HVAC & HVACR systems are found in almost all upcoming commercial as well as residential buildings. Rise in infrastructure, rapid urbanization and growth in commercial properties are some of the key factors fuelling the market for HVAC & HVACR systems in India. With healthy growth anticipated in the real estate sector, the country is expected to witness strong infrastructure development, which would boost the market for HVAC & HVACR systems over the next five years.
The HVACR market in India is forecast to reach USD3.97 billion by 2020. Growth in retail, hospitality and commercial sectors is significantly boosting the demand for such systems in the country, as these sectors involve large-scale application of HVAC & HVACR systems in organized retail outlets, shopping complexes, hotels, etc.
Moreover, with anticipated growth in FDI (Foreign Direct Investment), several international players are expected to enter and start operations in the Indian retail market driven by strong FDI inflow from multinational food processing companies, the retail market in India is projected to reach USD726.62 billion by 2020, which is expected to further fuel the country's HVAC & HVACR market.
HVACR systems are becoming one of the key building blocks in modern infrastructure. These systems are found in almost all upcoming industrial, commercial as well as residential buildings. Rise in infrastructure, rapid urbanization and growth in...Read More