The 22nd edition of ACREX India, organised by Indian Society of Heating, Refrigerating, and Air Conditioning Engineers (ISHARE) in collaboration with Informa markets in India started at the Bombay Exhibition Centre in Mumbai. With the dual objectives of engineering towards net zero and advancing sustainability objectives of the HVAC sector, the three-day exhibition highlighted India's highly potential HVAC Industry.

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The HVAC industry is expected to see a positive outlook in 2023, with a projected compound annual growth rate (CAGR) of 15.8 percent from 2021 to 2030. This growth is expected to result from the increasing demand for energy-efficient and eco-friendly solutions, driving a shift towards adopting new technologies and advanced HVAC systems. The growing adoption of smart home automation systems and the Internet of Things (IoT) is also expected to fuel the industry’s growth.

These technologies enable remote control and monitoring of HVAC systems, increasing energy efficiency and cost savings for homeowners. The market size of the HVAC industry is projected to grow from $7,820.5 million in 2021 to $ 29,282.7 million in 2030.

This year’s edition opened its doors to more than 450 exhibitors, including companies like Fujitsu General India Pvt Ltd, Greystone Energy Systems Pvt. Ltd., Honeywell Automation India Ltd., Kirloskar Brothers Limited, Matel Motion & Energy Solution Pvt Ltd., Murugappa Morgan Thermal Ceramic Ltd., Panasonic Life Solutions, Yaskawa India Pvt. Ltd., Shanti Refrigration and Auro Engg Company, Tecumseh among many others that will provide a 360-degree overview on the current HVAC trends worldwide. Key Partners at the expo include DAIKIN, Blue Star, Danfoss, Hisense among prominent players of the industry.

Commenting on ACREX India 2023, National President, ISHRAE, NS Chandrasekhar said, “The HVAC&R industry as per the industry study is poised to grow 6 times its current size in the next decade. Also, India is committed to achieve carbon neutrality by 2070 and HVAC&R industry shall play an important role in reducing the carbon footprints. Further, in the post COVID era, buildings have become more conscious of being healthy apart from being energy efficient.

Madhur Sehgal, Head of Climate Solutions, Danfoss India said, “The market is bullish as HVAC&R industry is poised to grow by 15-20 percent in 2023. Infrastructure growth, housing growth is at an all-time high. The government is focusing a lot on infrastructure development. Rail and road connectivity is also witnessing a major growth with a projection of 20 percent CAGR growth till 2025 for these two sectors."

Chirag Baijal, Managing Director, Commercial HVAC, Carrier India, said “Market continues to be strong on demand across all segments while supply chain and commodity headwinds persist. Energy regulation continues to come in steadily and we expect all segments of the HVAC to be covered earliest by the government for level playing field besides focus on sustainability that comes along with it, like ducted systems and VRF systems.”

Sandeep Chaudhry, Managing Director at Tecumseh India said, “We are committed to providing innovative and sustainable solutions for our customers to meet energy regulations and environmental norms.”

Speaking on the commencement of the 22nd edition of ACREX India, Yogesh Mudras, Managing Director, Informa Markets in India, said, “Considering the Union Budget’s prioritisation of sustainability, aiming for a green economy and net-zero carbon emission by 2070, the various features of ACREX India including conferences by industry stalwarts, ‘ACREX Awards of Excellence’ and the ‘ACREX Hall of Fame’ will inspire and build India’s sustainable future as seen in its impressive teeming commercial buildings, educational institutions, entertainment hubs, hospitality and hospital sectors, residential complexes etc.”

The trade fair is supported by industry associations such as the Refrigeration and Air Conditioning Trades Association (RATA), All India Air Conditioning and Refrigeration Association (ACRA), International Institute of Ammonia Refrigeration (IIAR), Assocham India, Indian Plumbing Association, India Green Building Council, FSAI to name a few.

First Published:Mar 15, 2023 4:34 PM IST