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India Decarbonization HVAC Market Size

Report ID: GMI10659
Published Date: Aug 2024
Report Format: PDF

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India Decarbonization HVAC Market Size

India Decarbonization HVAC Market was valued at around USD 1.71 billion in 2023 and is estimated to register a CAGR of around 18.8% between 2024 & 2032. India's demand for decarbonized HVAC systems is rising, driven by a focus on environmental sustainability and energy efficiency. With global climate concerns increasing, reducing carbon emissions, especially in industrial and commercial sectors, is crucial. India is adopting energy-efficient HVAC solutions with sustainable technologies. Government initiatives like the Energy Conservation Building Code (ECBC) mandate superior energy performance in buildings, boosting the adoption of decarbonized HVAC systems.

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Strong government support propels the growth of decarbonized HVAC systems in India. Policies promoting energy efficiency and sustainability in building infrastructure are in place. The ECBC sets higher efficiency standards for HVAC systems. Financial incentives, such as subsidies and tax rebates, encourage investment in greener technologies.

Additionally technological advancements are reshaping the future of HVAC systems, greatly optimizing their operations. AI-driven automation for heating and cooling stands at the forefront of this revolution, offering improved efficiency and performance.

India Decarbonization HVAC Market Report Attributes
Report Attribute	Details
Base Year:	2023
India Decarbonization HVAC Market Size in 2023:	USD 1.71Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	18.8%
2024 – 2032 Value Projection:	USD 7.72 Billion
Historical Data for:	2021 – 2023
No. of Pages:	95
Tables, Charts & Figures:	365
Segments covered:	Product type, operation, capacity, energy source, end use, distribution channel
Growth Drivers:	Rising demand for energy-efficient and sustainable cooling solutions Rising government support for green initiatives Advancements in HVAC technology
Pitfalls & Challenges:	Energy shortage and crisis Complex regulatory landscape

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Energy shortages and crises significantly impact the HVAC market in India. Rising electricity and fuel prices increase operational costs for HVAC systems. Irregular power supply and frequent load shedding during energy crises compromise the reliability and performance of these systems. This instability disrupts HVAC operations, causing discomfort and inefficiencies in both commercial and residential sectors. Higher energy expenses often lead to financial constraints, delaying necessary maintenance and upgrades of HVAC infrastructure. Deferred maintenance reduces system efficiency, increases breakdown risks, and disrupts overall operations. Integration remains a significant challenge in India's HVAC sector.

Many HVAC systems are installed but Building Management Systems (BMS) often lag behind. India’s HVAC energy efficiency is hindered by its three distinct seasons, each requiring specific adjustments.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of India decarbonization HVAC was recorded USD 1.71 billion in 2023 and is anticipated to register 18.8% CAGR between 2024 to 2032, driven by a focus on environmental sustainability and energy efficiency.

India decarbonization HVAC industry from the direct method segment is anticipated to record 19.2% CAGR through 2032, due to its immediate and tangible reduction in carbon emissions through low-carbon technologies.

In 2023, air conditioning equipment segment accounted for around USD 953.9 million and is expected to reach USD 4.34 billion by 2032, due to its significant impact on energy consumption and carbon emissions.

Blue Star Limited, Bosch Limited, Carrier group, Daikin industries ltd, Danfoss Industries Pvt. Ltd, Emerson Climate Technologies (India) Pvt. Ltd, Johnson Controls Plc, and Kruger Ventilation Industries, among others.