HVAC Industry To See The Silver Lining Soon

The Indian HVAC market is expected to reach $31,5986 million by 2030 at a CAGR of 16 percent. Comprising of heating, ventilation and air conditioning, the HVAC is increasing at a considerable rate due to the increase in the disposable income of people and growth in the commercial, industrial, and residential infrastructure investments in the country. However, the Indian HVAC market growth is negatively impacted due to COVID-19, where supply and demand, both saw a downward curve.

But as the market is opening up and the industry is moving back on track slowly but steadily, the HVAC industry will see an increase in demand as new retail, hospitality, manufacturing plants, commercial properties, pharmaceutical, and other sectors are setup. Rapid industrialization and the growth of the service sector will also boost the HVAC sector. On the other hand, the increasing government investments in infrastructure development, smart cities, healthcare, tourism and transportation segments will help generate more demand for the HVAC industry. In the coming times, the HVAC systems of the future will see more use of technology intervention such as geothermal heat pumps, solar power, smart thermostats and ice-powered air conditioning to reduce the environmental impact by consuming less energy.

Looking at this growing need of the hour, siliconindia Magazine brings to you `10 Most Promising HVAC Solution Providers ­ 2020'. Our team of experts comprising siliconindia Editorial Board and experienced veterans from the industry together have shortlisted the names and then finalize the listing. Together we have tried to bring the best of the name from the industry, their offerings, USP and their flagship offering in the HVAC space. Read to know more about them.

Do let us know what you think!