The country is witnessing a massive rise in the construction of commercial facilities. For example, $57 million were allocated for the development of the Delhi Metro’s Noida and Ghaziabad stations in 2019. In 2018, the development of the Dahisar–Mira Bhayander lines of the Mumbai Metro and the Andheri–Chhatrapati Shivaji Maharaj International Airport were approved. $925 million were sanctioned for these construction projects.
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Depending on offering, the Indian HVAC market is categorized into service and equipment. Between these, the service category will register higher growth in the market in the future years, as per the estimates of P&S Intelligence, a market research company based in India. This is due to the growing requirement for HVAC maintenance and installation services, on account of the soaring disposable income of the people and the growing construction real estate and industrial sectors in the country.
The Indian HVAC market is predicted to demonstrate the fastest growth in the western part of the country over the next few years. This is ascribed to the existence of huge manufacturing hubs such as Pune, Nagpur, Mumbai, and Ahmedabad in the region. Additionally, there are many manufacturing facilities and plants of several pharmaceutical and automotive companies in many tier-II cities in the western region of the country. These plants are creating a huge demand for HVAC systems.
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This market research report provides a comprehensive overview of the market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings