HVAC Systems Market in India 2024-2028

The HVAC systems market in India is forecasted to grow by USD 3.98 bn during 2023-2028, accelerating at a CAGR of 10.77% during the forecast period. The report on the HVAC systems market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for inverter HVAC systems, increasing office absorption space, and rising preference for rental HVAC systems.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	9.98%
CAGR	10.77%
Incremental Value	$3.98bn

Technavio's HVAC systems market in India is segmented as below:

By Application

Non-residential
Residential

By Type

Centralized
Decentralized

By Installation Sites

New installation
Retrofit

This study identifies the increasing popularity of smart HVAC systems as one of the prime reasons driving the HVAC systems market in India growth during the next few years. Also, growing concerns over improving IAQ in residential and commercial buildings and adoption of low-gwp refrigerants by HVAC system manufacturers will lead to sizable demand in the market.

The report on the HVAC systems market in India covers the following areas:

HVAC systems market in India sizing
HVAC systems market in India forecast
HVAC systems market in India industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading HVAC systems market in India vendors that include Air Control India Pvt Ltd, Blue Star Ltd., Daikin Industries Ltd., Fujitsu General Ltd., Godrej and Boyce Manufacturing Co. Ltd., Haier Smart Home Co. Ltd., Havells India Ltd., Hitachi Ltd., Honeywell International Inc., IFB Industries Ltd., Ingersoll Rand Inc., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Toshiba Corp., Trane Technologies Plc, Voltas Ltd., and Whirlpool Corp.. Also, the HVAC systems market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR41588

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Country Market Characteristics
Exhibit 04: Executive Summary - Chart on Market Segmentation by Application
Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
Exhibit 06: Executive Summary - Chart on Market Segmentation by Installation Sites
Exhibit 07: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 10: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 11: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 12: Chart on India - Market size and forecast 2023-2028 ($ billion)
Exhibit 13: Data Table on India - Market size and forecast 2023-2028 ($ billion)
Exhibit 14: Chart on India: Year-over-year growth 2023-2028 (%)
Exhibit 15: Data Table on India: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 HVAC systems market in India 2018 - 2022
Exhibit 16: Historic Market Size - Data Table on hvac systems market in India 2018 - 2022 ($ billion)
4.2 Application Segment Analysis 2018 - 2022
Exhibit 17: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
4.3 Type Segment Analysis 2018 - 2022
Exhibit 18: Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.4 Installation Sites Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Installation Sites Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 21: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 22: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 23: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 24: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 25: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 26: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
Exhibit 27: Chart on Application - Market share 2023-2028 (%)
Exhibit 28: Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
Exhibit 29: Chart on Comparison by Application
Exhibit 30: Data Table on Comparison by Application
6.3 Non-residential - Market size and forecast 2023-2028
Exhibit 31: Chart on Non-residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 32: Data Table on Non-residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 33: Chart on Non-residential - Year-over-year growth 2023-2028 (%)
Exhibit 34: Data Table on Non-residential - Year-over-year growth 2023-2028 (%)
6.4 Residential - Market size and forecast 2023-2028
Exhibit 35: Chart on Residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Data Table on Residential - Market size and forecast 2023-2028 ($ billion)
Exhibit 37: Chart on Residential - Year-over-year growth 2023-2028 (%)
Exhibit 38: Data Table on Residential - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Application
Exhibit 39: Market opportunity by Application ($ billion)
Exhibit 40: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Type

7.1 Market segments
Exhibit 41: Chart on Type - Market share 2023-2028 (%)
Exhibit 42: Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
Exhibit 43: Chart on Comparison by Type
Exhibit 44: Data Table on Comparison by Type
7.3 Centralized - Market size and forecast 2023-2028
Exhibit 45: Chart on Centralized - Market size and forecast 2023-2028 ($ billion)
Exhibit 46: Data Table on Centralized - Market size and forecast 2023-2028 ($ billion)
Exhibit 47: Chart on Centralized - Year-over-year growth 2023-2028 (%)
Exhibit 48: Data Table on Centralized - Year-over-year growth 2023-2028 (%)
7.4 Decentralized - Market size and forecast 2023-2028
Exhibit 49: Chart on Decentralized - Market size and forecast 2023-2028 ($ billion)
Exhibit 50: Data Table on Decentralized - Market size and forecast 2023-2028 ($ billion)
Exhibit 51: Chart on Decentralized - Year-over-year growth 2023-2028 (%)
Exhibit 52: Data Table on Decentralized - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Type
Exhibit 53: Market opportunity by Type ($ billion)
Exhibit 54: Data Table on Market opportunity by Type ($ billion)

8 Market Segmentation by Installation Sites

8.1 Market segments
Exhibit 55: Chart on Installation Sites - Market share 2023-2028 (%)
Exhibit 56: Data Table on Installation Sites - Market share 2023-2028 (%)
8.2 Comparison by Installation Sites
Exhibit 57: Chart on Comparison by Installation Sites
Exhibit 58: Data Table on Comparison by Installation Sites
8.3 New installation - Market size and forecast 2023-2028
Exhibit 59: Chart on New installation - Market size and forecast 2023-2028 ($ billion)
Exhibit 60: Data Table on New installation - Market size and forecast 2023-2028 ($ billion)
Exhibit 61: Chart on New installation - Year-over-year growth 2023-2028 (%)
Exhibit 62: Data Table on New installation - Year-over-year growth 2023-2028 (%)
8.4 Retrofit - Market size and forecast 2023-2028
Exhibit 63: Chart on Retrofit - Market size and forecast 2023-2028 ($ billion)
Exhibit 64: Data Table on Retrofit - Market size and forecast 2023-2028 ($ billion)
Exhibit 65: Chart on Retrofit - Year-over-year growth 2023-2028 (%)
Exhibit 66: Data Table on Retrofit - Year-over-year growth 2023-2028 (%)
8.5 Market opportunity by Installation Sites
Exhibit 67: Market opportunity by Installation Sites ($ billion)
Exhibit 68: Data Table on Market opportunity by Installation Sites ($ billion)

9 Customer Landscape

9.1 Customer landscape overview
Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 70: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 71: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 72: Overview on factors of disruption
11.4 Industry risks
Exhibit 73: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 74: Vendors covered
12.2 Market positioning of vendors
Exhibit 75: Matrix on vendor position and classification
12.3 Blue Star Ltd.
Exhibit 76: Blue Star Ltd. - Overview
Exhibit 77: Blue Star Ltd. - Business segments
Exhibit 78: Blue Star Ltd. - Key offerings
Exhibit 79: Blue Star Ltd. - Segment focus
12.4 Daikin Industries Ltd.
Exhibit 80: Daikin Industries Ltd. - Overview
Exhibit 81: Daikin Industries Ltd. - Business segments
Exhibit 82: Daikin Industries Ltd. - Key news
Exhibit 83: Daikin Industries Ltd. - Key offerings
Exhibit 84: Daikin Industries Ltd. - Segment focus
12.5 Godrej and Boyce Manufacturing Co. Ltd.
Exhibit 85: Godrej and Boyce Manufacturing Co. Ltd. - Overview
Exhibit 86: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
Exhibit 87: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
Exhibit 88: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus
12.6 Havells India Ltd.
Exhibit 89: Havells India Ltd. - Overview
Exhibit 90: Havells India Ltd. - Business segments
Exhibit 91: Havells India Ltd. - Key news
Exhibit 92: Havells India Ltd. - Key offerings
Exhibit 93: Havells India Ltd. - Segment focus
12.7 Hitachi Ltd.
Exhibit 94: Hitachi Ltd. - Overview
Exhibit 95: Hitachi Ltd. - Business segments
Exhibit 96: Hitachi Ltd. - Key news
Exhibit 97: Hitachi Ltd. - Key offerings
Exhibit 98: Hitachi Ltd. - Segment focus
12.8 IFB Industries Ltd.
Exhibit 99: IFB Industries Ltd. - Overview
Exhibit 100: IFB Industries Ltd. - Business segments
Exhibit 101: IFB Industries Ltd. - Key offerings
Exhibit 102: IFB Industries Ltd. - Segment focus
12.9 Ingersoll Rand Inc.
Exhibit 103: Ingersoll Rand Inc. - Overview
Exhibit 104: Ingersoll Rand Inc. - Business segments
Exhibit 105: Ingersoll Rand Inc. - Key offerings
Exhibit 106: Ingersoll Rand Inc. - Segment focus
12.10 Johnson Controls International Plc
Exhibit 107: Johnson Controls International Plc - Overview
Exhibit 108: Johnson Controls International Plc - Business segments
Exhibit 109: Johnson Controls International Plc - Key news
Exhibit 110: Johnson Controls International Plc - Key offerings
Exhibit 111: Johnson Controls International Plc - Segment focus
12.11 LG Electronics Inc.
Exhibit 112: LG Electronics Inc. - Overview
Exhibit 113: LG Electronics Inc. - Product / Service
Exhibit 114: LG Electronics Inc. - Key offerings
12.12 Mitsubishi Electric Corp.
Exhibit 115: Mitsubishi Electric Corp. - Overview
Exhibit 116: Mitsubishi Electric Corp. - Business segments
Exhibit 117: Mitsubishi Electric Corp. - Key news
Exhibit 118: Mitsubishi Electric Corp. - Key offerings
Exhibit 119: Mitsubishi Electric Corp. - Segment focus
12.13 Panasonic Holdings Corp.
Exhibit 120: Panasonic Holdings Corp. - Overview
Exhibit 121: Panasonic Holdings Corp. - Business segments
Exhibit 122: Panasonic Holdings Corp. - Key news
Exhibit 123: Panasonic Holdings Corp. - Key offerings
Exhibit 124: Panasonic Holdings Corp. - Segment focus
12.14 Samsung Electronics Co. Ltd.
Exhibit 125: Samsung Electronics Co. Ltd. - Overview
Exhibit 126: Samsung Electronics Co. Ltd. - Business segments
Exhibit 127: Samsung Electronics Co. Ltd. - Key news
Exhibit 128: Samsung Electronics Co. Ltd. - Key offerings
Exhibit 129: Samsung Electronics Co. Ltd. - Segment focus
12.15 Toshiba Corp.
Exhibit 130: Toshiba Corp. - Overview
Exhibit 131: Toshiba Corp. - Business segments
Exhibit 132: Toshiba Corp. - Key news
Exhibit 133: Toshiba Corp. - Key offerings
Exhibit 134: Toshiba Corp. - Segment focus
12.16 Voltas Ltd.
Exhibit 135: Voltas Ltd. - Overview
Exhibit 136: Voltas Ltd. - Business segments
Exhibit 137: Voltas Ltd. - Key offerings
Exhibit 138: Voltas Ltd. - Segment focus
12.17 Whirlpool Corp.
Exhibit 139: Whirlpool Corp. - Overview
Exhibit 140: Whirlpool Corp. - Business segments
Exhibit 141: Whirlpool Corp. - Key offerings
Exhibit 142: Whirlpool Corp. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 143: Inclusions checklist
Exhibit 144: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 145: Currency conversion rates for US$
13.4 Research methodology
Exhibit 146: Research methodology
Exhibit 147: Validation techniques employed for market sizing
Exhibit 148: Information sources
13.5 List of abbreviations
Exhibit 149: List of abbreviations