India targets USD 30 billion for HVAC industry by FY 2030

The expo will contribute towards creating an ecosystem in line with making India ‘Atmanirbhar’ with 40 Countries participating in South Asia’s largest expo on the HVACR industry with 450+ exhibitors. 

The Indian HVAC industry is projected to grow at a CAGR of 15.8% between 2021 and 2030, reaching a market size of approximately $30 billion, up from $7,820.5 million in 2021. The growth is fueled by infrastructure development, technological advancements, rising tourism activities, increasing disposable income, and government initiatives promoting energy efficiency. The industry is adopting automation, IoT, and AI integration, and the demand for higher-performing and energy-efficient systems is rising.

The 22nd edition of ACREX India, the largest exhibition for Air Conditioning, Heating, Ventilation, and Intelligent Buildings in South Asia, will be held from March 14 to 16, 2023, at the Bombay Exhibition Centre in Mumbai. The event, organised by the Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE) in partnership with Informa Markets, will showcase India’s thriving HVAC industry, aiming to contribute to the Prime Minister’s “Atmanirbhar” vision. The focus will be on technological advancements in the HVAC sector, which are essential for a better future.

Chandrasekar Narayanan Srikantan, National President, ISHRAE, says, “ACREX India, being organised in association with Informa Markets in India, facilitates the industry buyers and sellers to move from being energy guzzlers to energy conservers by providing the perfect platform to meet and grow their business. The expo proudly presents ‘Make in India’ industry leaders and aspiring innovators. With Net Zero as the industry’s focus, ACREX India will host power-packed knowledge sessions and a practical showcase of products and innovation. The expo will feature over 450 Exhibitors from 40 countries, including Belgium, China, Czech Republic, Egypt, France, Germany, Italy, Japan, Korea, Malaysia, Saudi Arabia, Singapore, Spain, Switzerland, Taiwan, the Netherlands, UAE, UK, Ukraine, and USA and will see participation from over 17,000 trade visitors and buyers and over 30 National and International conference speakers over three days.”

ACREX India is bringing insightful workshops and seminars to the industry to carve out a medium-to-long-term blueprint for the HVAC stakeholders and identify various growth drivers and inhibitors. The power-packed Seminar will comprise panel discussions and presentations on topics such as Engineering Towards Net Zero, the Role of HVAC in the Net Zero Plan of India, and Design Challenges for large-scale residential, to name a few.

Yogesh Mudras, Managing Director, Informa Markets in India, said, “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 IoT. Global temperatures have also increased the frequency and intensity of heat waves, draughts, and rainfall. These factors affect relative humidity, altering HVAC equipment’s performance and energy consumption. Moreover, a boost in investments by the government for the construction sector is creating demand for HVAC systems, which is expected to drive growth in the HVAC electronics market. In its 22nd edition, ACREX India, which is being held after a gap of 3 years, has taken a step to address the widespread environmental challenges and provide a roadmap to the HVAC industry to move towards low carbon intensity, lesser fuel, and electricity, giving rise to the demand for energy-efficient equipment in that market. It will propel the industry to grow at a consistent CAGR of 14.8 percent.”

Key participants

Notable participants at this year’s expo include Fujitsu General India Pvt. Ltd., Greystone Energy Systems Pvt. Ltd., Honeywell Automation India Ltd., Kirloskar Brothers Limited, Matel Motion & Energy Solution Pvt Ltd., Murugappa Morgan Thermal Ceramic Ltd., Panasonic Life Solutions, Yaskawa India Pvt. Ltd., Shanti Refrigeration, and Auro Engg Company, among others. They will provide a comprehensive overview of the latest HVAC trends worldwide. Key partners of the event include AEROPURE UV Systems, Kehems Technologies Pvt. Ltd., ZECO Aircon Ltd., DAIKIN Air-conditioning India Pvt. Ltd, Blue Star Limited, Sanuha India Pvt Ltd., Frascold India Pvt Ltd., Danfoss Industries Pvt Ltd., Hisense India Pvt. Ltd., ABS Fujitsu General Pvt. Ltd., Munters India Humidity Control Pvt. Ltd., Gandhi Automation Pvt. Ltd., Eurovent Certita Certification, AHRI (Air-conditioning Heating & Refrigeration Institute), and Enlite Research Pvt. Ltd.