Thermal Management should Focus on Energy Efficiency

All the cooling equipment, both in air conditioning & refrigeration, need to focus on energy efficiency, carbon footprint and remote connectivity capabilities.

Thermal control market in India’s outlook Every piece of equipment, electronic products, processes, food, pharmaceutical products, and medicines require thermal management to improve efficiency, productivity and longevity. Machines require cooling, e.g. Car engines, home computers, and refrigerators at home to preserve food items for a longer time. Examples are numerous. And another example is that of comfort cooling. It is proven air-conditioned workspace improves the productivity/efficiency of people employed in such buildings.

While it can be said that fastexpanding economies normally would see thermal management business growing at a similar pace, focusing on two specific thermal management aspects (Air Conditioning & Refrigeration in India), we can examine the pace of growth in the following two areas.

India’s air conditioner market is expected to reach USD 6,054.96 million by 2027, growing at a CAGR of 6.08 percent. Expected main areas driving growth would be Residential ACs, Data centre cooling, commercial establishments, process cooling, hospitals & healthcare, EV charging stations etc. The commercial refrigeration segment in India is valued at USD 375 million currently, and, looking at the rising demand; it is expected to touch USD 625 million by 2027. The main areas driving growth could be an expansion of urbanisation & food retail chain, Government policies on agricultural produce (waste reduction), pharmaceuticals etc. Today, all the cooling equipment in air conditioning and refrigeration needs to focus on energy efficiency, carbon footprint and remote connectivity capabilities.

Key factors influencing the sensors market

 The indoor air quality of residential, office, commercial, hospital & healthcare spaces are quickly gaining the utmost importance. The recent pandemic has taught us this vital aspect very practically. This awareness is driving and influencing the sensor market today.

Opportunities for the existing players and those planning to enter various thermal management value chain stages 

Market growth forecasts would be the most motivating factor for existing and new players. However, to get the business share features, energy efficiency, environmental impact, and the built-in capability of remote connectivity should be added. Also, there are relatively new opportunities in areas like Data centre cooling or EV charging stations, where both existing and newcomers can innovate and get market share.