An expo to showcase India’s high-potential Heating, Ventilation & Air Conditioning (HVAC) industry which is expected to reach a healthy $30 billion by 2030 will be held at the Bombay Exhibition Centre, Mumbai from March 14-16.
The Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE) in partnership with Informa Markets in India has announced organising the 22nd Edition of ACREX India, South Asia’s largest exhibition on Air Conditioning, Heating, Ventilation, and Intelligent Buildings.
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The three-day expo will contribute towards creating an ecosystem in line with the Prime Minister’s vision of making India ‘Atma Nirbhar’.
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Speaking on ACREX India, Chandrasekar Narayanan Srikantan, National President, ISHRAE said, “ACREX India, being organised in association with Informa Markets in India, facilitates the industry buyers and sellers to move from being energy guzzlers to energy conservers by providing the perfect platform to meet and grow their business.
The expo is proud to present ‘Make in India’ industry leaders and aspiring innovators. With Net Zero as the focus of the industry, ACREX India will host power-packed knowledge sessions and a practical showcase of products and innovation.”
Srikantan further said that the expo will feature over 450 exhibitors from 40 countries, including Belgium, China, Czech Republic, Egypt, France, Germany, Italy, Japan, Korea, Malaysia, Saudi Arabia, Singapore, Spain, Switzerland, Taiwan, the Netherlands, UAE, UK, Ukraine, and USA and will see participation from over 17,000 trade visitors and buyers and over 30 national and international conference speakers over the course of three days.
Airing his views on ACREX India, Yogesh Mudras, Managing Director, Informa Markets in India said, “The move toward smart HVAC systems is a key trend in India. With the increase in energy consumption and advancement of system efficiency, buyers are consciously opting for more intelligent HVAC systems with better controls, real-time monitoring, advanced building automation, and all things IoT.”
“Global temperatures have also increased the frequency and intensity of heat waves, draughts, and rainfall. These factors affect relative humidity, thereby altering HVAC equipment’s performance and energy consumption. Moreover, a boost in investments by the Government for the construction sector is creating demand for HVAC systems, which is expected to drive growth in the HVAC electronics market,” he added.
“In its 22nd edition, ACREX India, which is being held after a gap of 3 years, has taken a step to address the widespread environmental challenges and provide a roadmap to the HVAC industry to move towards low carbon intensity, lesser fuel, and electricity, giving rise to the demand for energy-efficient equipment in that market. It will propel the industry to grow at a consistent CAGR of 14.8 per cent,” he said.
The HVAC industry in India was at a market size of $7,820.5 million in 2021, and it is anticipated to reach an approx. $30,000 million by 2030, owing to a CAGR growth of 15.8% between 2021 and 2030. The growth is attributed to infrastructure development, technological advancements, and rising tourism activities across the country. The rising disposable income and various initiatives by the Government that focus on improving the energy efficiency of appliances are also contributing to the market growth.
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