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Make in India, infinite opportunities for the HVAC & R industry

ISHRAE had estimated the domestic HVAC & R products market in India to be valued at Rs. 15,000 crore, having grown from a Rs. 10,000 crore industry in 2010.

February 23, 2016 5:29 IST | India Infoline News Service
News Newspaper Text
The Indian Society of Heating, Refrigeration, and Air-conditioning Engineers (ISHRAE) will organize the 26th edition of ACREX 2016, South Asia’s largest exhibition on Air Conditioning, Ventilation, Refrigerating and Building services, scheduled to take place at Bombay Convention and Exhibition Centre (BCEC) in Mumbai from 25th-27th Feb 2016.

ISHRAE had estimated the domestic HVAC & R products market in India to be valued at Rs. 15,000 crore, having grown from a Rs. 10,000 crore valued industry in 2010. ISHRAE also had stated the Indian HVAC&R market is expected to grow by nearly 30 per cent over the next two years to boast of a capitalization of over Rs. 20,000 crore, which will be mainly due to the buoyed acceleration in infrastructure and real estate activities.

The Finance Ministry in the past has positively indicated the need for increasing warehousing capacity for enhancing shelf life of agriculture products. This will ease funding for developing cold chain infrastructure through a robust public private partnership. The domestic cold chain offers great potential to drive and benefit agricultural, horticultural & dairy production.

Warehousing & cold storage development offers great scope of development through participation of related industries like dairy, horticulture, food & vegetables.

Speaking to the media, National President, ISHRAE Mr. K Ramachandran says “Meeting the housing, infrastructure and carbon reduction goals by promoting & developing the domestic manufacturing set up will help offer a great boost to the domestic GDP. India could emerge as a low-cost manufacturing hub for the global HVAC&R industry.”

The expo will see an increase in global participation by major players. ACREX 2016 will have special designated areas called “country pavilions” to accommodate participants from China, Germany, USA, Korea, and first-time Turkey.

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