M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

India HVAC Market Forecast & Opportunities , 2019

I n d u s t r y B r i e f

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For over a decade, India has been witnessing continuous growth across almost all the major industrial and commercial

sectors. Besides metropolitan cities, the wave of development is also directed towards Tier 1 and tier 2 cities, which are

undergoing major revamps. Expansion of commercial space, more offices and corporate hubs coming up, and introduction of

organized retail outlets are driving the demand for HVAC installations across the country. Introduced for the first time in

Kolkata and then in Delhi, the metro rail network is also expanding gradually in cities like Lucknow, Jaipur, Bangalore and

Hyderabad, thereby creating significant demand for HVAC systems. In addition to shopping malls and retail complexes,

airports are also emerging as important centers for HVAC installations in the country. HVAC systems have become one of

the core building blocks for modern infrastructure, encompassing various sectors like real estate, etc. All these factors are

expected to spur the market for HVAC systems in India.

According to “India HVAC Market Forecast & Opportunities, 2019”, the HVAC market in India is forecast to reach US$

3.97 billion by 2019 on account of changing lifestyle, increasing per capita income, and rising expenditure by consumers on

comfort solutions. The Indian HVAC market is also expected to witness growth on account of rising investments by corporate

in India. Major companies offering HVAC systems in the Indian market are Daikin, Blue Star, Voltas, Carrier and ETA.

However, with the rising demand for energy efficient products in the country the HVAC market is expected to undergo

significant brand shift over the coming years. “India HVAC Market Forecast & Opportunities, 2019” discusses the

following aspects of the India HVAC market:

India HVAC Market Size, Share & Forecast

Segmental & Regional Analysis

Policy & Regulatory Landscape

Changing Market Trends & Emerging Opportunities

Competitive Landscape & Strategic Recommendations

T a b l e o f C o n t e n t s

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1. Research Methodology

2. Analyst Briefing

3. HVAC Classification

4. Global HVAC Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value

5. India HVAC Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Segment

5.2.2. By Region

6. Centralized Air Conditioning Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Equipment Type

6.2.2. By End User Industry

6.2.3. By Company

6.3. Pricing Analysis

7. India HVAC Market Dynamics

7.1. Drivers

7.2. Challenges

8. India HVAC Market Trends & Developments

8.1. Inverter Based Air Conditioners

8.2. Using Non-Ozone Depleting Refrigerant

8.3. Increasing Raw Material Prices

T a b l e o f C o n t e n t s

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8.4. Increasing Investments

8.5. Growing Real Estate Sector

9. Policy & Regulatory Landscape

10. India Economic Profile

11. Competitive Landscape

11.1. Blue Star Limited

11.2. Voltas Ltd.

11.3. Daikin Air Conditioning India Pvt. Ltd.

11.4. Carrier Air Conditioning & Refrigeration Ltd.

11.5. ETA Engineering Pvt. Ltd.

12. Strategic Recommendations

13. About US & Disclaimer

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L i s t o f F i g u r e s

• Figure 1: HVAC Classification

• Figure 2: Global HVAC Market Size, By Value, 2010 – 2019F (USD Billion)

• Figure 3: India HVAC Market Size, By Value, 2010 – 2019F (USD Billion)

• Figure 4: India Retail Market Size, By Value, 2009 – 2019F (USD Billion)

• Figure 5: India HVAC Market Share, By Segment, By Value, 2013 & 2019F

• Figure 6: India HVAC Market Share, By Region, By Value, 2013 & 2019F

• Figure 7: India Centralized Air Conditioning Market Size, By Value, 2010 – 2019F (USD Million)

• Figure 8: India Registered Green Buildings, 2009 – 2019F (Units)

• Figure 9: India Centralized Air Conditioning Market Share, By Equipment Type, By Value, 2013

• Figure 10: India Centralized Air Conditioning Market Share, By Equipment Type, By Value, 2019F

• Figure 11: India Cooling Equipment Market Size, By Value, 2010 – 2019F (USD Million)

• Figure 12: India Tourism & Hospitality Industry Size, By Value, 2010 – 2019F (USD Billion)

• Figure 13: India Air Conditioning Equipment Market Size, By Value, 2010 – 2019F (USD Million)

• Figure 14: India IT Industry Size, By Value, 2009 – 2019F (USD Billion)

• Figure 15: India Ventilation Unit Market Size, By Value, 2010 – 2019F (USD Million)

• Figure 16: India Heating Equipment Market Size, By Value, 2010 – 2019F (USD Million)

• Figure 17: India Centralized Air Conditioning Market Share, By End User Industry, By Value, 2013

• Figure 18: India Centralized Air Conditioning Market Share, By End User Industry, By Value, 2019F

• Figure 19: India Centralized Air Conditioning Market Share, By Company, By Value, 2013

• Figure 20: India Centralized Air Conditioning Market Share, By Company, By Value, 2019F

• Figure 21: Number of Middle-Class Households in India, 2013, 2015F & 2020F (Million)

• Figure 22: India HCFC Phase-out Management Plan, 2015F-2040F

• Figure 23: India Traded Prices of Copper on MCX, 2009-2014 (USD/Metric Ton)

• Figure 24: Exchange Rate Dollar to INR, 2010-2014

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L i s t o f F i g u r e s

• Figure No.

• Figure 25: India Traded Prices of Aluminium on MCX, 2009-2000 (USD/Metric Ton)

• Figure 26: India Real Estate Investments, By Value, 2010-16F, (USD Billion)

• Figure 27: Blue Star Room Air Conditioners Plant Production Capacity, By Volume, 2014 & 2017F (Units)

• Figure 28: Blue Star Room Air Conditioners Sales, By Volume, 2013 & 2014 (Units)

• Figure 29: Blue Star Employee Count, 2009 – 2012

• Figure 30: Voltas Air Conditioners Production Size, By Volume, 2011 & 2012 (Units)

• Figure 31:Voltas Revenues in Unitary Cooling Products for Comfort & Commercial Use Segment, 2010-2012 (USD Million)

• Figure 32: Daikin India Air Conditioners Revenues, 2009-2013 (USD Million)

• Figure 33: Daikin India Dealer Network, 2009-2013

• Figure 34: Daikin India Chillers Production Capacity, 2010-2012 (Units)

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L i s t o f T a b l e s

• Table 1: High Rise Buildings in Mumbai, By Type, 2013 (Units)

• Table 2: Major Ongoing Commercial Projects in India

• Table 3: Upcoming Commercial/Residential Projects in India, 2014 – 2017F

• Table 4: India Domestic & International Airports, By State & City, 2013

• Table 5: India Metro Rail Projects, By State & City, 1984 – 2019F

• Table 6: Number of Hotels in India, By Region & State, 2013

• Table 7: Ongoing Hospital Projects in India, By Value & State, 2013 – 2016F

• Table 8: Number of Micro, Small & Medium Enterprises in India, By State, 2013 (In Thousands)

• Table 9: Average Selling Price of Air Handling Units (USD)

• Table 10: Average Selling Price of Fan Coil Units (USD)

• Table 11: Inverter Based Air Conditioners Competitive Advantage Over Traditional Air Conditioner

• Table 12: Major Hydrofluorocarbons, By GWP, By Energy Efficiency, By Regulatory Status, 2014

• Table 13: India Air Conditioners Price Increase, By Company, 2013 & 2014 (in %)

• Table 14: India HVAC Market Investments, By Company (USD Million)

• Table 15: ASHRAE Standards & Specification

• Table 16: India Standard Energy Consumption and Cost Savings for Room Air Conditioners, By Star Rating, 2014

• Table 17: Blue Star Key Business Segments

• Table 18: Blue Star Plant Location Detail

• Table 19: Blue Star Major Projects in Central Air Conditioning Segment, 2013

• Table 20: Voltas Primary Business Segments

• Table 21: Voltas Air Conditioners Manufacturing Location, By Production Volume, 2011 & 2012

• Table 22: Voltas Product & Processes Developed Through In-House Technology, 2012

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L i s t o f T a b l e s

• Table 23: Voltas Key Projects Executed in India

• Table 24: Voltas R&D Investment Size, By Purpose, 2012 (USD Million)

• Table 25: Daikin Distribution Network in India, 2014

• Table 26: ETA Engineering Partial List of Dealers, By State, 2014

• Table 27: ETA Engineering Test Facilities with Standards

• Table 28: India Green Building Registered Projects, By Type, 2013

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R e s e a r c h M e t h o d o l o g y

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Baseline Methodology:

For the study, TechSci Research gathered information through primary research surveys with HVAC equipment

manufacturers and externally validated the information using company annual reports and other secondary

sources. Our team of analysts has then prudently evaluated all the collected information and personated them in

chronological order to depict a meaningful and clear picture of the HVAC Market in India.

For our study, we have categorized HVAC market into two categories- room air conditioning and centralized air

conditioning. Under centralized air conditioning, we have further divided the segment into heating, cooling,

ventilation and air conditioning. While compiling the data, we have also cross checked all the collected information

from multiple sources and data warehouses, so that we can present the most accurate and precise information of

the concerned industry.

Sources:

Air conditioning equipment manufacturers such as Blue Star, Systemair, Voltas, Daiken and various other industry

consultants. Data sources such as Factiva, LexisNexis, Business Week, Factiva, Hoovers, etc.

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Companies Interviewed Blue Star, Systemair, Voltas, Daiken, etc.

S a m p l e D a t a - S n a p s h o t

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X%

10.00 20.00

30.00 40.00

50.00 60.00

70.00 80.00

90.00 100.00

Figure 1: Global HVAC Market Size, By Value, 2010 – 2019F (USD Billion)

Room Air

Conditioners,

50.0%

Centralized Air

Conditioners,

50.0%

2013

Room Air

Conditioners

, 50.0%

Centralized Air

Conditioners,

50.0%

2019F

Figure 3: India HVAC Market Share, By Segment, By Value, 2013 & 2019F

Eastern Region

2013 2019F

X% X%

Northern Region

2013 2019F

X% X%Western Region

2013 2019F

X% X%

Southern Region

2013 2019F

X% X%

Figure 4: India HVAC Market Share, By Region, By Value, 2013 & 2019F

10

20

30

40

50

2009 2010 2011 2012 2013

X% X% X%X%

Figure 9: Daikin India Air Conditioners Revenues, 2009-

2013 (USD Million)

Office Space, 12.0%

Airports/Metros, 12.0%

Retail

Stores/Shopping

Malls, 12.0%

Hospitality, 12.0%

Multiplex/Auditorium,

13.0%

Hospitals, 13.0%

Manufacturing , 13.0% Others, 13.0%

2019F

Figure 8: India Centralized Air Conditioning Market Share, By

End User Industry, By Value, 2019F

R e p o r t O r d e r i n g

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Report Name: India HVAC Market Forecast and Opportunities, 2019

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