrial, and residential end users, commercial users account for the highest procurement rate of HVAC appliances in the nation. In recent years, the number of corporate houses and shopping malls has risen vastly in the country, thus creating a huge demand for ACs and heating and ventilation systems. By 2021, an additional 34 shopping malls are set to be inaugurated in eight cities, including Hyderabad, Delhi-National Capital Region (NCR), and Bangalore. Moreover, the rising spending on other commercial infrastructure projects is also helping the Indian HVAC market grow. For instance, Delhi Metro is being expanded deeper into Noida and Ghaziabad with an investment of $57 million. Similarly, two corridors of Mumbai Metro are being constructed with a total expenditure of $925 million. Additionally, the construction of 100 airports over the next 10-15 years was okayed by the Indian government in 2017. As cooling and ventilation systems are important in all such places, their establishment and expansion will boost the HVAC demand. Key Topics Covered: Chapter 1. Research Background Chapter 2. Research Methodology 2.1 Secondary Research 2.2 Primary Research 2.2.1 Breakdown of Primary Research Respondents 2.2.1.1 By region 2.2.1.2 By industry participant 2.2.1.3 By company type 2.3 Market Size Estimation 2.4 Data Triangulation 2.5 Assumptions for the Study 2.6 Notes and Caveats Chapter 3. Executive Summary Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Offering 4.1.1.1 Equipment 4.1.1.1.1 Heating 4.1.1.1.1.1 Heat pumps 4.1.1.1.1.1.1 Air-source 4.1.1.1.1.1.2 Water-source 4.1.1.1.1.1.3 Ground-source 4.1.1.1.1.2 Furnaces 4.1.1.1.1.2.1 Gasoline 4.1.1.1.1.2.2 Propane 4.1.1.1.1.2.3 Electric 4.1.1.1.1.3 Boilers 4.1.1.1.1.3.1 Water-tube 4.1.1.1.1.3.2 Fire-tube 4.1.1.1.1.4 Unitary heaters 4.1.1.1.2 Ventilation 4.1.1.1.2.1 Ventilation fans 4.1.1.1.2.1.1 Centrifugal fans 4.1.1.1.2.1.2 Axial fans 4.1.1.1.2.1.3 Domestic exhaust fans 4.1.1.1.2.1.4 Power roof fans 4.1.1.1.2.2 Air handling units 4.1.1.1.2.2.1 Terminal units 4.1.1.1.2.2.2 Makeup air units 4.1.1.1.2.2.3 Rooftop units 4.1.1.1.2.3 Fan coil units 4.1.1.1.2.3.1 Two-pipe 4.1.1.1.2.3.2 Four-pipe 4.1.1.1.2.4 Humidifiers/dehumidifiers 4.1.1.1.2.5 Air cleaners 4.1.1.1.2.5.1 Type 1: HEPA + carbon 4.1.1.1.2.5.2 Type 2: HEPA + carbon + ionizer 4.1.1.1.2.5.3 Type 3: HEPA + carbon + UV 4.1.1.1.2.5.4 Type 4: HEPA + carbon + ionizer + UV 4.1.1.1.2.5.5 Type 5: Other technologies 4.1.1.1.3 Cooling 4.1.1.1.3.1 Room ACs 4.1.1.1.3.1.1 Mini splits 4.1.1.1.3.1.2 Window ACs 4.1.1.1.3.2 Split units 4.1.1.1.3.3 Ducted split/packaged units 4.1.1.1.3.3.1 Heat pump systems 4.1.1.1.3.3.2 Heat recovery systems 4.1.1.1.4 Chillers 4.1.1.1.4.1 Centrifugal 4.1.1.1.4.2 Screw 4.1.1.1.4.3 Scroll 4.1.1.1.4.4 Absorption 4.1.1.1.4.5 Reciprocating 4.1.1.2 Services 4.1.1.2.1 Installation 4.1.1.2.2 Upgradation/replacement 4.1.1.2.3 Maintenance and repair 4.1.1.2.4 Consulting 4.1.2 By End-User 4.1.2.1 Commercial 4.1.2.1.1 Offices and buildings 4.1.2.1.2 Supermarkets/Hypermarkets 4.1.2.1.3 Government 4.1.2.1.4 Healthcare 4.1.2.1.5 Hospitality 4.1.2.1.6 Transportation 4.1.2.1.7 Others 4.1.2.2 Industrial 4.1.2.2.1 Oil and gas 4.1.2.2.2 Food and beverage 4.1.2.2.3 Automotive 4.1.2.2.4 Energy and utilities 4.1.2.2.5 Others 4.1.2.3 Residential 4.2 Value Chain Analysis 4.3 Market Dynamics 4.3.1 Trends 4.3.1.1 Rising inclination toward smart HVAC systems 4.3.1.2 Adoption of energy-efficient HVAC systems 4.3.2 Drivers 4.3.2.1 Growing residential construction sector 4.3.2.2 Surging infrastructure spending 4.3.2.3 Rising disposable income 4.3.2.4 Impact analysis of drivers on market forecast 4.3.3 Restraints 4.3.3.1 High installation cost 4.3.3.2 Impact analysis of restraints on market forecast 4.3.4 Opportunity 4.3.4.1 Growing preference for geothermal HVAC 4.3.4.2 Increasing deployment of VRF systems in high-rise buildings 4.4 Impact of COVID-19 4.4.1 Supply-Side Analysis 4.4.2 Demand-Side Analysis 4.4.3 Assessment of COVID-19 Impact on GDP of Various Economies 4.4.3.1 GDP Growth Rate (2019) 4.4.3.2 GDP Growth Rate (2020) 4.4.3.3 GDP Growth Rate Projection for 2021 4.5 Porter's Five Forces Analysis 4.5.1 Bargaining Power of Buyers 4.5.2 Bargaining Power of Suppliers 4.5.3 Threat of New Entrants 4.5.4 Intensity of Rivalry 4.5.5 Threat of Substitutes Chapter 5. India Market Size and Forecast 5.1 By Offering 5.1.1 By Equipment Type 5.1.1.1 Heating, by equipment type 5.1.1.1.1 Heat pumps, by type 5.1.1.1.2 Furnaces, by type 5.1.1.1.3 Boilers, by type 5.1.1.2 Ventilation, by equipment type 5.1.1.2.1 Ventilation fans, by type 5.1.1.2.2 AHUs and FCUs, by type 5.1.1.2.2.1 AHUs, by type 5.1.1.2.2.2 FCUs, by type 5.1.1.2.3 Humidifiers/dehumidifiers 5.1.1.2.4 Air cleaners, by type 5.1.1.3 Cooling, by equipment type 5.1.1.3.1 Room ACs, by type 5.1.1.3.2 VRF, by type 5.1.1.3.3 Chillers, by type 5.1.2 By Service Type 5.2 By End-User 5.2.1 Commercial, by category 5.2.2 Industrial, by category 5.2.3 By residential 5.3 By Region 5.3.1 North India 5.3.1.1 Key States in North India 5.3.1.1.1 Delhi 5.3.1.1.2 Madhya Pradesh 5.3.1.1.3 Uttar Pradesh 5.3.1.1.4 Uttarakhand 5.3.2 South India 5.3.2.1 Key States in South India 5.3.2.1.1 Karnataka 5.3.2.1.2 Tamil Nadu 5.3.2.1.3 Telangana 5.3.3 East India 5.3.3.1 Key States in East India 5.3.3.1.1 Assam 5.3.3.1.2 Bihar 5.3.4 West India 5.3.4.1 Key States in West India 5.3.4.1.1 Gujarat 5.3.4.1.2 Maharashtra Chapter 6. Key Performance Indicators (KPIs) 6.1 Increasing Number of Hospitals in India 6.2 Hotel and Tourism Industry Scenario 6.3 Increasing Metro Rail Projects 6.4 Increasing Number of Shopping Malls 6.5 Growing Aviation Industry Chapter 7. Competitive Landscape 7.1 Market Share Analysis of Key Players 7.2 Comparison of Key Players 7.3 Strategic Developments of Key Players 7.3.1 Product Launches 7.3.2 Partnerships 7.3.3 Facility Expansions 7.3.4 Other Developments 7.4 List of Players and Their Offerings Chapter 8. Company Profiles 8.1 Carrier Midea India Private Limited 8.1.1 Business Overview 8.1.2 Product and Service Offerings 8.2 Carrier Airconditioning & Refrigeration Ltd. 8.3 Daikin Industries Ltd. 8.4 Mitsubishi Electric Corporation 8.5 LG Electronics Inc. 8.6 Fujitsu Limited 8.7 Panasonic Corporation 8.8 Blue Star Limited 8.9 Havells India Limited 8.10 Voltas Limited 8.11 Johnson Controls-Hitachi Air Conditioning India Limited Chapter 9. Appendix 9.1 Abbreviations 9.2 Sources and References 9.3 Related Reports For more information about this report visit https://ift.tt/3mjoXpi and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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