India: Hvac Equipment Market 2024

Hvac Equipment Market Size in India

The Indian HVAC equipment market amounted to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Hvac Equipment Production in India

In value terms, HVAC equipment production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Hvac Equipment Exports

Exports from India

For the eighth consecutive year, India recorded growth in shipments abroad of HVAC equipment, which increased by X% to X units in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, HVAC equipment exports expanded slightly to $X in 2022. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Germany (X units) was the main destination for HVAC equipment exports from India, with a X% share of total exports. Moreover, HVAC equipment exports to Germany exceeded the volume sent to the second major destination, the United States (X units), threefold. Saudi Arabia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Saudi Arabia (X% per year).

In value terms, Thailand ($X), the United Arab Emirates ($X) and the United States ($X) constituted the largest markets for HVAC equipment exported from India worldwide, with a combined X% share of total exports.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average HVAC equipment export price amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price saw a abrupt slump. The growth pace was the most rapid in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hvac Equipment Imports

Imports into India

In 2022, supplies from abroad of HVAC equipment increased by X% to X units, rising for the second consecutive year after two years of decline. In general, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, HVAC equipment imports totaled $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of HVAC equipment to India, with a X% share of total imports. Moreover, HVAC equipment imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), sixfold. The third position in this ranking was taken by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and South Korea (X% per year).

In value terms, the largest HVAC equipment suppliers to India were Thailand ($X), China ($X) and Singapore ($X), with a combined X% share of total imports. Germany, South Korea, Japan, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average HVAC equipment import price amounted to $X per unit, dropping by X% against the previous year. Overall, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform