The increasing disposable income will act as the key driver for the growth of the Indian HVAC market. It is
expected to be $31,598.6 million by 2030 with an expected 16.0% CAGR during the forecast period (2020-2030). The
HVAC appliances are witnessing rising sales with people purchasing them to maintain the optimum temperature
inside closed spaces and achieve proper ventilation. From homes and large shops to offices, transport hubs, and
factories; HVAC appliances find widespread usage. Another reason for the rising installation rate of such
equipment in the country is its burgeoning residential construction sector. Along with the rapidly increasing
population and urbanization, government support and implementation of real estate regulations are boosting
residential construction activities in India. Source: https://www.businesswire.com