Representative image showing air conditioning units.
Credit: iStock Photo
New Delhi: The heating, ventilation, and air-conditioning (HVAC) sector is poised for an unprecedented growth due to increased demand in the coming years on the back of the government’s focus on infrastructure investment, say industry players.
Finance Minister Nirmala Sitharaman, in the annual Budget for the 2024-25 financial year, has allocated Rs 11.11 lakh crore for infrastructure.
Industry stakeholders shared their views during the 23rd edition of ACREX India. The three-day event, being held at Greater Noida, has been organised by industry body ISHRAE and Informa Markets India.
“As we observe the remarkable growth trajectory of the HVAC industry and the significant strides achieved through initiatives like the Atal Community Innovation Centre (ACIC) programme, ACREX India emerges as a symbol of opportunity and progress,” ISHRAE President Yogesh Thakkar said.
“With the substantial government investment of $1.45 trillion in infrastructure projects over the next five years, we stand on the brink of an era marked by unprecedented advancement,” Thakkar added.
Yogesh Mudras, Managing Director, Informa Markets India, said the event serves as a catalyst for driving the adoption of environmentally conscious practices within the HVAC and refrigeration sector.
Anoop Ballaney, president-elect for ISHRAE, said the industry prioritises decarbonization and skill development so as to help the country achieve its net-zero emission goal by 2070.