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India Decarbonization HVAC Market Trends

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

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India Decarbonization HVAC Market Trends

The Indian government, through initiatives like the National Action Plan on Climate Change (NAPCC) and the National Mission on Energy Efficiency (NMEE), is spearheading efforts to enhance energy performance. The Perform, Achieve, and Trade (PAT) scheme, a part of NAPCC, mandates energy consumption cuts for major industries and fosters a market for energy-saving certificates. Complementing this, the Bureau of Energy Efficiency's Standards & Labeling Program assigns star ratings to HVAC systems, guiding consumers towards energy-efficient choices. These policies collectively bolster the adoption of advanced HVAC technologies, in line with India's sustainability targets.

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.