INDIA HVACR… TURBO-DRIVE? ON

Urbanisation, growing demand for comfort cooling and affordability are driving the HVACR growth story in India. And today, the world seems to want a slice of the lucrative India pie, says Indu Revikumar, Features Writer, Climate Control Middle East

(with inputs from Surendar Balakrishnan, Editor, Climate Control Middle East)

ONE OF the important highlights of the market research report, HVAC Market - Global Outlook & Forecast 2023-2028, is the finding that the major economies in the Asia-Pacific region – namely India, China and Japan – witnessed an increase in commercial construction activities arising out of an influx of foreign companies in multiple sectors. Their coming in has meant setting up of their offices in the three countries with a view to capturing the potential customer base.

Interestingly, the participation of global HVACR companies in the 22nd edition of ACREX, one of the largest HVACR exhibitions in the world, clearly reflects the enormous potential of the HVACR sector in India. Indeed, the country is becoming an attractive destination for organisations interested in investing in the HVACR sector in India. ACREX, organised by the Indian Society of Heating, Refrigerating, and Air Conditioning Engineers (ISHRAE), in collaboration with Informa Markets, ran from March 14 to 16 in Mumbai, in the western Indian state of Maharashtra.

Simultaneously, India is flush with manufacturing units engaged in producing equipment or components. The reported consistency of their quality is as much a magnet for foreign HVACR organisations.

Perhaps reading the global sentiment for investment, and for procuring components and equipment, ISHRAE earlier in the year opened a sub-chapter in the UAE. Come ACREX time, and the President of the sub-chapter, Moan Abraham, led a delegation of HVACR companies from the UAE to Mumbai. Ramachandran Pillai, Regional Product Manager – Airside, Daikin Middle East and Africa, was one of the members of the delegation. Speaking to Climate Control Middle East at the exhibition, Pillai said he travelled to Mumbai to identify component suppliers for Daikin’s air-handling unit (AHU) manufacturing bases in the UAE and Saudi Arabia Sourcing from India brings cost advantages and lead-time advantages,